We meet quite a few people that have a “special” low mileage car that they keep for driving on the weekends, or because it was just the first car they bought new. There are essentially four different types of cars that can be written on a “specialty” collector car insurance policy – and these categories are the same whether you live in Texas, California, Arizona, New Mexico, Missouri, or anywhere else.
1. The Antique class car is at least 25 years old in original condition – or close. It can certainly be restored, but it must not be significantly altered from the stock configurantion. If it was fast to start with, and that is original to the vehicle, then it counts as an antique. A 1973 Mustang Mach 1 is in the same class as a 1981 Toyota Corona. One is cooler, but we won’t judge you for liking Mustangs.
2. The Modified Auto class is made up of cars that are at least 20 years old, or a replica of a car. These cars can be extensively changed from original, hot-rodded, customized, or made up of random parts you picked up off of the side of the road.
3. The Classic car class consists of original unmodified vehicles that are “younger” at 15-24 years old. This is where you can place your fully restored 1988 Nissan Maxima that you drive on weekends to show off for the ladies. This car also needs ot be original and unmodified to fit this category.
4. The Exotic Car class is a “newer” car, less than 14 years old. these cars are either luxury or performance automobiles, must be considered collectible to qualify, and must be appreciating in value. this would include cars like Vipers, Lamborginis, Ferraris, Corvettes, and so on.
Remember that when you are trying to decide if your auto needs a “specialty” policy that you must have an every day car to drive. If you saved your pennies to buy the Corvette you have always wanted, I hope you kept your Neon to drive most of the time. Specialty auto policies are generally mileage limited, so you have to have something else to make a chicken soup run with. If you have a special car that you only drive on weekends, you really do owe it to yourself to look into a classic car policy – if you qualify, you can get a great policy for less than $200 a year. That is a full coverage policy with a zero deductible. That makes the Daihatsu you keep in the garage a whole different animal, doesn’t it?