Classic Auto Insurance Requirements

Reader’s Question:

Hello, I live here in New Hampshire. I have a vintage Beetle, a 1973 Volkswagen which was recently restored. My Beetle means so much to me so I decided not to buy another car and restore it rather. My neighbor, an agent tells me that if I insure it, it will not fall under the Classic category. I have spent fortunes for its restoration and it is only natural that I want the best insurance for my Beetle. I want to avail a Classic car insurance coverage for my bug. What are the criteria and eligibility for Classic auto insurance in New Hampshire?

Greg

Nashua, NH

A classic car can be branded as classic if it reaches 10 years of age or more. Your car’s model was a 1973 Volkswagen so it can be branded as Classic. However, there are insurance companies that set criteria or conditions for you to insure your vehicle under the Classic coverage type. The following ensures eligibility for Classic auto insurance:

• Your car must be 10 years old or older, some companies give considerations for cars that are less than 10 years old – In your case, this criteria was met.
• It should not be driven regularly. Driving it regularly will disqualify you for classic car insurance – Since your car was your primary vehicle this criteria was not met.
• Your car should be used as a secondary vehicle and not as primary.
• The minimum value of the vehicle is set by the insurer.
• Generally, it should have lower mileage per year; I think it ranges around 1500-6000 miles per year.
• You should be the primary user of the car and no one else.
• It should have original replacements. Modifying it to join rallies will disqualify you for classic car insurance.
• Some companies will refuse to insure if the motorist is less than 21 years of age.

There are special insurance companies for Classics and some even offers free online auto insurance quotes and if you are eligible for their set criterion, their premiums will cost you just about a fraction of what normal companies’ charges. With these companies you can set your minimums to an agreed value and at the same time keeps your precious vintage insured. So, at the time of an accident you can assure you will get the right claims from your insurance company. Again, policies still differ from company to company so you must get in to detail with their policies and inquire carefully.

Where To Get Antique Car Insurance

Reader’s Question:

How and where can I purchase antique car insurance? I live in Vermont.

Gail

Rutland, VT

Hello there, Gail.

In most states. an automobile is considered antique if it is over thirty years old. Maybe most vehicles are meant to have a life of about 10-15 years. Once the vehicle reaches the thirty year mark, it is considered antique.

antique vehicles are not very often driven and it can be very impractical to insure an antique vehicle with traditional auto insurance. Although getting insurance for the antique car is very much like insuring a normal car, you might find it difficult to obtain a antique car insurance in Vermont.

You can try getting it online and as soon as you find one the chosen car insurance company will usually try to know your vehicle’s value by hiring an appraiser to check your car. Usually insurers use the blue book value. Evaluating your antique car’s value is essential to be determined before you are given car insurance policy by any insurer. Antique car insurance may come in three types:

1. stated value insurance,

2. agreed value insurance, or

3. cash value insurance.

I suggest you shop around for antique car insurance in Vermont before purchasing to get the best deal.