What are the differences between classic car insurance and regular auto insurance in Florida?
Classic car insurance, also called collector or antique auto insurance, is a lower cost alternative to regular auto insurance designed solely for the special needs of the car collector. The classic car policy can cover the usual risks of loss, such as fire, collision, theft and vandalism, as well as liability to others for an at-fault accident, but at a much lower cost because you are driving your classic car less than your daily driver.
Classic car insurance can also offer unique coverage for specialized circumstances that a collector of antique cars may need that a non-enthusiast would not. Below are some basics about the differences in classic car insurance.
What types of classic cars may be covered?
- Antiques Cars
- Muscle cars
- Exotic and special interest
- Street rods
- Modern classics
- Replicas (high quality)
- Fire trucks
- Low riders
- Military vehicles
- Motorcycles and scooters
- Vehicles under active restoration
- Trailers/Car Haulers
What’s typically not covered?
- Inexpensive home-built kits that do not replicate a classic vehicle
- Any vehicles used for camping, off-road or utility-type driving
- Pro-street vehicles modified with racing features like roll cages, nitrous systems, parachutes, etc.
- Regular-use vehicles driven on a daily basis
- Vehicles used primarily for commercial use
- Motorcycles with performance modifications
- Any vehicle modified with nitrous systems, blown alcohol systems or that run on nitro-methane
- Dune buggies
Driver & Household Qualifications for Classic Car Insurance
Usage – Our policy allows you to use your collector vehicle for club functions, exhibitions, organized meets, tours and even occasional pleasure driving — it just can’t be your daily driver.
Storage – Collector vehicles generally must be stored in a private, enclosed, secure structure when not in use. Appropriate storage examples include: private residential garages, private pole building or barns, rental storage units
Driver Eligibility – In most states, we can’t offer coverage to drivers with a serious infraction within the last five years. Serious infractions include: alcohol-related offenses, reckless driving, excessive speed violations
All household driving records are subject to underwriter review. Generally one or two minor violations or accidents are acceptable.
Regular-Use Vehicles – All household members with a valid drivers license must have a regular-use vehicle for daily driving. Motorcycles and public transportation are not considered viable regular use vehicles by our program in most cases (contact us for details).
Applicants must also maintain regular-use insurance in their own names.
Collector Car Insurance Coverage Options
Standard Auto Insurance Coverage – If you are planning on driving your classic car, your coverage package will include Florida required insurance coverage like Personal Injury (PIP) and Property Damage Liability (PDL). You may also wish to include Uninsured/Under Insured Motorist Coverage and Medical Payments.
Click here to learn about all auto insurance coverage options and requirements in the State of Florida. Because you will be driving your vehicle less than your daily driver, the cost of these required options is far less than on standard auto insurance.
Guaranteed Value – You and the insurance company come to an agreed upon value of your classic car and then, in the event of a covered total loss, you receive every cent of your car’s agreed value. No depreciation. No messing around. No hassle.
Comprehensive Only or Storage Coverage – Low cost coverage of your classic car while it is being stored to protect against damage from vandalism, theft, fire, flood and accidental damage not as a result of a collision.
Travelling Collector Coverage – Provides additional coverage while you are travelling to auto shows. Coverage options may include medical reimbursement, trip interruption, accidental death (including pets) and additional coverage for parts, tools & personal effects.
Vehicle Under Construction – You can get guaranteed value coverage for your vehicle while you are restoring it plus automatic increases and parts & tool coverage.
Spare Parts & Tools Coverage – Cover the spare parts you own, whether they are for the covered classic car or not, plus your tools, toolboxes, cabinets & accessories.
Flatbed Roadside Assistance – Upgrade to comprehensive 24/7 full service roadside assistance program for lockouts, battery jumps, tire changes, emergency fuel delivery and more — guaranteeing flatbed towing with soft straps.
Auto Memorabilia Coverage – Coverage for your valuable automotive collectibles which may include any historic or collectible automotive items, such as:
- Petroliana (gas pumps, station displays)
- Model cars and other toys
- License plates
- Posters and signs
- Paintings and prints
- Diner memorabilia (soda shop signs, diner displays)
- Automotive literature
- Tractor memorabilia
- Farm implements
- Militaria (excluding guns)
- Hood ornaments
- Barber shop memorabilia (barber poles, signs).