Insurance for Classic Cars in the State of New York 

Classic Car In New York

If you own a classic car that is at least 25 years old, the State of New York requires that you cover the vehicle with the minimum of both bodily injury liability and liability coverage for property damage.

But more than it just it being a state requirement, these vehicles are often hold irreplaceable memories, regularly-scheduled maintenance, hours of dedication for its upkeep, and numerous searches for hard-to-locate parts and components. Protecting it with car insurance is a must.

These are not insured in the same manner as your day-to-day vehicle since these carry a significant level of increased value. Before you invest on an insurance plan to protect your prized vehicle, there are a few things you need to determine.

Do I Have a Classic or an Antique?

In most instances, a classic car is one that is between one decade up to 24 years old and an antique is one that is 25 years or older. However, most use the term “classic” to describe antique vehicles.

In terms of classic car insurance in the State of New York, we are referring to those that are 25 years or older for the purpose and intent of this guide. 

How Is Classic Car Insurance Different?

Believe it or not, classic car insurance is typically cheaper than traditional car insurance. Unlike traditional insurance, though, your vehicle must meet certain guidelines to qualify for this type of insurance.

First, the vehicle must be used on an infrequent basis. That is, for car shows, parades, etc. It also must be stored in a secure manner. It cannot be left outdoors without protection from the elements like your usual family car.

Additionally, it must be either preserved or restored to the original condition. You will also need to establish the worth of your classic car with an insurance provider when obtaining coverage. 

Minimum Coverage Requirements 

The minimum coverage required for a classic car within the State of New York is as follows:

  • $25,000 for Liability for Bodily Injury – Per Person
  • $50,000 for Liability for Bodily Injury for Each Accident
  • $10,000 for Liability for Property Damage for Each Accident

The above-listed will help in protecting other vehicles and their passengers if you are the cause of an accident.

If you want to protect your classic car and any potential injuries that you may incur as a result of an accident, you will need to obtain additional coverage with your insurance company. 

What Are Factors Considered by Insurance Companies?

The price of your classic car insurance will vary. The following is factored in by car insurance companies to determine how much you will pay:

  • Make & Model
  • Year
  • Value
  • Mileage
  • Customization
  • Driving Record

Coverage Types 

When you obtain insurance for your classic car, you will have many options – in terms of coverage types. These include:

  • Collision
  • Comprehensive
  • Value Coverage
  • Uninsured Motorist
  • Flex-Based Mileage
  • Roadside
  • Spare Parts

Contact Us Today 

We here at Modica Associates will work closely with you to find the classic car insurance that is best suited for your needs.

We will only ask a few simple questions and match you with the perfect plan for your classic car. If you would like to learn more, contact us now by calling: 718-855-1836

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