Many people do not understand how to use classic car insurance to save money in Florida. If you have a vehicle that you don’t drive every day or over long distances, then classic car insurance could be your best option for better protection at a reduced cost. Let’s see how it works.

Benefits of Classic Car Insurance

Classic car insurance is designed for vehicles driven for enjoyment rather than regular commuting and errands. You can pick different types of coverage based on the average number of miles driven on that car each year, but even in the higher ranges, it’s going to be less mileage than you’d put on your regular vehicle. Because you drive the car less, you typically will not have to pay nearly as much for insurance.

For example, for a classic car driven no more than 4,000 miles a year, you might pay only $400 for full coverage. That’s a huge savings over the $3-4,000 you’d pay for regular car insurance.

In addition, because classic car insurance is designed specifically for older vehicles, it can be written to take account of the fact that classic cars can appreciate in value over the years, unlike standard vehicles which steadily decline in value.

Do You Qualify for Classic Car Insurance?

Policies from different insurance companies may vary, but generally, to qualify for classic car insurance, you must be insuring a vehicle that meets one of the following criteria

• Between 25-40 years old
• Classified as exotic, such as a Ferrari Roma or an Aston Martin DBS
• A replica of a classic vehicle, or
• A classic military vehicle
• Have a garage for the car to be covered in daily

Note that the age for classic car insurance purposes is not the same as the age for historic license plates in Florida, which are generally only available for vehicles at least 30 years old. Even a brand new car can be a class if it is exotic. However, it must be driven only for leisure.

Shopping for Classic Car Insurance

Regardless of the vehicle, it is important to pay attention to coverage details when shopping for and renewing insurance so that you are fully protected. Consider whether you need coverage to provide for weather-related damage, theft, or roadside assistance. Make sure that you have combined coverage to handle liability, as well as your own injuries and damage caused by uninsured motorists.

Because you are working with a classic vehicle, you may want a policy that pays an “agreed value” in case of total loss, rather than a “stated value” which could be based purely on the vehicle’s mileage and age.

Help After a Car Accident

We all buy car insurance hoping we’ll never need it, but knowing that at some point, we probably will. Accidents are common on the busy streets of Florida, and that is not going to change anytime soon.

Our team is ready to help if you need advice after any kind of car accident anywhere in Florida. Just contact us online or call Attorney Shannon Sagan at 1800-FLA-LAWYER for a free consultation.