To car insurance companies, owners of classic cars are considered a special breed. Unlike the average policy holder, the classic car owner is invested heavily in their vehicle, and therefore considered to be a lower risk.

Outside of the realm of the car hobby there is a huge range of insured drivers. From freshly minted 18-year olds (and their inexperience) to middle-aged business people (with high mileage) to elderly drivers, there’s a huge range of driving patterns and experience. This equates to risk to the insurance companies.

In contrast, the average classic car insured driver is most likely to be a middle-aged man, stable in lifestyle and finances. Not only that, but unlike that 18-year old’s wreck of a Honda Civic, the classic car owner’s vehicle is most likely well taken care of and it’s welfare highly valued by it’s owner. This equates to these drivers being a lower risk.

Not only that, but also many insurance policies for vintage vehicles are based on a limited number of miles driven annually. Many classic car owners have their vintage car as a second or third vehicle, and only drive them during the summer months. This equates to less time on the road and in turn less chance of an accident.

The end result is that the average policy written for a classic car is hundreds (if not thousands) of dollars less than the average policy for a traditional daily driver. This means the financial burden of ownership of that ’69 Corvette is not strongly impacted by insurance coverage.

Shop and find the policy that meets your needs. Research into classic car insurance can save you thousands of dollars over the course of owning your vehicle.