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Miami, FL 33186

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How is Classic Car Insurance Different from Auto Insurance?

There are many different types of vehicles on the road that need different types of insurance. Cars you drive routinely need auto insurance, trucks require trucking insurance, company or commercial vehicles need commercial auto insurance, and classic cars need classic car insurance. Prestige Insurance Group, serving the greater Miami, FL community, is here to help you understand classic car insurance and how it differs from auto insurance.

What is classic car insurance?

Classic car insurance is a type of insurance for cars that someone would define as classic or antique. These cars are worth a lot of money but are not the type of car for everyday use.

Classic car insurance includes different types of coverage similar to auto insurance. These include comprehensive and collision coverage, liability coverage, and property damage. Most insurance companies have requirements you must meet to qualify for classic car insurance. Some of the requirements include the following:

  • The car must be at least 25 to 30 years old
  • You cannot use it as an everyday vehicle
  • You preferably need to store your car in a safe, covered location
  • The driver must have a regular car with auto insurance coverage

What makes classic car insurance different from auto insurance?

Although classic car insurance has similar coverage options to auto insurance, there are some differences. Regular auto insurance takes into account depreciation, the age of the car, and mileage to determine how much the car is worth. With those factors, we would label a classic car as essentially worthless according to an auto policy. With a classic car policy, we use a different approach. We communicate with the car owner and use the value we agreed on.

Get Coverage For Your Classic Car Today

Contact us at Prestige Insurance Group in Miami, FL for more information about classic car insurance.

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