Quick Answer: Do you need special insurance for a classic car?

What types of vehicles need special insurance? A classic, collectible or antique car is no ordinary car—and regular auto insurance is not sufficient to protect such a vehicle against damage or loss. That said, there is no uniform definition of a classic car.

What kind of insurance do I need for a classic car?

Classic car insurance typically includes coverages similar to a standard car insurance policy, such as collision, comprehensive, property damage and bodily injury liability.

Is it expensive to insure a classic car?

Are classic cars cheaper to insure? Classic auto insurance is considered a specialty insurance product and, in general, classic cars tend to be more expensive to buy coverage for than regular car insurance policies, although that is not always the case.

Do classic cars have lower insurance?

Classic cars are often less of a risk to insurance companies. … Since classic cars are typically lower risk than primary cars, the premiums are often lower as well. If you can prove you’re an even lower risk with your classic vehicle, you may be able to get an even bigger discount on your classic car insurance premiums.

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What insurance companies cover classic cars?

Top 5 classic car insurance companies

Classic Car Insurance Company Annual Mileage Limit Customer Experience Rating
1. Grundy Insurance Unlimited 8.5
2. Hagerty Insurance (Progressive) Unlimited 8.5
3. American Collectors Insurance (USAA) 7,500 9.0
4. American Modern Insurance (Geico) Unlimited 7.0

How old does a car have to be for classic car insurance?

Insurers define a classic car according to how it’s used and kept – generally speaking, it needs to be a combination of most of the following: more than 15 years old, driven less than 5,000 miles a year, kept in mint condition and used as a second car.

Can you insure a classic car as a daily driver?

Classic car insurance is designed for secondary vehicles, meaning it’s not meant to cover your daily driver. If your classic or collectable car is your everyday ride, you’ll need to cover it with a standard auto policy.

Who has the best classic car insurance?

Compare Best Classic Car Insurance Providers

Provider Best For
American Modern Best Overall
State Farm Best Major Provider Classic Car Insurance
Safeco Best for Frequent Driving
Hagerty Best for Restoration Project Cars

How much is classic car insurance per year?

The average annual cost of a classic car insurance policy is between $400 and $1000.

Can you put full coverage on a old car?

Older cars are typically worth less, as their value depreciates over time. You may also be able to drop comprehensive coverage or collision coverage from your policy if your car is paid off. If you drop coverage and your older car is damaged in an accident, however, your policy won’t pay for the damage.

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Can I get classic car insurance?

A vehicle can be considered classic for insurance purposes provided it’s at least 15 years old. Insurance providers will also take annual mileage and condition into account. Ask owners for their definition of a classic car and, chances are, you’ll get answers ranging from an American vintage car to an import.

Why are older cars cheaper to insure?

Older vehicles are typically cheaper to insure because they’re less valuable than newer vehicles. … When your car is less valuable, it means your insurance company has a lower liability. The cost of repairing your vehicle might roughly be the same amount of money.

How does classic car insurance work?

Classic car insurance largely works the same as standard auto insurance, including liability coverage, collision coverage, comprehensive coverage, and medical payments coverage. One big difference: in the event of a total loss, classic car insurance pays out the agreed or guaranteed replacement cost .

Is Grundy Classic Car Insurance Good?

Overall, we give Grundy 4.0 out of 5.0 stars for classic car insurance.

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