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Posted by Anderson Restoration Parts on 16th Dec 2022
Car insurance is often very important for any vehicle owner, and those who own classic or vintage cars are no exception here. This is especially true due to the fact that classic cars often appreciate in value, compared to standard vehicles that typically depreciate with time - ensuring your vehicle is covered in case anything happens is therefore very important.
At Andersen Restoration Parts, we're happy to assist clients with a wide range of classic car needs, including every restoration part you might have a desire for - from ball joint sets and control arm sets to polyurethane kits and much more. We're also here to advise you on important areas like car insurance, including how certain restoration upgrades might impact your coverage in varying situations. Here's a general guide to obtaining the right insurance for your classic car: How insurance companies tend to define these vehicles, cars that won't be covered, and the specific kinds of coverage available to you depending on your needs.
While this will vary slightly between specific insurance companies, there tend to be a few standard definitions applied to the realm of "classic" cars - with some specific sub-categories to consider:
Now, some insurance companies may have even more detailed criteria on what qualifies as a classic car - and some might also apply different terms to their policies, such as "collectible" instead of "classic."
A wide variety of vehicles may fall under the above categories, including various car types - muscle cars, race cars, trucks, and so on. In most cases, even replicas will be covered in some way.
However, there are a few specific car types that will generally be off-limits for classic car insurance coverage. These typically speak to how the vehicle is used - classic car coverage requires "limited use" in most cases, so cars used for commercial tasks like taxi services or delivery work won't qualify. Additional exclusions may also apply if the car has been heavily modified from its original form, as this could affect its value and/or risk level for insurers.
For instance, most insurance companies won't insure a classic car if it's used for daily commuting or if it's used for racing. They also usually won't cover off-road or recreational vehicles, no matter how old they are, and commercial use vehicles tend to be excluded as well.
Finally, it's important to know what types of insurance are available for classic cars, and how they might differ from standard policies for modern vehicles. From a broad perspective, the basic types of insurance are similar or even identical to traditional vehicles:
No matter what type of classic car (or replica) you own, it's important to understand the specifics of your policy and how it applies - this will help ensure that you get the coverage you need for any possible incidents or accidents on the road!
On top of standard coverage types, classic car insurance will often come with additional options that you can add depending on your needs. These will naturally add to your costs, but they are often vital for protecting your vehicle. Some examples:
As you can see, there are a number of different types of protection available when it comes to classic car insurance. It's important to understand the specifics of your policy and how it applies - this will help ensure that you get the coverage you need for any possible incidents or accidents on the road!
For more here, or to learn about any of our classic car restoration parts or services, speak to our team at Andersen Restoration Parts today.