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Exploring the Types of Antique Cars and the Significance of Their Insurance

Little & Sons Insurance Group / Auto Insurance  / Exploring the Types of Antique Cars and the Significance of Their Insurance
Types Of Antique Cars

Exploring the Types of Antique Cars and the Significance of Their Insurance

People often use the terms classic, antique, and vintage interchangeably while mentioning older cars. However, the price, historical status, and age of the vehicle decide whether it is classic, vintage, or antique. Read more to understand the types of antique cars and whether they need insurance.

What You Need to Know About Antique Cars

Antiques represent the widest selection of collector vehicles. Antique cars are often purchased by collectors who don’t plan to drive them much. Instead, they are showcased at car shows or sold at higher prices after being restored. Basic forms of collector car insurance can be purchased for antique or classic cars.

Related Article: Classic Car Insurance Guide: What You Need to Know

Types of Antique Cars

While vintage cars were generally made from 1919 to 1930, antique cars are usually at least 45 years old, and classic cars are over 20 years old. Antique cars are mostly used for car shows or restoration projects.

Some of the popular antique cars are:

  • 1932 Ford Roadster
  • 1938 Volkswagen Beetle
  • 1951 Oldsmobile Super 88
  • 1956 Porsche Speedster
  • 1957 Chevrolet Corvette
  • 1964 Chevy El Camino Coupe
  • 1987 Buick Grand National

How Much Does My Antique Car Worth?

The factors determining antique car value include the year, make, model, and restoration quality. While a fully restored antique car can command a high price, an old car that needs plenty of restoration work won’t be very valuable until it’s restored.

How Does Antique Car Insurance Work?

Antique car insurance shares some similarities with regular car insurance but doesn’t cover a primary vehicle used for commuting. While a modern car tends to depreciate, an antique car can increase in value over time if it’s been elaborately restored, so the market value of an antique car is hard to measure.

You will initially need to establish an agreed-upon value of the car with your insurer, who will usually have the vehicle appraised by a professional. An alternative is simply agreeing with the insurer on the payout value if the car is damaged.

How Much Coverage Do I Need for an Antique Car?

Check with state laws on the minimum insurance you need for an antique car. It needs to have a certain amount of liability coverage in case it’s involved in an accident. You won’t need as much coverage as a regular car as you will not drive it. However, the more you use or showcase your antique car, the more coverage you’ll need.

Any time a car is on the road, it risks colliding with another vehicle or being damaged by something in the environment. You may want to add collision or comprehensive coverage if you use the vehicle frequently. However, you don’t necessarily need a lot of coverage if you don’t use it much.

Consider Your Antique Car Insurance with Little & Sons

Getting antique car insurance isn’t the same as insuring any depreciating old car. An agreed value plan in antique car insurance won’t cover the full value of your car if it increases in the future. Besides antique car insurance, you can rely on a factory extended warranty to protect the value of your vehicle.

Though you may not need additional coverages for your antique car, getting the right car insurance coverage for extensive protection is important. Contact us today at Little & Sons Insurance Services for an all-inclusive collectible car insurance policy.

Also Read: What Every Classic Car Owner Needs to Know!

Little & Sons Insurance Services

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Little and Sons Insurance Services is your complete insurance resource. Since we were established in 1922, we assist individuals and business owners with all of their insurance needs, whether it be for auto, home, or commercial insurance. As an independent, full-service insurance agency, our duty is to our clients’ best interests.

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After 23 Years of serving our clients at our location in Beaumont, CA it is with a heavy heart that we are consolidating our operations to our Banning Office. We will be available all the same hours and will work to make this transition as smooth as possible. Thank you for your continued business and we look forward continuing to serve your insurance needs. Our contact information will stay the same so feel free to contact us.

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