What is the point of having classic insurance?
What's the point of having classic car insurance policy? My friend told me the other day that my 1996 Chevy Impala is now considered a classic car. He also said that if I fixed it up a bit, I could move the car to a classic insurance policy to save money. Is that true?
Answer provided by
- The vehicle must be in good to excellent condition and have an agreed value of at least $3,500.
- It cannot be your daily driver. You must insure at least one other vehicle furnished for your everyday use.
- It must be stored in a secure and enclosed space.
- It cannot be used for racing.
- Some insurance carriers have mileage limits that can not be exceeded.