Vintage cars exude class and sophistication. And with their prices rising every year—depending on their rarity—so does their cost of upkeep. This includes repairs and replacements in case of an accident.
So if anything’s for certain, it’s that the luxury of these cars comes with serious commitment and responsibility.
Old cars require regular tuning, restoration services, and maintenance. And what better way to be prepared for all of this than to get yours insured?
Here’s everything you need to know about vintage car insurance.
Is Your Car Vintage Or Classic
First things first, you need to know if your car classifies as vintage or classic. Even though this may seem like common knowledge, many people don’t know the difference, because the line between them is blurry.
However, this can have a serious impact on your insurance policy. Here’s the major difference:
Vintage Cars: A car that was manufactured between 1919 and 1930.
Classic Cars: A car that was manufactured between 1940 and 1970.
What Aspects Of A Vintage Car Determine Its Premium?
There are multiple factors based on which auto insurance companies base their premiums on. For vintage cars, here are a few of the most important ones:
The Age Of Your Vintage Car
Age and vintage go hand-in-hand. As the most important factor in determining the premium, you need to ensure that you have all the required documents that show the date of manufacture.
Spare Car Parts
Getting spare parts for vintage cars can get tricky—not to mention expensive. The insurance company is likely to take this into consideration before going ahead with the insurance process.
Accounting for the number of miles traveled is a routine practice in auto insurance; hence, this will also determine the premium.
Getting a vintage car repaired can cost you a pretty penny, so it’s a good idea to have a valuable insurance policy in your back pocket to protect your bank account.
The author is a regular contributor from Manatee Insurance Services Inc, an insurance service company based in Florida. If you’d like to know more about their auto insurance policies, head over to their website to get a free auto insurance quote in Bradenton.
The company extends its services to residents in Bradenton, Sarasota, and Manatee County.