If you have a classic automobile and you are wondering if classic auto insurance is really different than regular auto insurance, the answer is absolutely. You are insuring a completely different type of asset when you have a classic car. Most classic cars are not driven very often. They are at least not driven as much as a regular car is. Most are driven only periodically for fun and they are driven to auto shows.
One major difference between a classic car and a regular car is that a regular car is continually depreciating. The older your regular car becomes and the more you drive it, the less value it has. With a classic car, the older it becomes, the more valuable it likely becomes also. If you have restored the classic car and you take very good care of it, it will go up in value as it ages. You need to have classic auto insurance covering this type of automobile. It should be designed to cover an appreciating asset not a depreciating one. There are companies that specialize in this type of insurance coverage. Make sure that you use a company that understands this coverage completely.
You will need to have the car maintained in impeccable condition also, in order to keep the value going up. Minor scratches and dings on the car will need to be repaired. You need a policy that is specially designed for this type of coverage. It may cost a lot of money to properly repair a classic car. There are policies that are specifically designed to cover these repairs. Some classic auto insurance policies allow you to select who will do the repairs on your car. This is because you want to maintain the value of the asset as best as you can. The insurance companies want that also.
