Do I need a separate policy for my classic car?

Hank

Norman, Ok.

Hank,

Newcomers to the collectibles market should be careful to research the best way to insure their vintage vehicles before they hit the road, according to the Insurance Information Institute (I.I.I.).
Antique and classic cars, defined as those built 30-plus years ago, have special needs that differ from traditional vehicles. Regular-use cars are on the road every day but antique and classic cars are typically used for limited pleasure driving, car shows and club events.
“Whether it’s a 1932 Alfa Romeo or a 1962 Ferrari, antique and classic car owners should purchase auto insurance coverage for their collectible separate and apart from the policy that covers their regular-use vehicle,” said Michael Barry, vice president, Media Relations at the I.I.I. “While regular-use vehicles depreciate in value over the years, many classic cars appreciate in value and have to be insured accordingly.”
As with a typical regular-use auto policy, an antique or classic car policy generally includes the following basic coverages: liability (bodily injury and property damage); collision; comprehensive; uninsured and underinsured motorist coverage; and medical payments or personal injury protection. Collision and comprehensive coverage are optional in most states.

Good Luck

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