According to the India Motor Tariff, any car manufactured prior to 31 December 1940 and certified by the Vintage and Classic Car Club of India can be considered a vintage car for the purpose of insurance. Similarly, any car manufactured after 31 December 1940 but before 31 December 1970 is considered as a classic car. But since they are vehicles of a different era altogether, what could be the right type of car insurance for them?
Considering the fact that it is mandatory to have a third-party liability car insurance, it is important to purchase it irrespective of the type of car you have. However, when it comes to comprehensive car insurance, the premiums of these vehicles are extremely high.
Nonetheless, determining the value of vintage car insurance is definitely a tougher task when compared to new car insurance. The value of the car (IDV) is defined on mutual agreement between owner and insurance company. IT also depends on the availability of spare parts.
It is not common for insurance companies to provide vintage car insurance. As rare as the cars are, the policies available are just as rare. It is easy to buy car insurance online, as it will not take you more than a few minutes.
However, when it comes to purchasing classic car insurance online, it is always better to be sure than sorry.
Consult a specialist to understand the features and specifications of your car before you determine the value of your car on your own.