Classic Car Insurance: FAQs

When you have a rare, classic vehicle, insurance is an absolute must. Insurance helps to protect valuable vehicles in the event of an accident or other hazard. Due to the fact that classic cars are far more specialized and valuable than the typical automobile, here are a few frequently asked vehicles that Colorado residents often ask us here at Integrity First Insurance.

What Exactly Is a Collector or Classic Car?

Every insurance company will have its own individual definition of a classic vehicle, but generally, vehicles that are a minimum of 10 years old are considered classic and vehicles that are a minimum of 25 years old are considered collectors. In addition, antique vehicles are usually those that are 50 years or older.

What Does It Cost to Insure Classic Vehicles?

Believe it or not, these insurance policies are quite affordable. The reason for this is due to the fact that they aren’t driven often. Because of this, there is less of a risk that they’ll be involved in an accident. As a result, this leads to a less expensive premium.

What Type of Obligations Do You Have as an Owner?

Your auto insurance company may limit the number of miles that you can drive throughout the year. In addition, you may need to provide your insurer with proof that your vehicle is consistently stored in a garage, that you have a daily driver, and that you have a solid driving record.

Do Classic Cars Need to Be Appraised?

In order for your vehicle to be valued accurately, it is recommended to be appraised by a professional. This ensures that you and your insurance company agree on a value prior to entering into a contract for insurance. When classic and collector vehicles are well maintained, depreciation is generally not something that needs to be taken into consideration, as these vehicles will instead increase in value over a period of time.

When you need insurance for your classic car in Colorado, reach out to the professional insurance agents at Integrity First Insurance who have the experience and expertise to protect your precious assets.