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Classic Car InsuranceClassic Car Insurance A classic or antique vehicle is typically defined by its age at the time when vehicle registration is sought and varies according to the state. In Virginia, the qualifying age of a classic vehicle is 25 years and in Connecticut, 20 years. Pennsylvania defines a classic as "a motor vehicle, but not a reproduction thereof, manufactured at least 15 years prior to the current year which has been maintained in or restored to a condition which is substantially in conformity with manufacturer specifications and appearance." As a general rule, most insurance companies view any car over 25 years old as a "classic." Some classic car insurance companies have conditions that must be met before they will issue a classic car insurance policy. An appraisal or value documentation of your classic car may be required. Although classic car insurance usually has all of the advantages of a standard automobile policy, it normally comes with limits on the number of miles the car can be driven monthly or yearly (ranging from 1,500 to 7,500 miles annually depending on the age of the car.) There are usually limits on the distance your classic car can be driven from your residence. Some policies may have additional restrictions, such as limiting usage to parades, classic car shows and organized meets. You should compare policies carefully so the policy you choose meets your particular needs. If you own a vintage or classic car, such as the 1963 Chrysler in the picture to the right, you may be eligible to purchase insurance coverage that costs significantly less than normal coverage. Depending on the vehicle's primary purpose and how much you drive it, you may be able to get classic car insurance at a very low cost. For example, a stock car valued at $10,000 could be insured for as little as $110 per year. Understanding Classic Car Insurance PoliciesIt is important for the classic car owner to understand how these policies work, which carriers provide them, and how you can get this type of insurance. Hagerty Insurance, J. C. Taylor Insurance, and Grundy Insurance are some companies that offer antique auto insurance. The J. C. Taylor Antique Automobile Insurance Company, in Pennsylvania, has over 50 years experience insuring classic cars. Grundy Worldwide Insurance, also a Pennsylvania company, has provided automobile insurance for more than 1.5 million antique, vintage, and collector cars over the past 60 years. Hagerty Insurance provides coverage for vehicles that are used on a limited basis for classic car club functions, exhibitions, organized meets, tours and limited pleasure driving. They also require collector vehicles to be stored in a fully enclosed, locked garage when not in use. You can certainly understand why it would be important to have protected storage for the 1901 Oldsmobile in the picture to the right, which actually meets the vintage car criteria (older than 1925). Most vintage car owners are actually quite particular when it comes to where they store their "toys." The driving history of the person seeking insurance coverage is another consideration. One or two minor traffic violations or accidents would generally be acceptable. However, they will not offer coverage to a driver with a major infraction within the past 3-6 years, such as an alcohol-related offense, reckless driving or an excessive speed violation. In addition, applicants must have five or more years of driving experience in Louisiana, Massachusetts, New Mexico, North Carolina, Virginia and Washington. An underwriter reviews the driver's records of all household members. Understandably, they are careful to issue insurance policies to classic car owners with good driving records. Purchasing the right insurance is important so you can protect your investment in your classic car and enjoy it for many more years to come. Submit your information today to get a competitive classic car insurance quote. Classic Car Insurance ArticlesBelow is a list of articles we have put together for you and your research related to the topic of classic car insurance.
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