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The Texas Department of Motor Vehicles gives vehicle owners the opportunity to distinguish antique and classic cars on the road. The Lone Star state has a license plate and registration program that lets drivers over the age of 25 register their cars and trucks older than 25 years under different regulations than those automobile owners with newer cars. With the chance to have your car or truck recognized as either a classic or antique vehicle comes the responsibility of proper insurance. You can find a reliable classic car policy by reaching out to Memorial Insurance Agency in Houston, TX.
There are various classifications for collector’s auto insurance. A classic indemnity plan is usually viewed as a vehicle between 19 to 24 years old. The automobile must be in good working condition and valued at a higher price than the average cost of other cars of similar make and model.
One way to determine if your car falls under the classic field is to take a look at how the Classic Car Club of America views older vehicles that may be deemed valuable. According to the club, vehicles manufactured between 1925 and 1948 may qualify as classic cars if the owner of said automobiles restores them to their original condition as much as possible.
Antique cars are usually deemed as vehicles older than 25 years and, for the most part, in their original condition. Those who obtain insurance under the antique classification may receive a discount because of the limited use that antique vehicles have on the road. Classic cars must be registered and insured like any other modern vehicle.
The average car depreciates the moment that drivers take them off the parking lot. As such, insurance is designed to pay out less money as the years pass. With classic cars, appreciation comes with years, which means that you need a policy that will pay what the automobile is worth and not the average market value of such vehicle.
It is better to be on the safe side in Texas and find an appraiser to determine the value of your car before acquiring classic car insurance. Contacting an agent from Memorial Insurance Agency in Houston, TX is the best way to make sure your car qualifies for classic car insurance. We look forward to hearing from you.