So what gives? What is the inside info on classic car insurance? What should I be aware of?

Classic car insurance protects the collectors’ investment in beautiful cars. The owners of collector cars often believe incorrectly that the only insurance available for their classic car is to place it on the family auto plan. That’s wrong.


Although classic car insurance is more economical than standard insurance, there are often specific requirements that need to be met to secure the lower rates. There are several restrictions that face the classic car owner, so let’s take a look at some.

Classic car insurance businesses will desire for you to be aware of the following before you go for that good rate: the driver’s age, many businesses have a restriction on the age of the driver; how much mileage is on the car, you might not be eligible for mileage limitations; where the car is housed and of course the age of the vehicle itself.

Car insurance policies for classic cars tend to be quite different than the coverage that other insurance policies provide. Insuring a car for the present day value minus depreciation is what most standard auto insurance policies do. To put it another way, as the car ages and is used its value lowers. This is not applicable to the classic vintage auto. In comparison, collectible cars, should they be maintained, will have their value increase over time. This is due to the fact that they are not operated as often, they are not utilized for the same purposes as a car is for everyday use and they are particularly babied by their owners.

Classic car insurance providers typically offer “Agreed Value Coverage”, which essentially indicates that you and the insurer are expected to agree upon the up front value of the vehicle in order to give the appropriate coverage for this situation. This vehicle valuation will give the full market value of the classis car as confirmed on the policy and factor in the appreciation at the time of the loss.

Low or zero deductibles on comprehensive and collision coverage are offered by some carriers. It’s not uncommon that coverage will be offered for additional parts or accessories that you many not have on or in your vintage vehicle. Your family auto insurance policy will not contain that type of coverage.