When it comes to collector cars, everyone has a different opinion on what qualifies and which ones are the best. Ever-shifting parameters don’t help matters, making it difficult to pin down what cars actually fall into that category. And, as a result, the debate rages on. Although it can make for a fun conversation around the campfire, it is not as exciting to hash out while looking for collector car insurance for your vehicle. To figure out where your vehicle lies, check out the six main types of collector cars.
In general, the classics are at least 25 years old and garner interest from enthusiasts. If you want to join the Vintage Car Club of Canada, that’s all you need to qualify. Under those rules, your beloved 1968 BMW 2002, 1976 Chevy Nova, and 1983 Volkswagen Rabbit GTI are all fair game.
Many other car clubs, however, use tighter definitions to clearly spell out who can join and participate in their events. To sign up for the Classic Car Club of America, or CCCA, for example, your car needs a production date between 1915 and 1948. So, as long as you have a 1915 Dodge Touring, 1948 Porsche 356, or anything in between, you are good to go.
As far as collector car insurance goes, 25 years and older will usually do, though your insurer will need to verify the build makes the cut. There are many exceptions to the rule, so it definitely never hurts to ask.
With the exception of the CCCA, most consider cars older than 45 years ‘antiques.’ This definition ropes in cars built in 1975 and before, which puts a lot of previous classics into the antique category. Another thing about antiques is that they are generally expected to stay stock. So, skip the plans to transform your 1981 DeLorean DMC-12 into a time machine. Since OEM parts are often hard, if not impossible, to find, then OEM plus is okay. Anything beyond that and the car often falls into the modified category.
Modified collector vehicles land in this category due to their unique builds and loyal following. These cars are at least 15 years old with customizations that go well beyond their original build. Repaints and safety system upgrades need not apply. They are usually modified to improve their performance, appearance, or both. They may have upgraded engines, suspension, and braking components, for example, or wild paint jobs, rims, and all-new interior.
To qualify for classic car insurance, however, they must not be:
- Track driven race cars
- Drift cars
- Pro-street level drag cars
- Equipped with nitrous and the like
- Low riders
- Used in sound competitions
Replicas built to look like the 1963 to 1967 Shelby Cobra Roadster are similarly barred from these specialty insurance plans.
Modern collector cars are ones that easily steal the spotlight with their stunningly good looks and coveted rare factor. Across the board, they are 24 years old or less with fewer than 25,000 units produced in their line.
They come in a number of categories, including:
Special and limited edition cars qualify as well, such as the Laguna Seca Edition 2012 Ford Mustang Boss 302. Only 767 were made, making them truly rare and rather difficult to acquire. Many collector car enthusiasts have squirrelled them away in climate-controlled garages to preserve their investment well into the future. They have undoubtedly signed up for a good insurance plan for additional protection and true peace of mind.
Although collector cars fall into many different categories, one thing remains the same. They are all ultra-cool and well worth protecting. You can get started in preserving your investment by signing up for collector car insurance. To take that step, just call 1-844-929-4768 to reach our team at Wayfarer Insurance Group. We will help verify that your vehicle makes the cut and set up your perfect level of coverage.