Classic Auto Insurance

Do you qualify for classic car / vintage insurance?

Classic Auto Insurance

For those of you that own classic and vintage motor vehicles, you might want to consider looking into a classic auto insurance package. What people do not realize is that there are special requirements that need to be met with regard to the insuring, registering and licensing of an antique or collector vehicle.

Do you Qualify for 'Classic Car' Auto Insurance

With regard to classic auto insurance, how do you know if your car qualifies as an antique? Well to be classed as an antique the motor vehicle would have to fall into the following set of parameters:

1. Be older than thirty years.

2. Be owned and certified as a "collector's item."

3. Be as close to its original condition as possible, that includes with holding its original parts.

4. Comply with the Motor Vehicle Act regulations.

A vintage or a collector's piece - any motor vehicle with vintage plates driven or parked on any public motor way must have at the very least Basic Third-Party Legal Liability coverage of $200 000. If you are looking at taking out on-road or storage insurance then your best bet is to liaise with your Auto plan broker who will be able to put together the relevant Vintage Motor Vehicle Policy.

When it comes to taking out auto insurance for you classic car, drivers must be aware that collector vehicles are not meant to be used for everyday getting from here to there. Because they are so highly valued and also because they need to be kept in pristine condition the owners are expected to restrict their use thereby reducing any possible risk of an accident. If you do intend on using the car for everyday activities you will need to pay a very high premium to cover the extra risk the car will be exposed to on a daily basis.

Your insurance policy for your "vintage car" will also hold no water in the event of a crash if you have acquired collector's license plates under false pretences i.e. your vehicle does not meet the set requirements. Today owners are required to sign a declaration that declares that you are aware and have understood these requirements. This statement is then incorporated into the insurance policy for the vehicle.









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