Classic Car Insurance: Facts about Collector Car Insurance

Most people think that antique classic collector car insurance is just like any other type of insurance but for older vehicles. Nothing could be further from the truth. While antique car insurance policies do place limitations on the ages of the vehicles you’re allowed to insure they often have several other restricting guidelines as well. Here are a few to consider.

5. Vehicle Ownership

Most antique classic collector car insurance companies will not insure your antique or vintage vehicle unless you can prove that you have another vehicle, one that does not fall into this category, to drive regularly. They do this because they understand the value of an antique car and know that these vehicles should not be on the road regularly. If you don’t have another vehicle to drive they will assume you drive your antique car regularly and may refuse to give you coverage.

4. Vehicle Mileage Restrictions

Almost every antique car insurer has guidelines limiting the number of miles an antique car owner can drive his vehicle every year. The average limitation is 2,500 miles. This basically gives you enough mileage room to take your car to a show or out on a joyride but ensures that you are not exposing your vehicle to traffic or other hazards on a regular basis.

3. Protection for the Vehicle

In order to obtain an antique classic collector car insurance policy you must be able to prove that you have a safe area within which to store your car, such as a carport or garage. In many cases, simply throwing a cover over the car to protect it from scratches while in your driveway will not be enough to satisfy company underwriters.

2. Insurable Vehicle Categories

In the past, most antique car insurance companies placed very strict limitations on the types of cars they would insure, demanding that a car be at least 25 years old in order to classify as an antique. Now the restrictions are a bit lighter, allowing for collectable cars, like hot rods or classic trucks, to be insured as well. Depending on the company you choose, you may even be able to find coverage for newer model vehicles that are considered high-end collectables. This guideline will vary from company to company.

1. Driver Age Limitations

Every classic car insurance company will have specific guidelines regarding the age of the driver listed on the policy. Most companies require antique car drivers to be at least 25 years of age while a few others require drivers to be at least 30 years of age. There are a few companies that will allow drivers as young as 21 to be listed but these are few and far between.