If you own a classic car it is no doubt one of your most prized possessions but classic cars have different auto insurance needs than a regular commuter vehicle. You need to make sure you have a policy that meets the needs of the car.
Most classic cars spend most of their times housed in a garage and are driven very few miles a year compared to a regular vehicle. The other thing that is unique to classic cars and exactly the opposite of non classic cars is that as time goes by they actually gain value which is why you should consider a separate classic car insurance policy.
In general a classic car policy is going to cost you less because you can easily meet annual mileage restrictions. The other thing is that insurer’s see classic car drivers as less of a liability because if someone’ highly values and cares for a car the vehicle is less likely to be damaged and collectors don’t take unnecessary risks.
On the other hand the potential repair costs can be much higher. In a lot of cases parts for classic cars can be hard to locate and may even need to be made to fill a need. This is an important question to ask about a classic car auto insurance policy is exactly how damaged parts will be replaced.
When shopping for classic car policies just like with standard policies it is always a good idea to shop around rates and get a quote from several carriers. You also need to make sure that your policy reflects price appreciation. Some companies do this automatically and others require that you request it. It is best to do this at least once a year.
Insurers of classic cars may also make other stipulations on your policy such as mileage restrictions or requiring that it is housed in a garage.
A good place to start is to enter your zip code below and compare quotes across several major carriers.