3 Important Things To Understand When Shopping For Auto Insurance Coverage For Classic Cars

Are you planning to purchase a classic car for the first time? If so, you are likely excited. Perhaps this is the beginning of a plan to become a vintage car collector. There are special considerations you need to keep in mind about auto insurance coverage. Your plans might not include a lot of driving, but you need to have insurance even if you will consider it a "show car." The following points identify things to keep in mind as you prepare to insure the vehicle.

Determine the Classification

Drivers cannot merely assign the title(s) of vintage or classic to their vehicles and express interest to insure them. There are classifications for older vehicles. The classification used for older vehicles will be based on when they were manufactured. These vehicles are often referred to as collectibles. Sometimes drivers assume they have collectibles but find out that their vehicles might not fit the insurance classifications. The year of manufacture and/or certain specifications such as the engine type, the number of doors, body type, and whether a vehicle is foreign or not are all factors that are used to determine an accurate classification for insurance purposes. 

It is possible for individuals to get this type of insurance on vehicles that are considered newer than traditional classic cars. Vehicles in this classification might be considered collectibles if they have special exotic features or a limited number were produced and thus considered rare.

Determine State Guidelines

There are statutes that govern insurance coverage. Some states have age groups that vehicles must fall into to be considered classic vehicles. These vehicles must be a minimum age. It is not uncommon for some drivers to keep cars for many years in pristine condition to ensure they age and qualify for this distinct classification. Insurance companies may have leeway to offer coverage for vehicles that have not aged if there are special circumstances such as the ones previously mentioned.

Determine Usage

Drivers must adhere to the terms in their auto insurance policies. It is important to note that classic auto insurance coverage will likely outline how many miles the insured vehicle can have in a year. This is why many owners haul their treasured vehicles to car shows. The insurance policies are specific about the mileage allowances. Drivers should not expect to be able to get classic insurance coverage on a vehicle that they will use as their main vehicle, even if it is exotic and worth thousands of dollars. An auto insurance agent can be a good resource to use to understand more about insuring classic vehicles.