How Old Does a Car Have to be to Qualify for Classic Car Insurance?

Row of classic cars

When you own a vintage or classic car, you need peace of mind that it is protected. Different from standard auto insurance is classic car insurance which is designed for antique and collectible vehicles. While the majority of classic cars that qualify for coverage have to be at least 25 years of age, there are some exceptions. Below, we will explain more about classic car insurance and what it covers.

What is Classic Car Insurance?

Classic car insurance is designed for collectible and antique cars that owners have for pleasure or investment purposes. Since a classic car is nothing like the day to day vehicle you use to get around and travel, its insurance needs are different as well. Finding the right policy at a competitive rate will give you the coverage you need.

How to Qualify For Coverage?

To qualify for classic car insurance coverage, your vintage vehicle cannot be your everyday car and cannot be driven more than 8,000 kilometers per year. In most circumstances, the vehicle needs to be over 25 years of age, although this can vary by insurance carrier. Some may consider newer vehicles to be considered classic, and others may not deem certain vehicles mass produced during the 70’s and 80’s as eligible. Furthermore, the cars need to be fully restored and in good working condition.

Why Do You Need Classic Car Insurance?

A standard auto insurance policy is not enough for a classic car. With your regular auto insurance, the value of your car depreciates over time, meaning that as the years go by, you will get less of a payout in the event of a total loss. In most circumstances, classic cars actually gain value as they age and if it was insured under a standard policy, you could risk losing a substantial amount of money if it is extensively damaged.

That being said, classic car insurance still provides the same coverage for collision and liability and is usually at a lower cost since the vehicle is only being driven a limited amount of time. For insurance companies, the less time a vehicle is on the road translates into reduced risk of getting involved in a motor vehicle accident.

Different endorsements can also be added which may include specialty towing services or original replacement parts. We can do the shopping for you to ensure your valuable classic car is adequately insured.

What Are The Top Types of Classic Cars?

The most commonly insured cars under the classic car insurance category are:

  • Antique – cars built between 1896 to 1948
  • Classics – built between 1924 and 1948 featuring custom coachwork
  • Post-War – popular cars manufactured in the years following World War II
  • Military – retired, de-militarized vehicles from 1985 and older
  • Tractors – restored vintage models 30 years of age and older
  • Muscle Cars – American made, V-8 engine cars made between 1968 and 1972

For more information on classic car insurance and to get a free, no-obligation classic car quote, contact an insurance specialist at Bow Valley Insurance today.