Do you like the classic car era of the 50s? Are your interests more focused on the dawn of the automotive era, such as the Model T and Model A? Perhaps you are more interested in the muscle cars of the 60s or the classic luxury cars like Rolls Royce and Bentley? Whatever your niche or automotive era, you need classic car insurance to cover your investment. Standard auto insurance only works for cars newer than twenty or twenty five years old and if your vehicle is at the end of that age range you will find that coverage is very limited as the actual insurance value for the vehicle is much less than what would be a fully restored collector’s vehicle.
There are a number of companies that offer antique car insurance and none of them are the major insurance giants. You cannot go to an insurance website like esurance.com. insureweb.com or insurance.com to compare your collection vehicle policies. You have to contact the different companies directly to get individual quotes and then compare them manually yourself. Antique cars generally fall into three categories based on the age of the vehicle. The first category is vehicles older than twenty years. The second category is for vehicles produced before 1903 and those produced between 1903 and 1933.
In general, cars depreciate with age, while antique cars that have been restored or are in original condition increase in value over time. Because of this factor, most antique auto insurance policies require a professional appraisal to determine the value of the vehicle. If you are transporting your vehicle instead of driving it to shows, there are special policies to cover your vehicle in transit.
You do not have regular comprehensive and collision coverage, although there is still coverage for uninsured and underinsured drivers, as well as property damage, medical coverage, etc. Since a collision cannot be estimated due to the lack of available parts, you can go for months without your antique vehicle while it is being repaired. If your vehicle is in the gray area near when antique vehicle coverage begins and regular auto insurance ends, you may want to opt for the more expensive antique auto insurance because even though you may be purchasing the higher premium full replacement insurance for your vehicle that provides coverage. usually limits you to a comparable new vehicle rather than a fully restored antique vehicle.
JC Taylor is a company that offers two types of policies. One is for vehicles over the age of 19 and includes farm tractors, military vehicles, antique vans and, of course, automobiles. The second type of policy covers custom vehicles, including street rods, custom kit cars, exotics, rare cars, hot rods, replicas, and custom vehicles. Their coverage covers the entire United States and pays the “agreed value” based on market conditions and the condition of the vehicle with no excess in case of loss.