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Owning a classic car is not only a great conversation starter, but is also a tribute to the history of the automobile and its evolution into the high-tech models motorists enjoy today. However, with a classic car comes a slew of insurance rules and coverage options necessary to preserve the vehicle and make sure it functions as well as it did right off the assembly line.

How will you use your classic car?

The way a car is used is the biggest factor that determines what kind of classic car insurance coverage is needed. Some specialty policies catered to classic models may require the owner to only drive the vehicle a few times a month, have mileage restrictions or stipulate that an owner may not leave the car unattended when at public events such as a car show.

While this may be convenient for some classic models – such as an extremely valuable early 20th century Rolls Royce or an 1884 De Dion Bouton Et Trepardoux – which Forbes reported has fetched prices as high as $3.5 million in auction – owners who intend on frequently driving their classic car may benefit from a more standard insurance policy.

Differentiating between a classic car and an antique car for the right insurance policy

The Classic Car Club of America defines a classic vehicle as one that belongs to “specific important marques” built between 1925 and 1948, while the term antique car can be used to describe an automobile that is at least 25 years old. Therefore, many older cars can be considered antiques but only a select group falls under the “classic” category.

Owners of vintage automobiles that are not particularly valuable may be able to get away with purchasing limited insurance like a liability option, which provides coverage for the other party if the policyholder is involved in an at-fault accident. However, that option will not cover the damages to the owner’s classic vehicle, which is why those who are very attached to their cars should strongly consider anteing up for comprehensive coverage.

Comprehensive auto insurance may sometimes be the right option for your classic car

While comprehensive auto insurance is more expensive, it also offers extensive levels of coverage that can protect a vehicle in most situations regardless of the claim. Although comprehensive coverage is desirable for classic car owners, some mainstream insurers may be hesitant to cover a classic vehicle that in the event of repairs, many antique models require parts that have not been manufactured in decades, and may cost a pretty penny to buy or recreate. Furthermore, older automobiles are often made from heavier metal or require specialty paint colors, which may cause some insurers to reject a car collector’s application and direct them to a specialty classic auto insurance provider, which in some cases, may be the best choice anyway.