A classic car is a special collector’s item. It may be an antique built over 100 years ago or a mid-century treasure. You may have restored a 1955 Chevrolet Bel-Air or your grandmother’s 1966 Cadillac convertible or Lincoln Continental. You have invested in this special sentimental vehicle and you want to protect it. So, what’s the best classic car insurance company?
Many major insurance companies will partner with a specialty company to offer you a bundled insurance policy for your everyday car along with the classic car, pickup truck or even a vintage motorcycle. Other companies work exclusively to insure only classic vehicles. It is necessary to shop around and compare to find the right company to insure your vehicle.
Vehicle Age and Condition
Each classic car is different. Age and the condition of the vehicle are most important. Classic car insurers evaluate the original chassis, the motor and the overall restoration of the vehicle. Insurance for a Model A Ford is different than the insurance for a 1956 Thunderbird. The classic car can be a Jaguar, Citroen, Alfa Romeo, Datsun, Volkswagen Beetle, or Mercedes Benz from a different era that has been restored and updated with a modern motor
A car that is 20 years old may be considered a classic. A vehicle that is 25 years old may be considered an antique. Many classic car collectors have vehicles that are much older even though they have newer engines that use unleaded fuel.
The overall value of the vehicle is of primary importance. The vehicle must be in operating condition although some companies will cover vehicles that are being restored. The antique car should show pride of ownership. This includes keeping the classic white sidewall tires in good condition along with the antique hood ornaments and door handles.
You do not drive your 1963 Buick Skylark or 1965 Mustang to work. A 1970 Chevrolet El Camino pickup truck may not be used to haul materials if it is classified as an antique vehicle. Most insurance companies do not want you to use it as an alternate vehicle while your everyday car is in the shop.
Most classic cars are used for special occasions such as parades, collector rallies, and antique car shows. You may take that classic convertible for a Sunday drive in good weather.
Classic Car Storage
Classic vehicles must be stored in a locked garage for the best insurance coverage. The classic car should also have the best protection from excessive weather conditions to hold its value. A classic car that is stolen is often easy for police to find, but it can be damaged in the process.
A secure, locked garage will offer the best protection for any vehicle, especially a classic car. A carport is far less secure and may result in higher insurance premiums.
Insurance companies that offer policies for vintage vehicles will look at the driving record of the owner(s). The primary owner or driver must be over 25 years of age with a safe driving record. The insurance company will want to know everyone who can drive the vehicle due to the unique circumstances of the car. This is necessary when an antique automobile has more than one owner.
It is assumed that the classic car is for personal recreational use and that it is not used for business. An antique car that is rented or used for commercial events requires a different type of insurance. Most importantly, the owner(s) of the classic car must show that they have another vehicle for everyday use.
Let Insurance Connection USA do the shopping for you to find insurance coverage for your classic car. They will provide recommendations and you can select the best company to meet your needs to protect your investment.