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Classic Auto Insurance

Classic Auto Insurance

Source: Insurance Bureau of Canada – www.ibc.ca

Classic auto insurance is called different things by different people. Some call it antique auto insurance, others call it vintage car insurance or collector car insurance, and some just call it old car insurance. But the purpose is essentially the same ─ to protect your older car or classic vehicle, as well as yourself and others, from the hazards of the road and the inevitable risks that come with owning an automobile.

The key insurance consideration is this: limited usage. You can’t use the car for daily driving, and the appraised value of the auto generally must be less than $150 000. As far as age, according to Kanetix, the comparison shopping site for insurance, antique cars and classic autos are aged 25 years and older. Special interest vehicles, such as hobby and collector cars (some modified and custom automobiles) are generally defined as 15 to 24 years old.

Insurance for such vehicles usually takes into account your age, driving history and location, whether your car is modified in some way or a standard build, the age of the car, and the number of kilometers you drive during the year. Such coverage usually anticipates seasonal use only, which eliminates the need to remove coverage during the winter and add coverage back on for the rest of the year.


Insurance Requirements

  • Low usage, minimal driving to work (if any)
  • Access to a regular use vehicle
  • Must have a current appraisal (not always required) and photos
  • Vehicle must be at least 15 years old and considered a collector’s item
  • Must carry Liability and Accident Benefits coverage.
  • Must have an OPCF 19 or an OPCF 19A.
  • Maximum annual mileage is 5000 km