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Does a car in the process of restoration need classic car insurance?

Perhaps you think that your latest vehicle purchase in Milford, CT doesn’t need insurance yet because you bought a classic car that needs a little work to make it road ready. However, it is important to have classic car insurance, specifically restoration coverage, from the moment of your purchase. Stop by White Oak Insurance LLC to learn more.

What does restoration coverage provide?

You get the peace of mind of knowing that if anything happened to your classic while you restore it, you would not lose the money you already invested. Adding restoration coverage to your classic car insurance means your policy automatically adjusts the value of the vehicle over time, typically on a quarterly basis.

Restoration coverage does come with one stipulation. You must restore your classic car using original manufacturer (OEM) parts and to the vehicle’s original design. That means you cannot use aftermarket parts. You also can’t make modifications to the original design; otherwise, it would not technically qualify as a restoration.

If you want the body of the classic vehicle but to upgrade the internal parts – the mechanical – to modern specifications, you’ll need standard auto insurance for it. If you want to restore a classic vehicle to its original factory-made specifications, you can cover it with classic car insurance and include restoration coverage on the policy to protect your ongoing work.

Advantages of Classic Car Coverage

Classic car insurance saves you money and costs less than regular auto insurance since you agree to drive the vehicle less frequently and keep it in a covered, secured garage.

Contact White Oak Insurance LLC serving Milford, CT to learn more about your classic car insurance options. Call us today.

How is classic car insurance different?

Classic cars are loved in Milford, CT. White Oak Insurance LLC wants to make sure every classic and antique owner can keep their favorite vehicle street legal for many years to come. That is why we offer classic car insurance. However, there are many laws and exemptions applying to a classic that are not considered for a regular vehicle. 

Classic cars do not need a title.

Vehicles with a model year over 20 years old are not required to have a title when registering with the Connecticut DMV. In lieu of a title, classic cars need registration from the previous owner. Other prerequisites for registration still apply. This includes having an acceptable form of identification and proof of insurance. 

Some classic cars are exempt from emissions testing.

Vehicles with the model year of 1996 or older are exempt from emissions testing within the state of Connecticut. Likewise, vehicles that are over 10 years old are not required to have a safety inspection. Classic vehicles made after 1996 are still required to undergo emissions testing every two years. 

Classic car value is limited by the state.

Special interest, rare, or antique vehicles cannot be assessed for more than $500 in value. Under this law, any vehicle that is over 20 years old can be considered a classic. Additionally, these vehicles must be considered as being preserved for historic interest. They cannot be altered or modified from the original manufacturer specification. 

Classic cars must be insured.

Every driver must carry liability insurance, even when they are driving a classic or antique vehicle. The state’s financial responsibility laws state drivers must have minimum liability insurance and uninsured motorist insurance. 

White Oak Insurance LLC is the one-stop shop for Milford, CT drivers who need insurance. Contact us today to discover what we can do to protect you and your classic car.

Why should I get classic car insurance?

If you are a car lover in the Milford, CT area owning a classic car could be a dream that you have. When you choose to get a classic car, you will want to know that it is properly covered by insurance. Those that do get a classic car insurance plan will benefit in several separate ways. 

Insurance Gives Protection for Your Vehicle

A key reason to always have a classic car insurance plan when you get a classic car is so you can get protection for your vehicle. Anyone that is a classic car owner will have a valuable asset that they will want to protect as well as possible. With a classic car insurance plan, you will be able to protect the value of this asset. With this insurance plan, you can negotiate a fair replacement value to ensure the collectible value is protected.

Insurance Offers Liability Risk

It would be best if you also got a classic car insurance plan to get liability insurance. Anyone driving a vehicle needs to have liability coverage. With a classic car, most drivers will drive infrequently. This means that their actual liability risk is lower than standard drivers. A classic car insurance plan can consider this when creating a policy.

Having a classic car insurance plan is very important if you are a classic car owner. Those who own a vehicle in Milford, CT should call White Oak Insurance LLC to discuss their insurance needs. If you speak with the White Oak Insurance LLC team, you can learn a lot about your different insurance options and needs. This can help ensure that you are properly covered and build the right plan for your situation. 

What is Classic Car Insurance?

That jalopy in your garage that you keep under a protective cover needs more than just a tarp and the garage space. It requires classic car insurance from White Oak Insurance LLC, serving Milford, CT.

Why classic car insurance?

Typically, you will pay less for more coverage of your vehicle that is aged 25 years or older. With classic car insurance, you agree to drive your antique or classic automobile less than 1,000 for the year of coverage. Essentially, you get to drive it in parades and to car shows. That is it. You cannot use it for your commute or running errands, etc.

In exchange for this very limited use, you will get low premiums plus a choice between a policy that uses agreed-upon value or replacement value. That benefits you because most auto policies pay based on the current blue book value of a vehicle. Your pristinely restored 1963 Chevrolet Corvette Sting Ray with the convertible top that they only produced for six months of the year would get you a couple of thousand bucks if you were lucky when using regular auto coverage. A classic car policy though covers your baby at an agreed-upon value you negotiate with the insurance agency at the time you purchase the policy or the replacement cost of the vehicle as you have restored it. That means you would get the $148,000 necessary to actually replace your Concours rated Corvette with another Concours rated Corvette.

After you have put the effort in to restore or rebuild a vehicle, you want it to remain perfect. Perhaps the accident that occurs does not total the vehicle. Maybe it only amounts to a fender bender. The classic car coverage pays for genuine replacement parts of the same model year and make. That helps you keep your restored vehicle at a Concours rating.

Call or email White Oak Insurance LLC today to find out how best to protect that cherry coupe you have tucked away in your Milford, CT garage. We can help you insure your classic or antique vehicle, to protect the hard work you devoted to its preservation.

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