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Get Pontiac Auto Insurance for a Classic or New Car

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Things to Remember...

  • In some states, liability is the only requirement for auto insurance
  • Other states also require you to carry something called uninsured/underinsured motorist coverage
  • Personal injury protection or PIP also pays for the medical expenses for anyone in your vehicle

You may not be able to purchase a shiny new Pontiac straight from the dealership anymore, but if you do own one, you need to have the proper insurance to protect it.

Whether it’s a classic muscle car from the 1960s or one of the last made before GM discontinued their production, insurance is needed to protect your car and your financial security.

Finding the right insurance is easy when you enter your zip code in the FREE search box above!

The type of insurance you need will depend greatly on the model and age of your Pontiac. It’s a good idea to evaluate your needs before you start shopping for car insurance.

Required Liability

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No matter what the age of your car, if you own a Pontiac you must have liability insurance on it. This is the law in every state, although a couple will allow you to buy a bond in lieu of it.

Liability insurance will cover your fiscal responsibility to another driver should you cause an accident with him.

It pays to fix his car and for any medical attention he might need as a result of the wreck.

The amount of liability you must carry is different in each state. If you aren’t sure what the minimums are in your state, click on your state on this map provided by the National Association of Insurance Commissioners.

It will take you to the department of insurance for your state, where you can read all the legal requirements for your state.

However, most states have extremely low minimum requirements. If you only carry the required amount, you could find yourself in a difficult situation financially.

If your state only requires $5,000 of property liability, and you total a $25,000 car, you’ll have to come up with the extra $20,000 on your own. This is why many experts suggest carrying at least 100/300/50 insurance.

The first two numbers refer to how much the company will pay for bodily injury per person and per accident. The last number is the amount of property liability.

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Other Required Insurance

In some states, liability is the only requirement for auto insurance. Other states also require you to carry something called uninsured/underinsured motorist coverage.

This will pay for damages to your car if the driver who causes the accident does not have any insurance. If the driver does have insurance, but only has the minimum required, it will pay the remaining amount needed to pay for your car repairs.

USA Today reports that approximately one out of every seven drivers doesn’t have insurance. In addition, millions more just carry the state minimums.

As an option, you can file these claim under your collision coverage. However, claims made through collision will usually result in an increase in premiums, as you are basically admitting fault.

Normally claims through UM/UIM will not raise your rates unless there are an excessive number of claims made.

A few states also require that their residents who own a car also pay for some sort of medical coverage for the people in the car.

There are two different kinds of medical coverage available on auto insurance. Some states mandate one over the other.

Medical payments cover medical expenses. The limits are usually in multiples of $5,000. Personal injury protection or PIP also pays for the medical expenses for anyone in your vehicle.

PIP can also pay for other services, like someone to clean your house or mow the yard if you are unable to do so while you recover.

Optional Coverage

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Even if you live in a state where PIP and uninsured motorist coverage are not required, you can choose to carry them. The consensus among insurance and financial experts is that uninsured/underinsured motorist coverage is a smart thing to have.

Approximately one in every seven drivers in this country is driving without insurance.

Whether you choose to carry med pay or PIP is an individual choice. If you have good health insurance, you might feel comfortable declining it.

If you don’t have health insurance or have extremely high deductibles, PIP is an inexpensive way to make sure you can pay your medical bills if you cause an accident.

You’ll also need to decide whether to carry comprehensive and collision coverage on your Pontiac. Collision pays to repair your Pontiac if an accident is your fault. Comprehensive pays for damages from storms or from anything besides a wreck. It will also replace the car if it is stolen.

Once the Pontiac is old enough, you might be better off not paying for them, as you won’t get the what you’re paying in premiums back in a claim at this point.

Classic Car Insurance

If you have an older Pontiac that you have bought or perhaps restored, you definitely need to have insurance on it. Not only do you need to meet legal requirements for insurance, but also you need to protect your investment.

Traditional car insurance might not be the best way to protect that classic Pontiac. Traditional car insurance assumes that your car will depreciate each year. This is not the case with most classic cars.

What you need is classic car insuranceClassic car insurance is designed to meet the particular needs of these car owners, says the Insurance Information Institute.

Classic car insurance has a few advantages over regular personal auto insurance. First, it’s much cheaper than regular insurance. It can be as low as a couple hundred dollars a year to insure that classic car.

It can also be based on something called agreed value rather than actual cash value. This is most desirable for the classic or collector car because the agreed value will take into account the amount it would take to buy another classic just like your Pontiac. Actual cash value is blue book value and is a much lower amount.

Quirks of Classic Car Insurance

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While classic car insurance for your older Pontiac sounds like a great deal, there are a few things you should keep in mind.

In order to have a classic car policy, the Pontiac cannot be your primary driving vehicle. You’ll have to show that you have another vehicle that is your primary mode of transportation.

Most policies also have a minimum age requirement. They won’t sell a classic car policy to anyone under 21 or sometimes 25.

There are also mileage restrictions. Most classic car policies allow you about 2,500 miles a year on it. If you want to drive it more, you’ll need to add a rider to the policy. It can also not be used for business purposes.

Ways to Save on Your Pontiac Insurance

Even if your Pontiac is too new to be considered for classic car insurance, there is still a multitude of ways to save money on insurance for it.

First, get quotes from several different companies for your insurance. Because each company computes the risk you pose a bit differently, your quotes could vary by hundreds of dollars.

In addition, get quotes for your homeowners or renters insurance at the same time you get auto insurance. Companies give generous discounts to policyholders who have two or more different policies with them.

If you have comp and collision, set the deductible as high as you can afford to.

Raising the deductible to $1,000 can save you big money, as much as 40 percent, according to a report by MSNBC.

You should also ask about any discounts the company offers. Insurance companies offer discounts for a number of things. Here’s just a sample:

  • Having more than one car on the policy
  • Not having an accident or ticket in the last three to five years
  • If you’re a college or high school student under 25 who makes at least Bs, ask about a good student discount
  • Low mileage discount

This is just a sampling of the discounts available. Spend some time with the agent or representative from the company, going over your policy to see if there are any other discounts in which you might be eligible.

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