What Kind Of Insurance Do You Need For A Classic Car, RV, Or Hot Rod?

When insuring a classic car, hot rod, or RV, it's important to make sure you have the right kind of coverage. These vehicles are not like everyday cars, and they often require specialized insurance.

There are a few things to keep in mind when choosing insurance, including the insurance type, value, features needed, and how often you drive your vehicle.

What is a classic, antique, or collector car?

The exact definition of a classic car varies, but a collectible vehicle is generally at least 20 years old and used primarily for pleasure (rather than everyday driving). Classic cars can be anything from a vintage Mercedes-Benz to a Ford Mustang! These cars are also considered to be collectible because they have enough historical significance to make them worth preserving and restoring. Unlike today's cars, their value can appreciate over time.

In the insurance world, collector's cars are:

Used only occasionally for pleasure driving, shows, clubs, or parades.
Restored, maintained, preserved, or actively being restored to keep it in excellent condition.
Stored and protected in an enclosed building.

Why do I need insurance for my classic car?

Even if you don't regularly drive your classic vehicle, insurance is still important. Perhaps the most important reason to insure your collectible car is to protect your investment. These vehicles can be quite valuable, and if something were to happen, you could be left with a substantial financial loss.

Insurance also helps protect you from liability. If you are involved in an accident, you could be held responsible for damage or injuries that occur. If you don't have insurance, you could be on the hook for all of the costs.

So, if you own a classic car, be sure to get it insured! It could save you a lot of trouble and heartache down the road.

What does classic car insurance cover?

Classic car insurance policies are designed to protect your investment while assuming the vehicle will only be driven occasionally. There are different types of classic car insurance, but most policies will cover the following:

Physical damage to your vehicle
Liability coverage in case you cause injury or property damage to someone else
Medical payments for you and your passengers
Uninsured/underinsured motorist coverage in case you're hit by another driver who doesn't have insurance

You may also choose to insure the vehicle for its agreed value (the amount you and your insurer agree the vehicle is worth) or its market value (the amount it would sell for on the open market). The option you choose will depend on a number of factors, including how much coverage you need and how much you're willing to pay.

Next, you'll decide if you want liability only or comprehensive and collision coverage. Liability only covers damages caused to another vehicle or property. Comprehensive & collision coverage covers damages to your vehicle and other incidents like damage or loss due to weather or theft.

Most classic car insurance policies will also come with additional perks, like roadside assistance and trip interruption coverage. Every policy is different, and LW Short Insurance can help you choose the options you need and find the best rates so you can make a decision!

What about RV insurance?

You are required to carry insurance on all RVs, motorhomes, and travel trailers. However, how often you use your RV and its size (or class) will determine the specific kind of coverage you need.

The two principal types of RV insurance are for those used as primary residences (generally used over 150 days in the year), and others that are considered recreational vehicles.

RV insurance is similar to insurance for standard vehicles and includes liability coverage, comprehensive and collision coverage, uninsured/underinsured motorist coverage, and medical coverage. RV insurance may also include roadside assistance, coverage for personal items inside your RV, emergency expenses, pet insurance, and more depending on what may be useful during your travels!

We can help you find the best RV insurance coverage by considering things like the size and value of your RV, how often you use the vehicle, the type of coverage you want, and your budget.