Classic Car Auto Insurance

Antique Auto Insurance
For those of us that love classic cars, muscle cars, antique cars, whatever you classify them as, we know that having the right antique auto insurance to match your car is important. Too many of us in the past get into the hobby and just use the everyday insurance companies. I did this in the too. I had my daily driver car with Allstate and just added my 1965 Mustang Convertible to my policy.

The problem was that the coverage is either on or off, meaning when you live in the north you can only drive your car on average 6 months out of the year. If your policy starts in February and ends in August – what good is that?

Antique auto insurance is taylored to the classic car and owner not the insurance company. I personally use Hagerty and have for over 22 years. You pay a yearly rate and based on where you live the coverage is on 24/7 all year. Of course most of us only drive our cars to shows and classic car cruises during the summer months. So it’s a good deal for both the antique auto owner and the insurance company as compared to a daily driver car. Most classic cars are only on the road an average of 500 miles a year. So the risk of an accident or claim is very very low. In years past I would drive my regular vehicle 40-50K miles a year all over the USA! I guess what I’m trying to say is that you would pay more for a lot less coverage when using an Allstate, Progressive or other every-day insurance company.

Antique Auto Insurance vs. The Big Guys

Some of the bigger names in antique auto insurance are on this site for your reference. Depending on the type of classic auto you have and driving frequency you do, certain companies will better suite your needs. The key thing to remember is shop around and compare apples to apples when talking to each agency. If you have 1 or more classic cars, each one might be used differently so make sure you tell your agent what the purpose is for each car. You might have a concours 1939 Lincoln Zephyr that you only take to high-end shows. Or you might own a AC Cobra replica that you drive to work on occasion and race at the track or dragstrip. Whatever the case may be, don’t sell yourself or your car insurance coverage short and misrepresent the usage of the vehicle. This can hurt you in the event of a claim. If your policy does not have a track or racing rider than you could stand to lose big-time if you are to wreck it.

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This entry was posted on Thursday, November 18th, 2010 at 8:22 am and is filed under Collector Cars. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.