Classic Car Insurance

You don’t care for or drive a classic car like you do an everyday one, so why would you insure it the same way? Your classic car is your baby and, often, a very high-valued one. You want to make sure it remains protected.

The insurance that protects you, your passengers, and the car you drive regularly is not sufficient for a “classic” car because it won’t cover the true value of your vehicle.

Standard car insurance policies determine this value based on mileage, age, and depreciation; it doesn’t consider the costs of restoration or customization. Classic cars are typically worth more than the price listed in most car valuation reports. Therefore, adding a classic car to your standard auto insurance policy may not provide adequate protection.

Classic Car Coverage Details

Classic car insurance is similar to standard car insurance policies. It covers collision, comprehensive, bodily injury liability, and property damage.

However, classic car insurance differs from standard auto insurance in these ways:

Classic car insurance covers vehicles based on a dollar amount agreed upon by the insurer and owner, and you can adjust this coverage if the car’s value changes.
Classic car insurance can also cover the cost of repairs and replacement parts if your classic vehicle is damaged, potentially saving you significantly high out-of-pocket costs.
Depending on your policy, you may need special coverage if you plan to drive the vehicle to car shows or club events.
When not in use, an insured classic car is usually required to be stored securely in a private garage or locked storage space.

What Is a Classic Car?

The criteria used by your state’s DMV or BMV to determine if your car is a classic vehicle may be different from the state the car came from. Cars that qualify as classic may be issued license plates labeled classic, vintage, antique, and historic, differentiating them further.

Insurance companies often have different guidelines for defining what is and what isn’t a classic car.

Is Your Car Classic, Antique, Vintage, Or Historic?

While every state has different definitions for classic cars, the difference between vintage, antique, and classic can be loosely defined as follows:

Vintage car – usually manufactured from 1919 to 1930
Antique car – usually 25 to 45 years old, but often varies.
Classic car – usually includes vintage, antique, and collector cars between 10 to 25 years old.

However, this differs among states and insurers, and some do not separate classifications beyond “classic.”

Call Gallant Risk and Insurance Services, Inc. at (951) 368-0700 to speak with an agent who can tell you if your car qualifies for classic coverage.

Protecting Your Vehicles and Assets

Gallant Risk utilizes carriers that cover your classic car based on a mutually agreed-upon value rather than the “actual cash value” that standard insurance companies offer. We also work with you to determine the appropriate coverage to keep your costs low while meeting your unique needs. This includes considering the following:

Age of vehicle
Modifications
How many miles you plan to drive the car in a year
And other factors

Your classic or antique car is an investment worth protecting, so make sure your Corvette, Mustang, Charger, Camaro, Thunderbird, or other classic car has the right coverage by calling Gallant Risk today!

Frequently Asked Questions About Classic Car Insurance

Is classic car insurance cheaper than standard policies?

Yes, classic car insurance is less because the car is not driven on a regular basis. However, your coverage costs will depend on the classic car’s value.

How do I qualify for classic car coverage?

Whether your car qualifies as a classic car is determined by its make, model, age, and if it will be driven regularly or used to commute. Classic car insurance coverage often limits annual mileage, and some companies require that you own or use a different vehicle for routine driving.

To qualify for a classic car insurance policy, you may also need proof that your driving record is clean and that the car is being stored properly.

What is the mileage limit for a classic car?

While not all classic car insurance providers limit mileage, and this number varies among those that do, classic cars are usually required to be driven less than 5,000 miles annually.

Should classic car insurance policies include roadside assistance?

Try to find coverage that includes flatbed service to avoid damage to your classic car.