For many car enthusiasts, there’s something thrilling about the style, build, and power of vehicles made decades ago. Often known as antique or classic cars, these vehicles offer a thrilling and nostalgic glimpse into the past. Antique auto insurance is intended to protect these older cars and trucks against damage. Below is a guide on how insurance policies work for antique vehicles and their benefits. 

What is Antique Auto Insurance?

Depending on who you ask, the word “antique” can refer to different age ranges. The Maryland Department of Motor Vehicles doesn’t have a specific definition for antique vehicles, but it recognizes insurance policies for antique vehicles. Some insurance providers, such as State Farm®, define an antique vehicle as one that is at least 25 years old, whereas a classic vehicle is between 10 and 24 years old. 

To determine a vehicle’s value, most antique automobile insurance plans require you to provide a number from an appraisal company. This is known as the agreed value. If your antique car is stolen, damaged or totaled, the agreed value is what the insurance provider will typically pay. There may be conditions on the antique car’s usage; for example, its usage may be limited to events such as exhibits, car shows, and parades. Mileage limits might also be established, and the vehicle could have specific storage instructions to protect it from damage.

What Are the Benefits of Coverage?

One of the key benefits of having antique auto insurance is an agreed value payout if your car is stolen or destroyed in an accident. Unlike newer vehicles, depreciation is not a factor when determining value. 

Another perk for car owners is the use of original parts if repairs are needed. As a feature of your policy, insurance providers will take extra steps to ensure mechanics use original components — at no added cost to you. Depending on the provider for your antique auto insurance, you may receive additional amenities, such as travel expenses if your vehicle breaks down while away from home. Other services could include towing and reimbursement for personal property stolen from the car. 

Whether you’re a current antique car owner or are searching for an older model, Crothers Insurance Agency wants to help you protect your investment. Based in Rising Sun, MD, the family-owned firm specializes in providing affordable and comprehensive antique auto insurance. You can count on a friendly and experienced agent to listen to your needs to design customized coverage. To learn more about protecting your antique vehicle, call (410) 658-5200. Visit their website for additional insurance information.