Insuring Your Vintage Automobile

An antique vehicle requires specific insurance, especially if it is a collectible. An antique car is usually over 45 years old. When repairs are made, it is essential to keep all the parts in alignment with the specifications of the original manufacturer. There are many things about insuring an antique vehicle that differs from insuring a newer automobile, which includes:

  • Insurance values for antique vehicles usually increase, rather than decrease, over time.
  • Antique collectible vehicles are rarely driven because they have greater value with low mileage.
  • Some insurance policies for antique vehicles place restrictions on where the vehicle can be driven, such as only in car shows, at parades, or other special events.
  • Because they are not driven very much, if they are put on display, they need to be transported by truck and be insured during transport.
  • The insurance company underwriter and the antique car owner need to agree on the replacement value price. This can sometimes be determined from a price achieved by a recent auction of a similar vehicle.

Antique cars are different than vintage cars and classic cars. Vintage cars are usually ones that were made during the 1920’s and 1930’s. Classic cars are at least 20 years old and not more than 40 years old. Vintage vehicles can also be antique cars; however, not all antique cars are vintage cars. Ask your agent at Rising Star Insurance in Saint Paul, MN if you have any questions.

The good news is that even if an antique car has a high replacement value, the fact that it is infrequently driven can keep the insurance premiums at a very modest level. Antique vehicles are typically stored in a garage and continued to be restored, rather than spending much time on the road.

If you own an antique car or are planning to buy one, contact your agent Rising Star Insurance, serving Saint Paul, MN, and the surrounding area, to get a quote for new coverage or to upgrade existing coverage. Our agents are waiting to help you get started.