If you have a car that is considered a classic, this can affect how much you may be able to get someone else to pay for your car and it may also affect how much you may have to pay in insurance. However, what defines a classic car can vary from person to person.

The Age 

One of the most basic characteristics that determine if a car is classic is its age. Classic cars do need to be old. However, a car that is old could simply be considered old and worthless as a result.

Most cars that are considered to be classic cars are those that are from 1948 or earlier. However, some cars that are younger are also sometimes considered classic cars because they are considered to be milestone cars. These would be cars that had a major impact on the market when they were originally released, such as the mustangs of the 1950s.

Others define classic cars as being a car that is older than 20, but not older than 40. If the car is older than 40 years old, it would be considered an antique car.

Whether it Has Modifications

There are some decisions you can make as a car owner that can cause the car to no longer be considered a classic car. For example, if you performed modifications that would make the car significantly different from the original, it may no longer be considered a classic car. One of the challenges of classic cars is that without certain modifications, they are not as safe as modern cars because they do not have many of the modern safety features.

Modern classics are cars that are 15 to 20 years old. They are not usually considered to be official classics. These cars are considered to be collectibles regardless of how old they are.

The Rules of Your Insurance Agency

Once you know that your car is a classic car, you will be able to obtain specialized rates. Make sure you check with the car insurance company (such as Affordable Insurance) to make sure that the car would be considered a classic because due to the lower production standards of some older cars, they might not be considered classic cars.

Another benefit of owning a classic car is that depending on the state in which you live, you might be able to qualify for a special license plate. The state rules can vary. For example, in Michigan, the car must only be used as a collectible to qualify for a special license plate.