Click to Call
New American Insurance, LLC

1030 Wildewood Centre Drive
Suite A
Columbia, SC 29229

Get Directions

Insurance Blog

The Ins and Outs of Classic Car Insurance

Classic car insurance helps to keep collectors safe from many problems. For example, suppose you’re investing in a new classic car in Columbia, SC, and want to keep it protected. In that case, we at New American Insurance can help you.

First, now that not every car will qualify for classic car insurance. Just because a car is old doesn’t necessarily mean it allows either. To get classic car insurance, you must make sure that your vehicle is:

  • At least 25 years of age or 20 years with collectible value 
  • Not your primary vehicle for transportation 
  • Not used for racing and has minimal on-road miles 
  • Stored in a climate-controlled or closed garage 
  • A high-end model, like some new Corvettes or Ferrari vehicles 

You must also have a clean driving record over the last 5-10 years and no more than one at-fault accident or moving violation in the previous three years. At that point, you can choose an insurance policy that works for your needs, including:

  • Agreed Value – This policy will pay out the amount that the vehicle was worth when you first took the policy. These classic cars may gain in value over time, so consider this option carefully. 
  • Tiered Mileage – When you limit the number of miles you put on your car, you give yourself the best chance of finding an excellent policy. 
  • Auto Show Medical – This policy will protect you if someone gets hurt at a car event where your vehicle is featured, minimizing your financial investment. 
  • Spare Parts – When parts of your vehicle are stolen or damaged (or the car itself is damaged), this protection will help pay for these often expensive items. 

If you are interested in any of these coverage options and want to cut back on your financial problems, please contact us at New American Insurance, serving Columbia, SC.

Who needs to get a classic car insurance plan?

If you are a car aficionado in the Columbia, SC area, you may dream of owning a classic car. If you decide to purchase a classic car here, you need to get the right insurance plan. There are several situations when someone should get a classic car insurance plan for their prized possession. 

Those that Want to Protect Collectible Value

A person should get a classic car insurance plan if they want to protect the full value of a vehicle. A classic car differs from other vehicles because it could greatly appreciate. Owners of classic cars need to get an insurance plan that protects this increased value. With a classic car insurance plan, you can work with your insurance provider to create a plan that properly covers the value of your classic car.

Those that Want to Drive Legally

You should also get a classic car insurance plan if you want to drive your car on state roads. Those in South Carolina will be required by law to have liability insurance when driving a car. This extends to those that drive classic cars. Since you likely will drive a classic car less frequently than you would other cars, your policy can be designed to reflect this reduced risk if you get a classic car insurance plan. 

Picking a classic car insurance plan for your Columbia, SC vehicle is a big decision. Those that are going to pick this type of insurance plan should call New American Insurance. Many factors will need to be considered, and New American Insurance can help you with this process. This will help ensure you pick the right plan for your classic car. 

States Served

  • South Carolina
  • North Carolina
  • Georgia
  • Maryland
  • Virginia

Testimonials

Partner Carriers

  • AmTrust
  • Chubb
  • Donegal
  • Encompass
  • Guard
  • Kemper
  • Liberty Mutual
  • Main Street
  • Nationwide
  • Safeco
  • State Auto
  • The Hartford
  • Travelers