Vintage and classic cars are more than just vehicles – they're a life hobby, a real passion, a more-than-treasure, that's why they often need specialized classic vehicle insurance plans to safeguard them from harm and enhanced theft danger. Taking care of classic car is completely different and not all repair stores know how to care for the engine. Here are things you should know before buying a classic car insurance.
Antique, Vintage And Classic
While the words "antique", "classic" and "vintage" appear to be interchangeable, they are effectively very distinct names. Antique cars are usually cars that are over 45 years old and maintained the original specifications of the manufacturer. State law, however, determines what qualifies as an antique, and vehicles in this category often need a special license plate. So always inspect the legislation in your state. A classic car implies bringing to its care a distinct strategy.
Vintage cars can be antique and some antiques can be vintage. Usually we consider the cars manufactured between 1919 and 1930 as vintage cars. Classic cars must be at least 20 years old, and not over 40. Cars should remain true to the initial design as with antiques – but those modified with aftermarket touches can still qualify as a real classic car.
Classic Car Coverage
You will rapidly find out that insuring the family car is not the same in the case of antique, vintage or classic cars. If your car is a collectible, you're going to want to look at a policy for collectibles specifically. While your regular vehicle is insured with the concept that it depreciates its value almost instantly after you purchase it, a classic or antique vehicle can appreciate its value–especially if you plan to restore it with job.
You may find that your classic or antique car's premium is lower, even though it may have a higher cost of replacement. That's because collectibles like classic cars, vintage cars and antique cars tend to spend more time "posing" in the garage than "engaging" on the road. Depending on its designation, only certain car club events, parades or other special occasions may restrict your car to driving. It is important to know if your car will mainly be used for shows rather than regular driving when exploring coverage options.
Because insurance rates may vary, make sure you discuss whether your car is antique, vintage or classic with your agent.