Policy Pitfalls: Common Mistakes To Avoid In Classic Car Insurance

detail photograph

If you’re a classic car enthusiast, you’re well aware of the unique challenges associated with insuring these valuable and often rare vehicles. While classic car insurance can protect your beloved car, you could be setting yourself up for added policy pitfalls if you’re not careful. Here are some of the most common mistakes to avoid when it comes to classic car insurance.

Not Shopping Around

Classic car insurance rates vary widely between providers, so it pays to shop around. Be sure to compare the different coverage options and discounts available from several different providers before settling on the right classic car policy for you.

Not Declaring a Vehicle’s Value

If you’re purchasing classic car insurance, you must declare a realistic and accurate value for your vehicle when completing the application. If you underestimate the value of your car, you could be underinsured in the event of a total loss or serious damage from an accident. Similarly, if you overstate the value of your car, you will be overpaying for too much coverage.

Rushing the Repair Process

If your classic car is damaged in an accident and requires repairs, the process can be tricky and time-consuming. As tempting as it may be to rush repairs and get your car back on the road as quickly as possible, it’s important to take your time when it comes to classic car restoration. This means using original parts and thoroughly researching any mechanics or body shops you hire to do the work.

Not Researching Your Policy

Before signing your classic car insurance policy, it’s important to thoroughly read through the coverage and exclusions to make sure you really understand what is and isn’t covered. Be sure to ask questions about anything you don’t understand, and look out for any fine print that could come back to haunt you in the future.

Forgetting Non-Competitive Use Exclusions

Most classic car insurance policies do not cover competitive off-road events such as rallies and drag races. That means if you plan to take your classic car to a race or other competitive event, you must purchase additional coverage for that purpose.


When it comes to classic car insurance, it’s important to do your research to make sure you’re getting the coverage you need at the best rate possible. Be sure to shop around, read through your policy carefully and avoid rushing repairs to ensure the best outcome for your beloved classic car.