How to Insure a Classic or Antique Car

Owning a classic or antique car is more than just a hobby; it’s a passion that connects you to automotive history and craftsmanship. However, insuring such a valuable and cherished vehicle requires special attention and knowledge. Unlike regular cars, classic and antique cars often appreciate in value and have unique insurance needs. 

Understand the Value

Classic and antique cars often appreciate in value, unlike regular vehicles. Getting an accurate appraisal from a professional specializing in classic cars is crucial. This appraisal can help determine the car’s agreed value, which is the amount the insurer agrees to pay in the event of a total loss.

Consider the Coverage Options

In addition to offering coverage similar to standard car insurance, classic car insurance policies typically offer the following coverage options:

• Agreed value coverage can help ensure you receive the full appraised value of the car in case of a total loss.

• Spare parts coverage can help cover the cost of rare or hard-to-find parts.

• Restoration coverage can help financially protect your car during the restoration process.

Classic Car Insurance Eligibility Requirements

A vehicle is generally deemed a classic if it is over 10 years old and holds historical significance; however, there may be other conditions to consider. Each insurer may have its own criteria for classifying a vehicle as a classic, considering aspects such as its usage and storage conditions. For instance, classic car insurance is generally unavailable for vehicles driven daily.

Learn More

As the value of your classic car changes, it’s essential to review and update your insurance policy to help ensure it remains adequate. Contact Baker Insurance Group Inc. to discuss classic or antique car insurance.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.