Specialty Vehicle Insurance

Antique, Luxury, Classic, and Customized Automobile Insurance

If you are in search of insurance for a restored, collectible, or luxury vehicle, you have probably already learned that not all auto policies are created equal. While standard automobile policies usually pay for vehicle damage under the comprehensive or collision part of the insurance policy, claim settlement is usually for actual cash value (ACV)—the cost new less depreciation. Obviously, this isn't the approach you want to take when insuring a classic car.

Specialty cars require additional coverage due to the fact that they are more expensive, have higher repair costs, and are more likely to be stolen or broken into. Mountcastle Insurance is pleased to provide special customized insurance coverage that reimburses the stated value of your specialty automobile or truck.

Here are some additional considerations that you may want to discuss with your Mountcastle agent when evaluating policy options for your specialty vehicle:

  • How many actual miles do you drive your collectible car? (Most collector cars should not be driven more than 5,000 miles per year to maintain value.)
  • Have you considered spare parts coverage?
  • Is there a special repair shop you prefer for any insured damage to your auto?
  • While your car is being restored, will you require coverage?

Specialty Vehicle Insurance FAQs

Certainly not. The specialty vehicle category refers to a wide variety of vehicles from golf carts and snowmobiles to dirt bikes, motorcycles, horse trailers, campers, motorhomes, and all-terrain vehicles (ATVs). These vehicles all need to be insured, even if they are not driven on public roadways, to protect from a liability standpoint and also because they are often high-dollar items.

A classic auto is a motor vehicle ten or more years old, and that is considered to have some historical interest. A classic auto that is 25 years old or more is considered an antique. Furthermore, to qualify for either category, your car must have been restored, maintained, or preserved in excellent condition, or it must be undergoing active restoration. In addition, it must not be used other than on a limited basis, such as for parades, exhibitions, and similar events. Some insurance companies require that it must be stored within an enclosed building.

Yes, specialty vehicle insurance does include the typical coverage you would get from a standard auto policy.