What is classic car insurance?1
Classic Car Insurance, or collector car insurance, is a specialty insurance intended for antique and classic cars. Coverage generally looks similar to your ordinary car insurance, including damage and liability protection, but offers unique protection for the unique needs of classic cars (like covering the cost of those hard-to-find replacement parts in the event of an accident).
Liberty Mutual will help you customize your classic car insurance so you only pay for what you need.
What is considered a classic or antique car?
Generally, a vehicle must meet certain criteria to be considered a classic or antique vehicle.
- A vehicle over 25 years old is considered a classic car or an antique car.
- It gains value as it ages based on make, model, year, body design, or physical condition.
- It’s often used for exhibitions, parades, or other occasions.
Is classic car insurance different from my car insurance?
Yes, typical car insurance is intended for a car you drive daily, not necessarily a prized possession like your classic. Classic car insurance takes into account the unique challenges classic car owners face when restoring their vehicles after an accident, such as hard-to-find or sometimes impossible-to-find parts replacement. Additionally, regular car insurance is often not a good fit due to the value of classic and antique cars. In the event you make a claim, typically there’s little to no depreciation associated with your classic car like there would be if your vehicle were a newer model.
Does classic car insurance cover my vehicle if it’s stolen?
Yes. Classic car insurance covers your vehicle in the event of theft. Depending on the details of your claim, you may need to follow some guidelines in your policy’s terms and conditions.
Is any classic or antique vehicle eligible for classic car insurance coverage?
To be eligible for classic car insurance, your vehicle may have to meet certain criteria. Be sure to check for any usage restrictions to make sure your coverage is right for you. For example, your policy may state that your classic should only be used for leisurely driving and not your main mode of transportation.
Your classic vehicle must also be stored in a fully enclosed locked structure, such as a garage. And of course, must be considered a classic, antique, or collector vehicle.
A Liberty Mutual agent can help you understand exactly what is right for you and your classic car.