Classic, antique and collector cars can be valuable financial investments. While owning, restoring and collecting these motor vehicles can be rewarding and lucrative, it comes with risk. Accidents and other incidents may not always be avoidable, and without adequate insurance, you may lack the financial means to repair or replace your prized possessions.
What Is Classic Car Insurance?
As its name suggests, classic car insurance is a form of auto insurance with specialized coverage for unique, vintage, antique and rare vehicles. These policies can provide you with financial security in ways that standard auto insurance may not be capable of.
What Does Classic Car Insurance Cover?
Although classic car insurance policies may include essential features unavailable through standard auto coverage, there may also be several similarities. Generally, classic car insurance may include the following:
- Bodily injury liability coverage
- Property damage liability coverage
- Collision coverage
- Comprehensive coverage
- Medical payments (MedPay) coverage
- Personal injury protection (PIP) coverage
In addition to the coverages often included in standard auto policies, classic car insurance may give you the opportunity to augment your financial protection with the following additional features:
- Set value—While vehicles insured by standard auto coverage may depreciate over time, classic car insurance works differently. You and your insurer can work together before finalizing your policy to determine an agreed-on cash value for your vehicle that will not depreciate.
- Custom maintenance—Classic car insurance may help you access specialty services, including specific garages or auto shops. Similarly, your policy may help pay for parts and components designed specifically for your vehicle.
Transportation assistance—Your policy may also provide financial aid if you require roadside assistance for your classic car. In addition, if you prefer not to drive your classic car on the open road, your insurance may help you pay for specialized towing, such as to auto shows.
How Do I Qualify for Classic Car Insurance?
Insurance companies may have unique requirements for a classic car insurance policy eligibility. Although qualifying criteria may vary, in most cases the following factors may affect the options available to you:
- Vehicle value
- Estimated annual mileage
- Use habits (e.g., participation at auto shows and other events)
- Means of storage
- Owner’s driving records
Get the Right Coverage
At Vista Insurance, we understand that classic cars are treasured possessions and valuable investments. Our dedicated agents will diligently assess your coverage needs and ensure you are financially protected with an ideal classic car insurance policy. Contact us today to get started.