A step above your typical car insurance.
Your classic car is special to you and that’s why classic car coverage is a special category with some key differences to ordinary auto insurance policies.
A variety of coverages for collector, antique, and classic cars.
First, let’s deal with the name. Different policies may be called classic, collector, or antique car insurance. Exactly what qualifies will depend on the insurance company, but usually, such policies cover cars that are not only of a certain age but have distinctive characteristics such as being particularly rare.
Pay outs are based on an agreed-upon value.
The biggest difference between a classic car coverage and traditional auto insurance is that the insurance company will usually agree to a specific value of the car at the start of the policy. If the car is destroyed or damaged beyond economic repair, your payout is for this agreed-upon value, rather than the usual system of looking at the market cash value of your classic car at the time of the claim. This gives you the peace of mind of knowing you’ll get the right amount with no surprises.
Coverage for authentic parts is often guaranteed.
If the insurance company pays for repairs after a collision, your classic car policy will often guarantee to pay for necessary and authentic parts that might be excluded or exceed coverage limits with an ordinary car insurance policy.
Applies to limited use cars, not daily drivers.
One note of caution, however: many classic car policies only apply to limited usage, whether that’s a specified (low) annual mileage, or only covering trips to exhibitions and parades rather than everyday driving.
Be sure to connect with us to discuss the details of insurance for your classic, collector, or antique car. We can help to find the right policy for you!