How to Insure Your Classic Car in Alberta: Tips for Affordable Coverage

Owning a classic car is a source of pride, but ensuring it has the right insurance coverage can be challenging. Classic car insurance is different from standard auto insurance, requiring specific considerations to ensure your valuable vehicle is adequately protected. At Insureline Empire, we specialize in helping car owners find affordable, comprehensive insurance that meets their unique needs. Below, we explore everything you need to know about insuring your car in Alberta, along with tips to get the best rates without compromising coverage. 

What Qualifies as a Classic Car? 

Before diving into classic car insurance policies, it’s essential to understand what insurers consider a “classic car.” A classic car typically falls into one of the following categories: 

• Classic Vehicle: Generally, a car that is at least 25 years old and retains its original design and specifications. 

• Antique Vehicle: Vehicles that are at least 50 years old, often preserved or restored for historical significance. 

• Custom or Modified Classic Car: Vehicles that have undergone significant modifications, such as engine swaps, custom paint jobs, or performance enhancements. 

If your vehicle meets these criteria, it may qualify for a specialized classic car insurance policy, which offers tailored coverage compared to standard auto insurance. 

Why Standard Auto Insurance Isn’t Enough for Classic Cars 

Unlike regular vehicles that depreciate over time, classic cars can appreciate in value. Standard auto insurance policies are based on actual cash value (ACV), meaning in case of a total loss, you’d receive only the market value of your car—often significantly lower than its collector value. 

What Does Classic Car Insurance Cover? 

A comprehensive classic car insurance policy typically includes: 

Collision & Comprehensive Coverage: Protects against damage from accidents, vandalism, fire, and theft. 
Liability Protection: Covers damage to other people or property if you’re at fault in an accident. 
Spare Parts Coverage: Many policies cover the cost of rare or hard-to-find classic car parts.  

Roadside Assistance: Specialized towing for classic cars in case of breakdowns. Exhibition & Event Coverage: Protection during car shows and parades. 

How to Find Affordable Classic Car Insurance in Alberta 

1. Choose the Right Insurer 

Not all insurance companies specialize in classic car coverage. Work with a provider like Insureline Empire, which understands the nuances of insuring classic cars and offers tailored policies to protect your investment. 

2. Opt for Agreed Value Coverage 

Instead of relying on market depreciation, ensure that your policy covers an agreed-upon value, so you receive the full insured amount in case of theft or damage. 

3. Store Your Classic Car Securely 

Insurance providers offer better rates if your car is stored in a secure garage or storage facility. Installing security systems such as: 

• Alarm systems 

• GPS tracking devices 

• Garage surveillance cameras 

4. Limit Your Annual Mileage 

Most classic car policies require limited annual mileage (typically under 5,000 km per year). The less you drive, the lower your insurance cost. If your car is primarily used for shows or exhibitions, inform your insurer, as this may qualify you for further savings. 

5. Join a Classic Car Club 

Being a member of a recognized classic car club may qualify you for exclusive insurance discounts. Clubs like the Alberta Iron Indians Pontiac Club or the Specialty Vehicle Association of Alberta (SVAA) often have partnerships with insurance providers. 

6. Maintain a Clean Driving Record 

A clean driving history with no accidents or traffic violations helps reduce insurance premiums. The safer you drive, the more you save on your classic car policy. 

At Insureline Empire, we ensure your vehicle receives the highest level of protection at an affordable rate. For more insights on auto insurance in Alberta, feel free to contact us or call us at 780-761-2200.