Classic Car Insurance

There are many forms of car insurance on the market, meeting the needs of a diverse range of car owners and drivers. One specialized line of coverage is classic car insurance, which exist specifically to protecting older cars. While classic car insurance meets many of the same standards as conventional car insurance there are a few points where it differs.

Classic Car Insurance is More Expensive than Conventional Coverage

There are a few reasons why classic car insurance will cost you more than conventional insurance.

• Classic cars are often more expensive. Not only are they more expensive to purchase but they are more expensive to maintain and to repair in the case of an accident. Often they use parts which are difficult to replace at a low price, if at all.
• Even though classic cars are often driven less and accumulate lower annual mileage than conventional cars they are still more expensive to insure. Despite their lower annual mileage cars driven exclusively for fun or for sport are more likely to get into accidents than conventionally driven cars. You will, however, be eligible for rate reductions based on long periods of inactivity if you only take your classic car out a few times a year.
• Car insurance companies rarely provide an accurate Agreed Price Valuation on classic cars, which means in the event your car is totaled or stolen you will unlikely receive enough compensation to replace it.

Different Types of Classic Cars

Auto insurance companies classify classic cars into one of three groups when determining their coverage costs:

• Vintage: Manufactured only a couple decades ago.
• Classic: Manufactured closer to 50 years ago.
• Antique: Manufactured closer to 80-100 years ago.

In general the older your car's classification the more you will pay for your auto insurance.

Receiving Lower Classic Car Insurance

In general the same rate reduction strategies which will provide you a lower premium for conventional car insurance apply to classic car insurance. The better your driving records the less you will pay for your insurance. The lower the coverage you accept the less you will pay. Using a quote comparison service like ours will help you find the cheapest provider for your vehicle. Taking on a higher deductible will lower your monthly payments.

The first steps towards receiving the least expensive classic car insurance are getting a quote comparison and understanding the factors involved in the price of your coverage.