Whether you purchased a fully-restored American classic or rebuilt one from the ground up, it’s probably more than “just a car” to you. If it were “just a car,” a standard auto insurance package may suffice. Liability coverage, maybe a little collision coverage and, if you want to go the distance: emergency road service. But, your classic isn’t “just a car,” it’s your prized possession, and it should be protected as such.
Total Loss Coverage
If you were to suffer a total loss that’s covered by your standard auto insurance policy, you’ll get back an adjusted amount based on the perceived value of your car. Classic cars are different, particularly in that their value doesn’t depreciate over time the way newer cars do. If you’re to suffer a total loss that’s covered by your classic car insurance policy, you’ll get back an amount that’s equal to the value of your classic car (minus your deductible and/or the salvage value of any parts you choose to keep).
Original Parts Replacement Coverage
Suppose something breaks on your car, maybe it’s a tail light, maybe it’s a side mirror. Either way, with classic auto insurance, it’s possible to have the cost of original parts covered by your insurance – even when they’re particularly pricey.
How to Qualify
There are a few conditions that need to be met in order to qualify for classic car insurance. For one, the classic you’re trying to insure can’t be your daily driver. It needs to be kept in a garage and only driven on an occasional basis for pleasure. If you intend to drive it every day, you’ll probably need standard auto insurance.