Whether you rebuilt your classic automobile or bought a restored collectible, it is much more than a car – it’s a treasure. That’s why your classic or antique car insurance policy shouldn’t be just a standard car insurance policy. Instead, it should be built just for your unique classic as well as include specialized coverage.
A classic or antique car insurance policy typically covers most types of old vehicles, but it depends on the policy. To know what your vehicle is eligible for, keep this in mind:
Classic car: a motor vehicle 10 years or older, which is of rare or special historical interest due to the conditions of its production.
Antique car: a motor vehicle 25 years or older. The car in question must be used on a limited basis for events such as club activities, parades, or exhibitions and must have been restored, maintained or preserved.
When you have your car at home, it should be kept in a secure garage. Collector vehicles tend to appreciate, or increase in worth, so it’s important that your classic car insurance policy covers your prized vehicle to the necessary extent.
Most classic car insurance policies and antique car insurance policies differ since most classic and antique car values differ. There is no “one size fits all” policy. However, it is best to look for a policy that includes the following:
Your vehicle may also be covered throughout the course of restoration. This is important because if you do have a covered total loss, you will receive every cent of your car’s insured value with no depreciation.
Classic car insurance policies tend to cost about 42% less than standard auto policies. However, they vary depending on the true value of your car and the mileage plan you decide on. Some owners never take their antique car out of the garage and therefore purchase a lower mileage plan, which would be the least expensive. Collectors who prefer occasional general use would require a higher mileage plan, which would also be more expensive.
Resources to Help Find the Best Fit for Your Needs
There are many different companies that offer classic car insurance policies. There is no “best” policy, since every antique vehicle is different. Therefore, the “best” classic car insurance policy, will depend on what you need it for. We recommend the following website resources to help compare Classic Car Insurance Reviews, but it is important to note that the final recommendation will be based on your specific needs and situation.
Your insurance should fully cover what you hold dear. Since all vehicles are different and because classic vehicles are restored differently, your policy must be unique to your vehicle. At American Integrity Insurance Solutions, we will work extensively with you to determine your vehicle’s worth. After understanding how often you intend to use it, building your policy will come easily. Contact us today to learn more and obtain a quote for Classic Car Insurance or Antique Car Insurance.