If you’re driving on the road, you are generally required to have a certain amount of auto insurance, which is referred to as liability insurance. This insurance pays other motorists in the event you are found to be at fault for an accident. Unfortunately, liability coverage will not pay for repairing your vehicle. If you have a classic car, the repair costs can be exorbitant. For this reason, there is special insurance coverage for vintage vehicles. Attain Insurance, serving Fort Payne, AL, shares some information on how you can ensure your classic car is properly protected.

How Does a Classic Car Insurance Policy Work?

Auto insurance policies typically take into account the age, make, model, and depreciation when determining payouts. However, due to the fact that classic cars aren’t driven much and have been restored, depreciation won’t apply. Usually, these vehicles are worth more, meaning that you must work with your insurance agent to determine the value of the vehicle and ensure you will receive a sufficient payout if the time comes. Classic car insurance will usually pay for specialized spare parts, repairs, and even towing. 

How Do You Become Eligible for Classic Car Insurance?

In order to qualify for classic car insurance, your vehicle must be a certain age. For instance, most classic trucks, muscle cars, hotrods, and the like are eligible for this insurance. The vehicle cannot be a daily driver, and it should be in good condition. It must also be stored in a safe and secure area, which helps to reduce the risk of damage. You may also be required to agree that your vehicle will not be raced or driven a certain number of miles.

Are There Different Types of Insurance Available for Classic Cars?

The insurance type that you need will depend on the vehicle you are ensuring. Classic cars are referred to as a vehicle in good condition, restored, and somewhere between 19 and 24 years, generally. An antique car is usually older than 25 years. Modified cars will have significant modifications done to them that change their value considerably. Each type of vehicle will require a different type of insurance, and the requirements for each may vary from one insurance company to the next.

If you have a classic or antique car that you need to have insured, contact Attain Insurance, serving Fort Payne, AL, to obtain a classic car insurance quote.