Classic Car Insurance in New Hampshire

Also providing classic car insurance to residents in Massachusetts, Maine, Rhode Island, & Vermont.

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What is classic car insurance?

Owning a classic car is much more than driving a standard vehicle, and they thus require more than standard auto insurance. Classic car insurance can provide the standard and less common auto coverages that New Hampshire drivers with these vehicles need.

Classic car insurance provides coverage that’s tailored for older, exotic and rare vehicles. Policies may cover classic cars, classic trucks and other vehicles that aren’t common.

Who in New Hampshire should consider antique car insurance?

Antique car insurance is mainly for vehicles at least 25 years old, although it may cover cars just 10 years old, exotic or otherwise rare. New Hampshire drivers with such cars might want a policy.

While these vehicles are typically eligible for standard auto policies, standard auto insurance frequently doesn’t offer the additional protections that these vehicles should have.

What protections are offered through antique car policies?

Antique car insurance offers both standard and non-standard auto protections. Some of the basic coverages that are typically found in standard auto insurance policies include:

• Personal Injury Protection (PIP): Might cover injuries to occupants in the insured classic car.
• Bodily Injury Liability Coverage: Might cover injuries to individuals not in the insured classic car.
• Comprehensive Coverage: Might cover non-collision damage to the classic car (i.e. animal strikes, theft, fire, etc.).
• Collision Coverage: Might cover collision-related damages to the insured vehicle (i.e. accidents with another vehicle)
• Property Damage Liability Coverage: Might cover damage to other people’s property, including other vehicles.
• Underinsured/Uninsured Motorist Coverage: Might cover accidents involving inadequately insured, and hit and run accidents.

Some coverages that are more unique to antique car policies include

• Agreed (Guaranteed) Value Coverage: May insure the classic car up to an agreed-upon value.
• Flexible Usage Allowance: May cover during events, such as car shows, charity fundraisers or driver meetups.
• Spare Parts Coverage: May cover the additional cost of making repairs with OEM parts, even if they’re difficult to locate.
• Collectible Car Roadside Assistance: May cover the additional cost of enhanced roadside services, such as guaranteed flatbed towing.

How do agreed value and stated value classic car policies differ?

Many classic car policies provide either stated value coverage or agreed value coverage. The two coverages can differ in how much protection they offer for the insured vehicle if it’s totaled.

Agreed value coverage normally insures up to an agreed-upon amount, which is set at the time of purchasing the policy. The amount is generally guaranteed to be paid if the vehicle is totaled, even if this agreed amount is more than the car’s fair market value when it’s totaled. This is sometimes alternatively called agreed value coverage. 

Stated value coverage normally insures the vehicle based on its fair market value at the time of a claim. The value is determined using the auctions, sales and appraisals of similar vehicles.

While stated value is fine for most common cars, it may not provide sufficient protection when insuring a classic or rare vehicle. Classic car owners often prefer agreed value for several reasons:

• Restoration costs may exceed the fair market value of a vehicle
• All that’s invested in a vehicle could exceed its fair market value
• Fair market value may be difficult to determine

If an agreed value policy is preferable, this is something that an insurance agent specializing in antique car policies can assist with.

Can anyone drive a vehicle that’s insured with antique car insurance?

Antique car insurance doesn’t necessarily cover all drivers. For example, some antique car policies might not cover drivers under age 25 (or some other age). Other policies might cover all licensed drivers who get behind the wheel, however.

A knowledgeable agent can check a policy’s terms, to see which drivers may be covered.

Where can drivers in New Hampshire find classic car insurance for their vehicles?

If you’re in New Hampshire and looking to insure your classic or exotic car, contact the independent agents at Insurance24. We’ll help you find a classic car insurance policy that protects your vehicle well.