Category: Classic Car Insurance

Is Your Vehicle Eligible for Classic Car Insurance? Find Out Here!

If you own an older or an exotic vehicle, you might be wondering if it qualifies for classic car insurance. At Midwest Professional Insurance, we offer classic car insurance in Kansas. Here’s how you can determine if your vehicle qualifies.

Age or Rarity of the Vehicle

Typically, your vehicle should be at least 25 years old to qualify for classic car insurance, although this requirement may vary from policy to policy.

If your vehicle is identified as a collector or exotic car, this age requirement may not be applicable.

Condition of the Vehicle

To qualify for a classic car insurance policy, the vehicle must be restored or in good condition. If your older vehicle is in poor condition, it is unlikely to qualify.

Mileage Requirements

Specific policies have a limit on the number of miles you can drive your vehicle each year to qualify. Conversely, other policies require that the vehicle is not your primary mode of transportation. This implies that you’ll need at least one other vehicle you drive regularly besides your classic vehicle.

Storage Requirements

Many policies also require specific storage arrangements. You may need to store your vehicle in a garage or under a covered porch. A storage facility is another good option, and it offers additional security to help protect your vehicle.

Types of Qualifying Vehicles

Of course, collectors, antique cars, and trucks qualify for this type of insurance policy. However, they are not the only ones. These also qualify if you have antique farm equipment or a vintage motorcycle. Furthermore, exotic or special interest vehicles, classic military vehicles, and kit cars can also be eligible for a classic car insurance policy.

Secure Your Classic Car Insurance with Midwest Professional Insurance

If you need classic car insurance in Kansas, don’t hesitate to contact us at Midwest Professional Insurance. Our agents are ready to discuss your vehicle and needs and assist you in selecting the best policy for your needs.

Classic cars make for great collector’s items and investments. Some models can sell for many millions, costing more than most modern hypercars. If you own such a collectible car, classic car insurance is all but a must. Reach out to Midwest Professional Insurance to learn more about classic car insurance.

Four Most Valuable Classic Cars

The 1962 Ferrari GTO

One of the most iconic cars from one of the most iconic auto brands of all time, buying a 1962 Ferrari GTO could set you back around $50 million. This Ferrari won the 1962 Italian GT Championship. Just 36 models were built, explaining the high price tag.

1956 Aston Martin DBR1

Aston Martin ranks among the most respected brands in the supercar world. Its classic cars often sell for millions of dollars, with one 1956 Aston Martin DBR1 fetching over $22 million at an auction in 2017. This model won the Le Mans in 1959.

1935 Duesenberg SSJ

Many of the most valuable collector’s cars hail from the late 50s and 60s when the global auto sports industry raced into the imagination of populations across the world. The 1935 Duesenberg SSJ hails from an earlier era but has fetched $22 million at auction. You can bet the buyer took out classic car insurance. This American legend packs a dual-supercharged, inline-eight-cylinder engine that cranks out 400 hp, a massive amount of power for the era.

1965 Ford Mustang

Individually, the Mustangs from 1965 typically aren’t as valuable as the cars mentioned above. However, most of the aforementioned cars are incredibly rare, whereas more than 500,000 Ford Mustangs were put together in 1965. This car played a major role in ushering in the era of muscle cars and remains highly sought after, often selling for $50,000 or more. Limited edition variants, like the Shelby models, can sell for more than a million.

Have a collectible car in Kansas you’d like to insure with classic car insurance?

Contact Midwest Professional Insurance serving the residents of Kansas. We are happy to help!

Owning a classic car can be a great option for anyone that is a car lover and is looking for an alternative investment. If you would like to get this type of vehicle, you need to get the right insurance for it as well. There are a few reasons why someone will want to get a classic car insurance plan for their prized asset.  Midwest Professional Insurance in Kansas offers this guide in navigating classic car insurance. 

Getting Classic Car Insurance 

Ensure in Compliance with Liability Requirement

An important reason to have an insurance plan for your classic car is to ensure you are in compliance with your liability requirement. While classic car owners are likely to drive vehicles only sparingly, they are still obligated by law to carry the right insurance when they are on the road. This means carrying a liability insurance plan whenever driving on a public road in any state. 

Protect the Car

You also should get a classic car insurance plan to protect your car. If someone is going to invest in a classic car, they will want their investment to pay off over the long run. A great way to ensure this happens is by getting classic car insurance, which will include provisions to cover the car in the event of theft or accident damage. A classic car insurance plan is ideal compared to standard auto insurance as it can also be used to insure the collectible value of the car.

Contact Us Today

Having a classic car insurance plan is a good idea for any classic car owner. Once you are ready to start looking for your next policy, calling Midwest Professional Insurance is a great option. Our team in Kansas will know the value of this coverage and can provide you with guidance to properly insure your classic car.