For many, a classic car means antique car shows on the weekends and road trips when the weather is sunny. Given that a classic car is both desirable and collectible, the cost to own, maintain, and restore is often more than your daily driver. Consequently, you want to be confident that you have the right insurance policy on the vehicle. Whereas standard car insurance takes into account depreciation, age, and mileage when determining the value of your vehicle, classic car insurance is a fixed value that is agreed to by all parties.
Classic car insurance is similar to traditional auto insurance in that it offers the same coverage for collision, comprehensive, property damage, and bodily injury liability. Not only does classic car insurance cover the vehicle for an amount that’s agreed to by the owner and insurer with the option to increase it over time, but also it can help cover the cost of specialized repairs or restoration if the vehicle is damaged.
When determining if a vehicle qualifies for classic car insurance, insurers start by looking at its age. Typically, a vehicle must be at least 25-years old to qualify. Additionally, classic car owners will need to agree to stringent requirements to maintain their classic car insurance that includes mileage limitations, storage requirements, and agree that the vehicle will not be driven daily. If you plan to take the vehicle to car shows and auto club events are sure to verify with your insurance provider that this is allowed as you may need to purchase additional coverage.
Red Rock Insurance in Las Vegas, NV is your local source for classic car insurance. Give us a call or stop by our office to learn more about our insurance offerings.