How to Insure Classic Cars

Classic cars are often admired at car shows for their old-fashioned look, meticulous upkeep and the memories they conjure up of days past. Because owners and collectors of classic cars spend much time and money building up their collection, it is important to insure the cars against theft or damage.

Instructions

Difficulty: Easy

Things You’ll Need:

• Classic car
• Insurance application
• Insurance premium fee
• Garage or other car storage area
• Car for everyday use
• Driver's license

Insure Classic Cars

1. Maintain your classic car in excellent condition. Insurance companies want to see classic cars that are well preserved and cared for when they determine the level of coverage you require.
2. Provide proof that, in addition to your classic car, you own a vehicle that you use for transportation to and from work and around town. You cannot insure classic cars if they are used for regular transport. The registration of your regular car can be used as proof.
3. House your classic car in a garage or other facility that can be locked. Classic cars are often noticed on the street because they are unique and are therefore more vulnerable to theft.
4. Be an experienced driver. Some classic car insurance agents require their clients to be of a certain age while others require a particular number of years' experience driving.
5. Fill out an insurance application with the agent you have chosen. You will need to know your classic car's make and model, the year it was produced and its value. If you do not know the value of your car, have it appraised by a professional appraiser specializing in classic cars.
6. Take pictures of your classic car from various angles. You may be asked to include photographs with your insurance application.
7. Wait to find out whether your car has been accepted by the insurance company. If you filled out your application online, it may be a very quick turnaround time.
8. Pay the insurance premium for your classic car as specified. Be sure to update your policy if your car has substantial work done on it.

Tips & Warnings

• The Classic Car Club of America (CCCA) invented the term "classic car" and defines it as being an automobile that was built from 1925 to 1948. The Antique Automobile Club of American uses the word "antique" for any car that is older than 25 years old. Check with your insurance company to know what definition they use for classic cars.
• If you are in the process of restoring a classic car for which you seek insurance coverage, tell the agent an expected date of completion for the project. Some insurers will not fully insure a car that is being restored, but will draft a tentative policy to use when the restoration is finished.