Antique Auto Insurance

Antique auto insurance is a specialized form of insurance.  The consumer seeking coverage of his or her antique or vintage automobile is not wise to place the car on his or her standard automobile policy.

Why is this so?  One thing is certain:  Your reliable old vintage is generally not a day-today- vehicle.  Standard automotive polices are pertinent to cars used for strictly utilitarian purposes:  such as a commute to and from work; or taking your children to and from school; and extra-curricular school activities.

 Vintage models are generally (just) driven to special car show events.  In light of the preceding, it is advisable you never place your antique automobile on a standard policy (designed for depreciable vehicles).  There are several reasons for this beyond the reason just provided. 

The following provides (specific examples) of why it is important you insure your antique or vintage automobile on an antique auto insurance policy; or a policy specifically designed for the purpose. 

1. First, your vintage car has, more than likely, received a good bit of restoration.  The rehabbing of a vintage normally adds to the car's overall value.  It makes little sense, then, to place a vintage car on a standard automotive insurance plan.  The standard plan reimburses you for the depreciable value of the car when you become involved in an accident:  this, again, is not what you wish to receive with respect to your collectible car.
2. Second, an antique auto insurance provider is useful to the vintage car owner in that he or she provides payment of a claim based upon an agreed upon price between him or her and the insured upon signing of the policy.  In other words, this means you will receive the prior “agreed upon” value of the car rather than its depreciable price should an accident occur.  Standard policies, once again, do not take into account, the restored value of your vintage automobile.

The antique auto insurance company and its respective agent understand the tremendous pains you have taken in order to rehabilitate your classic car.  He or she is aware your vintage is not a vehicle used for utilitarian purpose; however, fits categorically under the heading of collectible.  This is why (once again), for the reason just conveyed, it is necessary you cover your vintage against financial loss using an antique auto insurance policy.

Further, the specialized policy is probably not as costly as you may have first imagined, considering the only time you probably have occasion to drive the car (in the eyes of your agent) is (generally) to and from car shows. 

Certainly, a person who has invested a great deal of time and money into the restoration of a car will wish to minimize the time spent driving it in order to minimize mileage which accumulates when so doing.  In other words, since you have less occasion to drive your classic or antique, you are at less risk of becoming involved in an accident (than would be the case with your vehicle used for day-to-day travel). 

In summary, if you have restored a classic car wherein, you have increased its value; you will require the type of coverage reflective of the fact.  This requires you (once again)seek coverage in the form of antique auto insurance.