Celebrities and Their Cars There are various different types of classic vehicles. Automobiles manufactured around 1904 are thought "veteran cars," whilst the Edwardian era spans from 1905 up to 1918, along with the Vintage period lasts from 1919-1930. For the most part, cars are usually considered to be "classics" whenever they were manufactured at least ahead of 1974, but cars made even somewhat recently can be regarded as "classics" when they are very rare or collectible. The problem with standard policies is, in many instances, claims are reimbursed on an Actual Cash Value (ACV) basis, meaning youre compensated for which you originally paid for the car, possibly subtracting for depreciation. If the Chevy Corvette you bought in 1977 for $7200 was totaled, this is exactly what you would be paid by the insurance company-or less, if depreciation is applied-even whether its market value was $16,000. Note that the correct insurance protection to get a regular car wont necessarily be the right protection for a classic vehicle. Classic vehicles are employed in a class of their very own since theyre classic car insurance qualifications classic american car insurance what is classic car insurance ontario grundy classic car auto insurance rare and old, and possess expensive areas of the body. This gave rise on the need for the unique automobile insurance protection that may work well for classic cars. It may be hard to believe though the insurance for a classic car can be cheaper than a regular driver policy. Sometimes as much as 500% cheaper! A standard car policy can adequately cover the replacing of a specialty vehicle, however with a specifically design product youll have better flexibility and additional benefits. 2. Ferrari 250 GTO (1962)Making the top two of one of the most valuable classic cars is the Ferrari 250 GTO from 1962. The 250 GTO was uniquely created for both racetrack as well as the road. GTO could be the abbreviation for "Gran Turismo Omologato", which could result in English as "Grand Touring Homologated." The last known value of the automobile was US $16.6 000 0000, or GBP A�10.6 000 0000.