How Does Classic Car Insurance Differ From Regular Auto Insurance?

Understanding Classic Car Insurance Needs: A Guide for Amityville, NY Classic Car Owners

Being a classic car owner in the Amityville, NY community is, undoubtedly, not just about having a means of transportation. It’s about cherishing and preserving a valuable asset that demands unique insurance needs. This blog post from Acme Insurance Brokerage focuses on the distinct difference between classic car and regular auto insurance.

Agreed Value Coverage

A significant factor separating classic car insurance from regular car insurance is how the vehicle’s value is determined. Classic car insurance often operates on an agreed-value coverage premise. This means you and the insurance company agree on the vehicle’s value at the beginning of the policy. Consequently, in the unfortunate event of a complete loss, you initially receive the value agreed upon.

Limited Usage

Another crucial facet of classic car insurance is its usage limitation. Many policies stipulate the vehicle should only be used for exhibitions, club events, or recreational purposes – not for everyday commuting. This controlled usage helps reduce the potential risk of accidents and subsequently keeps the insurance premiums more attainable.

Specialized Coverage Options

Classic car insurance policies often offer specialized coverage options to cater to classic car owner’s unique needs. These could include coverage for restoration costs by certified mechanics and spare parts replacements.

Qualification Requirements

Qualifying for classic car insurance generally comes with specific prerequisites regarding the vehicle’s age, condition, and usage. In essence, to qualify as a classic car, your vehicle should meet requisite criteria like being of a certain age, being adequately maintained, and retaining its base features.

In conclusion, classic car insurance and regular auto insurance differ in several ways, including agreed-value coverage, limited usage, specialized coverage options, preservation of originality, and qualification requirements. If you are a classic car owner in Amityville, NY, and need help securing the appropriate insurance coverage for your vehicle, get in touch with Acme Insurance Brokerage today.

Will my 1975 VW Bug qualify for classic car insurance?

If you own a car that’s at least twenty years or older, you may wonder if your vehicle is eligible for classic car insurance. We all know that tons of older cars are on the road, but they can’t all be considered classic…or can they? Our team at Acme Insurance Brokerage is committed to taking the confusion out of classic car insurance for Amityville, NY residents.

What is Classic Car Insurance?

Classic car insurance is car insurance designed for cars that are at least twenty years old or older. Classic car coverage includes liability, comprehensive, and collision coverage, as well as other forms of specialized coverage. Generally, you and the classic car insurance company place an agreed-upon value on your classic car, unlike conventional car insurance, which focuses on a vehicle’s actual value.

Typically, cars that are considered "classic" aren’t driven daily. It should also be noted that the definition of a classic car can vary from one insurance company to the next. However, there are general qualifications that apply to most classic cars. Most classic cars have historical interest and have been maintained in their original condition with their original specs. 

Is my 1975 VW Bug eligible for classic car insurance?

Your VW Bug may be eligible for classic car insurance. The insurance company you choose will help to determine if it’s eligible. However, there’s a good chance it would be because VW Bugs have historical interests. If your vehicle isn’t your daily driver and its original design and specs have been maintained, it may be eligible for classic car insurance. If you have more questions regarding classic car eligibility, we’d be happy to answer them. Call our office in Amityville, NY. 

What Does Classic Car Insurance Cover?

Do you have a classic, exotic, or modified car? If you do, you have reason to be concerned about what your insurance company would offer you if you totaled it. Acme Insurance Brokerage serving Amityville, NY can help you lock in a fair value for your car that makes replacement possible.

Insurance companies insure classic, exotic, and modified cars in three ways. Let’s start with the valuation method nearly everyone has on their classic car.

Actual Cash Value, or ACV

Actual cash value means saying "what your car was worth just before you crashed it." More precisely, ACV is what an adjuster thinks your car was worth before you crashed it.

If you disagree with the adjuster, you must present evidence to support your claim. This can be hard to do if you are recovering from injuries you sustained in a crash. If you can’t come to an agreement on the value of your car, you may have to go into mediation or take your insurance company to court. This can be a significant hassle.

Agreed Value

When actual cash value is the problem, the agreed value is the solution. If an agreed value is written up properly in your policy, there isn’t any wiggle room on the value of your car. But if you aren’t getting your coverage at Acme Insurance Brokerage in Amityville, NY, you may actually be getting the third valuation method with your policy.

Stated Value

When you get your classic car insurance online from one of the big companies, you will almost always get coverage for the stated value of your car. 

You might think that the agreed and stated values are the same, and you are covered either way. But many insurance companies include a clause in the policy that says, "In the event of theft or a total loss, we will pay the Stated Value or the Actual Cash Value, whichever is less."

