When you own a classic car, you might wonder whether you need a standard auto policy or a dedicated classic car policy. We provide both policy types at Acme Insurance Brokerage, located in Amityville, NY.

Not All Cars Qualify for Classic Car Coverage

While any street-legal vehicle can get a standard auto policy, achieving classic car coverage involves certain requirements, which can vary according to the policy.

Typically, your vehicle should be at least 15 years old or qualify as an exotic car. The frequency of usage can also influence your eligibility – a car driven daily usually doesn’t qualify for a classic car policy.

Vehicle Valuation

Under a standard auto policy, the vehicle value is determined after an accident or claim based on the vehicle’s present value.

On the other hand, with a classic car policy, you and the insurance company agree upon the vehicle’s value at the policy’s outset. Classic cars should maintain their value instead of standard vehicles that depreciate with time.

Classic car policies usually include higher coverage limits due to the intrinsic higher value of classic cars compared to standard vehicles.

Policy Cost

Classic car insurance policies typically cost less than standard auto policies. This is mainly because classic cars are not frequently driven, thereby reducing the risk of an accident.

Classic car owners may also need to store their vehicles in a secure area, which mitigates risks from weather conditions and vandalism.

Classic Car Insurance at Acme Insurance Brokerage

If you are in Amityville, NY, and in the market for classic car insurance, contact us at Acme Insurance Brokerage. Our experienced agents are eager to discuss your requirements and assist you in finding the ideal policy.