The Progressive Group of Insurance Companies has expanded the definition of a classic car for purposes of auto insurance. The company said that some brand new vehicles and even others with values as low as $5,000 may qualify for specialized, classic car coverage through Progressive's advantage classic car insurance, powered by Hagerty, a classic car insurer.
“We suspect that as many as half of all casual classic car owners are using standard auto policies when they could get better coverage for less money if they bought classic car coverage for their secondary use vehicles,” said Jay VanAntwerp, the product manager for the Progressive advantage program. “Many people don't realize that this specialized insurance exists or that they could qualify for better coverage. If you have a car that you garage a portion of the year and take it out when the weather breaks to take weekend cruises or small road trips, you may qualify.”
Progressive said that if a vehicle fit the following criteria, it could qualify for classic car coverage:
- The vehicle is an extra vehicle in the household. It is not a daily driver and is primarily used for pleasure driving.
- The vehicle is parked inside a locked garage when not in use.
- The vehicle is well maintained and kept in good working condition.
Victoria Spears
Victoria Prussen Spears is senior vice president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. A graduate of Sarah Lawrence College and Brooklyn Law School, Ms. Spears was an attorney at a leading New York City law firm before joining Meyerowitz Communications. She may be contacted at [email protected].