How Do Insurance Companies Define a Classic Car?

HBW Insurance Group offers classic car insurance to residents of Catonsville, MD and surrounding areas. A classic car isn’t defined by its market value. Because of that, many insurance companies have different criteria when it comes to insuring a classic car. But, what is it about a car that makes it “classic” to an insurance company

What Kind of Classic Is Your Classic?

Several types of cars can fall under the classic car category. Sometimes you can see car insurance for antique cars, exotic cars, collectible cars, or vintage cars. All of these can fall under classic car coverage in the eyes of insurers.

Remember, calling a car a classic is incredibly subjective. Because of that, many insurers set criteria that establish whether your car qualifies as a classic or other designation that requires special insurance coverage.

What Criteria Can Make A Car a Classic?

An old car isn’t exactly a classic car, but cars older than a decade represent a start. Age can factor in, but some other criteria can include:

  • How often you use the car, the less the better
  • Whether your car routinely goes to car shows or meetings
  • How you maintain and store your car
  • How much restoration or preservation you applied to the car

This all means it’s usually up to you to prove your car is a classic that requires classic car insurance coverage.

What Does Classic Car Insurance Cover?

Classic car insurance includes the kind of liability and property damage coverage you would expect from any car insurance in Catonsville, MD. However, you will have to establish a value for the car with the insurer. That value can change what kind of coverage you need.

In addition, classic car values can change over time, so you may have to occasionally update your insurance. Classic car insurance can vary depending on the car and your needs. Contact an HBW Insurance Group agent to learn more about insuring your classic car.