What Is Classed As A Classic Car For Insurance?

  1. 1805 POINTS
    Samuel Smith
    Enrolled Agent-licensed to practice before the IRS, Samuel N Smith, EA, South Carolina
    In most cases a "classic car" is ued solely for "automobile displays" and is used or driven very little. At some point in the history of this car it has stopped depreciating and has increased in value. For example, the 1955 Thunderbird, the 1957 Chevrolet. We could have bought a stable full of these jewels in 1955 and 1957 for about $4000 piece and now they are worth a boat load. These cars obviously require meticulous maintenance and storage standards
    Answered on November 24, 2013
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