Whether you own a 1941 Willys American hot rod, 1994 Ford Mustang SVT Cobra, or a 1966 Pontiac GTO, all classic cars are as close to your heart as ours! You probably want to insure your vintage beauty because many years of fun and enjoyment is associated with it. Trust us, your classic car deserves classic treatment! It should be kept clean, sheltered and well-maintained. Also be sure that you have the right Classic Car Insurance In Florida.

How Classic Car Insurance In Florida Differs?

They are street kings! Because classic cars or collector cars are generally 15 years old or even more, your standard automobile coverage can’t keep pace with their value or the level of insurance they require.

Let’s discuss 4 keys to a classic car insurance in Florida that sets it apart from traditional auto insurance policies in Florida.

• Classic Car Valuation:

Standard auto policies are valued on actual cash value (ACV). For example, if you make a brand new purchase of the Dodge Challenger in 2012 for $22,000 but got in a severe accident, your provider may only reimburse you ACV of approximately $14,000.

Whereas, classic car insurance in Florida usually covers your vehicle for ‘agreed value’ (guaranteed value), mutually agreeable to you and your provider. For example, if you own a 1966 Pontiac GTO with a value of $61,000 which suffers a total loss, your provider will compensate you the full amount of $61,000 with no reduction.

• Classic Car Protection:

Your policy for classic car insurance in Florida will likely require you to store your car in a properly enclosed garage to protect it from weather or any other natural disasters. Generally, classic cars increase their value, if well cared and restored.

• Classic Car Daily Usage:

Your insurance company will inquire about your daily use of the vehicle because a classic car cannot be used for daily driving purpose.

• Mileage Restrictions

Your insurance company can restrict you to a maximum mileage use of your classic car.

Eligibility for Classic Car Insurance in Florida

• Driver must be a minimum of 25 years old.
• He or she should have 5 to 10 years of experience and a good driving record.
• In addition to a classic car, the driver must have a daily used vehicle.
• The car should only be used for as a hobby or for pleasure driving, and not for racing. Many providers will not cover your classic car claim if you use the car to drive to work or other daily destinations such as grocery shopping.
• The applicant has no more than 1 minor accident within the last three years
• The applicant must keep a classic vehicle parked in the garage or other approved structure.

What Is The Cost Of Classic Car Insurance In Florida?

Classic car insurance in Florida is less expensive than a typical auto insurance policy, due to its mileage restriction per year and securing it in a safe location.

Usually Classic Car Insurance is not that expensive if you compare it to a standard auto insurance policy. In order to find out the actual half-yearly premium of your classic car, feel free to contact us. We also provide FREE expert guidance from our professional insurance underwriters.

However, auto insurance rates are rising each year in the US and you need to know why!