Whether it’s a beautifully restored vintage vehicle or a timeless muscle car, classic cars hold a special place in our hearts. However, insuring a classic car can be quite different from insuring a regular vehicle. If you have a classic car or are considering purchasing one, you may have several questions about classic car insurance, from its eligibility criteria to what it covers. Let us discuss all of them.
Table of Contents:
- What Is a Classic Car?
- Will a Classic Car Policy Cover Weekend Drive-Related Damages and Losses?
- Does Classic Car Insurance Reimburse for the Repairs I Did Myself?
- I Drive My Classic Car in the Summer. Do I Still Need Insurance Coverage in the Winter When It’s in Storage?
- Does My Dormant Classic Car Need Insurance Coverage?
- Why Doesnâ€™t My Regular Auto Insurance Policy Cover My Classic Car?
- Get Ultimate Protection for Your Timeless Vehicles at CAV Insurance Agency
What Is a Classic Car?
Generally, a classic car is defined as a vehicle at least 20 to 25 years old with historical value or significance. However, the exact definition may vary depending on the insurance company and the purpose of the vehicle. Some insurers may consider vintage cars, exotic vehicles, or limited edition models as classic cars. It’s best to check with your insurance provider to determine if your vehicle meets their criteria.
Will a Classic Car Policy Cover Weekend Drive-Related Damages and Losses?
One common misconception about classic car insurance is that it restricts the usage of the vehicle. While classic car insurance typically offers lower premiums than standard auto insurance, it doesn’t necessarily mean you can’t take your classic car for a weekend drive or participate in car shows and events. Most classic car policies allow for recreational use, but there may be limitations on the number of miles you can drive annually. Be sure to discuss that with your insurance provider.
Does Classic Car Insurance Reimburse for the Repairs I Did Myself?
Classic car owners often enjoy working on their vehicles and performing maintenance or repairs themselves. Fortunately, many classic car insurance policies do allow you to perform the work yourself while still maintaining adequate coverage. However, it’s crucial to inform your insurer about any modifications or repairs you plan to undertake, as certain modifications may affect the coverage.
I Drive My Classic Car in the Summer. Do I Still Need Insurance Coverage in the Winter When It’s in Storage?
If you live in an area with harsh winters and prefer not to drive your classic car during that time, you may consider storing it. Classic car insurance policies often provide an option called “Laid-Up Coverage” or “Storage Coverage” specifically for these situations. This coverage allows you to reduce or suspend coverage for the period your vehicle is in storage. It’s important to note that comprehensive coverage, which protects against theft, vandalism, or damage while in storage, is still recommended during this period.
Does My Dormant Classic Car Need Insurance Coverage?
Even if your classic car is not currently operational, it’s still wise to have insurance coverage. Comprehensive coverage can protect your vehicle from theft, fire, or damage caused by unforeseen events. Additionally, if you have invested a significant amount of money in restoring or preserving the vehicle, insurance coverage provides financial protection in case of any accidents or damage that may occur while it’s being stored or transported.
Why Doesnâ€™t My Regular Auto Insurance Policy Cover My Classic Car?
You might wonder why you can’t add your classic car to your existing auto policy. Classic cars have unique characteristics, values, and risks that differ from everyday vehicles. Classic car insurance policies are specifically designed to address these differences and provide specialized coverage tailored to the needs of classic car owners.
Get Ultimate Protection for Your Timeless Vehicles at CAV Insurance Agency
Â Owning a classic car is a wonderful experience, but it needs to be insured for protection against mishaps and natural disasters. Contact us at CAV Insurance Agency today to get personalized classic car insurance!