Should I Insure my Classic Car with a Regular Auto Insurance Policy or Classic Car Insurance?

​When you have a nice classic car or antique car, it's important to get the right auto insurance coverage on it. And for most classic cars or collector cars, exclusive classic car insurance is almost always better than regular car insurance. This blog entry explains why classic car insurance is by far better than insuring your classic car with regular car insurance.


However, before you can insure a classic car with a classic car insurance policy, there are certain qualifications that need to be met. The most important qualification being that you do not use this vehicle as your regular vehicle. Classic car insurance companies are going to want to see proof of insurance on other vehicles on a regular car insurance policy that you drive on a regular basis before they'll write your classic car under a classic car insurance policy. As long as you're not driving your classic car on a regular basis, and you can show that you have insured regular cars on a regular auto insurance policy, there isn't a problem.


Another qualification is the age of the vehicle. However different companies have different guidelines about what qualifies as a classic auto. But the general standard with most companies is usually 25 years. Each classic auto insurance company is a little bit different in other qualifications. But for the most part, those are the two main things are use and age of the vehicle (and of course, age doesn't always apply with special edition collector cars and exotic vehicles).

​Why is classic auto insurance better than regular auto insurance? There're several reasons for this:

• Insurance is cheaper. With classic auto insurance, the companies realize that you're not driving this vehicle on a regular basis. Therefore they don't charge dollar for dollar nearly as much as what a regular auto insurance company does for regular use. Thus you get better coverage for less premium!

• Another benefit of having classic auto insurance is having the experience and expertise that a claims adjuster brings to the table. What's great about classic auto insurance companies is that their claims adjusters specialize in classic vehicles. They know and understand how difficult it can be to replace or repair a classic vehicle. You don't get this kind of experience and expertise when dealing with a regular auto insurance company. Not even close!

• For those of you who own multiple classic or collector cars, another big advantage with the classic auto insurance policy is that you only pay one liability premium for all vehicles. This is unlike regular auto insurance, where liability premiums are placed on all vehicles insured under the policy.

• Another reason why classic car insurance is better than regular car insurance are the special coverages involved. Classic car insurance policies offer things that most regular auto insurance policies don't offer. Examples would include zero deductibles, special accessory coverage, and other coverages that solely pertain to classic cars.

• Agreed value coverage. Having agreed value coverage with classic car insurance policy is very important. That's because most vehicles depreciate, whereas classic cars stay the same or even appreciate. Factoring in appreciation it's not going to happen with a regular auto insurance policy. Most regular auto insurance policies will only offer coverage on an actual cash value basis (market value) once a vehicle reaches a certain age. That's why you really need classic auto insurance in case of a total loss. That way, you know exactly how much your vehicle is insured for.

Do I need to get an appraisal?
With many classic car insurance companies, you will not be required to get an appraisal unless there's no other way to determine the vehicle's value. With most companies, you simply might have to send in a few recent pictures that clearly shows the vehicle up close. That's usually the standard.

   How does the quote process work?
The quote process is really no different than getting a quote for any other type of insurance. But the most efficient way is to get a classic car insurance quote is with an independent agent, as opposed to getting a quote one company at a time.

   Which classic car insurance companies does Lyles Insurance represent?
The three companies I carry are Hagerty, JC Taylor, and American Collectors Insurance.  All three companies are amongst the top of classic car insurance companies. All you need to do is fill out one quote form and I will do the shopping for you with each company. Once we run your quote with the coverage levels you select, I will  find out for you which of the three companies comes out with the lowest rate. And as always, I handle all quotes personally and privately.




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Related Blog Articles:

​Video: Comparing Classic Car Insurance Cost & Coverage vs. a Regular Auto Policy

​Video: Basics of a Classic Car Insurance Policy

Classic Car Insurance in Ohio: Key points to look for in finding the best coverage