Owning a classic car can be a fun and rewarding experience, but you must ensure that you have the proper insurance coverage on your vehicle for security and to protect your investment.

Although classic cars are not generally driven on the roadways as much as a regular vehicle, you must ensure that your coveted possession is adequately insured in case of a fire, theft, vandalism, natural disaster, or an accident.

How classic car insurance works

Most vehicles, including brand-new ones, depreciate in value over time, unless you own a classic car. Many of those vehicles will appreciate in value over time, so you will want to have enough coverage for your investment through the process of obtaining specialized insurance.

Check For Eligibility

There are some requirements that your vehicle must meet to be considered a classic car and to be eligible for classic car insurance.

To be considered a classic car, a vehicle must be at least ten-years-old to 24 years-old with historical interest. Examples of this are muscle cars or hot rods. To be considered an antique car, your vehicle must be 25 or more years old with historical interest. Your vehicle should only be used in a limited capacity and not used for everyday activities.

The condition of your classic car is important since it must be maintained, preserved, and restored or currently undergoing the restoration process to be considered for classic car insurance. You must also have your classic car stored in an enclosed building for safekeeping and to qualify for an insurance policy.

Obtaining a Policy

Most policies for classic and antique cars include several coverage options, such as comprehensive, liability, collision, and more. The agents and staff at Richards Insurance Agency in Lincoln, NE are ready to answer any questions you may have about classic car insurance and to assist you in obtaining the best policy for you and your prized possession. Visit Richards Insurance Agency in Lincoln, NE for more information.