Antique Car Insurance

Every state has their own legal definition of what is classified as an antique car. A car is usually considered an “antique” if it is 30 years old or older. Antique cars are normally not driven on a daily basis if at all, and many car lovers enjoy buying these older vehicles and restoring them. Antique car insurance is much different than regular car insurance because of the very nature of an antique car. Not all auto insurance companies offer antique car insurance, so it might be a challenge to find a company to insure you. There are many insurance companies that specialize in providing antique car insurance.

Most people don’t need the same auto insurance coverage they have on their daily driver on their antique car that is never driven. The car insurance company will normally send out an appraiser to determine the value of your antique vehicle and how much auto insurance coverage you need. There are a few different types of antique car insurance available.

1) Cash Value Insurance- value of your antique car is determined when you first purchase your policy. This is the least preferred type of antique car insurance because the value of the vehicle can change over time.

2) Stated Value Insurance- Safest type of antique car insurance. Provides coverage for stated value of the car for the length of the antique car insurance policy.

3) Agreed Value Insurance- Allows to lower amount of coverage when you are not planning on driving your antique car for long periods of time.