What Is Classic Car Insurance?

​High-value vehicles need high-value protection. A classic car insurance policy may help protect it during unwanted events. Insurance carriers set the criteria for a classic car and determine its value.

When is a car considered classic?
A classic car is also called a vintage car, antique car, and collectible car. There are factors to consider when labeling a car as a classic. One of them is the car’s age. It should be 25 to 30 years old. Newer cars can also be considered classic if they have significant modifications or are manufactured in small productions.

Classic cars are generally vehicles that have an appreciating value. It is not a primary car used for daily commuting. It is a car used for leisure or exhibitions.

How to qualify for classic car insurance?
The rule of thumb to qualify for classic car insurance is that the car should be considered classic. The vehicle should only be used for exhibitions and club leisure activities and not for primary transportation. The classic car owner should store the vehicle in an enclosed, well-secured structure.

Classic car insurance coverage
The claims of regular car insurance may not be enough to cover the expenses of classic cars. Regular and classic car insurance vary in terms of the coverage they provide in the collision and comprehensive services. 

Classic car insurance includes liability and medical coverage, including personal injury and medical payments. The insured may avail of roadside assistance and towing services expenses reimbursements. The coverage is based on the settled value of the car.

Conclusion
Classic car insurance goes beyond what regular automobile insurance covers. Classic cars are classified according to age, modifications, and purpose. Classic cars should not be used as the primary transport vehicle and should be stored in a well-secured place to qualify for coverage. There is additional coverage that can be added to the existing contract to widen the scope of protection. 

The protection coverage varies depending on the car's agreed value and the policies set by insurance carriers. Additional protection is always advantageous, especially for classic cars with appreciating value.

At Schneiderman Insurance Agency, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (818) 322-4744 or Click Here  to request a free quote. Topics and coverage discussed in this article are not guaranteed, consult with your agents to determine what your policy does and does not cover. We are more than happy to help!