Whether it’s a groovy bus from the 1960s or a racing car from your glory days… you love your vintage or vintage car when it turns heads.
If you’re a car enthusiast, you know how it feels – and you’ll often go to great lengths to restore and protect your old or vintage car. That is why it is important to have freedom spread it goes a long way, too.
Let’s take a look around and find answers to the questions we receive about old and new car insurance:
WHY DO I NEED CLASSIC OR OLD CAR INSURANCE?
If you have an older or older car, it may seem like an easy way to add it to your auto policy. But if you have an accident, you may find that you are not receiving treatment.
Here’s why: When it comes to paying off an insurance policy, depreciation is the most important factor. As most cars age, they depreciate. But for a classic or vintage car, the opposite is true.
WHAT ARE THE MOST IMPORTANT EQUIPMENT?
At Erie Insurance, our classic and vintage car insurance takes this into account and values your car at a “negotiated value”. This means that you and ERIE agree on the value of your car in advance of the loss. All testing is completed virtually, so it is easy to send photos and information to ERIE for testing so there are no surprises if partial or total loss occurs.
In addition, vintage and antique car insurance can help you find – and pay for – original replacement parts if your car breaks down, maintaining its value and warranty.
IS MY VEHICLE OLD OR OLD?
Insurance companies offer many types of luxury cars for different types of vintage cars. Erie Insurance offers Agreed Value coverage for the following types of vehicles:
- Vintage cars are at least 10 years old and, because they are not manufactured or manufactured very well, they have received little or no interest in restoration, maintenance or preservation.
- Vintage vehicles are 25 years or older that are properly maintained and/or licensed as antiques by the Department of Motor Vehicles.
- Cars with special interest keep or appreciate as they get older.
WHAT IF I DON’T DRIVE MY VEHICLE OR VEHICLE?
As a car enthusiast, you have invested a lot of time and money in your car. Even if you drive it frequently, you’ll want to protect it from hazards such as fire, vandalism and theft. And if it is insured, you will always have the right to take it to park or crash in a car show.
That is why it is better to talk to an insurance expert like an Erie Insurance agent if you like old or vintage car insurance. They will be able to advise you on the right coverage at a reasonable price for your old or used car.
DO I NEED THE RIGHT TIP?
Although some insurers require a separate policy to insure vintage cars, vintage cars or specialty vehicles, Erie Insurance often includes them on the same policy as your other vehicles. Having a single policy streamlines paperwork and payments for you, freeing up your time to get back on track.
ERIE also offers discounts for used or older vehicles that are driven at very low mileage – for example, 500 miles or less per year. In most states, we also offer a discount when your vehicle is stored for 90 consecutive days or more. So you may find that insuring your car with us can cost you less than standard car policies.
And since all your vehicles are at one point, you can benefit from other services like ERIE help along the way.
Whether you own a classic, compact or custom-built car, you’ll want to make sure you have the right insurance to protect your investment. Contact us today for more information on how to add your special vehicles to your vehicle policy.