To the average person there is no difference between Antique Cars, Vintage Cars and Classic Cars. But to auto insurance companies, there is a clear and distinct difference among all three, and depending on how a car is classified it will affect your auto insurance rates. Of course, the condition of your vehicle and value will have more bearing on your car insurance quotes than the actual classification, but they are important nonetheless.
Antique Car: Any car or vehicle manufactured before 1903.
Vintage Car: Any car or vehicle manufactured between 1903 and 1933.
Classic Car: Any car or vehicle that is over thirty-five years old.
No matter how it is classified, you can still get special auto insurance for your classic, vintage or antique car. The auto insurance rates you pay will be dependent on the value of the vehicle, its condition, and the amount of coverage you want. You should purchase auto insurance specific to the classic, antique or vintage vehicle, that is separate from your regular auto insurance policy. That is of course, unless you use your collector car as your main form of transportation…but that is highly unlikely.
There are several different names for these special insurance policies, such as Classic Car Insurance, Collector Car Insurance, and Collector Auto Coverage. All of these policies will have special requirements that will differ from auto insurance company to auto insurance company, but for the most part you can expect the following:
• The vehicle must be kept in a garage or other enclosed facility.
• The facility may be required to have a lock or security system.
• The vehicle should not be used as your main transportation.
• The vehicle must be over twenty years old at least.
• Vehicles can be driven, but there are often a maximum amount of miles each year. This can be anywhere from 1000 to 5000 miles per annum.
• The vehicle should be used only for exhibitions, shows, parades and other special occasions.
Just like with regular auto insurance policies, the policies for antique, classic or vintage cars can include collision, comprehensive and liability. Collision will pay for health costs and damages incurred as the result of an accident, regardless of who was at fault.
Liability coverage will pay for medical costs and damages to another vehicle and driver, if you were at fault in an accident. Comprehensive coverage will pay for vehicle damages and health costs as the result of collisions, vandalism or acts of nature. Depending on where you keep your collector car and how often you drive it, Comprehensive Coverage may be necessary. You will also need some additional coverage such as "Garaging Location," which will cover any damage done to the vehicle at the storage location. Another good additions is "Value Coverage" which will cover your true investment in the vehicle should you need to make an insurance claim.
