What to Know About Auto Insurance for Classic Cars Before You Buy
You probably bought a classic or antique car because of your true love for automobiles. You don’t mind taking it for a spin to show it off and enjoy the time behind the wheel. Some car enthusiasts don’t even take that much of a risk themselves; their cars might simply be for display purposes and be driven infrequently to meetups or car shows.
Regardless of how much or little you plan to use your classic automobile, you must insure it appropriately. These beauties deserve strong insurance coverage, and you can only get this benefit by enrolling in classic auto insurance, specifically. To settle on the right policy, you will have to customize your coverage to your advantage. To do so, here are a few things to keep in mind.
Do You Qualify for Antique Car Coverage?
For a vehicle to qualify for classic auto insurance, it must first be classified as a classic automobile. Though classifications vary, just because a vehicle is old, that does not mean it’s a classic car. Usually, a few additional qualifications have to be met:
To be a classic car, the vehicle needs to be 10 or more years old and be rare or have special historical interest because of fine workmanship or limited production.
Or, to qualify more specifically as an antique car, the vehicle needs to be over 25 years old.
The vehicle must be used on a very limited basis. Often, these cars are only taken to and from club activities, exhibitions, parades or other types of events. Some recreational driving is allowed, though you will have to check with your insurer to learn more about the specifics.
The vehicle must be restored, preserved or otherwise properly maintained and in good condition.
Usually, any vehicle that qualifies as a classic automobile can only be insured under classic auto insurance. After all, this benefit will provide the very specific coverage necessary to insure the often-high value and specific components associated with these unique risks.
What Type of Car Insurance Do You Need?
Under classic auto insurance, you will be able to receive several different types of coverage, each of which can work to your advantage. Among the most critical benefits you might need are:
Uninsured/Underinsured Motorist Coverage
Some policies also offer custom parts coverage, and your plan will include coverage options that are designed to protect the unique value associated with the vehicle. Talk to your insurance agent about the proper valuation for your car, the types of policies suited for its unique use and the right complimentary benefits to further protect it.