{"id":9853,"date":"2023-06-30T12:00:00","date_gmt":"2023-06-30T19:00:00","guid":{"rendered":"https:\/\/blog2.neighbor.com\/storage-blog\/?p=9853"},"modified":"2024-07-29T13:53:26","modified_gmt":"2024-07-29T20:53:26","slug":"best-insurance-for-collector-cars","status":"publish","type":"post","link":"https:\/\/www.neighbor.com\/storage-blog\/best-insurance-for-collector-cars\/","title":{"rendered":"Best Insurance for Collector And Classic Cars"},"content":{"rendered":"\n

While most cars depreciate in value over time, classic cars typically become more valuable with age<\/strong>, but that’s not the only difference between modern and classic cars. Insurance requirements also vary. <\/p>\n\n\n\n

Note that the standard auto policy isn’t likely to meet the needs of classic car owners. <\/strong>You need a specific type of classic car or collector car insurance policy. <\/p>\n\n\n\n

Classic cars are an investment. Collectors often spend a significant amount of time and money restoring them to pristine condition, a project that requires expensive, hard-to-find parts and high-quality materials. <\/p>\n\n\n\n

Classic car insurance<\/a>, or “collector auto insurance” (as some call it), is a special type of insurance policy that provides car collectors with extended-value coverage to reflect the actual cash value of a restored classic car. <\/p>\n\n\n\n

The best classic car insurance policies offer customizable coverage, agreed value options, spare parts coverage, and no annual mileage limits. If you’re a car collector or own a classic car, you need to know about the benefits of insurance for collector cars and the best policies available. <\/p>\n\n\n\n

What Is Classic Collector Car Insurance?<\/h2>\n\n\n\n

Classic car insurance coverage provides full auto coverage that reflects the actual cash value of a restored classic vehicle. Sometimes called vintage car insurance or antique car insurance<\/a>, these policies typically provide collision and comprehensive coverage along with base coverage on the agreed value of your classic car. <\/p>\n\n\n\n

Insurance for collector cars is calculated differently than regular car insurance. Most cars depreciate in value over time. Regular auto insurance reflects this depreciation with lower coverage rates and premiums that reflect a vehicle’s age. Classic cars are over 25 years old, which would typically suggest they have low value. However, exotic cars, muscle cars, hot rods, and vintage cars all have different factors that increase their value. A carefully restored antique car holds more value than a 25-year-old daily driver. Insurers use industry-leading tools and your input (facts and photos) for determining your car’s value and underwriting a custom classic car insurance policy. <\/p>\n\n\n\n

Collector car insurance is essential to avoid coverage gaps that might occur due to expensive replacement parts, unique requirements<\/a>, and the value gap between worn-out vehicles and fully restored classic cars. Classic vehicles and collector cars may spend considerable amounts of time in car storage<\/a> and often visit crowded events like car club gatherings, car-sharing<\/a> meets, parades, and car shows. To protect your collector vehicle under these unique circumstances, you need full insurance coverage designed for classic cars.<\/p>\n\n\n\n

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How Neighbor is changing car storage<\/h2>\r\n\t\t <\/header>\r\n\t\t
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Transparent monthly savings<\/h3>\r\n\t\t

Renters save 30-50% on car storage, on average. No rate hikes.<\/p>\r\n\t\t <\/div>\r\n\t\t

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Keep your car nearby<\/h3>\r\n\t\t

Find trusted car storage just minutes from where you live.<\/p>\r\n\t\t <\/div>\r\n\t\t

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Storage made simple<\/h3>\r\n\t\t

Don't settle for stone age tech and long contracts. Neighbor makes it easy.<\/p>\r\n\t\t <\/div>\r\n\t\t <\/section>\r\n\t\t