Finding Cheap Classic Car Insurance – Things You Need to Know

Classic car insurance does have different limits and requirements from regular car insurance. Depending on the individual company, a classic car could be determined to be any age from 15 years old as a minimum, to 25 years of age as a minimum. Finding cheap classic car insurance for your beloved car might not be as difficult as you’d think.

Just because a car is old doesn’t mean you need classic car insurance, nor does it mean it would even qualify. If you are still driving your 1970 VW bus from your college days, chances are you won’t want nor would you qualify for antique or classic car insurance.

Some of the major differences if you are interested in checking out classic car insurance include the fact that the car must not be your only method of transportation. In other words, you can’t be driving it to work every day. You also need to have a garage – not a driveway or a carport. It needs to be protected.

Most companies also impose annual mileage limits. The car is also insured for what they call an agreed upon value. Since it’s old, it’s difficult to go by the regular methods that take depreciation into consideration. Many cars appreciate dramatically over time. You and your insurance company need to come to an understanding what the car is worth on the open market, and in the event of a total loss, that is what you would be insured for. Last but not least, you, the owner, need have been a driver for at least ten years with an excellent driving record. So if you have a few DUIs under your belt, don’t go out to buy that 1965 Mustang and think you’re getting classic car insurance for it.

Some companies also distinguish between “antique” and “classic” car insurance. Normally, a company will attribute the term “antique” to any car at least 25 years old. It could be any type of car including cars that have long been forgotten about. Other companies offer only classic car insurance, solely based on their internal list of what they consider to be “classic” cars. These are usually pretty well known cars such as the 1957 Chevy, 1965 Mustang, or a 1962 Corvette to name a few.

Certain companies also require you to have the car registered with your state and carrying special license plates that identify it as “antique”. If your state will recognize the car as an antique, you are a little closer to getting the insurance you need.

Getting quotes for cheap classic car insurance is probably best done online. Most regular car insurance companies don’t provide that type of coverage.

Applying for this type of insurance takes less time, too. Once you find a few companies online you think you might want to do business with, you will see that the application forms are shorter. They don’t focus on medical payments to others or things like that. They focus on the value of the car, how many miles you intend to drive, your driving history, and the value of the car’s replacement. Policies are much less than your regular insurance.