Have a classic car? Here’s what you need to know about insuring them:
Insurance Eligibility
To be eligible for classic car insurance, your vehicle must usually fit one of the following definitions:

• Classic Car: A vehicle more than ten years old is a rare make and model due to exceptional workmanship or limited production.
• Antique Car: A vehicle more than 25 years old. If a “classic car” is more than 25 years old, it is considered an antique car for insurance purposes.

Your antique or classic car must also meet these conditions:

• Limited Use: Most classic car insurance policies will only cover a limited number of miles each year.
• Condition: The car must be restored, maintained, or preserved. Some insurers may decline coverage if the vehicle is not in excellent condition.
• Storage: You will need to store your car in a fully enclosed and locked garage.

Policy Payouts
Typically insurance companies provide coverage in one of two ways:  1) agreed-value policies guarantee 100 percent of the amount listed on the policy in the event of a total loss, or 2) stated-value policies will pay out their perceived value of your classic car.

Classic Car Coverage
Antique or classic car insurance policies include standard vehicle coverage options, such as liability, collision, comprehensive, medical payments, etc. But because regular-use vehicle policies often won’t protect classic cars in certain situations, you should purchase separate insurance for your classic car.

To find out more, please get in touch with our office.