All About Classic Car Insurance

Do you own a classic car? An antique or classic vehicle is defined according to its age when it is registered. The specific age varies, depending on the state in which you live. For example, the state of Connecticut considers cars 20 years or older to be antique, whereas Virginia requires a vehicle to be at least 25 years old.

To make it even more confusing, Pennsylvania defines classic cars according to the following: “a motor vehicle, but not a reproduction thereof, manufactured at least 15 years prior to the current year which has been maintained in or restored to a condition which is substantially in conformity with manufacturer specifications and appearance.” However, the majority of insurance companies consider any vehicle that is older than 25 years to be an antique or classic.

Conditions for Classic Car Insurance Policies

Your vehicle may have to meet certain criteria established by insurance companies that sell classic car insurance. For example, your insurer may require you to submit a value documentation or appraisal before they will sell you a classic auto insurance policy. Standard auto policies typically offer the same advantages of classic car insurance. The main difference is that you are usually limited concerning the number of miles you can drive a classic car every month or year. Depending on the age of your vehicle, the limit may range from 1,500 miles to 7,500.
Most classic car insurance policies also place restrictions on how far you can drive your classic car from your home. Certain insurance companies will place other restrictions such as limiting vehicle usage to organized classic car events, car shows or parades. Make sure you review any possible restrictions before you decide which classic car insurance policy to purchase.

Lower Classic Car Insurance Rates

Owning a classic or vintage car can lower the cost of your annual auto insurance. You may be able to find very inexpensive insurance coverage, depending on the main use of your vehicle and how often you choose to drive it. Certain stock cars that are worth approximately $10,000 may only cost $110 every year to insure.

Classic Car Insurance Policies

Many insurance companies such as Grundy Insurance, J.C. Taylor Insurance and Hagerty Insurance sell classic car insurance. The former is based in Pennsylvania and has insured more than 1.5 million collector, vintage and antique cars for the past 60 years. The J.C. Taylor Antique Automobile Insurance Company is also based in Pennsylvania and has more than 50 years experience selling classic car insurance policies.

Hagerty Insurance offers insurance coverage for any antique vehicles that are used only for classic car events, tours, exhibitions and functions, as well as very limited pleasure driving. Their classic car insurance policies state that collector vehicles must be stored in a locked, enclosed garage whenever they are not being driven. This is not usually a problem, as the majority of classic car owners are very protective of their antique cars!

Your Driving Record

If you want to purchase classic car insurance, you will find it much easier to find a willing insurance company if you have a clean driving record. Insurance providers review the driving history of all applicants. It won’t normally be an issue if you have only been involved in a few minor accidents or traffic violations. However, you may be denied auto insurance coverage if you have ever been convicted reckless driving, an excessive speed violation, alcohol-related offense or a major traffic infraction within the past 3 to 6 years. Certain states such as North Carolina, Washington, Louisiana, New Mexico, Virginia and Massachusetts also require drivers to have at least 5 years of driving experience.

If you take the time to compare coverage options and rates from various insurance providers, you are sure to find an affordable classic car auto insurance policy.