Your antique car may not be your daily driver, but it should still be covered by an adequate insurance policy. You’ll want to protect it from theft, for example, and if it ever leaves the garage, you’ll need some form of collision coverage, too. If you’ve never insured a classic car, though, you may be wondering how to do so. Here are a few steps to get you started. 

How to Insure an Antique Car

1. Determine Its Guaranteed Value 

Standard auto insurance uses the actual cash value (ACV) of the vehicle to determine coverage limits. Because most autos depreciate over time, so does their ACV and, subsequently, the amount the insurer will pay out should a covered event occur.

Antique cars are different, though. Since they don't depreciate, you’ll want to insure it for its guaranteed value. This value, which you can justify with the auction price or a professional appraisal, will not decrease for as long as the policy is in effect. 

2. Consider the Most Likely Catastrophes 

If you’ll be driving the vehicle in traffic at all, both liability and collision coverages are a must. Since antique cars may be more likely to break down en route, you may want roadside assistance as well. Purchasing comprehensive coverage is also wise as it will compensate you for non-collision losses, such as theft, vandalism, and fire.

This may seem like a lot of coverage for a vehicle that you only drive on occasion. The insurer will take the minimal usage into account, though, when determining the premium.

3. Find a Reputable Agency 

When you're ready to purchase coverage, ask other classic car enthusiasts whom they turn to for insurance. You can also find a reputable agency by doing a little research online. There are a number of review sites that post honest, firsthand testimonials about the kind of service the different insurance carriers provide. 

Once your antique cars are fully insured, show them off at the Charlotte AutoFair in Mecklenburg County, NC. A biannual four-day event, this auto show has been held every spring and fall for the past 30 years. To learn about their upcoming Spring 2020 Spectacular, visit their website or call (704) 841-1990.