Classic car insurance is made for enthusiasts who love driving their restored vehicles to the latest car show. It’s for people who have spent countless hours restoring their car to perfection. However, not everyone automatically qualifies for this type of policy.
The Vehicle Matters
Most companies will consider factors such as your age, driving history, and marital status when determining your monthly premium. But when it comes to this type of policy, those things won’t disqualify you. Instead, the company will consider the vehicle to determine whether you qualify.
Age
Companies will determine whether your vehicle is considered a “classic” based on its age. Most vehicles must be at least 20 to 25 years old to be considered a classic. Whether this category starts at 20 or 25 years old depends on the company. Ask an agent at Oak Ridge Insurance Services to learn more.
Mileage
These policies are designed for vehicles that are only driven on occasion to maintain them or to car shows. As a result, a daily driver won’t qualify, even if it meets the age requirement. Many companies have mileage requirements. For example, a vehicle can’t be driven more than 5,000 miles annually. This ensures it’s only driven on occasion or to car shows.
Storage Requirements
Most providers require secure vehicle storage to qualify for this policy. Parking it in the driveway or covering it with a tarp will not suffice. Instead, the vehicle must be parked in a storage unit, a garage, or another four-walled structure, such as a barn. This reduces the risk of damage.
Classic car insurance is ideal for classic cars used for these purposes. Contact one of our agents here at Oak Ridge Insurance Services to see if your vehicle qualifies. We’re currently serving Oak Ridge, NC.
