How to Protect an Antique Car

Whether you've inherited an antique car, bought one fully restored or took the time to restore one yourself, protecting your investment is of the utmost importance. There are several things you can do yourself to protect your collector car on a day-to-day basis, but for the long term, you need insurance to be fully protected. When it comes to antique cars, regular car insurance will not provide the proper coverage needed.

Difficulty: Moderately Easy

Instructions

1. Keep a tarp over your car at all times when not in use, even if it's kept inside. This keeps the dust off, which not only makes the car look dingy, but it may also damage the paint's finish by causing what's referred to as "spider swirl" or dust cutting. A tarp will also help protect the car from small nicks and scratches.

2. Put the car inside a garage or other type of storage building. You never know when a thunderstorm will produce hail, which can vary from as small as a pea to as large as a softball--or larger in rare cases. Hail damage can be a costly repair and can change the value of a car enormously. If a garage is not available, at the very least, build a carport or other covered area to keep the car under, especially in inclement weather.

3. Talk to your regular insurance agent about Antique Collector Car Insurance. Even though you don't drive it daily or even very far at a time, you still need car insurance and, to fully protect your investment, you need the right policy. Most insurance companies offer some kind of antique car insurance, but it may be better to go with a company that actually specializes in this type of policy.

4. Learn more about antique car insurance policies by searching online or talking to various insurance agents. It's important to know what is covered under this type of policy compared to the price involved. There are many areas of "special needs" that you will find in some policies, including those that allow you to choose where to get your car serviced, so you have the option of taking it where it will get the best repairs.

5. Research several companies that specialize in antique or "classic" car insurance policies to determine the difference between what each company offers. Collector car insurance differs from regular car insurance in that the premiums tend to be lower, but you have to keep the mileage at a certain rate. Some companies will allow you to choose a higher tier on the allowable mileage, but it will increase your premium.

6. Visit online websites like the Car Insurance Info Center and Know Auto Insurance, which offer information specifically about collector car insurance and links to companies that provide this type of coverage. These sites are a good place to find answers for first-time antique car insurance seekers.

7. Talk to other car enthusiasts to see who they use for their insurance. Compare their opinions to those you've already formed and determine which company has the most to offer.

Tips & Warnings

• Before deciding to use a regular insurance agent, speak with a company that specializes in antique car insurance to see if their policy would be better suited to your needs.
• Classic car insurance companies tend to have different options on setting the value of your car, including an actual, stated or agreed value. Be sure the value placed on your antique will cover any repairs or replace it completely, if the need should arise.
• Antique cars tend to catch the attention of a thief or vandal more so than a regular car. Due to the higher cost of repairs or replacement of these types of cars, this makes the proper insurance policy even more valuable.
• Some insurance companies may deny coverage if your antique car is not kept in a locked garage when not being driven. This can include leaving it overnight in a hotel parking lot when staying out of town.