Antique Cars Insurance

If you want to protect your investment, insurance is the best way to do so. Antique cars are valued at different rates than regular cars and often need a different type of insurance. So, it's essential to be aware of the difference between a classic car and an antique car when deciding what coverage is best for your car.

When it comes to insurance, identifying a classic car is a little more complicated. Some insurers might deem a car over 10-years-old to be a classic, while others might not consider a vehicle made during the 1970s and 1980s to be classics - due to high production runs in those years. To let you know, classic cars can include modified collector cars, replicas, reproductions, restorations and modern classics.

The vehicles that are over 25-years-old are generally known as antique cars. Antique cars are restored to their original specifications and in full running order altogether. Although there are exceptions, some states regard cars over 20-years-old as antique cars. A vehicle cannot have any modifications at all for it to be considered an antique.

You may think that, since a classic or antique car is used and driven less than a standard car, it will be cheaper to insure. This is not always the case. A standard auto insurance policy usually does not offer enough coverage to replace or repair a classic car. An antique is often more expensive to fix, as the parts are generally harder to find and cost more. Specialty insurance offers the coverage needed to repair or replace the car entirely, but it often comes with a higher price tag.