how old a car has to be to be classified as classi

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M1Accord

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i heard a car 15 years old is considered classic and by default is very cheap to insured. let me know if i am off. i happen to want a nice jeep cherokee 4.0 I6 to drive to work (2 miles commute) as it is safer than my cramolla. a lot of people at work drive excurssion, navigator, and big f150 so i don't want to be a under-car just in case those nuts too sleepy on their back from lunch drives.

plus, i want to have something for family vacation or shtf weather.
 
Nice link Pete. I think usually it is cheaper for a couple reasons.....

- It usually has mileage restrictions.
- They think people will be "extra" careful.
- Cars are generally only driven during good weather.

And don't forget, what may qualify as a classic for your state plates may also be different than insurance requirements.
 
Vehicles over 15 model years old are cheap to insure because they can fix them with used parts for body damage if you carry collision and other things. Also, it's basically a lottery. If you wreck a $2500 car they'll write you a cheque for the replacement value less your deductible and call it done, and not even bother sending someone to look at it.

15 years old equals disposable unless it is something special.

Liability costs the same for basically anything with wheels and is based on your driving record more than anything.
 
it is super cheap for just liability coverage so no need to worry about buying parts to repair from your provider. someone told me it is like 50 bucks a month on top of your regular coverage. and yes, they are thinking that you're not driving much extra just from your normal routine and any extra driving will be leisure driving when the road is very clear, good weather, and you are too more aware of your surrounding and most classic car drivers are much safer drivers; unlike our teens.
 
$50/month for just liability isn't that cheap, IMO. I'm paying about $100/month for mine, full coverage, low deductible, and it's not even a classic.
 
Originally Posted By: Quattro Pete
$50/month for just liability isn't that cheap, IMO. I'm paying about $100/month for mine, full coverage, low deductible, and it's not even a classic.

$50/month for just liability is really bad. I paid $35/month for liability on my Explorer, and I am a young male driver with a record. With the Ranger, I pay just $169/6 months (just over $28/month) and I am in the high risk group still.
 
I am paying $284 a month for $1,000,000 PL/PD, comprehensive, and collision with a $1000 deductible.

Driver's training, defensive driving, no tickets, no accidents, licensed since I was 16, I am now almost 21. This is for a 1999 Malibu V6. I am gleeful that June 1 my insurance goes down to $225 a month, and if I move one province over to Saskatchewan, it goes down to $70 a month.
 
I'm paying $250 a year to insure my 71 Cutlass, valued at $11000.
It's cheap because I have to prove that it's not my primary vehicle and that I don't participate in performance events. They know that drivers take special care with their car, and don't drive it around while applying makeup in rush hour traffic, nor practise road rage with it.

Classic plates are reserved for 25-year-old vehicles. In Michigan we have a choice - either antique car plates, or original year plates, which are registered for $35 and good for the life of the car. I can say that Michigan is very friendly to our automotive heritage.
 
My state allows antique plates for 25 years and older and classic plates for somewhat newer cars "of significance", whatever that means.

When operating on antique plates, one does not need a state inspection sticker here. Someone near me uses this exception on a rusty disco era Monte Cutlass Riviera hulk; it's all original but not all that cool.

IIRC some states only allow you to drive on weekends with antique plates, worth checking the law.

I LOLed at a modern looking jeep wrangler with antique plates; obviously the "tub" the VIN plate attaches to was old and the rest built up with newer parts.

We're in for a shock about now as small front wheel drive cars proliferated in 1982-83 and they are now eligible for antique plates. As I'm 31 years old I can remember these things being advertised new on TV.
 
Originally Posted By: Quattro Pete
http://www.howtodothings.com/automotive/a4242-how-to-get-car-insurance-for-a-classic-car.html

But qualifications aside, isn't classic car insurance more expensive than regular car insurance since classics are more valuable and more difficult to replace?


http://www.americancollectors.com/Collector_Vehicles/Vehicle_Qualifications/29/



I heard someone telling to my barber that he drives expensive cars and pays less than $100 a year to insure them because they are at least 20 years old. The caveat is that if he puts more than 3000 miles on them per a year, he will have to pay the regular rate.

Originally Posted By: MGregoir
Vehicles over 15 model years old are cheap to insure because they can fix them with used parts for body damage if you carry collision and other things. Also, it's basically a lottery. If you wreck a $2500 car they'll write you a cheque for the replacement value less your deductible and call it done, and not even bother sending someone to look at it.

15 years old equals disposable unless it is something special.

Liability costs the same for basically anything with wheels and is based on your driving record more than anything.


They are writing a check for the market value, not the replacement value, as when you brought it, you paid much more than $2500 (especially when you include inflation) and it will cost what you paid back then after factoring in inflation to make a purchase equivalent to the one you made.
 
