Collectors Car Insurance: All You Need To Know

Whether it is kept as a memory of a loved one or out of your sheer passion for collecting vintage cars, vintage cars are precious and irreplaceable. But along with the honor and glamour, they also bring in a huge deal of responsibility. The value of vintage cars is always on a rise owing to the rarity of the models. As the years pass by, they are more prone to damage owing to their age and hence need a lot of care. Sometimes care on cars can be too much work so if you’re looking to sell your car soon, check out Carbrain for quotes.

Maintaining a vintage car comes at a cost, especially if a part of the car needs to be changed. Finding the parts of the car that’s not manufactured anymore will come at a huge cost, so how will you deal with that? You don’t need to worry as long as you have collector car insurance.

While auto insurance is mandatory and required by law, there is no mandatory rule for collector car insurance but if you want to keep that old beauty strong and going without burning a hole in your pocket, opting for insurance would be the smart move. If you’re looking for detailed information on car insurance, you can find car insurance quotes in Toronto at the link.

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Is Your Car Vintage Or Classic?


While people use these two terms interchangeably, when it comes to auto insurance, these two terms represent different categories of cars based on which, the policy you will be offered depends. So you need to find out which category does your car fall into:

  • Any car that is manufactured between 1919 to 1930 is a vintage car.
  • Any car that is manufactured between 1931 to 1940 is a classic car.

There are two additional categories as well that you might want to check out :

  • Antique Cars: Any car that is older than 45 years or more is called an Antique car.
  • Replica: A replica is basically a reproduction of an original vintage car. If the replica is over 25 years old, it can be considered classic.

So the first step towards getting a collector’s car insurance is to identify which category your car falls into.

These are the basic criteria for categorizing the cars. However different states and different insurance companies have specific rules and criteria that determine whether a car is vintage or classic. So you also need to get the category of your car determined by your insurance company. And when you are researching this with insurance companies, look for a better rate from cheap car insurance companies like Freeway Insurance.

Factors On Which The Premium For The Vintage Or Classic Car’s Insurance Will Depend


Categorizing the cars is just the first step. There are quite a few factors on which the premium of your auto insurance will depend. Be prepared because the premium for these cars will be higher than your regular car.

1. The Current Value Of The Car

First, the current value of the car has to be arrived at. For this, you and the insurance company would have to reach a mutual figure. In case of a dispute, it is recommended that you consult an independent expert to ensure that decision is fair.

2. Age Of The Car

The worth of your car and its age goes hand in hand. As the current worth of your car is important to estimate the premium, the age of the car is equally important. Make sure you have all the required documents handy for this. After the age is recorded, the miles covered by your car will also be recorded.

3. Requirements For Spare Parts

The most challenging part of owning vintage cars is the requirement of spare parts. Often in these cases, the spare parts have to be imported or specially manufactured, which can cost a bomb. The insurance company will take this into consideration before striking a deal.

4. Estimated Regular Repair Cost

You won’t be requiring a new part that frequently. However, what will actually matter is how often your car needs to go for maintenance and what the approximate cost of the regular repairing and maintenance work can be. This is one of the biggest deciding factors when it comes to estimating the premium for vintage and classic cars.

What Does A Typical Vintage Car Insurance Cover?


If we talk about the benefits of vintage car insurance, it’s not very different from regular auto insurance.

1. Collision & Comprehensive

As the name suggests, this covers all kinds of situations where your car might need a repair which includes damage due to accident, climatic condition, riots, and also coverage in case of vandalism and theft.

2. Liability Insurance

In case you and the car injure another party, this coverage pays for their medical bills as well as a defense lawyer’s charges in case they file a case against you.

Apart from the standard coverage, when you are dealing with a vintage or classic car, there are a few extra benefits that can be added to your policy:

3. Roadside Assistance

In case your car breaks down in the middle of nowhere, the roadside assistance benefit would offer you special services like a tow truck or fuel delivery.

4. Spare Parts & Automobile Tool Coverage

This benefit covers the cost of the tools and the spare parts that are required to restore the car.

5. Cherished Salvage Coverage

In case your car is destroyed by any of the factors that are covered by your policy, you will retain the rights to keep the destroyed car and still get the payout from the company.

6. Vehicle Under Construction Coverage

Under this benefit, If you get your vintage and classic car restored, you would get a periodic increase in your coverage. This additional coverage will help you cover up the extra expense of the reconstruction of the car.


That was everything you needed to know about getting collector’s insurance for your vintage car. The premium and the benefits that come with the policy will depend on your car’s condition and the insurance company. Hence, it is very important for you to choose the right insurance provider.