Classic Car Insurance in Your Area: Does Location Matter?

If you’re looking for classic car insurance in your area, you might discover you’re actually paying a higher rate than friends in other parts of the country. As far as rates go, it can often depend on where you currently reside. Location really does make a difference to auto insurance rates even for classic cars.

Living in the City

As a general rule, people living in cities are going to pay more for auto insurance, including classic car insurance. The biggest reason is that there are simply more vehicles on the road in a city so the probability of an accident rises, even if you rarely drive your classic car.

There are even differences within urban locales when it comes to classic car insurance in your area. Some areas within a city will have higher crime rates than others and this will ultimately affect insurance rates. If you live in a neighborhood with a fairly low crime rate, you’ll pay a lower premium than someone living in a neighborhood with a higher crime rate.

Living in the Country

Although classic car insurance will be lower in rural areas, those living in remote areas can end up paying more due to their geographical isolation. Weather can also affect insurance rates. If you live somewhere that’s prone to extreme weather, you’ll end up paying more for classic car insurance even if you rarely take your vehicle out of the garage.

State Laws

Every state has different insurance laws and where you live can affect the amount of insurance you’re legally required to carry on a car, even for classic models. There’s always a minimum amount of insurance cover payable based on liability for injury and property damage. The alternative is for a motorist to be able to provide evidence of financial responsibility up to the minimum amount of liability. A minimum amount of liability is a requirement in 47 of the 50 states. The only exceptions are Wisconsin, Tennessee and New Hampshire.

Most Expensive States

Although your neighborhood can be a factor in how much you pay for classic car insurance in your area, there are entire states that are more expensive than other when it comes to auto insurance rates. In 2005, the five costliest states were New York, Maryland, Washington DC, Louisiana and Rhode Island. On the other hand, some places were decidedly cheaper. Idaho, Wisconsin, Vermont, Iowa and Maine all had rates below the national average.

What You Can Do

To try and get the best rate for classic car insurance in your area, it’s a good idea to shop around. Read classic car insurance reviews and get several classic car insurance quotes. Keep your vehicle off the road in a locked garage and if you’re in a high crime area, fit an alarm to the garage as a further safeguard. Make sure all those on your classic car policy are over 25 with at least 9 years of driving experience and a good driving record. Don’t use your classic car for commuting. Premiums can reduce significantly if your classic car is only used for driving to shows or small neighborhood trips.