Classic Car Insurance in North Carolina
In North Carolina, classic car insurance must include liability coverage and uninsured/underinsured motorist coverage.
Written by R.E. Fulton
Reviewed by Carrie Adkins
In North Carolina, cars at least 30 model years old with historic interest for collectors can be insured as classic cars. Classic car insurance in North Carolina must include
liability
coverage and uninsured/underinsured motorist
coverage.You might already be familiar with the process for insuring your everyday car, but classic car insurance plays by different rules. A car with high maintenance costs and a higher-than-average value that you don’t drive very often needs specialty coverage that looks different from the policy on your Camry or Accord.
Not sure what kind of
car insurance
to purchase for your classic car? Car insurance comparison shopping app Jerry
has compiled a guide to everything you need to know about classic car insurance in North Carolina. What is classic car insurance?
Classic car insurance offers many of the same coverages as a regular auto insurance policy, but it’s tailored to the needs of classic cars and their drivers. For instance, many classic car insurance policies will be based on the agreed value of the individual vehicle, rather than the “stated value” many companies cover for ordinary cars.
What is a classic or antique car?
Let’s start with some definitions. In insurance terms:
- A classic car is any vehicle 10 to 24 years old that has historic interest (such as a muscle car or hot rod)
- An antique car is any vehicle 25 or more years old that has historic interest
What makes classic car insurance different?
One of the biggest differences between classic car insurance and regular auto insurance is that the former is generally less expensive. Because you don’t drive your classic car as often as a regular car, you can pay a lower rate to insure it.
Classic car insurance also comes with more specific requirements, including:
- Mileage caps: Your policy will set a limit on how many miles you can put on your classic car annually.
- Storage: You’ll be required to have secure storage (like a locked garage) for your classic car.
- Condition: Classic car insurance policies require the car to be restored, maintained, and preserved in its original condition (if it’s not undergoing restoration).
To begin, you’ll need to work with your insurer to reach an agreement on the vehicle’s value, since classic cars don’t have a set “book value” based on make and model.
Your “agreed value” will be specified on your policy, and your car will be covered up to that value without depreciation.
North Carolina classic car insurance
In North Carolina, a car must have been manufactured at least 30 years ago to qualify as a classic or collector car. If your vehicle is primarily used for exhibitions, parades, club activities, or other public interest events, you’ll need to register it with antique license plates.
To register an antique vehicle in North Carolina, you’ll need to take it to the Department of Motor Vehicles to be inspected and photographed.
In North Carolina, the minimum coverage for a classic car is as follows:
- Bodily injury liabilitycoverage: $30,000 per person / $60,000 per accident
- Property damage liabilitycoverage: $25,000 per accident
- Uninsured/underinsured motoristbodily injury coverage: $30,000 per person / $60,000 per accident
- Uninsured/underinsured motorist property damage coverage: $25,000 per accident
What impacts the cost of classic car insurance in North Carolina?
Classic car insurance policies are highly individualized, so you’ll have a lot of options for customizing your coverage beyond the state minimums listed above. The specific types of coverage you include in your policy will determine the overall cost.
Other factors that might impact your rate include:
- Model year
- Agreed value
- Your driving record
- Mileage
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Benefits of classic car insurance
Because classic cars are special vehicles, regular auto insurance just isn’t sufficient to protect your classic car against damage or loss. Any car whose value exceeds its original selling price is a candidate for specialized insurance.
Some specific advantages of classic car insurance include:
- Rates up to 70% lower than standard car insurance
- Higher coverage limits (often up to $500,000)
- Expert claims handling from fellow classic car enthusiasts
- Optional coverage for spare parts and memorabilia
- Roadside assistance using only flatbed tow trucks
- Potential discounts on approved collector car club memberships
Do I need classic car insurance?
If you own any of the following vehicles, you probably need specialty coverage:
- Antique & classic cars
- Vintage boats
- Modern collector vehicles
- Modified vehicles
- Classic trucks and utility vehicles
- Motorsports vehicles
- Vintage motorcycles and scooters
- Retired commercial vehicles
- Collector trailers
- Vehicles under construction
- Classic military vehicles
- Antique tractors
Coverage options for classic car insurance
So, what types of coverage should you include in your classic car insurance policy? Consider the following options:
Coverage | Description |
|---|---|
Comprehensive | Covers damage that isn’t the result of a collision, such as from severe weather or vandalism. |
Collision | Covers damages resulting from a collision with another vehicle or stationary object. |
Uninsured/underinsured motorist | Covers damages if you’re involved in an accident with a driver who doesn’t have auto insurance. |
Agreed value coverage | If you’re in a covered accident and your classic car is a total loss, you’ll receive the full agreed-upon value (minus your deductible) without any deduction for depreciation. |
Flexible mileage | Tiered mileage plans give you the flexibility to customize your policy based on how much you actually drive your classic car. |
Roadside assistance | Coverage for tire changes, towing, and other incidental expenses that aren’t part of a typical auto insurance policy. |
Spare parts | Add coverage for loss or damages to classic spare parts—even ones that are expensive or hard to find. |
Finding cheap car insurance for your classic car
Owning a classic car can be expensive—but insuring your antique vehicle in North Carolina doesn’t have to be! Download car insurance broker app
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