What is Collector Car Insurance?

What is Collector Car Insurance?

If you own an antique or collector car, you want to protect your investment for many years to come. This means not only keeping it in pristine condition, carefully sheltered and serviced but also having the right type of insurance for it. When it comes to these special vehicles, you need to find a classic car insurance policy that will give you the coverage you need and peace of mind that your prized possession is protected.

To learn about what collector car insurance is and what it covers, keep reading below.

What Cars Are Covered?

There are some guidelines regarding what type of vehicles classic car insurance can cover. Typically, the following are eligible to be covered:

  • Classic and antique cars
  • Utility vehicles and classic trucks
  • Classic military cars
  • Modified cars such as replicas or hot rods
  • Modern collectibles (1980-2000)
  • Vehicles under restoration

Qualifying for Classic Car Insurance

It is important to note that while your vehicle may fall into one of the categories listed above that other factors such as how your vehicle is stored, how much it is used as well as your driving record will be considered for whether you qualify for classic car insurance coverage.

For starters, to qualify for this type of insurance, your classic car cannot be your regular day-to-day vehicle. Also, with most insurance carriers, for cars 25 years and older, they can only be driven to a certain number of maximum kilometres per year. Depending on the insurance provider, you may need to follow certain storage guidelines such as keeping your classic in a secure garage to help prevent theft or damage from extreme weather.

The good news is that the premiums for classic car insurance are typically lower than standard auto insurance coverage and our experienced professionals at Bow Valley Insurance can shop and price compare to find you the best rate.

Why Should You Get Classic Car Insurance?

Your regular car insurance is not enough protection for your classic car. With standard auto insurance, over time the value of your vehicle depreciates. With classic cars, under most circumstances, they increase in value as the years go by and you want to be properly protected for your investment should the unthinkable happen and your classic vehicle gets seriously damaged. Classic insurance coverage will still cover for collision and liability should you get into an accident while driving your vehicle.

Classic Car Endorsements

There are several different endorsements that you may want to consider with your classic car insurance policy. These can include specialty towing services to ensure that your classic is handled with the utmost care should it break down as well as options to have original replacement parts covered.

To find the best classic car insurance at the lowest possible rate for your prized vehicle, contact a member of the Bow Valley Insurance team for a free, no-obligation quote today.