The Old Car Insurance


If you’re the proud owner of a vintage car, you understand the  that comes with owning a piece of automotive history. However, with the joy of owning a classic car also comes the responsibility of insuring it. Classic car insurance can be expensive, but there’s an old car insurance trick that can help you save big on your vintage vehicle coverage. In this article, we’ll explore this ingenious trick and guide you through the process of securing affordable insurance for your beloved classic automobile.

Understanding Classic Car Insurance

Before we dive into the old car insurance trick, let’s first understand what classic car insurance entails. Classic car insurance is designed specifically for vintage and antique vehicles. Unlike standard auto insurance, which typically covers everyday cars, classic car insurance takes into account the unique needs of classic car owners.

 What Makes a Car “Classic”?

To qualify for classic car insurance, your vehicle usually needs to meet certain criteria:

  1. Age: Typically, a car must be at least 25 to 30 years old to be considered a classic.
  2. Limited Use: Classic cars are often expected to be used sparingly, such as for special occasions, exhibitions, or club events.
  3. Well-Maintained: Your vintage vehicle should be in good condition, both mechanically and aesthetically.

The Old Car Insurance Trick

Now, let’s uncover the secret to saving money on your classic car insurance. The old car insurance trick involves using an agreed-value policy rather than a standard policy. Here’s how it works:

Agreed-Value vs. Standard Insurance

  1. Agreed-Value Policy: With an agreed-value policy, you and your insurance provider mutually agree upon the value of your classic car. In the event of a covered loss, you will receive the agreed-upon amount, which is not subject to depreciation. This ensures that you’re adequately compensated for the true value of your vintage vehicle.
  2. Standard Insurance: Standard insurance policies often use actual cash value (ACV) to determine your payout in case of a claim. ACV takes into account depreciation, which means you might not receive the full value of your classic car.

The Advantages of an Agreed-Value Policy

  • Precise Coverage: Agreed-value policies provide precise coverage tailored to your car’s actual value, sparing you from potential undervaluation.
  • No Depreciation: Since there’s no depreciation factor, you’re assured of receiving the full agreed-upon amount in case of a total loss.
  • Affordability: Surprisingly, agreed-value policies can be more affordable than standard ones because they eliminate the risk of undervaluation.

How to Get an Agreed-Value Policy

Getting an agreed-value policy for your classic car is easier than you might think. Here’s a step-by-step guide:

 Step 1 – Find the Right Insurer

Look for insurance companies that specialize in classic car coverage. They have a better understanding of the unique needs of classic car owners.

 Step 2 – Appraisal

You’ll need to have your classic car appraised by a qualified professional. The appraisal will determine its current market value.

 Step 3 – Negotiate

Work with your chosen insurer to negotiate the agreed value of your classic car. Be prepared to provide documentation to support your valuation.

 Step 4 – Secure the Policy

Once you and the insurer agree on the value, secure your agreed-value policy, and ensure it covers your vintage vehicle adequately.

Maintaining Your Classic Car Insurance

 Regular Maintenance

To ensure that your agreed-value policy remains valid and your classic car stays in excellent condition, regular maintenance is essential. Keep up with scheduled maintenance tasks, including oil changes, brake inspections, and engine tune-ups. This not only preserves the value of your vehicle but also demonstrates to your insurer that you’re a responsible owner.

Secure Storage

Storing your classic car in a secure location is crucial. Ideally, you should keep it in a garage or storage facility that protects it from the elements, theft, and vandalism. Many insurance providers offer discounts for vehicles stored in safe environments, so be sure to inquire about this potential cost-saving opportunity.

 Limited Mileage

Agreed-value policies often come with mileage restrictions. Be aware of these limitations and try to stay within the specified mileage to maintain your policy’s benefits. If you plan on taking longer trips, consult with your insurer to adjust your policy accordingly.

Additional Coverage Options

Roadside Assistance

Consider adding roadside assistance to your classic car insurance policy. Classic cars can be more prone to breakdowns due to their age, and having assistance on hand can save you from stressful situations during your drives.

 Spare Parts Coverage

If you’re restoring a classic car or need access to rare or vintage parts, inquire about spare parts coverage. This additional coverage can help you replace hard-to-find components in case of damage.

Periodic Reevaluation

As the years go by, the value of your classic car may appreciate significantly. It’s advisable to periodically reevaluate your agreed value with your insurance provider to ensure that it accurately reflects your vehicle’s current market worth. Failing to do so could result in being underinsured in the event of a claim.


 1. Is classic car insurance more expensive than regular auto insurance?

Classic car insurance can be more affordable than standard insurance, especially when you use an agreed-value policy.

2. Can I use my classic car for everyday driving with an agreed-value policy?

Most agreed-value policies require limited use for special occasions, exhibitions, or club events. Check with your insurer for specific terms.

 3. Do I need to get my classic car appraised regularly?

You typically need an initial appraisal to set the agreed value. Periodic appraisals may be required to update the value as your car appreciates.

 4. What happens if my classic car is stolen or totaled?

With an agreed-value policy, you’ll receive the agreed-upon amount, ensuring you’re compensated for the full value of your vintage vehicle.

 5. Can I switch from a standard insurance policy to an agreed-value policy for my classic car?

Yes, you can switch to an agreed-value policy if your classic car meets the insurer’s criteria. Contact your chosen insurer to discuss the transition.

Remember, this old car insurance trick can not only save you money but also provide the security and peace of mind your cherished classic car deserves.

In Summary

Owning a classic car is a rewarding experience, and protecting your investment with the right insurance is essential. The old car insurance trick of opting for an agreed-value policy is a smart move for classic car enthusiasts. It not only offers financial benefits but also guarantees that your beloved vintage vehicle is protected at its true value.

Remember to follow maintenance routines, store your car securely, and consider additional coverage options to enhance your classic car insurance. Periodically reassess the agreed value to account for any appreciation in your classic car’s worth. By taking these steps, you can enjoy peace of mind while cruising in your timeless classic car

If you have any more questions or need further advice regarding classic car insurance, feel free to reach out to your insurance provider. They can provide personalized guidance based on your specific needs and the unique characteristics of your classic vehicle. Happy driving

In conclusion, the old car insurance trick of opting for an agreed-value policy can be a game-changer for classic car owners. It provides the peace of mind that your vintage vehicle is protected at its true value, without breaking the bank. So, if you’re passionate about your classic car and want to ensure it’s properly insured, consider this trick to save big on your vintage vehicle coverage.

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