If you have a “classic” car, you probably can insure it much less expensively if you purchase a Classic Car of Antique Car policy, but there are very strict guidelines that apply.
Here are six common restrictions:
- Age: Most companies set 25 years as the minimum age for an “antique” car, but “classic” cars might be younger if they are so designated by car clubs or have unique value for other reasons such as limited production or other collectible features.
- Driving limitations: Most policies prohibit use of the car on a daily basis, or as a substitute vehicle or for other activities that would not normally be associated with a classic or antique car. There are also almost always mileage restrictions, and prohibitions for use in racing or rallying.
- Condition: In addition to age, the condition of your car is important. Any un-repaired damage or obvious wear and tear such as a torn convertible top, will usually make those carriers turn away from your car until you can demonstrate that it is in good repair.
- Garaging: Most carriers will insist that your car is stored in a garage which is completely enclosed and protected.
- Attendance Clauses: Some policies require that the owner be physically present with the vehicle whenever it is out of the garage. This is a very restrictive clause and not all carriers have it, but most prohibit other people from driving your car.
- Roadside Assistance: This coverage is available from most Classic Car insurance providers as a standard or additional cost option.
As always, as your company or agent to help when you are purchasing this type of policy.
If you have questions, call Burns & Cotter, Inc. and ask us to help.
Phone: (401) 421-0100 Fax: (401) 421-2376