Classic Car Insurance
Better coverage at a better price. Insurance built for classics, by a broker who understands your passion for classic or collector cars and vehicles.
As an independent auto insurance broker, we are not limited to only certain products from certain companies. We maintain relationships with several insurance companies. We will carefully assess your car insurance needs, then search for the product that best meets your requirements. We will make every effort to ensure you receive the most extensive coverage possible for the best price paid.
With over 80 years’ experience, we have a stellar reputation when it comes to providing exceptional value and quality service to our customers.
How does Classic and Antique Car Insurance Work?
Many classic car enthusiasts make the mistake of covering their collector car with standard auto insurance without realizing they’re both getting inadequate coverage and paying too much for it.
When it comes to insuring your classic car, at Strum Insurance we deal only with those who specialize in classic car insurance. A company that insures vehicles treated as collectibles typically offers rates much lower than companies that provide insurance for regular daily-use vehicles.
A company specializing in classic and collector car insurance is able to customize a policy to your unique needs as an owner of a collector vehicle. This results in better coverage for you than what’s offered by standard auto insurance policies. For example, unlike conventional coverage, in the event of a covered total loss, an agreed value policy such as one offered by a specialized classic car insurance company means you will receive the entire amount for which you have insured your classic car, less any deductible.
Essentially, if it was built from 1900 to 1972, it likely fits the bill. Whether you like to show off your prized possession or prefer to keep it safe and secure for your eyes only, care and protection of your antique or classic stock vehicle goes without saying.
Some people will suggest that if a vehicle is 20 or 25 years old, it is automatically a classic. (Just as people believe that any piece of furniture or art over 50 years old is automatically an antique.) This isn’t quite true for vehicles, and there’s good reason for it.
As automakers’ production numbers increased significantly in the mid-’70s – and quality standards fell concurrently – this had an effect on what vehicles are seen as collectibles. Some mid-’70s and ’80s vehicles are not considered collectibles. (As a rule of thumb, not many 4-door sedans from the mid-’70s and ’80s are considered collectible.) There are, however, a great deal that are viewed as collectible, particularly if they reflect one or more of the following characteristics.
- 2-door sports cars
- Unique body shapes
- Big block V8 engines
Some cars are considered instant classics, and attract loyal followings that help make them collectibles. Particularly if these cars are made by, say, Ferrari or Lamborghini, for example. Or the vehicles could be manufactured by mainstream domestic automakers but are limited production vehicles – such as the Dodge Viper or Plymouth Prowler, to provide just two more examples of vehicles considered collectibles, even if they reflect model years of 1990 or newer. As a rule of thumb, eligible model years are vehicles 15 years old or older. However, vehicles 0-14 years old can still be eligible, particularly in Ontario (as well as British Columbia and Nova Scotia).
Helping define exotic vehicles are characteristics such as cutting-edge design, technology or performance – as well as production numbers. Generally, exotic vehicles have annual production numbers of 3,000 or less.
And when it comes to what’s considered a special interest vehicle, these have rare features or come equipped with special edition packages that avid hobbyists consider collectible. Depending on their use, contemporary collectibles may qualify for money-saving coverage that offers the proper protection.
If collectible vehicles are part of your world, you’ll know that there are a whole host of other categories of vehicles that are precious and need protecting. Here are some typical examples:
- Modified Vehicles, including Street Rods, Replicas and Lowriders: If, for example, the paint job on your vehicle cost more than $10,000, it would fit into this category.
- Trucks and other Utility Vehicles: These collectibles are gaining in popularity. And to qualify for special coverage, they can no longer be used for such purposes as hauling or towing. They’re too old and precious for that.
- Retired Commercial Vehicles: These can include old and pampered fire trucks and buses and tow trucks, etc. As a classic and large vehicle, appropriate use and proper storage are key concerns.
- Trailers: These fall into two categories: the vehicle trailers designed to carry a collector vehicle, and street rod trailers typically pulled behind street rods and customs.
- Vehicles being actively restored: With these soon-to-be-shining specimens, good photographs and restoration details are vital.
- Military Vehicles: For such vehicles, coverage requirements will include being from 1985 or older, garaged, not used off-road or in battle re-enactments and, of course, with armaments removed or disabled.
- Tractors: Collectible insurance coverage criteria include being from 1980 or older, restored or in excellent original condition, garaged, and not put to any utility use.
Contact us to make sure you know your best options for protecting your classic or collector vehicle.