Owning a classic or antique car is more than just a hobby; it’s a passion that requires special care and attention, especially when it comes to insurance. Unlike modern vehicles, these timeless treasures have unique needs that standard auto insurance policies may not fully address. From agreed value coverage to specialized repair options, understanding the specific considerations for insuring classic and antique cars is essential for protecting your investment and helping to ensure your prized possession remains in pristine condition for years to come. 
Insurance for Classic and Antique Cars
The following are some special considerations to keep in mind when insuring these automotive treasures:
- Agreed value coverage—Unlike standard auto insurance, which typically covers the depreciated value of a vehicle, classic car insurance often uses an agreed value policy. This means the insurer and the owner agree on the car’s value upfront, helping to ensure that in the event of a total loss, the owner receives the full agreed amount.
- Usage restrictions—Classic and antique cars are usually not driven daily. Insurance policies for these vehicles often include mileage limitations and usage restrictions, such as only allowing the car to be driven to car shows, exhibitions or occasional leisure drives. This helps keep premiums lower while helping to ensure the car is financially protected.
- Storage requirements—Proper storage is crucial for classic and antique cars. Many insurance policies require that these vehicles be stored in a secure, enclosed garage when not in use. This reduces the risk of theft, vandalism and weather-related damage, which can help lower insurance costs.
- Specialized repair and restoration coverage—Repairs for classic and antique cars can be costly and require specialized knowledge. Insurance policies often include coverage for the use of original or high-quality reproduction parts and may cover the cost of labor from specialized mechanics. This can help ensure that the car is restored to its original condition after an accident.
- Spare parts and accessories coverage—Owners of classic and antique cars often keep spare parts and accessories on hand. Some insurance policies offer coverage for these items, protecting the owner’s investment in maintaining the car’s authenticity.
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Contact PAC Insurance Agency today to discuss your insurance requirements.
This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.