Classic Car Insurance

Classic Car Insurance Classic car owners in New Jersey take great pride in their investment, whether they own one classic car or several. Here at Donnelly & Sproul, as collector car owners ourselves, having expertise in cars and insurance, we understand that you are passionate about your collector vehicle, and want to ensure that it is protected from theft, weather events, accidents, or collisions.

What is Classic Car Insurance?

Classic car insurance means that you are covered against the risk of owning and driving a classic car. It includes coverage for bodily injury liability, in addition to property damage up to the limits of liability. Legal defense costs are also covered in your insurance policy. Comprehensive, collision, spare parts, and uninsured and underinsured motorist are also basic coverage options. Auto memorabilia, such as collector license plates, hood ornaments, signs, and other historic or collectible linked item, can be added as a separate rider or policy.

A classic car is generally defined as a motor vehicle that is of a collectible nature and is considered rare due to its limited production, exceptionally fine quality, or has a special historical application. An antique automobile is a motor vehicle that is at least 25 years old.

Types of Classic Cars Covered

Donnelly & Sproul provides collector car insurance for the below types of vehicles:

  • Classic cars
  • Antique cars
  • Muscle cars
  • Street rods
  • Race cars
  • Modern classic cars
  • Hot rods
  • High quality replicas (Cobras & other “kit” cars)
  • Low riders
  • Vehicles being actively restored
  • Exotic cars
  • Vintage vehicles
  • Military vehicles
  • Classic or antique trucks
  • Fire trucks

IMG_1198Modern Collectibles

New cars such as Corvettes, Ferraris, Mustangs, etc can be considered for these policies based on usage criteria/eligibility.

Classic Car Versus Regular Auto Insurance

Your regular auto insurance is similar to antique car insurance, but with a few important differences. These differences include agreed value, tiered mileage plans options, and the types of vehicles excluded.

Agreed Value

Regular vehicles depreciate and lose their value over time. Classic and antiques cars are a different story. Many keep or even increase their value over time. With agreed value as part of your collector car insurance, you receive the agreed amount agreed upon when you took out the policy as long as you maintain and properly store your vehicle. In the event that your collector car is totaled, you receive the full amount of insured value on your classic car insurance policy. This means we offer an agreed and guaranteed value coverage that doesn’t depreciate. Some policies that cover classic cars do not have a deductible.

Tiered Mileage Plans

As a general rule, your classic or antique car must not be your primary vehicle and is used on a limited basis, such as car shows, parades, car club event, or parades. With coverage for a collector vehicle, you can enjoy flexible usage with several tiered mileage plans, but typically not regular usage on a daily basis. We can help you tailor a mileage plan that offers you the best protection, including plans with rollover miles provisions.

Types of Classic Cars Excluded

Home-built car kits that don’t resemble a classic car are not considered a collector car. Additionally, vehicles used for off-roading or camping are not under the collector car umbrella.

You’ve taken good care of your classic car beauty and we will too. Enjoy peace of mind knowing your classic car is well protected.