If you own a classic car in Wheat Ridge, CO, you know there isn’t much that can compare to taking it out on a nice afternoon for a ride that turns heads. Whether you own a classic car or are considering purchasing one, it is important to understand that these vehicles require a different type of insurance policy than the standard automobile. CO Insurance Specialist shares a few things you should know about classic car insurance.
How Do You Become Eligible for Classic Car Insurance?
Most auto insurance companies have a specific list of requirements to be able to insure a classic car. Though there isn’t usually a minimum value requirement, it is stipulated that a vehicle is worth more currently than when it was originally made. Further, the vehicle usually needs to be at least 10 years old.
Insurance companies will also take into consideration the condition of the vehicle. It should be running (or close to it) and in good shape overall. The vehicle is required to be stored indoors and maintain low mileage. There will generally be a set number of miles that the vehicle can be driven each year.
What Is the Difference Between Standard and Classic Auto Insurance?
Both standard and classic auto insurance offer the main types of protection, such as collision, comprehensive, and liability. Classic car insurance simply takes things a step further based on the very unique needs of older vehicles.
For instance, it will take into account the higher costs of a collision, as classic models will typically cost more to repair due to the need for rare mechanical skills and lack of available parts.
Classic car insurance is designed specifically for the higher expenses and needs of a vintage or antique car.
If you have any questions about classic car insurance in Wheat Ridge, CO, contact the professional agents at CO Insurance Specialist.