Before shopping for Classic Car Insurance or the cheapest auto insurance coverage near you, regardless if you live in Long Beach CA, or Anaheim CA, make sure that you understand the underwriting guidelines that are involved in your classic auto insurance policy.
These guidelines differ from your average personal coverage policy, since these specialty Vehicles are geared towards the protection of older, usually more expensive vehicles that are maintained and driven as a hobby, rather than a primary means of transportation.
This General car Insurance can also be referred to as “collector coverage”, but they mean and cover the same product, Specialty Vehicles!
Compare Car Insurance – Vehicle Use
Vehicle usage of your vehicle on most policies allow for an annual mileage plan of 1200, 6000 and unlimited miles for all vehicles types except for exotic and kit car vehicles.
The mileage plan for both exotic and kit vehicles are 1000, 3000 and 5000. Your collector vehicle must be used primarily for auto club activities, exhibitions and parades, since this type of vehicle coverage only allows for secondary use of vehicles and not primary.
However, routine servicing of your classic car is acceptable under your collector coverage policy. This is because the more miles that you use on this type of vehicle, the more chance you take in with creased risks and exposures.
If a vehicle in this type of condition is exposed to risk like a personal vehicle is, then the premium on the policy of a vintage would be a lot more since mileage is based on the exposure of risk.
Know The Risk
Most antique vehicle owners know the risk of driving their prized possession on roads increase possible damage to their vehicles. They understand that their original vehicle has parts that would be either irreplaceable or just hard to find.
Either way, it will cost time and money to rebuild or restore your vehicle to its original condition.
So, if you are thinking of driving your vehicle full-time, placing the same amount mileage you would put on your personal vehicle, then this type of policy is not for you.
Before you move pass the different sections on this specialty policy program, make sure that you are only driving your prized possession on a secondary level of use and not primary.
When Not to Use your Classic
Vehicles may not be used for the following under your coverage policy:
- Work or school commutes
- Regular personal use
- Business or commercial use
- Track, racing or any timed events of any kind regardless if they are competitive or not.
- A substitute for a regular or personal use vehicle
- Backup transportation is strictly prohibited as well.
You must maintain your vehicle in a fully enclosed storage, or locked garage when not in use.
Pleasure driving is encouraged on your vehicle policy coverage, that’s why you are purchasing the coverage, to protect your passion.
Driver Requirements under Classic Car Insurance
All drivers in the household may not have more than 1 moving violation or at fault accident within the past 3 years, with a maximum of 2 per household.
Any operator who has a major violation is ineligible for most of the classic car insurance policies that exist on the current market. Ten years of driving experience from a licensed driver must be verified in order to be eligible for coverage on most policies.
Any person that does not have 10 years of driving experience, must be excluded from the classic auto policy, which is called a supplemental form that is required to be signed by both the name insured and the excluded driver or drivers.
Each driver living in the household where the name insured resides, must have a vehicle other than the classic vehicle in their possession as a primary vehicle, with limits and coverage equal to or higher than the limits and coverage’s being applied on the collectible auto coverage.
This ensures reduction of loss and the possible increase in risk protection. Any household member who is licensed must either be listed or exuded from the classic coverage policy, except for spouses, since they can not be excluded.
A good driver discount is applied to this type of policy based on California Insurance Code, section 1861.02(b)(2).
Antique Vehicles – Any vehicle 25 years or older, does not deviate from factory available equipment and accessories of that year, would be classified and covered under a classic car insurance policy.
Classic – Classic vehicles are aged between 15-24 years old and do not alter the factory equipment and accessories of that model year.
Modified – A modified vehicles is that of 20 years or older and has not had any drastic mechanical and or cosmetic changes that would alter it from its original power and structural configurations, and retains its original identity in the process.
Exotic – Exotic vehicles are 14 years old or less, and have the private passenger body type which was manufactured as a lifted production vehicle and is considered to be increasing in value.
This vehicle is used primarily for exhibitions, club activities, parades or other functions of public interest or occasional pleasure driving. Exotic vehicles can be modified and still qualify for insurance coverage.
Kit or Replicas – These cars are built from purchased packages and assembled by the manufacturer of the kit or a reputable, experienced assembly shop who specialize in this market.
Your classic vehicle has an underwriting department. The company underwriting department may require credentials at the underwriters discretion. These type of vehicles types should be rated as modified.
Truck and Jeep type vehicles – Any vehicle 25 years old and has shown quality condition and not reflecting any potential of towing, hauling, off-road or utility use. Your company will require photos of the bed area in order to insure.
