A car is considered a classic in Massachusetts if it's at least 25 years old. When a vehicle in Massachusetts meets these requirements, the owner can register it as an antique vehicle, which will limit the car’s use. Specifically, classic cars in Massachusetts can only be used for exhibition in shows, parades, tours, and other special events.
Classic Car Qualifications in Massachusetts
At least 25 years old
Used for exhibitions, club activities, parades, and other functions of public interest
Keep in mind that even if your vehicle is registered as a classic car in Massachusetts, it might not qualify for classic car insurance from certain companies. Each classic car insurer has its own eligibility requirements, so your car will need to meet those standards in order to qualify.
Classic car insurance costs less than regular car insurance because a classic spends less time on the road than a vehicle used for commuting or errands. The average classic car insurance policy costs between $400 and $1,000 per year.
Like with any auto insurance policy, each driver’s classic car insurance premium will vary based on individual risk factors such as location, driving history, the driver’s age, and the vehicle’s value. Classic car insurance usually applies to antique vehicles as well as to old, high-performance cars. Requirements and prices vary by company, though.… read full answer
Why Classic Car Insurance Costs Less Than Normal Car Insurance
Almost every classic car insurance provider forbids regular use of the vehicle, which reduces the risk for the insurer and keeps costs low. Classic cars are generally limited to parades, car shows, and pleasure driving up to a mileage limit stated in the policy. As a result, you may need to provide proof that you own a regular car for daily use when purchasing classic car insurance.
Another key difference is that most classic car insurers pay the vehicle’s “agreed value” if it is totaled. This amount is decided when the policy is purchased and reflects the fact that classic cars maintain their worth over time. On the other hand, standard car insurance policies usually pay a vehicle’s actual cash value in the event of a total loss, accounting for depreciation.
How to Lower the Cost of Classic Car Insurance
You can lower the cost of a classic car insurance policy by comparison-shopping for quotes and taking advantage of discounts. Many discounts will be the same as those for regular car insurance, such as discounts for having an anti-theft device or taking a defensive driving course. Some companies also offer discounts for membership in certain car clubs or for switching from a different insurer.
Car insurance in Massachusetts costs $54 per month or $647 per year for minimum coverage, on average. The cheapest car insurance companies in Massachusetts are State Farm, Plymouth Rock, and USAA, and getting quotes from several companies can help you find the best deal.
The average cost of car insurance in Massachusetts is 4% lower than the … read full answernational average auto insurance premium. There are several factors that affect how much you’ll pay for car insurance in Massachusetts, including your driving record, age and location, the amount of coverage you purchase, and the insurance company you buy it from.
Average Cost of Car Insurance in Massachusetts by Category
After an at-fault accident:$160 per month
Teen driver:$234 per month
After a DUI: $108 per month
Average Cost of Car Insurance in Massachusetts by Company
Note: Rates are an approximation based on a driver in Massachusetts with minimum coverage and a clean driving record. Actual rates will vary.
How to Lower the Cost of Car Insurance in Massachusetts
Shop around and compare quotes. We recommend comparing quotes from at least three different insurance companies to make sure you are getting the best rate.
Choose a higher deductible. Your deductible is the amount you have to pay out of pocket before your insurance kicks in. Choosing a higher deductible can lower your premiums but means you will have to pay more out-of-pocket when you file a claim.
Consider lowering your coverage. Consider purchasing only the minimum amount of coverage required by your state, rather than purchasing higher limits or a full coverage policy.
Look for discounts you may be eligible for. For instance, most insurance companies offer a good-driver discount for customers with a clean driving record, a good-student discount, or a discount for paying your premiums in full up front.
Massachusetts car insurance laws require bodily injury liability coverage of $20,000 per person ($40,000 per accident) and $5,000 of liability coverage for property damage. The state also requires $20,000 per person and $40,000 per accident of bodily injury of uninsured motorist coverage, and $8,000 of personal injury protection coverage.
The first two categories - bodily injury liability and property damage liability - cover injuries or damages that you accidentally cause with your car. Your car insurance pays up to the per-person or per-accident limit in each category. If you want additional coverage, you can choose higher limits than the ones required by Massachusetts law.… read full answer
Uninsured motorist coverage is protection for you, in the event that another driver hits your car but doesn’t have insurance. Car insurance is required in Massachusetts, but some drivers break the law and drive uninsured. An uninsured driver is still financially responsible for any damage they caused – but getting that money could be very difficult or time-consuming. uninsured motorist insurance means you can repair your car or go to the hospital without worrying about where you’ll get the money to pay your bills.
Massachusetts has no-fault car insurance laws. Most states that require medical payment coverage are no-fault states. No-fault laws mean that, at least initially, each driver is responsible for their own medical bills – regardless of who caused the accident. That’s when personal injury protection can come in handy for a driver if they’re injured.
Since insurance is required by Massachusetts law, you can face multiple penalties if you’re caught driving without it, including fines, suspension of license and registration, and impounding your car. Another important Massachusetts law to note is the grace period for new residents: When you move to Massachusetts, you have 30 days to register your car. You’ll need to bring proof of Massachusetts car insurance when you go to register, with coverage in each of the categories listed below.
Minimum Coverage Required by Massachusetts Car Insurance Laws
Bodily injury liability: $20,000 per person / $40,000 per accident
Property damage liability: $5,000
Uninsured motorist insurance: $20,000 per person and $40,000 per accident of bodily injury
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