THURSDAY, APRIL 14, 2022
Those who own an older vehicle may not realize an antique car insurance plan is available to them. Sometimes, buying this specialized auto insurance can help to reduce overall costs while providing ample protection for the vehicle.
Each antique vehicle plan has a different price point. However, many owners will see a reduction in costs if their vehicle meets the criteria. What are the benefits of this type of policy?
There’s a Significant Cost Savings
Some insurers report up to a 40 percent reduction in the cost of insurance for classic vehicles compared to traditional auto insurance plans. An antique vehicle is one that is over 25 years of age in most cases. These vehicles also usually have to be well-maintained. At this age, a vehicle owner is able to secure an antique license plate. This helps them obtain an antique auto insurance plan.
If your vehicle meets this rule, it can be beneficial to select this lower-costing plan. Keep in mind other terminology exists as well. Classic cars and vintage cars may also fall into this cost-savings category.
Guaranteed Value on Your Policy
Depending on the plan selected, many vehicle owners could benefit from guaranteed value. That is if a total loss occurs, the auto insurance provider will pay out the insured value. There is no depreciation taken into account for this type of vehicle.
What’s important is working with your insurer to select the right value for your vehicle.
Original Replacement Coverage for the Vehicle
Another key benefit of some antique car insurance plans is replacement coverage. If a vehicle needs a significant amount of repair, the insurer will make sure that, when possible, the technician uses original replacement parts. That’s important since original replacement parts can be hard to find. Most companies do not charge extra for this benefit.
It is important to talk to your car insurance agent about how you use this vehicle. You also will want to talk to them about any specific modifications to it that may alter the value. Depending on the model you own, it may be easy for you to find the coverage you need. Classic, vintage, an antique vehicle coverage is generally available from top insurers.
We’ve got you covered. Southwestern Insurance can help you get an antique car policy to meet your needs. Call us at to speak to an agent, who can help you get a fast, free insurance quote.
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