New Hampshire Classic Car Insurance
What is classic car insurance?
Classic car insurance is specialized auto insurance for older, well-cared-for vehicles. Policies have adjusted coverages to account for the special considerations of vintage cars and trucks.
Who in New Hampshire needs classic car insurance?
If you love getting out in your classic car for a Sunday drive, tinkering with it in the garage, or maybe showing it off at a car show, classic car insurance may be for you.
New Hampshire vehicles that are at least ten years old generally qualify for classic car insurance. Those that are at least 25 years old likely qualify for antique car insurance.
While New Hampshire technically doesn't require auto insurance, it’s highly recommended that all classic car owners have such a policy.
What coverages can drivers get through classic and antique car insurance policies?
While there can be minor differences between classic and antique car insurance policies, the two generally provide the same basic provisions. These include coverages that are common to most auto policies and some coverages that are more commonly found only in classic/antique policies.
Some of the protections that are common to most auto insurance policies include:
- Medical payments: Normally covers injuries for those in the insured vehicle
- Bodily Injury Liability Coverage: Normally covers injuries to people not in the insured vehicle
- Comprehensive Coverage: Normally covers vehicle damage occurring when not in a collision (such as fire, theft, glass coverage, etc.)
- Collision Coverage: Normally covers vehicle damage occurring after collision with another vehicle or object
- Property Damage Liability Coverage: Normally covers damage to property other than the vehicle
- Underinsured/Uninsured Motorist Coverage: Normally covers the injuries to you and people in your vehicle that are caused by another driver who is uninsured or underinsured
Some of the protections that are more often specific to classic/antique car policies include:
- Agreed/Guaranteed Value Coverage: Normally covers a classic vehicle for a predetermined amount
- Flexible Usage Allowance: Normally extends coverage to non-driving activities (e.g., showing)
- Spare Parts Coverage: Normally extends coverage for hard-to-find and expensive authentic parts
- Emergency Roadside for Collectible Cars: Could offer flatbed towing and other enhanced services
How are actual cash value, stated value, and agreed value car insurance policies different?
If collision and comprehensive coverage are purchased on a standard NH auto policy, the coverage is typically written on an actual cash value basis, meaning depreciation is considered in the settlement.
Stated value insurance policies reflect the agreed-upon amount of coverage stated at the start of the policy. It is usually up to the car owner to provide documentation verifying the vehicle's worth; however, at the time of loss, the insurance company can choose to pay either the stated amount or ACV, whichever is less.
Agreed value insurance policies can be used when a vehicle’s value is difficult to determine on the standard market, given the customization or care given to a particular vehicle. When this coverage is selected, the vehicle owner will provide photos, a current appraisal, and other documentation to prove the vehicle's value. This option is the preferred coverage to purchase when insuring your classic vehicle.
Can I insure my classic car on my NH auto policy?
You can add a classic or antique car onto a standard NH auto policy, but it is not advised for cost and coverage reasons.
You put a good amount of time and money into this car, but how much time did you take to insure it? If you simply added your classic car to the Car Insurance policy insuring your other cars, you could be short-changed in a claim.
Why do I need A NH classic auto insurance policy:
The typical automobile policy treats all vehicles basically the same. The settlement is based on actual cash value (ACV). At first glance, this can seem great as you know that the ACV of your classic car is high, but what if you can't prove it? What if the car is stolen or in a total loss? The value of a classic car varies based on its condition, so you want to be sure that you have the documentation and Antique Car Insurance coverage in place before a claim.
Vintage Car Insurance is different from ordinary Car Insurance because it's geared toward the actual collectible value of your car. It's one thing to be able to get another car, it's quite another to be able to replace your classic car.
You may also be surprised to learn that a classic car policy can be much less than insuring on a traditional automobile policy. Why? You probably put limited mileage on it, so the company rewards you for this with a lower premium.
Do I need NH classic car insurance or antique auto insurance?
Antique Car Insurance can vary depending on the insurance company. For example, some insurance companies require that a car be older than 25 years to qualify for an antique policy, while most companies require a classic car to be at least ten years old. Therefore, you should speak with your insurance professional to know if a Classic Auto Insurance or Antique Auto Policy is right for you.
Do classic and antique car policies cover all drivers?
Some classic and antique car policies may limit their coverage to drivers at least a certain age (e.g., 25 years old) or have a minimum amount of experience. Should a driver who doesn’t meet stipulated requirements get behind the wheel of a classic car, any claims that occur while driving could be jeopardized.
Before allowing a child or grandchild to drive a vehicle, drivers should review their policy with a knowledgeable insurance agent. An agent can review the policy for any driver qualification restrictions.
Why HPM Insurance:
HPM Insurance has been writing classic and antique cars for decades. We understand that your classic car is unlike any other, and we will work with you to ensure you are covered with the right Vintage Car Insurance policy.
In the same way, you customize your ride, you can customize your classic car policy: the car's value, the miles you need each year, and more can all be adjusted for you. You might be a driver that goes to all the shows, or you may drive only limited miles--pay for what you need.
When you insure your classic car on its own policy, the low cost and the numerous collector features that can be added to your classic car's policy will surprise you.
New Hampshire Classic Auto Insurance is available to anyone who needs to insure a car that is worth more than will be covered by a standard Vehicle Insurance policy.
Three Reasons to Contact HPM Insurance:
- Before going to another car show or taking the car out for a Sunday drive, make sure you have the right insurance.
- You may be able to get better coverage for less money by having a classic car policy or Vintage Car Insurance policy.
- Enter your zip code above, and we will get in touch with you to show you how to best insure your classic or antique car. The quote is free with no obligation.
HPM Insurance has been offering Bedford Classic Car Insurance to Bedford and New Hampshire residents for decades. We look forward to hearing from you.