Zapp Insurance Agency in Ballston Spa, NY has developed a knack for collectible car insurance. Classic cars are of international interest. Classic cars are determined by judging events. Three organizations, the Antique Automobile Club of America, the Antique and Classic Car Club of Canada, and the Concours d’Elegance of America determine the identity of a classic car.
To be considered a classic car, some experts define a classic to be 1948 and earlier, only a limited number were produced, and the condition it was kept. The twenty to the thirty-year-old vehicle is classified as the "late model" car, with the thirty-year-old car could be considered antique. Each organization has their specific definition of a classic, and there is some disagreement. There is also a category of a "collector car," independent of age, referred to as "milestone" cars, which represents unusual or unique car designs and performance. With this variance of opinion, on what basis does the insurance industry determine the insurance value?
Classic insurance is different than the conventional auto insurance in that the insurance value is actual cash value. The value of classic cars, which are in excellent condition and stored, could be in the hundreds of thousands of dollars. Insurance companies have used their definitions of non-conventional car insurance and do not adhere to the definitions determined by any organization and vary from state to state.
The categories of collector car insurance include:
- classic cars are 19 to 24 years which are restored and in good condition
- antique cars at least 25 years old
- modified car insurance include altered engine and body
- kit cars and replicas
To be eligible to be considered for collectible car insurance, the car must not be your primary car for driving but can be used for pleasure driving. Further, there are annual maximum mile restrictions. Zapp Insurance Agency in Ballston Spa, NY can help value your collectible car and inform you if your vehicle qualifies. Please call for an appointment!