ShiningArcanineThey are writing a check for the market value said:
The original poster wasn't looking for a classic, however, he was looking for a loophole to buy a Jeep Cherokee and get cheap insurance.

In my eyes the replacement value is the market value, whatever it costs to replace it with the same thing (say a 1993 Cherokee with 120,000 miles) is what its market value is.

Classic car insurance takes into account market valuation and is like insuring an antique. It's a much bigger bet than regular auto insurance because an all original 1970 Dodge Charger Daytona that gets T-boned and is reparable loses much more value than just the damage because it is no longer an original car. If repaired it's still a 1970 Charger Daytona, and it is "the same position" as the owner was originally in, but it loses all the value of it being all original. It's insuring an intangible.

Regular auto insurance is based on indemnity and putting you back into the same position he was. If he has a $2500 1993 Jeep Cherokee and totals it, and a thousand dollar deductible, he will pay his deductible and get an equivalent 1993 Jeep Cherokee or a $1500 cheque to put him in the same position he was before the accident.
Click to expand...
 
Originally Posted By: M1Accord
i heard a car 15 years old is considered classic and by default is very cheap to insured. let me know if i am off. i happen to want a nice jeep cherokee 4.0 I6 to drive to work (2 miles commute) as it is safer than my cramolla. a lot of people at work drive excurssion, navigator, and big f150 so i don't want to be a under-car just in case those nuts too sleepy on their back from lunch drives.

plus, i want to have something for family vacation or shtf weather.
This statement just disqualifies you from insurance.
Vehicle must not be driven for daily driving must be kept in a locked garage not sitting in the drive or parking lot of your place of work.
 
Originally Posted By: MGregoir
Originally Posted By: ShiningArcanine
They are writing a check for the market value, not the replacement value, as when you brought it, you paid much more than $2500 (especially when you include inflation) and it will cost what you paid back then after factoring in inflation to make a purchase equivalent to the one you made.


The original poster wasn't looking for a classic, however, he was looking for a loophole to buy a Jeep Cherokee and get cheap insurance.

In my eyes the replacement value is the market value, whatever it costs to replace it with the same thing (say a 1993 Cherokee with 120,000 miles) is what its market value is.

Classic car insurance takes into account market valuation and is like insuring an antique. It's a much bigger bet than regular auto insurance because an all original 1970 Dodge Charger Daytona that gets T-boned and is reparable loses much more value than just the damage because it is no longer an original car. If repaired it's still a 1970 Charger Daytona, and it is "the same position" as the owner was originally in, but it loses all the value of it being all original. It's insuring an intangible.

Regular auto insurance is based on indemnity and putting you back into the same position he was. If he has a $2500 1993 Jeep Cherokee and totals it, and a thousand dollar deductible, he will pay his deductible and get an equivalent 1993 Jeep Cherokee or a $1500 cheque to put him in the same position he was before the accident.


If he brought a Jeep Cherokee in 1993 and paid full price for it, then replacing it would not require a Jeep Cherokee from 1993, but a vehicle from today that is equivalent to what the Jeep Cherokee was in 1993. If he brought a 1993 Jeep Cherokee today, then replacing it would require a Jeep Cherokee from 1993. If you are to replace something, the replacement needs to be the modern equivalent of what you brought when you brought it. Market value and replacement value are two entirely separate things and the fact of the matter is that it is the market value and not the replacement value for which vehicles are insured.
 
Insurance on a classic is not market value it is declared value.
Cars that are driven to work or to the mall do NOT qualify for collector Insurance.
I have mine Insured with GRUNDY and I pay 6 dollars per hundred dollars of stated or agreed value.

These policies are called agreed value because you and the Insurance company must agree on the value.

Example of the difference is you wreck a normal car they repair it or if the repair would cost more than replacing it with one like it they will pay you market value and the car then belongs to the Insurance company.

When you wreck a car that has an agreed value policy if it can not be repaired they will pay not market but the agreed value.
The agreed value may be more or less than what is considered market value at the time but my policy with GRUNDY has a built in appreciation so the agreed value automatically increases every year.
The Jeep that you want to drive to work does NOT qualify for agreed value insurance
 
The thing that keeps me from insuring my car as a classic is I like to drive it to parking lots where ricers hang out to stir up trouble or Sonic to play with the street rods. If something were to happen to it in a parking lot it would not be covered.
 
Originally Posted By: BuickGN
The thing that keeps me from insuring my car as a classic is I like to drive it to parking lots where ricers hang out to stir up trouble or Sonic to play with the street rods. If something were to happen to it in a parking lot it would not be covered.
You are correct you risk not being covered if something happens and they find out what you were doing.
 
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