What Is A Classic Car? As Defined By Classic Car Insurance Companies
June 4, 2009
The question today, is what makes a classic car? Does a car simply have to be old? Does it need to be expensive?
Requirements of a Classic Automobile Insurance Company
Everyone has their own opinion about what is a classic car according to a classic car insurance company? According to most car insurance companies, a classic cars that is at least 15 to 20 years old or older, is garage kit when not in use, and is driven less than 2,500 miles per year (states can vary on this number, as some states allow up to 5,000 miles per year)
Why get classic car insurance?
Classic car enthusiasts spend years trying to find that perfect car, months to years restoring the car to its top condition, and tons of money restoring and maintaining the car back to its top condition. Classic car insurance is all about protecting the investment that was put into a classic car. Keep in mind that not just any automobile insurance will work. Because classic cars often have much more value than a late model or even a new car, it is vital to the owner to protect the investment.
What are the types of classic car insurance?
Often classic car insurance is called “collector car insurance.” A collector car is a car that is not an everyday driver and usually is 15 years or older. There’s different types of classifications of collector cars when it comes to collector car insurance. It all depends on the classic car insurance company and how they define their different categories of coverage.
Newer cars (15 years or newer) are generally considered exotic or special interest cars. The collector car to insurance company will go to great to make sure that this car is not driven too much and is indeed treated like a collectible car.
A vintage car is just a few decades such as a 1989 Turbo Trans Am Indy 500 Pace Car that is only taken to car shows. It is not a regular driver but only considered a collectible car. Classic cars are cars that are generally 15 years or older. Antique cars parked cars that are usually 25 years or older. The classifications vary from state to state, but antique and classic are terms that can be used interchangeably pretty much.