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Classic Car Insurance in Ontario

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  • Protect your baby with the unique coverage you need
  • Know you're covered for the true value of your vehicle
  • Have peace of mind with guaranteed flatbed towing every time
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Classic Car Insurance Ontario

If you have a classic car, protecting it with the right car insurance is essential. Classic cars are quite different than your standard automobiles, meaning they need specialized insurance coverage. Classic car insurance from Morison Insurance will provide you with peace of mind knowing your classic car is properly protected.

What Is Classic Car Insurance?

Classic auto insurance provides protection for collectible vehicles. Because of the different risks associated with owning these kinds of rare vehicles, classic auto insurance is different from standard auto insurance . A classic car policy is tailored to the value of your car and will protect you financially against the higher physical and economic costs in the event of an accident with a classic car.

Antique Car Insurance - Morison Insurance - Ontario

Who Needs Classic Car Insurance?

If your car is considered a classic due to its rare or high-value qualities, you need classic car insurance. Classic vehicles have different needs than standard, modern automobiles do and without proper insurance protection, you would be leaving yourself with inadequate coverages and an insufficient value on your classic car which can lead to extreme out of pocket expenses. With the protection of classic car insurance coverage, you'll have peace of mind to enjoy your vehicle.

Do I Qualify For Classic Car Insurance?

Some requirements to qualify for classic car insurance include having a minimum of 10 years driving experience, a clean driving record, own a classic car that is 25 years old and that is used for pleasure only with 5,000 kilometres of driving each year (higher mileage can be considered).

Most classic vehicles are insurable, however, there are certain restrictions and some vehicles may not be eligible, such as those used for racing or cars heavily modified with extreme horsepower.

An insurance agent can provide you with more information to determine if you qualify for classic car insurance.

What Is Considered A Classic Car?

A classic car is generally a vehicle manufactured in 1995 or earlier. However, some insurance companies will consider newer vehicles for classic car insurance based on their collectible or classic nature. Cars, trucks, and other vehicles can be considered classics. Your best bet is to contact an insurance broker who will help determine if you need classic car insurance.

Collector Car Insurance - Morison Insurance - Ontario

How Does Classic Car Insurance Work?

Classic auto insurance protects you and your  high-value classic car in the event of a claim. Classic auto insurance provides liability coverage, accident benefits coverage, collision and comprehensive coverage. In Ontario, it is mandatory that all drivers have car insurance on every vehicle that is driven.

What Is The Difference Between Classic Car Insurance And Normal Auto Insurance?

With a classic car insurance policy, you can get same insurance coverage provided in a standard auto insurance policy, plus you will have added key benefits including:

  • A guaranteed insured value for your vehicle.
  • A lower premium for classic car insurance.
  • Service from an insurance broker who can get you coverage from an insurance provider specializing in classic cars. Both the broker and the insurance company understand the importance of insuring your collector, vintage or antique vehicle.
  • Claims service from experts who know classic vehicles, are well educated in the classic and antique vehicle industry, and appreciate how important your vehicle is to you.

How Much Does Classic Car Insurance Cost?

The cost of classic car insurance is typically much less than standard auto insurance – more than 40% less in some cases. You may pay as little as $150 to $900 approximately per year. The cost of classic car premium depends on factors such as the vehicle's value and the number of vehicles you want to insure. Speak with an insurance broker who will provide you with multiple quotes to determine the cost of your classic car insurance.

Vintage Car Insurance - Morison Insurance - Ontario

What Does Classic Car Insurance Cover?

Classic car insurance provides the same coverages as a standard auto insurance policy like liability coverage, accident benefits coverage, collision and comprehensive coverage, however, classic car insurance will also address the needs and value of your classic car. These additional coverage options include agreed-value protection, flatbed roadside assistance protection and flexible usage protection.

Agreed-Value Protection

When you tell the insurance broker the value of your classic vehicle, the insurance company will confirm the value is accurate and fair.  The insurer will then agree to a guaranteed value. The agreed-upon amount will be paid to you in case of a total loss.

Flatbed Roadside Assistance Protection

Flatbed roadside assistance is a coverage option available to provide guaranteed flatbed roadside assistance when needed in the event of a claim. Using the flatbed towing method for your classic car reduces stress and increased risk of damage on your classic vehicle. You have peace of mind knowing your classic car will be taken care of in the best way possible when an unpredictable situation occurs.

Flexible Usage Protection

Classic and collector cars should be driven to be fully enjoyed! An insurance broker can tailor your classic car insurance policy to meet your specific driving uses and needs.

Classic Car Insurance - Morison Insurance - Ontario

The Insurance Bureau of Canada has more details on classic car coverage.

What Does Classic Car Insurance Not Cover?

There are some limitations on classic car insurance, such as vehicles used for commercial purposes, racing or off-road uses, or highly customized cars. Speak with an insurance broker who will help determine if your collector car will qualify for classic car insurance.

Can You Get Full Coverage On A Classic Car?

Yes. You can get full insurance coverage for eligible classic or antique vehicles. An insurance broker who provides classic car insurance can get you several competitive quotes from auto insurance carriers to get you insured.

Our auto insurance resource centre has more details on everything you need to know about car insurance coverage.

Where Can I Buy Classic Car Insurance?

You can buy classic car insurance from Morison Insurance. Our insurance experts can help provide you with coverage to ensure your special vehicle is properly protected. We shop dozens of classic car insurance providers to ensure you receive the best coverage for you and your collector vehicle. Get started today by calling 1-800-463-8074 or by filling out the form on our website. You will be glad you did!

 

This content is written by our Morison Insurance team. It is provided for general information only. Insurance needs differ from person to person, and this article is therefore not a substitute for professional advice about your individual insurance needs which can be obtained by speaking to one of our brokers.

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