Insurance for an Antique Automobile

Unless you are a car collector, you might experience a little confusion over the terms “classic car” and “vintage car”. While the terms are often used interchangeably when describing an old car that looks restores, the two-vehicle types are not the same.  The primary difference between classic and vintage automobiles is the age of the vehicle.

The Value of an Antique

For a vehicle to be considered a classic, it is should be over 20 years old. Cars that are over 45 years old are considered antiques, while cars built between 1919 and 1930s are labeled as vintage. However, car enthusiasts have differing opinions that those of the insurance companies, DMVs, and class car clubs. According to the experts at SB One Insurance, classics and antiques often share areas of overlap.

Protecting the Investment

Any older vehicle generally goes through significant restoration to be road-worthy, and although a collector may not take the car out for a spin, there is incredible value in the ownership. There are insurance companies able to offer coverage for these unique automobiles, although they have their own guidelines on the definitions of classic cars or vintage automobiles. How often a car is used, the condition, how it is stored and the vehicle’s age factor into the cost of insurance.

Work with a specialty insurance company for coverage on your classic or vintage automobile. Their policies are unique to the needs of a restoration vehicle.