If you happen to be an antique car collector, covering your cars with auto insurance is not easy. There are many rules and regulations out there that limit companies from providing insurance to classic and vintage automobiles.
So what exactly will you be looking into if you are trying to buy insurance for an older model car? Here is some info you should know before you purchase car insurance.
When the car was made is an important factor. The government began mandating that auto manufacturers begin using VIN numbers in 1954. Before this time, there really was no way to identify the exact car and when and where it was produced. This lead to many people attempting to trick car insurance companies and getting getting large amount of money via insurance fraud. By utilizing VIN numbers, a car can be uniquely identified and it is much harder to commit insurance fraud.
In 1981, the government began requiring car manufacturer’s to use a specific standard format.
When it comes to insurance, car insurance providers consider ‘classic cars’ to be cars built afte1981 that can be identified by their VIN numbers. These types of car are commonly insured by all car insurance companies such as Progressive, Geico and 21st Century Insurance. While rates for the cars may be a little bit higher then newer models, most car produced after 1981 will be covered by standard insurance.
Car produced before 1981 can be considered vintage or antique cars. Cars from this time period are usually not covered by standard car insurance premiums or auto insurance companies. You’ll have to work with companies that specifically work on vintage cars and you may end up paying a higher premium due to the car’s rarity.
It is important to note that insurance for classic cars can often be more expensive then traditional insurance. A person looking for classic or vintage car insurance should make sure to shop around when looking to make a purchase.