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What Kind of Insurance Do You Need for a Classic Car?

Eisenhauer Insurance Classic Car

Vintage cars and collector hot rods are different from your average, commuter vehicle. For instance, they aren’t used for running errands around town. These precious relics are only driven occasionally and remain safely stored most of the year. Unsurprisingly, they require special car insurance coverage. Here’s a look at how classic car insurance works and what kinds of vehicles are eligible for it.

Benefits of Classic Car Insurance There are several benefits to purchasing classic car insurance for your rare vehicle. For example, standard car insurance only covers a vehicle’s replacement value. This value is based on the car’s mileage, age and depreciation value. However, most classic cars have been restored or customized, making them worth far more than their age and mileage would indicate. Fortunately, classic car insurance takes this into account. Moreover, like home insurance, classic car insurance gives you the flexibility to adjust your vehicle’s coverage to reflect its actual value. Therefore, another advantage of purchasing classic car insurance is that it helps pay for specialized repairs and restorations. For instance, replacement parts are difficult to find, and custom modifications are costly. Eligibility Requirements for Classic Car Insurance Just because a car is at least 25 years old doesn’t mean it automatically qualifies for classic car insurance. Several other factors determine a vehicle’s eligibility, like:

  • The car must not be used as a primary vehicle

  • The car must have a low yearly mileage

  • The car must be stored in a secure, fully enclosed garage when not in use

  • The car must be in good, regularly maintained condition

  • The car owner must have a good driving record

The definition of a classic car is different for each insurance company. Therefore, it’s a good idea to discuss your specific car with an Eisenhauer insurance agent to find out what type of coverage your car is eligible for. Your Trusted Insurance Broker in Nova Scotia At Eisenhauer Insurance Inc., we understand how important it is to find the right insurance policy for your specific needs. We’ve been serving Halifax and the surrounding areas since 1980 and diligently maintain an A+ rating from the Better Business Bureau. We offer a full range of products, like high-risk car insurance, travellers’ insurance, tenant insurance and more. Contact us today at either our Halifax or Dartmouth locations to find out how we can help protect you and your family.


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