By A classic car is a one-of-a-kind ride that requires special care and attention to maintain and protect. Because of this, it’s not typically insured by major auto insurance companies. Rather, owners of classic cars often use specialist insurers that offer specific policies tailored for antique and vintage vehicles and other collector cars. In order to qualify for a classic car policy, your vehicle must meet certain criteria. This may include an age limit, the condition of the vehicle and other stipulations. The type of coverage you receive can also have a big impact on your final rates.
Most classic-car-insurance providers will not cover any vehicle that is considered to be in a poor or damaged condition. This is because these vehicles are usually more likely to be the target of vandalism, theft and other types of damages. Many insurers also require classic cars to be kept in a secure storage location when not in use. This can be in a garage, pole barn or other private structure. In addition, some insurers also offer specialized coverage for spare parts and memorabilia that are commonly owned by classic car drivers.
The biggest rule for getting classic car insurance is that you cannot drive the vehicle as your primary transportation. You can, however, take your classic car to club functions and exhibitions or on organized drives and tours. You may also want to take it on the occasional just-for-fun ride.
Drivers must have a good driving record in order to qualify for a classic car policy. Most insurers will not cover your classic car if you have multiple at-fault accidents or moving violations on your record within the last three years. In addition, most carriers require drivers to agree not to race their vehicles.
In addition to these stipulations, most classic car insurance policies require drivers to have another vehicle that they regularly drive for daily transportation. This ensures that the insurer has a low-risk driver on their policy. In some cases, the policy will also require that the driver and any household members listed on the policy have an active car insurance policy in place for their daily commute.
Generally, classic car insurance companies offer a lower premium than traditional auto insurance. This is because these policies are designed for collector vehicles that are not being used as everyday transportation. It’s important to shop around and compare quotes when you’re looking for a classic car policy. This will help you find the best rate for the exact coverage that you need. MoneyGeek has a handy expandable menu that lists the companies that can provide you with a quote for a variety of different vehicles, including modified cars, hotrods and replicas. To see which companies can provide quotes for your specific car, just click the relevant arrows. We’ve also provided you with information about some of the most popular classic car insurance providers, so you can make an informed decision.
