- The age of the vehicle.
- How many miles it’s driven.
- The type of storage it is put in on the off-season.
- The actual/stated value of the classic car or truck you’re insuring.
- The make, model and age of the car or truck.
The classic car reno specialists at Wrenchers, LLC urge their customers to look for an insurance provider that specializes in the classic and retro car market.
What should a classic car or truck owner look for in an insurance provider, and what kind of information will you need to provide?
- A policy that provides a “guaranteed value” on your car. This may also be called an “agreed value” insurance policy. That means you and the agent will come to an agreement on a fair value for the car being insured. The value of the vehicle is what will be paid out in the event of a total loss. Most car insurance policies don’t offer a “guaranteed” value replacement- they operate under the “actual cash value” of the replacement of your car.
- Ask the insurance provider whether you and your classic car qualify for classic car insurance. If you, as the driver, have traffic or serious driving infractions, a classic car company may not provide coverage for your classic car. Although, obtaining coverage on any vehicle could be difficult if you’re dealing with traffic tickets or points on your license.
- Where is your vehicle stored? A heated and/or cooled secure storage unit or garage? Out in the driveway where it’s subject to the elements?
- How many miles a season will you drive, and where will you take the vehicle? Are you using the antique car for your daily commute? Is it being used as a pleasure vehicle on the weekends? These factors matter.
- What age is considered “classic” or “vintage” with the insurance provider you’re obtaining a quote from? The age that is considered classic varies by the insurance provider.
- Are there special coverages and extra protection you should add to the base policy? A classic car insurance policy will typically provide collision and liability coverage. You may want additional damage coverage or theft protection coverage.
How To Insure A Classic Car
The Classic Car Club of America (CCCA) offers a definition of a classic car as being one that was “manufactured from 1915 to 1948,” although some insurers consider vehicles up to 1961 as classic when it relates to vintage car insurance.
The CCCA defines:
- A classic car is one that is more than 10 years old or is of historic interest.
- An antique car is one that is more than 25 years old and has been restored or preserved.
- A replica that is a reproduction of a classic car.
Ask your potential insurance provider what classification your vehicle falls under.
Specialty coverages an antique policy might offer include:
- Cherished salvage coverage.
- Automotive tools and spare parts coverage.
- Vehicle “under construction” coverage.
- Automobilia coverage for collectible items, including vintage license plates or hood ornaments.
Why should you take the time to look for an insurance provider that will offer coverage unique to a classic or vintage car or truck? The bottom line is that your “regular” insurance provider isn’t equipped to provide the coverage your vintage vehicle requires. Additionally, in some cases, the cost of a vintage vehicle policy may cost you less than traditional car insurance.
Talk with your current insurance provider for recommendations on classic car insurance, or talk with your vintage vehicle professional at Wrenchers, LLC.
At Wrenchers LLC, we are classic, antique and hot rod enthusiasts, and that shows in the craftsmanship of our vehicle restorations. Whether you choose a full frame-off, traditional restoration or custom work for your vehicle, our experienced restoration professionals listen to you and work on your vehicle with the same care they take with their own. When your keys are handed over and you slide behind the wheel after your car has been restored, you will be hitting the road in the vehicle of your dreams.