Classic, Antique & Collector Car Insurance – Charleston, SC

Posted: October 31, 2018

A classic car is more than just a vehicle. We understand the level of care and passion you have for your vintage beauty, and we are here to offer you peace of mind knowing that your treasured car is protected. King Street Agency is proud to offer antique, collector and classic car insurance in Charleston, SC. Learn more about this policy and coverage options below, and contact us today to request a quote.

What Kinds Of Cars Qualify?

When it comes to classic car insurance vs standard car insurance, it’s important to note that your car must meet certain specifications for these kinds of policies. There are often age requirements as well as usage limitations involved. In general, classic cars are considered “pleasure” vehicles that maintain or appreciate value over time.

Here are a few general age guidelines and usage restrictions for vehicles covered under classic or antique car insurance policies:

  • Classic / Collector Cars: Must be at least 10 years old. Can include modified antiques, limited production cars, and other cars with some historical significance.
  • Antique Car: A motor vehicle 25 years old or older. To be considered an antique, it cannot be modified or have been restored to its original condition.
  • Limited Use: Generally, classic or antique cars under these policies can be used only on a limited basis, such as exhibitions, club activities or parades. Ask your insurance agent about a flexible usage policy, which restricts use based on mileage (i.e. 2,500-5,000 miles per year) rather than to certain kinds of events only.

Other restrictions may apply. Ask a King Street Agency insurance agent if your car can be insured through this kind of policy. If your car is not a classic, we’ll still insure you. You may just need to get a standard auto policy rather than a classic car policy.

Do You Need Classic Car Insurance?

All classic and antique cars are unique, so client needs for coverage will often vary. That said, here are some scenarios common to many classic and antique car owners seeking insurance:

  • You frequent car shows. If you only intend to use your car for exhibition purposes, you can get a policy that reflects that. Be sure to ask about “no attendance” coverage for damages that may occur while you’re away from your vehicle at a show.
  • You want to drive your car around town. You want to enjoy your car around town (and sure, maybe show it off a little too). Flexible usage coverage can keep you covered for trips to the grocery store, visiting a relative, errands, etc.—up to a certain annual mileage.
  • You want to take your car abroad. Do you want to attend a car event in a foreign country? If you’re attending an event like a European classic car rally, be sure to let your agent know, as you may need unique coverage abroad.
  • You need replacement parts. Standard car insurance policies may not cover spare or replacement parts for classic cars, as they can be rare and expensive. Classic car insurance can offer you peace of mind.
  • You experience a total loss. Classic and antique car insurance policies can offer Agreed Value coverage in the event of a total loss accident.

Types of Coverage

Our agents can work closely with you to ensure you get the coverage you need. Here are some common types of coverages available with antique and classic car insurance policies. Note that this is not a complete list of all possible coverages, and this is not a statement of contract:

  • Medical Payments / No Fault
  • Comprehensive
  • Collision
  • Car show expenses
  • Uninsured / Underinsured Motor Vehicle
  • Towing & Roadside Assistance
  • Spare Parts coverage
  • Windshield & Safety Glass Coverage
  • Loss of Earnings
  • Multi-Vehicle Discount

This list is meant to give you an idea of potential coverages. For more information, please contact a King Street Agency insurance agent.

How Is Classic Car Insurance Different Than Regular Car Insurance?

Insuring a classic or collector car has a few key differences than a standard car insurance policy. Here’s what you need to know:

  • Classic car insurance can be cheaper. You can often get a classic car policy for up to 40 percent less than a standard auto rate. At King Street Agency, we work with an expansive network of providers to help ensure you get the lowest rates possible.
  • Usage restrictions. As we mentioned above, there is often a usage restriction involved in classic car policies that is not in effect with standard policies. Generally, to ensure a classic, collector, vintage or antique vehicle, you will need to keep it in a garage, use it as a non-daily vehicle, and keep it in good condition.
  • Special Event Coverage: Ask your insurance agent about specific coverage for events like trade shows, collector club outings, exhibitions and tours. Be sure to ask about occasional pleasure driving if you want to do that as well.

Agreed vs Stated Value Insurance Coverage

Many classic car policies will insure the vehicle for an agreed value. This is the value that you will receive in the event of a total loss. Prior to issuing your policy, we will work with you to determine the value of your car. This value agreement will be based on your car’s current market value, condition and other factors. You can estimate the agreed value of your car through appraisals and other resources, like the DuPont Registry, ClassicCars, and Buy Classic Cars.

Get Started With King Street Agency

At King Street Agency, we always put our customers’ needs first. As an owner of a classic car, you have unique needs compared to many other car owners. Our agents are ready to answer your questions to help ensure you get the coverage you need.

To protect your specialty auto, call a King Street Agency insurance agent today.