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Classic Car Insurance

A Special Car Deserves Special Coverage

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Protecting your prized possession with the right classic car insurance is extremely important should you ever need it. We hope you never do, but should the unexpected happen, you want to have yourself and your vehicle covered. Classic car insurance provides the same coverages as regular car insurance, but it takes into consideration that your vehicle is driven for significantly fewer miles per year or even seasonally. You also need to decide if you want to protect your classic car for its stated value (fair-market value), or if you prefer an “agreed” value which is the amount you and the insurance company agree upon. With agreed value, in the event of a total loss, you are covered for the full amount listed on the policy, minus any deductibles of course. We can discuss your options and provide a quote to give a sense of the differences.

Consider Protecting Your:

  • Antique or classic car or truck
  • Exotic or rare vehicle
  • Collectible vehicles

Protect Yourself From:

  • Accidents and property damage
  • Medical payments
  • Broken or cracked windshield
  • Theft and vandalism
  • Bodily injury and property damage to others
  • Uninsured and underinsured drivers

FAQ

What are classic car insurance policies?

Drivers who own classic cars and trucks often invest a significant amount of time and money into their beloved vehicles, and their investment ought to be protected. Classic car insurance gives owners of classic vehicles a way to protect their vehicles and themselves. Classic car insurance policies are auto insurance policies that have been specifically designed for classic cars and trucks. They take into account that these vehicles are often worth a lot and are not often driven.

How do insurers determine the value of classic cars and trucks?

If they’re available, insurers will often use comparable sales to determine how much a classic car or truck is worth. Because classic vehicles are relatively rare, however, there frequently aren’t enough comparable sales available. Therefore, insurers frequently supplement comparable sales with auction sale prices, third-party appraisals, and receipts from any work done on a vehicle. Owners who would like to have a third-party appraisal done in case anything happens to their car or truck may find a qualified appraiser at a nearby classic auto show.

How are stated value and agreed value classic auto insurance policies different?

Most insurance companies offer two different types of classic auto policies: stated value policies and agreed value policies. Stated value policies usually insure a classic car or truck for it’s stated value. This is typically the vehicle’s fair-market value, as determined from the sources mentioned above. Agreed value policies insure a classic car or truck for a value that the driver and insurer agree upon. This value can be different from the vehicle’s fair-market value. These policies, thus, give drivers who would like more protection than a stated value policy would provide a way to purchase the additional coverage they want.

What people need classic auto insurance?

Most people who own a classic car or truck should have a classic auto policy. Normally, this type of policy provides the most appropriate coverages for classic vehicles at the best prices.

How old does a car or truck need to be to qualify for classic auto insurance?

Despite its name, classic auto insurance isn’t only used to insure truly classic cars and trucks. This type of auto insurance is frequently suitable for any collectible, exotic, or rare vehicle. Therefore, it’s frequently used to insure old, classic cars -- but it also might be a good choice for insuring a new collectible or exotic car. Drivers who would like to know whether their particular vehicle qualifies for a classic auto policy should contact their insurance agent. Their agent will be able to look up the year, make, and model of the vehicle to see whether a classic auto policy is available for it.

Does a classic auto policy cover a vehicle while it’s being restored?

Many insurers cover classic cars and trucks while they’re being stored or worked on at a restoration shop. Some companies, however, require drivers to notify them of the shop’s location prior to moving the insured vehicle to the shop. Additionally, a few insurers might not cover shops in certain areas, or they may adjust a policy’s rates. Drivers should contact their insurance agent before bringing their vehicle to a repair shop to find out whether they need to make any adjustments to the vehicle's insurance policy.

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