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Both auto enthusiasts and everyday drivers can appreciate the timeless beauty and historical significance of classic cars. Though they may not serve the same purpose as modern-day vehicles, they are just as vulnerable to damage and theft. If you’re fortunate enough to own a classic car, make sure it’s adequately protected. Here’s what you need to know about buying auto insurance for a collector’s vehicle. 

What You Need to Know About Insuring a Classic Car 

How to Know If Your Vehicle Qualifies as a Classic

Before you can purchase specialty coverage for the vehicle, you must determine if it qualifies as a classic car. Eligibility requirements can vary between insurers, but the following conditions must always be met: 

  • Age – The car has to be at least 25 years old. 
  • Limited use – The vehicle cannot be used regularly.
  • Condition – The vehicle will need to be in excellent condition and not have any signs of body damage.
  • Storage – Classic cars must be stored in an enclosed building.

Generally, classic car owners are also required to have at least five years of driving experience and a relatively clean driving record with a maximum of one at-fault accident or traffic citation in the last three years.

Coverage Options 

auto insuranceClassic car auto insurance policies work much like traditional policies. They provide liability coverage for if you’re found at fault for causing third-party injuries or property damage. A plan can also include collision and comprehensive coverage for damages your vehicle sustains, medical payments for injuries you suffer, and coverage for uninsured or underinsured motorists. Most classic car insurers have add-on options available, as well, such as spare parts coverage, auto show medical reimbursement, roadside assistance, and traveling coverage.

The Importance of Properly Insuring Your Classic Car 

If you ever plan on taking a classic car out on the open road, you’re legally obligated to carry the state’s minimum limits on liability coverage. Additionally, your vehicle will be covered for an agreed value. This means if you experience a total loss, the insurer will reimburse you with a mutually agreed upon amount. Your coverage will also pay for original replacement parts. In contrast, typical auto insurance policies pay the actual cash value of a car, minus depreciation, and usually require that aftermarket parts be used for repairs. 

 

Choosing auto insurance for a classic car requires additional research and help from a professional agent. If you are looking for high-quality and cost-effective coverage, turn to Patton Insurance Group. Over the years, they have earned a solid reputation for providing Springboro, OH, residents with reliable products and exceptional customer service. As an independent agency, they have access to a variety of insurance solutions and carriers and will assist you with deciding how best to protect your classic car. Call (937) 886-9966 to set up an appointment or visit them online to request a quote.

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