Antique trucks, commercial vehicles, fire engines, and other specialty classics are fan favorites at classic car shows, partly due to their rarity. If you’re thinking of investing in a classic commercial vehicle, insurance should be at the top of your list. Coverage for an antique truck is a bit different than your regular auto insurance. Marine Agency can help you out with a policy for antique truck coverage.
Requirements for Drivers
The classic auto industry opens in a new window is holding strong for American collectors in 2020. All of those owners and new buyers have to meet a list of stringent qualifications in order to have a classic truck policy underwritten. Here are the general requirements, which may vary a bit from state to state:
- 25 is the minimum age requirement.
- Clean driving record — No recent DUIs, excessive speeding tickets, and so forth.
- No at-fault accidents within a recent number of years.
- You must agree to protect your classic vehicle from the elements, by storing it in a fully enclosed shop or garage.
- Insurance companies also expect you to own a separate vehicle that you use as your primary automobile. It sounds like fun to drive your classic fire engine to the grocery store twice a week, but that’s against the rules.
There’s one last detail, and it’s an important one: You must own an antique truck that is in good driving condition. If you purchase a wrecked vehicle and have plans to fix it up, it is not yet insurance-worthy. But once your classic commercial vehicle is restored and road-worthy, you’ll definitely want to talk to us here at Marine Agency about a classic truck insurance policy!
Can You Get Full Coverage on a Classic Truck?
Absolutely. The main difference between classic truck insurance and your regular auto insurance, aside from the qualifications listed above, is the value of the policy. For example, a 1941 Dodge Power Wagon sold at auction for $220,000 opens in a new window in 2018. So, it’s not the same as insuring a Honda Civic, even though your classic truck will remain stored in a garage for most of the year.
A classic truck insurance policy will generally be for a 12-month term. The coverages for it will include the “usuals,” such as collision, comprehensive, state liability minimums, uninsured and underinsured motorists, and so forth. The main difference is going to be in the price of your premiums, because of the value of the vehicle.
When you’re seeking a policy for a classic commercial vehicle (or any other classic auto, from a convertible to a motorcycle), the vehicle will need to be evaluated by the insurance company. You and the insurance company will generally agree on a fixed value for the vehicle ahead of time. An important thing to note is that classic cars don’t dip in value the way that your regular vehicle does. Classic trucks can increase in value over time, especially if you take good care of it and keep it in tip-top shape for the summer car shows, parades, and other events.
Contact Marine Agency for a Classic Truck Insurance Quote
- Full insurance policies available for classic trucks & commercial vehicles
- Extra requirements drivers must meet to qualify for a policy
- Classic truck prices are higher than normal vehicles, and policy premiums & amounts will reflect this
We’d love to get a look at your classic truck, fire engine, or commercial vehicle here at Marine Agency and talk to you about an insurance policy. Contact us today at 800-763-4775 to get the process started!