In other words, you can state the value of your classic car, and the insurance company can ignore it.

Don’t try to get insurance for your classic car on your own. Let Acme Insurance Brokerage serving Amityville, NY help you find exactly the coverage you need.

5 Mistakes to Avoid When Buying Classic Car Insurance

You finally did it. After years of dreaming, you took the plunge and bought your classic car. Whether a mint-condition Mustang or a lovingly restored Chevy, your classic car is your pride and joy. But before you hit the open road, there’s one crucial step you need to take: Insuring your classic car properly. Classic car insurance is different from regular auto insurance, and there are a few mistakes to avoid. Here are five of the most common.

1. Not Shopping Around for the Best Policy

When insuring your classic car, don’t just go with the first policy you find. Like with regular auto insurance, there are various options out there, and you want to ensure you find the best one for your needs. Get quotes from multiple insurers and compare their coverage options and rates.

2. Not Getting Enough Coverage

Just because your car is old doesn’t mean it’s not valuable. Some classic cars can be worth hundreds of thousands of dollars. Ensure you get enough coverage to protect your investment in an accident or theft.

3. Not Reading the Policy Carefully

When buying insurance, it’s important to read the policy carefully to know what’s covered and what isn’t. Don’t just skim over the policy; take the time to read it thoroughly so you know exactly what you’re getting.

4. Omitting or Misrepresenting Information

When applying for classic car insurance, it’s essential to be honest about your car and driving habits. Omitting or misrepresenting information on your application can lead to problems if you have to make a claim later.

5. Thinking Your Normal Auto Insurance Policy Covers Classic Cars

Most standard auto insurance policies will not cover classic cars. If you want your classic car to be adequately protected, you need to get a separate policy that specifically covers them.

Get Classic Car Insurance in Amityville, NY

Classic car insurance is a must if you want to protect your classic car investment. Acme Insurance Brokerage offers excellent classic car insurance policies at affordable rates. Contact us today to get a quote.

Classic Car Insurance FAQs

Puzzled by classic car insurance in Amityville, NY? You are not alone because most people have difficulties differentiating this coverage from standard auto insurance. So, if you have a 1969 Chevy Camaro or 1964 Ford Mustang, you must understand how classic car insurance operates to protect your prized toy. Acme Insurance Brokerage has prepared a FAQs section to shed more light on classic car insurance.

What is classic car insurance?

While standard auto insurance can protect your classic, it won’t offer full value when you suffer a total loss. Classic car insurance is an insurance plan specifically designed to protect your classic or antique car when driving, exhibiting, or restoring your vehicle.

What is the agreed value, and why does it matter?

Typical standard auto insurance policies use the actual cash value to protect your car. Simply put, the insurer compensates you after knocking off depreciation from the value of your vehicle. But since classic cars maintain or appreciate in value, actual cash value can’t work. Agreed value works because you get your classic’s actual value (compensation) when totaled or stolen.

Is classic car insurance mandatory?

Your collector’s car is a vehicle and poses the same risks, just like your conventional automobile. So, yes, classic car insurance is mandatory in New York and other states. To legally drive your classic car in New York, you must at least invest in the state-required liability coverage.

Is classic car insurance expensive?

Unlike a popular misconception, classic car insurance is surprisingly affordable. Because you don’t drive your classic or exotic car every day, the risk exposure is minimal, translating to affordable premiums.

Where can I purchase classic car insurance?

If you are in Amityville, NY and its environs, you don’t have to work extra hard to purchase a salient classic car insurance policy that protects your memories and heritage. All you need to do is contact Acme Insurance Brokerage, and we will guide you from there.

Things You Should Know About Classic Car Insurance

If you are an owner of a classic car, you know that purchasing, modifying, and maintaining your precious vehicles cost a lot of money. Therefore, you want to do your best to protect your precious belonging. The best way to do that is to get classic car insurance that will provide your classic car with the protection it deserves. If you are currently looking for an insurance policy, Acme Insurance Brokerage serving Amityville, NY created a list of things you should know about it: 

  • Your car must be old enough in order to be considered classic and be eligible for classic car insurance. Classic cars are at least 10 years old. Moreover, they also need to achieve historic or rare interest through being restored, maintained, and preserved. 
  • Standard auto insurance is different from classic insurance. Your standard auto insurance policy may not cover the actual value of your classic vehicle. Typical classic car insurance will cover the full agreed value of the car minus the deductible and/or the car’s salvage value. 
  • There are certain factors affecting the cost of classic car insurance. These factors include the following: location and storage of your vehicle, the value of your classic car, and how you drive your car (remember that classic cars are not made for regular everyday use). 

