Unique vehicles require special auto coverage. A classic, custom, collectible or antique car requires insurance that reflects your vehicle’s uniqueness and value. If you own a show car, it is in your best interest to learn about the kind of policy you need.
What Types of Vehicles Require Special Coverage?
A classic, collectible or antique car is no ordinary car, therefore ordinary insurance won’t do the job. It is important to obtain sufficient coverage that will protect such a vehicle against damage or loss. If a car’s value exceeds its original selling price, then it could be classified as a collectible and a candidate for specialized classic car insurance. Typically, vehicles that may warrant specialized coverage include:
- Antique and classic cars (25-30 years old)
- Hotrods and modified vehicles
- Exotic and luxury autos
- Muscle cars
- Classic trucks
- Vintage military vehicles
- Classic motorcycles
- Antique tractors
Qualifying for Coverage
A car’s age is not enough to qualify for specialized classic car insurance. Most cars must meet the following criteria in order to qualify:
- Limited use: Your classic car cannot be used for everyday commuting or errands. Your policy may state mileage limitations.
- Secure storage: When not in use, your special vehicle must be stored in a locked, enclosed, private structure, such as a residential garage or storage unit.
- A clean driving record: You may be disqualified from classic auto insurance if you have serious offenses on your driving record.
- Vehicle Condition: Some insurers require that the vehicle is in good working condition and has not been previously damaged.
Classic Car Policy Details
Your classic car policy will include provisions found in ordinary auto policies, but there are some differences.
Each car’s condition is unique, so there is no set “book value” for specific makes and models. The first step in insuring your show car is to determine the value of the vehicle. This value will be specified in your policy and your car will be covered up to that value without depreciation.
Unlike everyday vehicles that depreciate over time as you add miles to them, classic cars may gain value. Adjust your coverage as the value of your auto appreciates.
Your policy should allow the flexibility to bring your show car to a specialist—even if the rates far exceed the cost of a typical car repair at a traditional auto body shop.
Special Towing and Spare Parts
Coverage for towing corresponds with the special demands of transporting a classic car. Spare parts coverage should also be aligned with the cost of replacing valuable and unique vehicle components, such as wheels, transmissions, and engine parts.