Classic car insurance

by Stable MARK | Updated: September 7, 2022
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If you're thinking about buying a classic car, you need to know about classic car insurance. It's not the same as regular car insurance, and there are a few things you need to know before you buy a policy.

In this article, you’ll find out what car insurance is, why you should go for it, what makes a car a classic, what covers the insurance, and the difference from standard car insurance. Let’s go.

Classic car insurance
Image 1: Classic car insurance

What is classic car insurance?

Classic car insurance is for collectors' vehicles and vintage cars. These cars are older models that are considered collector's items. Classic car insurance generally has much less premiums than regular auto insurance as by default they are used rarely. It covers collector cars, motorcycles, trucks, and memorabilia.

Collector car insurance lets you choose a mechanic you trust. In some cases, this mechanic can be you. Because collector parts are not easy to be replaced, the plans are designed in a way for you to be easy to find exactly what you need.

What makes a car a classic?

Many people think that any old car can be classified as a "classic car". However, this is not the case. There are very specific criteria that must be met for a car to be classified as a classic. For starters, the car must be at least 25 years old. Also, the car must be well maintained and in good condition. The car can be used only for occasional pleasure, exhibitions, or club activities.

Cars made before the 1970s are considered classics. Here is an example of some classic car modes:

  • 1967 Ford Mustang
  • 1969 Dodge Charger
  • 1965 Chevrolet Impala

Why you need classic car insurance?

As a classic car owner, you know that your vehicle is a significant financial investment. And the value of a classic car appreciates over time. You also know that finding replacement parts can be impossible. The classic cars are covered at an agreed value and have low deductibles. That's why you need classic car insurance.

What does classic car insurance cover?

Classic car insurance covers the same liability and medical expenses like personal injury protection or medical payments coverage as regular car insurance. Additionally, you can buy towing and roadside assistance coverage.

Classic car insurance vs. regular car insurance

Agreed car’s value

There are a few key differences between classic car insurance and standard car insurance. One of the most important is the agreed value. The agreed value is an amount that you and your insurer agree upon when you purchase the policy.

Classic car owners often choose to insure their vehicles for agreed value because it offers greater protection in the event of a total loss. With standard car insurance, your insurance company would only pay out what they deem to be the current market value of your vehicle. It may be less than what you paid for it or what it’s worth to you.

Usage restrictions

Another key difference between classic car insurance and standard car insurance is that classic policies often offer more flexible usage restrictions. For example, you may be able to use your classic car for occasional pleasure driving, whereas a standard policy would only cover you for commuting or business use.

Safe storage

There are also storage requirements. One of the main things you need to do to get classic car insurance is to make sure your car is properly stored. This means keeping it in a garage or other secure location where it will be safe from theft and weather damage. Many classic car owners also invest in security systems and alarms to further protect their investments.


To sum it up, if you want to protect the value of your classic car, classic car insurance is a must. Not only will it help you financially if your car is ever damaged or stolen, but it will also give you peace of mind knowing that your beloved classic car is properly protected.

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