All You Need To Know About Vintage Car Insurance

classic cars

According to Classic Car Club of America, a classic car is defined as a unique motor car built during 1915 to 1948, inclusive.

These cars are different in terms of their distinguished design, superior workmanship and high engineering standards. In those days, they were quite expensive because of its newness and limited production.

For your vehicle to be considered a classic car, it needs to meet the following categories:

  • Ancestor
  • Veteran
  • Vintage
  • Post Vintage.

The U.S. has many people collecting vintage and classic cars as a hobby. What they don’t realize is that even their classic car which is sitting in their garage needs special insurance.

Following are things you need to know about classic car insurance if you are going to keep a classic car:

1.     Cost of Coverage

Most people with a classic car insurance only pay around 25–33% less premium than they would pay for a car they usedon a daily basis.

2.     Insurance Coverage Is At an Agreed Value

Classic car owners who want a higher price should get their cars assessed independently. As opposed to other cars losing their value as soon as they are driven on the road, classic cars’ value goes up with time. The demand for classic cars is very high in the market hence the changes in value can happen very often.

3.     Find an Agent

Find an insurance company that has insights into the classic car market and will get you the best insurance policy. You should be careful while finalizing your classic car insurance policy by making sure it also matches your personal circumstances.

4.     Classic Car Insurance Claims Are Different

Damages that occur to classic cars are different in nature when compared to the regular ones because most of the time they are stored in the owner’s garage.

While the regular auto insurance claims come from car crashed, classic car insurance are based on fallen sheds and any in-house accident.

5.     Consider Combining Your Auto Insurance Policies

Combining insurance policies helps you save money. This is the same with combining your regular car’s insurance policy to that of your classic car’s. You should consider combining all of your insurance policies (auto insurance in this case) under one insurance company to save yourself from excessive premium costs.

At Manatee Insurance, we help you find the best insurance policy and company for your auto-insurance needs. If you are based in Florida and are looking to get your car insured (both; regular and classic), get in touch with us and we’ll help you find the best policy to match your needs!


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