Eligibility for Collector Car Insurance Plans
There is a common misconception that any car older than a certain age automatically qualifies for collector car insurance.
The truth is, classic car insurance is designed for collector vehicles that lead the “collector vehicle lifestyle”. That typically means that the car is in good condition, driven on a limited basis and not your daily-use vehicle.
How American Collectors Insurance Underwrites Collector Car Insurance Policies
At American Collectors Insurance, we streamline the process to purchased classic car insurance. The basic steps that go into our underwriting process are:
- Risk assessment: An American Collectors Insurance representative reviews your application information to evaluate the risk and confirm collector car insurance eligibility.
- Determine auto policy coverage: We evaluate the requested application details, underwrite the eligibility for the coverages requested on the application, and work with you to determine an appropriate Agreed Value limit.
- Approval: You’ll get a quick decision from us, informing you if you’ve been approved for collector car insurance.
Vehicle Usage: Does how I use my vehicle qualify?
We understand your collector vehicle needs to be driven. Taking your car for a drive to “give it some exercise” or simply to enjoy it on a nice day, is perfectly acceptable and considered part of the hobby.
Classic car insurance policies allow the classic car to be used for the following types of activities.
- Hobby-related purposes (e.g., car shows, club activities/functions, exhibitions, parades, tours, organized meets, etc.).
- Occasional pleasure-use driving.
- Infrequently for any other type of general use.
The following uses are generally NOT permitted on a collector vehicle policy:
- Is NOT used for regular commuting.
- Is NOT used as a back up to your regular vehicle.
- Is NOT used for business or commercial purposes.
- Is NOT driven off-road (off-road capable vehicles however that are kept in show quality condition and not used off-road may be considered).
- Is NOT used for racing of any kind.*
* Collector vehicles that are utilized for track, high-performance driving events (HPDE) or other competition events may be eligible for off-track coverage for physical damage only. No coverage is provided for on-track related damage or accidents.
Vehicle Eligibility: Does my car qualify?
We will consider any vehicle that has collector merit and is stable or appreciating in value. All vehicles covered on the collector vehicle policy must show pride of ownership and be well maintained.
In order to qualify for collector car insurance, the vehicle:
- Is in restored or good condition and generally free of rust, dents and damage.
- Does not have poor paint or heavy wear. This is not common with collector cars unless it’s a “Survivor” where patina is a part of the appeal.
- Is operated by experienced drivers.
- May be undergoing active restoration (where the renovation is scheduled to be completed within a year).
Vehicle Storage: What are the storage qualifications?
To be eligible for classic car insurance, vehicles must securely stored in a fully enclosed, locked storage facility or other approved structure when the vehicle is not being driven.
Alternative Vehicle Storage Methods:
In order to satisfy collector car insurance eligibility criteria, we will consider other alternative vehicle storage methods, including:**
- Private garage
- Pole barn
- Car condos
- Storage units
- Car hauling trailers
- Car Capsules designed for exterior storage
- Limited access (non-public) parking garages with 24-hour security such as an alarm system, security guard, or video surveillance
**Alternative vehicle storage eligibility guidelines vary by state.
Unacceptable vehicle storage methods:
- Street parking
- Parking lots
- Public parking garages
- Temporary storage facilities assembled of canvas or plastic (i.e., tents, domes or igloos)
Driver Eligibility: Does my household qualify?
In most states, we can only offer coverage to drivers who have not had a serious infraction within the last three years.
Significant Driver Eligibility Infractions:
Serious infractions that are ineligible for collector car insurance include:
- Alcohol-related offenses
- Reckless driving
- Excessive speed violations
- An applicant must have a clean driving record; however, one accident or one moving violation is allowed within the previous 3 years. Two violations are allowed within the household.
- All drivers/household members must have a valid driver’s license with at least five years of licensed driving experience and a clean driving history.
- Applicants must have a personal auto insurance policy listing them as the named insured on a vehicle owned and registered by the applicant in the same state as the collector vehicle.
- All drivers in the household must be reported. Drivers in the household must either be specifically listed on, or excluded from, the policy. Excluded drivers will not be covered to drive the collector vehicle.
- All drivers in the household must have a regular-use vehicle for daily driving. (Motorcycles and public transportation are not considered viable regular-use vehicles by our program in most cases. Contact us for details.)
Eligible Vehicle Types:
We know that different enthusiasts consider different vehicles collectible. Chances are, if you love it and care for it, we’ll cover it.
A wide variety of vehicles are eligible for classic car insurance, including:
- Sports cars of any age
- Muscle cars
- Street rods, hot rods, or rat rods
- Antique or vintage cars
- Modern classic cars
- Collector trucks and SUVs
- Antique tractors or farm vehicles
- Antique fire trucks
- Classic military vehicles
- Classic and antique motorcycles
- Limited edition or collectible vehicles
- Exotic and Special Interest vehicles
- Vintage race cars
- Kit cars
- Replicas and pro-street vehicles (subject to approval based on driver’s experience)
Modifications to the vehicle are generally acceptable but must be fully disclosed.
Why Choose American Collectors Insurance?
At American Collectors Insurance, we have over 40 years of experience providing auto insurance to car collectors across the country. We keep the underwriting process simple with fast quotes and a variety of coverage options to meet your needs.
Our policies are flexible while regular car insurance companies offer standardized policies with mileage limits that don’t allow you to enjoy your antique car. In the event of a total loss, our policies cover agreed value instead of actual cash value that is provided by regular auto insurance carriers.