Acme Insurance Brokerage – We Will Find a Perfect Policy For Your Precious Car

If you are a resident of Amityville, NY or another nearby town and lucky owner of a precious classic car that needs to be insured, Acme Insurance Brokerage will help you find a perfect policy. Our insurance agents will answer all of your questions and provide you with the information you need. Feel free to visit our website or give us a call for more information. 

Do we need classic car insurance in New York?

For car lovers that live in and around Amityville, NY, owning a classic car can be the ultimate dream. If you do decide to purchase a classic car here, it will be a prized possession and asset that you need to properly care for. Part of this includes getting the right insurance for it. There are a few reasons why you should get a classic car insurance plan. 

Get Proper Replacement Coverage

A reason that you should get a classic car insurance plan is that you can receive appropriate replacement coverage. A classic car is a unique type of vehicle as it can appreciate in value over time. Due to this, you will want to know that the replacement value of it is properly insured. When you get a classic car insurance plan, it will give you an opportunity to negotiate the replacement value with the insurer to ensure the collectible value is protected. 

Liability Coverage

When you have a classic car insurance plan, you are also going to receive liability coverage. This is a required form of insurance to drive any type of car in New York. Those that are going to get one of these vehicles will likely drive it infrequently, which means the actual liability risk is lower than it would be with a standard car. A classic car insurance plan will reflect this. 

When you are a classic car owner in the Amityville, NY area, having the right insurance is important. Since there are complexities that come with picking this type of protection, it would be wise for you to call the Acme Insurance Brokerage. The Acme Insurance Brokerage can help you be addressing your questions and assessing your coverage options. Based on this assessment you will be able to determine what coverage you need and build a policy that properly protects you. 

What You Should Know About Classic Car Insurance?

Classic car insurance is a nonstandard type of insurance that was created to meet the insurance needs of classic and vintage car collectors. Since it is a specialized type of coverage, there are certain things you need to know about it before you get one to cover your precious vehicle. 

Type of a Classic Car

A car can be qualified as a classic car if it falls under any of three categories: Edwardian (cars made in the period between January 1905 and December 1918), Veterans (cars made on or before December 1904),  and Limited (special interest, rare vehicles, or limited editions). 


Your car must be at least 15 years old to be considered a classic car. Some insurance companies provide classic car insurance to vehicles that are under 15 years of age if these cars are considered rare, exotic, or cherished. 

Storage Requirements

There are quite strict storage requirements for classic cars to be eligible for classic car insurance. A classic car should not be parked outside of your home. A classic or vintage vehicle should be kept in a highly secure garage or a special storage facility created for storing and securing car collections. 

Insuring a classic car is different from getting insurance for your regular automobile. Therefore, if you are a lucky classic car owner from Amityville, NY, you should take your time to find a perfect insurance plan for your precious possession. If you need assistance, Acme Insurance Brokerage serving Amityville, NY, and other surrounding areas is ready to help you. Give Acme Insurance Brokerage a call and talk to one of our experienced agents to get more information about insuring your special vehicle.

How Classic Car Insurance Works

When you own a vehicle, you must have insurance coverage to protect your investment and this includes classic cars. Whether you own a 2020 Camaro or a 1968 Mustang, you need to have coverage to protect your investment. Acme Insurance Brokerage has the tools to get you started with a policy in Long Island or Amityville, NY.

A Classic Car Policy

When it comes to classic car insurance, you need to obtain a more unique policy to insure your car versus the policy you would have for your non-classic vehicle. This holds true for not only classic cars but also for collectors and performance cars since the repairs could be more complicated, specialized, and expensive than when it comes to a newer vehicle.

Classic and collector cars tend to be more tempting for thieves or vandals due to their rarity and value which means the type of insurance you purchase to protect your car is even more important. Although repairs might be more expensive, the plus side for classic car owners is that the policy you obtain does not have to be more costly.

Vehicles that are considered classic cars include antique cars that are over 25 years old, exotic or luxury cars, hotrods and other modified vehicles, muscle cars, vintage military vehicles, and classic trucks.

When it comes to the replacement costs for your classic vehicle, there is a major difference from the replacement cost for your standard vehicle. If there is a loss of your vehicle due to theft or disaster, classic car insurance will pay you the agreed or guaranteed replacement cost while standard auto insurance policies will only pay out the depreciated value of your vehicle at the time of your loss, which is the actual cash value of the vehicle.

To obtain the classic car insurance that will be suitable for you and your situation, you need an agent you can trust. The classic car insurance agents at Acme Insurance Brokerage in Amityville, NY have the skills and knowledge to provide you with the best policy and can assist you today. Contact our office to get started with a quote.