Why Antique and Classic Car Insurance Needs a Biannual Checkup

For most antique car collectors, preserving and enjoying a bit of automotive history is a lifestyle. These classics aren’t just cars — they’re rolling, functional works of art tied to the American story. If you’ve invested time, care, and money into that legacy, your antique car insurance should reflect it.

Whether you’re prepping for a summer of shows or tucking your car away for winter, it’s excellent advice to revisit your coverage at least twice a year. As your vehicle’s condition, usage, and value change, a biannual review ensures your policy reflects the current state of your investment and provides the protection it deserves.

Why Biannual Reviews Matter

No two driving seasons are the same for classic car owners. A policy written years ago may no longer reflect what your vehicle is worth or how you use it.

Here’s why a twice-a-year insurance review makes sense:

• Seasonal use changes exposure. You may drive more in spring and summer, attend shows, or join club events. Storage in fall and winter brings different risks.
• Restorations increase value. Even modest improvements, such as upgraded upholstery or paint, can increase your vehicle’s appraised value.
• Market values fluctuate. Classic car values rise and fall based on demand. Staying current helps ensure you’re not underinsured.
• Accessories and parts add up. Your coverage should reflect aftermarket wheels, rare parts, or new tools.

Baby boomers are credited with creating the classic car market. Regardless of your antique collector demographic, reviewing your antique car insurance policy biannually lets you reduce the risk of coverage gaps and enjoy peace of mind during your most active driving months.

What Makes Antique Car Insurance So Unique?

Antique car insurance is a specialized policy designed for a different kind of driver and vehicle, offering unique features that you may not be aware of. Here’s how it stands apart.

• Agreed value coverage: You and your insurer agree on the car’s value upfront. If there’s a total loss, you’re paid that amount, not the depreciated market value.
• Limited mileage allowances: Most policies assume the vehicle isn’t a daily driver, which helps keep premiums low.
• Specialized claims handling: Adjusters understand the unique considerations involved in classic vehicle repairs and restoration.

Some antique car policies also include extras, such as flatbed towing, spare parts and tools coverage, event interruption protection, or discounts for car club membership.

Key Features To Know

• Show and parade coverage: Protects the vehicle during public displays or when in motion for exhibitions
• Restoration reimbursement: Covers specific work done to improve or preserve your vehicle
• Storage-specific provisions: Offers protection while your car is stored in a garage or facility, including damage from water, fire, or theft

Standard auto insurance typically excludes these options, despite their crucial role in protecting collectors’ items.

When To Update Your Policy

Life with an antique vehicle doesn’t stand still. That’s why it’s crucial to take a proactive approach and ensure your policy is regularly updated to reflect changes in your vehicle’s value, condition, and usage.

Review your policy if:

• You complete a restoration or add significant upgrades
• You change storage locations or upgrade your security setup
• Your car is newly appraised or enters a different value category
• You begin attending shows or driving more frequently
• You install custom equipment or rare factory parts

If any of these changes apply and your policy isn’t adjusted, you may be underinsured. Additionally, you could face claim delays or denials if the policy no longer matches your car’s condition or usage.

Protecting Your Investment Long-Term

A classic car is a long-term investment. Protecting it should be part of a long-term strategy.

Here’s how to stay ahead:

• Build a habit: Set a calendar reminder to review your policy every six months.
• Work with a knowledgeable advisor: General auto insurance agents may not understand the unique needs of classic car owners.
• Document updates: Keep records of restorations, appraisals, and event participation to support coverage adjustments.

At Dickstein & Associates, we specialize in tailoring insurance for antique and classic vehicles. We’ll help you understand what’s covered, what’s not, and how to tailor your policy to your vehicle’s use and value.

Get in touch with us to schedule your biannual review. You should not settle for a generic policy for your classic car. Let’s make sure your coverage grows with it.

About Dickstein Associates Agency

We recognize the significance of providing a protective shield for your home and your prized vehicles. At Dickstein Associates Agency, we tailor insurance policies to match your lifestyle and the unique value of what you own. Contact us today for a personalized consultation.