Classic car insurance is a specialized policy designed to protect antique or classic cars. According to the Insurance Information Institute (III), a car is considered classic if it is at least 25 to 30 years old.
Standard automobile insurance might offer some coverage for a classic car, but it often doesn’t cover its full value. Traditional policies calculate a car's value based on age, mileage, and depreciation. However, for classic car owners in Dunlap, Illinois, a classic car that has been customized or restored can be worth more than its depreciated value, necessitating more than basic auto insurance to cover repair costs after an accident.
Classic car insurance typically includes coverage options similar to personal auto insurance:
Liability Auto Insurance
Coverage includes damages and injuries you cause to others and provides legal defense if you are sued due to a car accident. In most states, having this coverage is required if you intend to drive your car on public roads.Â
Collision and Comprehensive Insurance
Covers a wide range of issues, including accident damage, theft, vandalism, animal collisions, fire, flood, hail, falling objects, and riots.
Uninsured Motorist Coverage
Compensates for your medical expenses if an uninsured driver hits you. Some states require this coverage, which may also cover automotive damage caused by an uninsured driver.
In addition to standard coverage types, classic car insurance can be customized with:
To qualify for classic car insurance, more than just the vehicle's age and value is considered. The III states that classic car insurance usually excludes daily driving and may impose mileage restrictions. Insurers may require proof of proper storage and another vehicle for regular use.
Some insurers permit driving the vehicle to car shows and auto club events, but specific coverage might be needed for such trips. In most states, having this coverage is required if you intend to drive your automobile on public roads.
If you plan to drive your car on public roads, you must have this coverage in most states.
Get in Touch
Contact Hecht-Stout Insurance Agency at 1715 Woodside Drive Dunlap, IL 61525, to learn more about coverage options and protect your classic car.
