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Keeping up to speed on antique and classic auto insurance

For several days each October, the Sweetest Place on Earth becomes the place for eyeing one sweet ride after another.

Hershey annually welcomes the Antique Auto Club of America’s Eastern Fall Meet, which describes itself as the largest antique auto show in the world. Admission is free to the public.

In 2015, “antique auto week,” as locals know it, celebrates its 60th anniversary in Hershey. The meet takes place on the grounds and parking lots of Hersheypark and Giant Center.

Whether it’s an old Packard, a VW bus from the hippie days, or a muscle car from the 1970s, these special cars often need special antique or classic car insurance. Erie Insurance notes that insurers offer many kinds of insurance for these older cars.

For its part, Erie offers coverage for:

  • Classic autos: At least 10 years old “and, because of limited production or exceptionally fine workmanship, have achieved rare or historic interest through being restored, maintained or preserved.” 
  • Antique autos: At least 25 years old and kept in good running condition and/or licensed as an antique with the Department of Motor Vehicles. 
  • Special interest autos: Unlike most cars, these maintain or appreciate in value as they get older. 

In general, here are some features you should look for when shopping for classic car insurance in Pennsylvania:

Agreed value: This means the provider will pay you the full (agreed to) amount in the event of a covered total loss, less any deductible. This type of coverage is much better than “actual cash value” or “stated value” that you may get with some companies.

Low rates: Why pay full-time insurance when you drive your collector car only part-time? Erie, for example, offers discounts on classic or antique cars that are driven sparingly, such as 500 miles or fewer per year.

Coverage options: Not all collector cars are the same, so work with your insurance agent to determine the right amount of coverage to meet your specific needs.

Generous mileage: You’re proud of your collector car, so drive it. Not all insurance companies have a mileage limit, but most collector cars should be driven less than 5,000 annual miles to maintain their value.

Roadside assistance: Whether you're down the street or on a classic rally through the mountains, you’ll want to find coverage that will help you get to the nearest qualified mechanic if something goes wrong.

If you are an antique car owner or thinking of becoming one, you should plan a pit stop to talk with an insurance professional to identify the best combination of coverage, value, and price for you.

In the meantime, happy motoring.


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