You might not notice it, but the ‘80s or ‘90s car that has been sitting alone in your garage for quite some time might already be a classic. Well, this is how at least your insurance company sees it. Jan VanAntwerp, product manager for the Progressive Advantage Program laments that most people are not aware that they could qualify for better specialized coverage for their vehicles. If your vehicle is say an ‘80s or ‘90s version, a secondary one that sits alone in your garage most of the time, used less frequently, and is well maintained, than it might be on its way to become a classic. Another classic car insurance provider and partner of Progressive, Hagerty, stresses out that insuring a classic is 43% cheaper than the standard auto insurance policy.
Ed Hellwig, executive editor of vehicle pricing site Edmunds.com, says “Insurance companies use the ‘classic’ designation in a well-defined way, but the general public doesn’t recognize one specific definition of the term as it relates to cars. Some people think the vehicle age determines it, while others consider collectability the key factor”.
TheStreet.com compiled the cars that Progressive and Hagerty consider to have reached the “classic” status based on their criteria. Some may even be quite a bit of a surprise. Do you think your car may already be a classic? Scroll down to find out.
1995-2000 Acura Integra Type R
1994-2001 AM General Hummer
1994-1996 Chevrolet Impala S
1993-1996 Mazda RX-7
1984-1985 Cadillac El Dorado/1984-1985 Buick Riviera
1991 Acura NSX
1991 GMC Syclone/1992-1993 GMC Typhoon
1987-93 Ford Mustang GT
1990-97 Mazda Miata
1989-94 Ferrari 348tb