Rather than purchasing brand new cars, some people tend to keep their classic cars in good condition. Since classic cars might have more value than new cars, you should consider protecting them with insurance. This type of insurance called as classic car insurance. There is Hagerty classic car insurance that well-known to offer great coverage for various classic vehicles. Check out the details how to get this insurance.
What is Classic Car Insurance?
Classic car insurance is different with regular cars insurance. Regular cars are insured with depreciating gradually year after year. Conversely, the classic car is appreciating the value, especially if the vehicles are getting restored. Classic cars are cars with 20 years old or more that is maintained in its original design or modified with aftermarket touches. So, the premium is lower than the regular one. As classic cars are collectibles, they bring higher replacement cost because they tend to spend more time in the garage than the road. Hagerty classic car insurance quotes only cover those vintage vehicles for the use of exhibitions, club functions, special tours, organized meets, and occasional pleasure driving. So, the classic cars for daily driving aren’t eligible to get coverage.
What Type of Classic Vehiclescan Get Insurance?
Hagerty offers the insurance quotes only for some classic vehicles categories, including:
- Antique and classic cars
The antique and classic cars built in between 1884 to 1979 are the perfect fit to get free antique car insurance, such as 1930 Ford model A, 1963 Jaguar E-type, and 1970 Dodge Challenger.
- Classic trucks, SUV, and utility vehicles
If you have SUV, trucks or other utility vehicles built in 1995 or older, such as 1946 Ford pickup or 1977 Ford Bronco, you can get them protected. However, not only the age but the vehicles should meet the requirements, including in good condition, minimum values may apply, under restoration and limited towing or hauling max 20 times per year can be considered.
- 1980 or newer vehicles
These vehicle models include limited or the special edition models, get special interest and imported or supercars/exotic vehicles. For example, vehicles like 1997 Chevrolet Corvette or 2008 Mercedes-Benz SLR.The vehicles should be still in good condition. For vehicles built in the 1980s and 1990s should hold the minimum value of $3,500, while the one built in 2000s and newer has $7,500 minimum value.
- Modified vehicles: street rods and replicas
Characteristics of modified vehicles are including custom paint job worth $10,000 or more, get structural alteration to body/frame/chassis, and have a significant performance increase. For replicated vehicles, they should be duplicated the cars that are no longer in production, such as 1920s Mercedes Benz Roadster or 1950s Porsche Speedster.
- Motorsports protection
Almost 99% of race car’s time spent off-track, so insurance also helps to protect that time. The insurance coverage will protect the vehicles: in the paddock, in the trailer while being loaded and unloaded, at the shop, in storage, from fire/hurricane/floods/earthquakes/other disasters, from theft, or on the track while racing. Whether you have nostalgia dragsters, funny nostalgia car, pro-street or legal muscle car, vintage race cars, or the vintage motocross, you can qualify them for the coverage.
- Classic military vehicles
Do you still have 1952 Dodge M37, 1965 Jeep CJ5, or 1971 Volvo TP21 Sugga? As its long history on how these vehicles help to protect the country, you should also get these classic military cars get protected. If the vehicles are already 20 years old or more, de-militarized, and battle reenactments vehicles that mostly stationed, they are qualified for the coverage.
- Retired commercial vehicles
Commercial vehicles are including the fire truck, bus, tow truck, dump truck, or semi-tractors such as 1941 Ford School Bus or 1965 Divco Milk Truck. If those commercial vehicles have been ages and retired, also have antique or vintage models, there is special coverage to protect them. However, since the vehicles are large and designed to transport goods or passengers so that appropriate usage will be a main concern for the coverage.
- Collector trailers
Hagerty will cover two types of containers, and it is including vehicle trailers and street rod trailers. Vehicle trailers are designed to carry collector vehicle. Meanwhile, street rod trailers are those small trainers that usually pulled behind custom classic cars or street rods.
- Antique tractors
The agricultural life can’t be separated from the role of tractors. Classic or antique tractors have been very useful to make farming works easier. Qualification of tractors that allowed to get coverage, including at least 25 years old or more, still in good condition unless under active restoration, and have been fully retired.
- Vintage motorcycles and scooters
Not only four wheels vehicles, but Hagerty also covers classic motorcycles and scooters. Classic motorcycles such as 1947 Indian Chief, 1964 Harley Davidson FL, 1973 Norton Commando, retired dirt bikes, and much more are eligible to get insurance. Those classic motorcycles should meet the requirements, including built-in 1996 or older (especially in North Caroline should be 25 years old or older), original sidecars equipment from original manufactured date of bike, stored in fully enclosed garage, minimum value is $2,000, and minimum value of 3 or more motorcycles collection is $1,000.
For modified motorcycles, they should be built in 1975 or older, and minimum insured value is $7,500, replica motorcycles such as a 1951 Harley restored on a 1973 Harley frame can be considered, while choppers and trikes are not eligible. Meanwhile for vintage raced motorcycles should be built in 1989 or older, aren’t on-track motorcycles, a minimum value is $2,000 ($1,000 for 3 or more collections), no modern or professional race bike and team, while dirt track and motocross bikes can be considered.
Others Classic Car Insurance
Rather than let your classic cars getting older in the storage, how about giving them more value by covering with insurance? Hagerty is one of the best classic car insurance out there offering best quotes. However, you might also find another insurance company also offers the same quotes. For example, Grundy classic car insurance offers coverage for vehicles at least built in 1947 or Geico classic car insurance that offer coverage for collector vehicles that are 25 years or older.
So, have you got your classic car insurance?