Classic Car Insurance vs Standard Car Insurance

 

 

Classic cars are quite different from our daily driver vehicles, so when it comes to insuring a classic car there are two main differences to note.

One major difference is, classic cars aren't usually driven more than a few thousand miles per year. Classic car insurance companies understand this and give discounts based on the miles the classic car driven per year. 

Another key difference with classic car insurance is depreciation. Non-classic car insurance policies depreciate the value of a vehicle each year, taking condition and mileage heavy into account. This is problematic for a classic car owner since a lot classic cars go up in value. This means if you have your classic car on a standard auto policy and its totaled in an accident you may be paid less than what its really worth. 

If you currently insure your classic car on a standard auto policy, you're most likely paying more than you should for less coverage compared to classic car insurance. 

 

by Charles J. Greve at CJG Insurance Group

 

 

Want to shop around your insurance? Fill out the form below or give us a call at 609-904-9027 and one of our representatives will assist you with your insurance needs. 

 

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