The Classic Car Owner's Guide to Insurance

Whether you rebuilt your classic car or purchased a perfectly restored showpiece, as a classic or antique car owner, you have special auto insurance needs. Your classic isn’t just a car; it’s your passion and we’re here to help you protect it. Use this guide to help you understand what classic car insurance coverage might be best.
As a classic car owner, you have special insurance needs. Typically, classic cars are not on the road every day and are generally used for limited pleasure driving, car shows and club events. And, unlike your everyday car, your classic car will generally increase in value, especially if it is well cared for and restored. So, whether you own a 1932 Alfa Romeo or a 1962 Ferrari, you might want to consider purchasing additional insurance for your collectible.
Typically, your conventional auto insurance will cover your car up to its actual cash value, equivalent to its replacement cost minus depreciation. Classic car insurance differs in that your insurance policy will cover your collectible vehicle for an agreed or guaranteed value that is mutually agreed upon by you and your insurance company. To find an agreeable guaranteed value, your insurance company might take the following steps:
Not every old car is defined as a classic. An older car can be just that: old. For a car to truly be considered a classic or antique by your insurance company, it has to meet certain requirements, like:
Your classic car might also need to meet additional requirements, such as:
You might be surprised to find that coverage for your collectible car is likely less expensive than conventional automobile insurance. This is because you drive much fewer miles on your collectible and you’re likely to take very good care of your collectible. However, the premiums for your collectible are still based on similar factors as conventional automobile insurance.
If you’ve read this guide and you’re ready to get a quote, make sure to have the following handy:
No matter what type of car you drive, being insured is more than just a convenience — it’s a necessity. Whether you’re cruising the streets in your newly restored classic car or your family minivan, we’ve got you covered. Connect with an agent today to learn more.