Acceptable Vehicles Under Program
Vehicles that can fall under a classic collector coverage policy are the following:
- Vehicles under restoration
- Muscle Cars
- Street Rods, Street Machines, and Pro Street Vehicles
- Professionally built Kit and Replica vehicles, including Cobra replicas
- Pickups with superior condition and over 25 years of age
- Vintage Race Cars
- Vehicles equipped for drag racing
- Four door vehicles under 25 years old
- Low-rider cars and trucks
- Vintage fire engines
- Military vehicles
- Antique farm equipment
- Antique motorcycles
Features and Benefits of Classic Auto Coverage
- A.M. Best “A” (Excellent) rated company
- American owned and operated
- Flexible mileage plans including “Live & Let Drive” unlimited mileage plan
- Inflation Guard Protection
- Protection for vehicles under restoration
- You choose your own repair shop
- Flat Bed Towing Guaranteed and Labor Coverage
- Spare Parts Coverage
- Jump Start Service
- Lockout Service
- Fuel Delivery
- Agreed Value Coverage
- Free membership in Driver Club Roadside Assistance
- Free Spare Parts coverage up to $1,000
- Free Trip Continuation coverage up to $75 a day
- Free Full Glass coverage
- Newly acquired vehicle coverage up to 14 days
- Newly Acquired Vehicle Coverage – up to $25,000 for 30 days
Specialty Market Risk
As you can see, different coverage options do apply to this type of specialty market. You see coverage options and features that you would normally not see on a personal policy.
This is because these type of programs are insuring and protecting in some cases a one of a kind.
Depending on the type of vehicle and value of the vehicle, the coverage options may or may not be available or offered for certain type of polices.
Different Features and Options
Each carrier may have different features and options so, when comparing rates, make sure you are comparing coverage options as well.
Yes, everyone is looking to save a few dollars on their premium, but with a classic, you want to make sure your vehicle is being fully protected in the event of a loss.
The whole purpose of a specialty market, is to make sure the program can take care of specific needs. It is very much like trip interruption or offering coverage features that are not present on other types of product coverage polices.
This can be a nice feature if you do a lot of shows for your vehicle. Just make sure to see if a mile radius limit applies to this coverage.
Other Tips and Helpful Information
Unlike comparing rates and quotes with other products, this type of specialty coverage is a special area that you do not want to sacrifice coverage or features available for price.
You want to make sure to go over everything, including the underwriting guidelines. These guidelines are like a blueprint for your coverage and policy terms.
Everything you need to now about coverage and claim and loss guidelines can be found in this portion. You want to make sure you are not violating any terms that are spelled out in your declaration page of our policy.
Just like on a personal policy for your vehicle, these policy terms are and coverage amounts are all listed on the first page of your declaration page.
Read the Language of Your Policy
It very important that you read and understand the language indie your policy sheets. Any question you have, make sure to ask your sales associate and have them walk you through any questions you may have.
Like you can do with most policies, you can always add-on coverage or make changes during the term of the policy.
The only tip, is to make sure that you can do policy changes on your vehicle and see if any additional out-of-pocket fees will be applied.
Good Record Keeping
Always keep all your records of maintenance and receipts of your vehicle. This is important if you need to show certain information to underwriting. Normally, photos will be required as well as an appraisal of the vehicle.
Again, each carrier has different processing guidelines so, make sure to check with that department before making any changes.
A coverage specialist who works with multiple specialty carriers can guide you in the right direction.
Usually a licensed agent will take a overview of what type of vehicle and what type of coverage needs you are looking for as will as your risk factors, before comparing rates.
Specialty Market For All
Not every classic specialty market will accept certain risk. As an example, if you have multiple tickets and accidents, you may have a more difficult time finding coverage that is affordable.
Keep on researching and comparing coverage options and rates. Keep in mind that coverage options and premium price may not compare to what you thought.
If you are in a certain market, meaning that you have an unfavorable driving history, lack of driving experience, or vehicle is extremely unusual to insure.
Compare the Cheapest Insurance Rates
The last thing you want is to have nay issues with your policy after the fact. It is not like you are buying a gallon of milk.
This is protection of your investment and is not good with just a meal, so make sure you are adequately covered and protected. Not every Classic Auto Insurance Company is the same, so make sure to ask if you are receiving the right coverage for your specific needs.
You’re a classic car collector for a reason, and you deserve an insurance policy that is catered to protecting your passion!
If you are interested in comparing Classic Car Insurance in California or cheapest auto insurance, regardless if you live in San Diego CA, or Victorville CA, than give Target Up Insurance a call at 800-962-0085! Our licensed specialists are ready to help, regardless if you buy from us. You need to have an experience adviser in your corner.
Service Areas: Fontana, Victorville, Lancaster, Norco, Corona, Riverside, San Diego, San Bernardino, Highland, Redlands, Colton, Torrance, Long Beach, Anaheim, Huntington Beach, Orange, Fullerton, Costa Mesa and Los Angeles.
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