You do not have to get antique plates to get classic car insurance. These are two separate matters.
Getting classic car insurance?
Classic car insurance is a type of auto insurance specifically designed for classic and collectible cars. Insurance companies typically have their own set of criteria to determine if a car is eligible for classic car insurance. This can include the age of the car, its condition, how often it’s driven, and where it’s stored.
However, having antique or classic plates can sometimes help establish that your car is a collectible and not a daily driver, which could potentially assist in the process of securing classic car insurance.
Keep in mind that every insurance company has different policies and requirements, so it’s always a good idea to reach out to potential insurers directly to understand what they require for classic car insurance.
Looking to buy a classic car? Check out these tips before you do!
Do I need classic car insurance?
Whether you need classic car insurance depends on several factors, and it’s not always a straightforward answer. Here’s a breakdown to help you decide:
Factors that make classic car insurance likely necessary:
- Age: If your car is 20 years or older, most states require at least minimum liability coverage, even for classic cars. Some states might have lower age limits.
- Value: If your classic car is valuable, rare, or has been extensively restored, a regular car insurance policy might not adequately cover its unique features and potential appreciation. Classic car insurance offers specialized coverage and valuation for such vehicles.
- Usage: If you plan on driving your classic car regularly, you’ll need insurance to cover potential accidents or damage. Classic car insurance might have mileage restrictions or specific usage limitations to consider.
- Storage: If your classic car sits in a garage most of the time and you only take it out for occasional shows or weekend drives, a collector car policy with limited mileage could be suitable.
Factors where regular car insurance might suffice:
- Newer classics: If your car is less than 20 years old, you might be able to get coverage under a regular policy, especially if it’s not particularly rare or valuable.
- Limited usage: If you rarely drive your classic car and only for specific events, you might be able to manage with a temporary insurance policy for those occasions.
- Low value: If your classic car is not particularly valuable, a regular policy might offer enough coverage, although you might still want to check the specific terms and limitations.
Ultimately, the best way to determine if you need classic car insurance is to:
- Contact your current insurance provider: They can assess your car and advise you on the best coverage options.
- Don’t have one? We suggest calling Mansour Hasan. Great guy and he loves insuring classic cars and trucks.
