Special insurance is something to consider if you own a luxury car. Whether it’s a classic, collectible, antique, or custom vehicle, certain cars are so unique that they’re irreplaceable. Even though you can’t always replace a lost, stolen, or damaged vehicle with the same model, you can protect its value with special auto insurance.
What Types of Vehicles Need Special Insurance?
Classic and custom cars need special insurance because of their uniqueness, which accounts for part of their value. There’s no standard definition for a classic car, but it generally tends to be 25 to 30 years old. Here are examples of vehicles that usually need special coverage:
- Antique, vintage, and classic cars that are still in good shape.
- Custom vehicles, especially those built by hand.
- The 50s/60s hotroads and modified cars.
- Luxury cars such as those driven by celebrities.
- Classic muscle trucks, cars, and motorcycles.
- Farming equipment such as tractors.
What Are the Qualifications for a Classic Car Coverage?
The age alone does not determine whether a car fits in the definition of classic or qualifies for classic coverage. In the insurance industry, a vehicle must meet the following criteria to be eligible for classic car coverage:
You can’t use a classic car for commuting or errands. The insurer might require you to have a different primary vehicle for everyday use.
Car shows & meetings
A classic car insurance plan allows driving your classic car to and from car shows and similar events. You can also drive the car to and from classic car meetings.
Secured in a locked structure
The vehicle must be stored in a secured location such as a locked garage or storage unit.
Clean driving record
Special auto coverage is typically only available to individuals with clean driving records. You likely will not qualify for this coverage if you have serious offenses on your record.
What Should Know You About Classic Car Policies
Do you need custom or classic car insurance in Calabasas, CA? Be aware that you may need additional coverage for special towing, spare parts, and specialized repair or restoration. Here are some key factors to consider for a classic car insurance policy:
Value of Car
Remember that a classic car has no definite “book value” for certain makes and models. So when you set up your special auto coverage, talk with your insurer about the car’s value. The value the insurer agrees upon will be your coverage amount without depreciation.
Specialized repair or restoration
The policy should be flexible enough for taking your classic car to a specialist for repair or restoration. It will likely cost more than what a conventional auto repair shop charges. You may have to make concessions or compromises when standard parts can only replace old parts.
Special towing and spare parts
Classic cars require extra care for towing, which is why special coverage costs more. Costs can also be driven up by hard-to-find spare parts, especially if the vehicle manufacturer has gone out of business.
Finding the right auto insurance can be like driving through a maze for some people. But you can accelerate your search by talking to our agents at Burton A. Harris Insurance Agency. We are happy to help you find the right auto insurance coverage.