There's nothing quite as calming as cruising on a Sunday afternoon and turning heads in a pristine classic car. However, if you're considering making such a purchase, it's important to know that vintage and antique vehicles have different car insurance needs than newer models. For that reason, you need to carry a special type of policy. Here's a closer look at what you need to know. 

What Are the Eligibility Standards?

Most auto insurance providers have a set of requirements for their classic car policies. While there isn't a minimum value stipulation, qualifying vehicles are worth more now than their original market selling price. Even though certain new releases meet this specification, eligibility is restricted to older models—usually 10 years or older. 

Additionally, providers consider the condition. The vehicle should currently be—or on the way to—running and in overall good shape. To help keep it well maintained, you must store the vehicle indoors in a secured garage and keep the mileage low. For the latter, there's typically a set maximum number of miles you can drive throughout the duration of the policy. 

What's the Difference Between Classic & Standard Auto Insurance?

Both types of coverage offer important on-the-road protections, like liability, collision, and comprehensive. Classic car insurance takes the safe-keeping a step further based on the unique needs of vintage and antique models. For instance, these plans allow you to adjust the policy as the value of the vehicle increases. 

They also consider the increased costs of an accident. The price of repairs for classic models is usually higher because part availability and the necessary mechanical skills are rarer. Towing may also be more expensive because of the value and uniqueness of the vehicle. The coverage is written specifically to accommodate these higher expenses. 

What to Look for in Classic Car Coverage

There are a few particular components to seek out when purchasing a policy. Look for a plan that offers an "agreed value" replacement over the "actual cash value" to ensure you end up with a guaranteed amount if the car is totaled. 

If you're making improvements or updates, then additional policy safeguards are beneficial. Restoration coverage extends the protections to the car while mechanical or auto body improvements are made. Spare parts coverage, on the other hand, offers financial assistance for damaged or stolen vehicle parts. 

If you're ready to hit the road in a classic vehicle, make sure you're properly protected with the assistance of Bruce Richardson - State Farm Agent in Morgan County, IN. The second-generation insurance agent boasts more than 30 years of industry experience and is committed to a personalized coverage approach. Find the right car insurance for your needs by requesting a quote online or by phone at (317) 831-3500.