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» Insurance » Why does a classic car cost more to insure?
memberPosted by The Philosopher 9 views.

Why does a classic car cost more to insure?


My friends got an 02 Acura RSX 5 speed and he pays like $600/month and the car has some engine mods. We are both 17 except he has a couple tickets.

I called 3 different insurance companies and they all quoted me around $750 a month.
the car in question was a 76 Chevrolet Camaro with an automatic trans and 350ci v8 (though the vin would probably indicate a 267ci v8)

why is the newer car cheaper to insure? with a manual trans? kids these days dont appreciate the old cars like I do and stick with Honda and Acuras and those are the ones I actually see getting wrecked. I wouldn't get full coverage on the old car because if it were to wreck i'd just get another as they aren't worth fixing and are a dime a dozen it's not really a rare classic car.

I understand that engine size might be a factor. The rsx is lighter and has a smaller engine but the Camaro is much heavier with a bigger engine.

Would a z28 cost more? (already upgraded to 350 and upgraded suspension from factory) I didn't ask the insurance on that.

What about the Pontiac Firebird of the same years? (70's to '81) it shares a similar setup.

When I ask the insurance people how they calculate their rates they say its the area and experience of the driver but me and my friend live in the same area, he's had his license longer but has tickets. His car also costs way more. They could not give me any more info on rates they say they're just there to quote and don't know anything else.

So why is this like this?
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1 Comments :

member1 by John R 4 years ago.
There are several reasons why liability insurance would be generally higher on a 70's muscle car than a late model rice burner.

1. It weighs more, so it will cause more damage if it hits something.
2. Due to age, it is more likely to have a mechanical problem that can cause or contribute to an accident - it's not likely the tie rod bushings on an 02 will be shot, no one knows when the front end on a 76 was last checked.
3. The Camaro lacks a lot of the safety features that protect your passengers in advent of an accident. Air Bags work.
4. The Camaro lacks safety features like antilock brakes and traction control that help you avoid an accident in the first place.
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Tags : Classic*(64), Car*(11817), Cost*(2808), Insure*(3623), Insurance*(40306)

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