How Old Does a Car Have To Be To Get Classic Insurance?

September 13, 2022

How Old Does a Car Have To Be To Get Classic Insurance?

Classic car insurance provides valuable protection that every owner of an older vehicle should have. But how old does a car need to be to qualify for classic insurance? We answer that question and much more in our helpful guide to classic insurance!

How Old Does My Classic Car Have To Be To Get Collector’s Insurance?

Everyone can have different definitions of how old a vehicle should be to be considered a “classic car.” For some, a car must be decades old to be considered a classic, while others think 21st-century models are classics now. But how old does a car have to be for classic insurance?

Unfortunately, there’s no straight answer because it ultimately depends on the insurance provider. The minimum is ten years, but a standard sedan from 2012 probably won’t meet the classic car criteria. If you’re looking for a general idea, most insurance providers consider about 25 years the cutoff for classic insurance. However, you’ll have to research the individual provider you’re interested in to confirm.

What Is Classic Car Insurance?

If you’re not familiar with classic car insurance, let us explain it further! As we all know, classic cars aren’t like typical everyday vehicles, so they require a different form of car insurance than you would have for a regular vehicle.

Classic or collector’s insurance is a policy specifically for older models that aren’t intended for everyday use and are typically more expensive. But collector’s insurance isn’t just for classic cars. Other vehicles that classic insurance can cover include:

  • Vintage military vehicles
  • Old motorcycles
  • Antique farm vehicles
  • Hot rods

If you own any of these vehicles, you can get them covered by a classic car insurance policy.

Does Regular Insurance Cover Classic Cars?

Can’t you get regular car insurance for my old-fashioned ride? Yes, but that wouldn’t be wise.

While some insurance providers will cover a classic car with a standard policy, it likely won’t cover the full value and will probably cost more than collector’s insurance.

A standard insurance policy for a regular car will consider things like mileage and age and assume that the vehicle will depreciate as it ages. As any classic car owner knows, a classic car’s age increases its value instead of worsening it—which a collector’s policy takes into account.

Plus, older vehicles cost more for repairs and restoration, and a standard policy for an everyday car likely won’t cover all the costs for such repairs.

What Does Classic Car Insurance Cover?

Classic car insurance covers the same things a normal insurance policy would for an everyday car—collision coverage, comprehensive coverage, property damage, bodily injury liability, and more. What’s unique about classic insurance is that it values the vehicle differently than an everyday car.

Instead of referencing the Kelley Blue Book or MSRP value of a vehicle, an insurance provider will typically hire an appraiser to estimate the vintage vehicle’s value. The process is closer to getting insurance for an asset like an art piece than an everyday vehicle. And there’s room to reassess the car’s value later on as the vehicle ages.

What Are the Qualifications for Classic Car Insurance?

We’ve discussed the age qualifications for classic car insurance, but what else does a vehicle need? As we mentioned, much of it comes down to the insurance provider, as each has its qualifications, but there are some general guidelines most providers follow.

A general timeframe of 25 years is a good start for a classic car, but you also shouldn’t use the vehicle for your daily commute, as some insurance providers have mileage limits. You may even have to provide proof of an alternative vehicle so that the insurance company knows you don’t drive the classic car all the time.

Shop around different insurance providers to find a plan that best fits your vehicle. If you get denied at one company, that’s okay—you could qualify at a different company.

What Are the Benefits of Classic Car Insurance?

Is getting classic car insurance worth it? What are the benefits?

Tailored to Your Classic Vehicle

The primary advantage of classic car insurance is that it’s tailored to your specific vintage vehicle. Every classic car is different, and collector’s insurance understands this, using different appraisers and criteria for value than everyday models.

Classic cars are like owning a valuable commodity—a piece of art—and every art piece has a different value depending on condition and rarity. The last thing you want for a valuable asset like a classic car is an insufficient, one-size-fits-all insurance policy.

Repairs for Old Vehicles Are Expensive

Every classic car owner knows that maintenance and repairs are more expensive than they are for a standard vehicle. Finding the right parts or even an auto shop with the right equipment, skills, and experience to work on the vehicle could be challenging, especially for old cars.

A vintage ride is likely to take longer and cost more to repair. A standard auto insurance policy won’t cover the extensive costs needed to bring a damaged classic car to its former glory.

Can Add Increased Replacements Costs Coverage

A valuable option for classic car insurance is that owners can get coverage for increased replacement costs. As we know, a vintage rid can appreciate in value as it ages, becomes rarer, and stays in mint condition, leading it to be worth more than the initial collector’s policy covered.

But if your car is totaled years after taking out the policy, you could be out hundreds or thousands of dollars. Increased replacement costs coverage accounts for this difference, enabling you to get the full value.

Cash Settlement Option

As we’ve mentioned, repairing a classic car is easier (and cheaper) said than done. If your antique ride is severely damaged, you may be ready to move on to something else instead of undergoing extensive repairs and restoration.

A cash settlement option in a collector’s insurance policy allows car owners to take the vehicle’s cash value for themselves with no requirements to seek repairs or a replacement vehicle.

Coverage for Auto Shows

If you plan on taking your classic ride to an auto show, you’ll want to seriously consider a timeless car policy with coverage for auto shows. Accidents and collisions can happen anywhere—especially when hundreds of old vehicles are concentrated in one small area!

Auto show coverage takes care of damages sustained at an auto show. You can even get a policy that covers your classic car at an auto show, even if you’re not personally there.

We hope you’ve learned what you wanted to know about classic car insurance! If you have vintage vehicle-related questions, don’t hesitate to contact Ideal Classic Cars. View our selection of classic cars online in the USA and speak to our staff of experts who are eager to help!

How Old Does a Car Have To Be To Get Classic Insurance?