• Mayer Insurance Agency

Insights to Classic Car Insurance Requirements

Despite their continued popularity and projected future growth, classic cars present insurance complications not found in more mainstream markets. The market value of an old, restored vehicle may be unclear, which is an issue because insurance rates for damage claims are based on costs for replacing the vehicle in its condition before a collision. Here’s a closer look at what classic car owners need to know about traditional auto coverage.

How Are Classic Cars Defined?


Many different people have their definitions for what is considered a classic vehicle. Some car enthusiasts may assume that as any car ages, it rises in value, which usually isn’t true. Auto shops specializing in restoring older models may consider all their products classic cars regardless of what diligent collectors think.


Each insurer has its definition of a classic vehicle, which usually starts around 25 years old. From an insurance agency perspective, a classic car is not treated as a regular vehicle used for commuting. Options for insuring a collectible include classic, antique, modified, and kit or replica coverage. Adding safety features to the vehicle can help lower insurance costs.


Who’s Eligible for Classic Car Insurance?


Not all drivers are eligible for classic car insurance, as the applicant’s driving history is a major factor. You will need to agree to store the collectible in a safe-covered place such as a garage and keep the mileage low each year. The vehicle must also be in good condition with proof of periodic maintenance.


Eligible Classic Vehicles


  • Limited edition collector models

  • Old farming vehicles

  • Vintage cars from the roaring ’20s

  • Classic motorcycles

  • Military vehicles from the past


Vehicles Not Covered by Classic Insurance Plans


Regardless of age, you must insure any vehicle you regularly drive under a traditional auto insurance policy. If an old car isn’t restored to good condition, it likely won’t be eligible for classic vehicle insurance. Other vehicles that cannot be insured under traditional plans include off-road models and vehicles that have been damaged or are dangerous to drive.


Difference Between Classic Vs. Traditional Vehicle Insurance


Classic vehicle insurance presumes you will not be driving the vehicle much and that it’s more of a showpiece than a utility. If it’s only used for car shows, you might choose a limited use provision policy that provides coverage just for public exhibitions. Traditional vehicle insurance presumes that you will use the car regularly. Some insurers require proof of a regular commuting vehicle when applying for classic car insurance. Besides, classic coverage typically comes with mileage limits.


The beauty of classic car insurance is that it’s affordable and simple if you mostly use it for car shows and occasional cruising. If you want to drive your collectible around town regularly, it’s best to meet with an insurance expert to discuss your coverage options. Contact us at Mayer Insurance to learn more about ensuring both classic and traditional vehicles.

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