Do you own an antique, vintage, or collector vehicle? Then you need classic car insurance because a regular auto insurance policy won’t be sufficient to protect it against any damage or loss.
Classic car insurance is designed for vehicles of a certain age and that are driven less frequently. Insurance providers typically insure classic cars if these are used occasionally for “fun” drives or hobby events like shows, exhibitions, and parades. Some insurers require that you store your car in a storage facility or an enclosed space.
A classic car policy is similar to regular car insurance in that it offers protection such as liability, medical payments, uninsured/underinsured motorist, collision, and comprehensive coverage.
But unlike regular vehicles, which are covered based on their actual cash value, classic cars are insured based on agreed value. This means that if your classic car is totaled, you are paid the amount you and your insurer have agreed upon before the policy is issued. This is in contrast to traditional car coverage, which determines the amount only after a loss occurs. Furthermore, classic car insurance offers specialized coverage, including:
Auto show medical reimbursement. If you or any of your family members sustain injuries during a car show or exhibition, this pays for your medical fees.
Spare parts and automotive tools. This provides coverage for the spare parts of your insured vehicle and the tools used to restore or maintain it. Some insurance firms provide coverage for spare parts not intended for insured vehicles.
Restoration/vehicle under construction. If your treasured car is undergoing a restoration process, this handles everything.
Automobilia. This reimburses automotive collectibles like vintage license plates, hood ornaments, signs and posters, prints and paintings, model cars and other toys, and automotive literature.
Roadside assistance. If your classic car breaks down, this gives you access to roadside services that include flatbed towing, fuel delivery, and other services at no cost.
No attendance required. This safeguards your vintage car while on display even if you’re not physically around.
A classic auto policy covers a broad range of vehicles. Depending on the insurance company, some types of vehicles eligible for classic car coverage are:
If you’re based in the Vancouver area, we have specialists that can customize a policy to protect your prized investment. Call 360-514-9550 so we can discuss your needs, or request a quick quote online.