In North Carolina, a classic car is a car that is between 20 and 40 years old, and there must be something distinctive that makes it a classic – instead of just old. Steiner Insurance Group in Nashville, NC can explain the differences in coverage for standard automobiles and classic cars.
How is classic car insurance different?
Insurance for your classic car is different than the policy you would get for a relatively new vehicle you drive daily. A classic car may not be your regular daily driver if you want to get a special classic car policy. One of the qualifications for this kind of insurance is that you have another vehicle you drive daily.
Limits on a classic car policy
There are limits on how many miles a classic car can be driven. It can, for instance, be driven in a parade, to local car shows, and even for some occasional pleasure cruising. There is usually a yearly limit. You can drive it all you want, but you will have to get a standard policy at some point.
How the insurance works
Whether a car is a classic is determined mainly by age, but there must also be other significant reasons that it is not just an old car. The value of regular cars is fairly straightforward, but not so with the classic car. When insuring a classic car, the value to the owner is part of the equation, and to some extent, that is negotiated when writing the policy.
The major difference
The value of a classic car is determined before the policy is written. The value of a regular vehicle is determined when an accident happens.
Call the Steiner Insurance Group in Nashville, NC for more information about insuring your classic car.