Classic Car Insurance in 2024 (Coverage Explanation)
Classic car insurance provides specialized protection for vintage vehicles, with starting rates at $29 monthly. This coverage shields against theft and damage, catering specifically to classic car enthusiasts. Learn more below about securing comprehensive and affordable insurance for your treasured automobile.
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Zach Fagiano
Licensed Insurance Broker
Zach Fagiano has been in the insurance industry for over 10 years, specializing in property and casualty and risk management consulting. He started out specializing in small businesses and moved up to large commercial real estate risks. During that time, he acquired property & casualty, life & health, and surplus lines brokers licenses. He’s now the Senior Vice President overseeing globa...
Licensed Insurance Broker
UPDATED: Oct 1, 2024
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Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Oct 1, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
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Classic car insurance offers a tailored solution for your vintage vehicle, factoring in multiple criteria to ensure comprehensive coverage.
Premiums start at $29 per month, reflecting a blend of vehicle age, rarity, and usage. This specialized auto insurance protects against theft and damage, catering specifically to the needs of classic car enthusiasts.
Discover how auto insurance for classic cars offers affordable rates and comprehensive protection for your prized vehicle.
When you’re ready to see how much you can save on your car insurance, enter your ZIP code above into our free comparison tool.
- Monthly rates start at $29 for specialized classic car insurance
- Tailored protection for theft, damage, and unique collector needs
- Designed specifically for vintage vehicles considering multiple factors
Choosing the Best Classic Car Coverage
Insuring a classic car requires finding the right balance between cost and coverage. This article outlines monthly rates for minimum and full coverage auto insurance from top insurance providers like Allstate, Geico, and State Farm. With varying rates based on provider and coverage level, classic car owners can choose options that fit their needs and budget.
Classic Car Auto Insurance Monthly Rates by Provider & Coverage Level
| Insurance Company | Minimum Coverage | Full Coverage |
|---|---|---|
 | $40 | $105 |
 | $35 | $95 |
 | $42 | $110 |
 | $30 | $90 |
 | $38 | $100 |
 | $37 | $97 |
 | $33 | $92 |
 | $32 | $93 |
 | $36 | $98 |
 | $29 | $88 |
Selecting classic car insurance is about finding the right balance between cost and protection. With rates differing across companies like USAA and Liberty Mutual, comparing options is key to ensuring you get the coverage you need at a price you can afford.
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The Impact of Driving Records on Classic Car Insurance
Your driving record significantly affects classic car insurance premiums. This article highlights full coverage rates from top providers like Allstate, Geico, and USAA, showing how premiums change with a clean record, a ticket, an accident, or a DUI. Knowing these factors helps classic car owners choose the right insurance that balances cost and coverage.
Classic Car Full Coverage Auto Insurance Monthly Rates by Driving Record
| Insurance Company | Clean Record | One Accident | One DUI | One Ticket |
|---|---|---|---|---|
| $105 | $130 | $160 | $125 |
| $95 | $120 | $150 | $115 |
| $110 | $135 | $170 | $130 |
| $90 | $115 | $145 | $110 |
| $100 | $125 | $155 | $120 |
| $97 | $122 | $152 | $118 |
| $92 | $117 | $148 | $113 |
| $93 | $118 | $149 | $114 |
| $98 | $123 | $153 | $119 |
| $88 | $113 | $143 | $108 |
Your driving record can greatly influence the cost of classic car insurance, with rates increasing after accidents, tickets, or DUIs. By comparing rates from companies like Liberty Mutual and Progressive, classic car owners can find the best coverage that suits their needs and budget, ensuring they remain protected regardless of their driving history.
Defining Classic Cars: Variations in Insurance Standards
Defining a classic car can be challenging, as different companies often have varying criteria. However, the general concept of a classic car remains fairly consistent among owners and enthusiasts, which influences how auto insurance for old cars is structured.
The Classic Car Club of America (CCCA) defines a classic car as one manufactured between 1915 and 1948. However, this definition can be limiting for certain individuals and circumstances, particularly when looking at auto insurance for older vehicles.
Some people consider a classic car to be the same as a vintage, antique, or collector vehicle. However, others define a classic car as any vehicle over 20 years old, regardless of make, model, or condition, which can influence how auto insurance for vintage cars is structured.
Most insurance companies do not follow the CCCA’s definition of a classic car. Instead, the criteria for what qualifies as a classic car vary between providers. For instance, classic car insurance examples from State Farm and USAA may have different definitions for what constitutes a classic vehicle.
State Farm’s Criteria for Classic and Antique Car Insurance
State Farm requirements for classic car insurance say a classic car is any vehicle 10 or more years old and is a rarity regarding historic interest. According to State Farm auto insurance, classic automobile hobbyists must have restored, maintained, or preserved this vehicle.
State Farm outlines specific criteria for defining an antique vehicle, stating that it must be at least 25 years old and either restored, maintained, or preserved by enthusiasts. This approach aligns with the guidelines used by many companies offering classic automobile car insurance.
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The Hartford’s Definition of Classic and Antique Vehicles
As a point of comparison, The Hartford auto insurance offers a different definition for a classic car. The Hartford’s classic car insurance definition states that a classic car must be at least 10 years old and can be driven regularly. Additionally, the vehicle must have a significantly higher value compared to similar makes and models.
According to The Hartford, antique vehicles must be over 25 years old and are typically used for events such as shows, club activities, and parades. These vehicles are seldom driven for other purposes, a standard practice among many antique auto insurance companies.
Clarifying the Distinctions: Classic Cars vs. Show Cars in Insurance
Many companies treat show car insurance similarly to collector car insurance. However, other companies may offer different types of auto insurance, creating distinct categories for various vehicle types. For instance, Hagerty and other insurers may introduce specific terms like “modern classics” and “future classics” to describe classic cars from different eras.
As you shop for classic car insurance coverage, research any company you’re considering to learn its requirements for a classic car. As you do, you’ll have a better understanding of which companies may offer the best classic car coverage to meet your needs.
Exploring Vehicle Eligibility for Classic Car Insurance Coverage
You may wonder, “Does my car qualify for classic auto insurance?” Classic car insurance encompasses a wide array of vehicle types, each with its own unique charm and historical value. From antique beauties to muscular race cars, let’s explore the diverse range of vehicles that might be eligible for specialized insurance coverage.
- Antique cars and classic cars
- Exotic cars, muscle cars, and race cars
- Custom cars, kit cars, and replicas
- Military vehicles and retired commercial vehicles (e.g., fire trucks)
- Vehicles undergoing restoration or modified vehicles (hot rods, tuners)
When exploring car insurance for vintage cars, it’s essential to consult with your insurance provider to fully understand the specific coverage options available for your vehicle.
In most cases, classic cars require a separate insurance policy specifically designed for their unique needs. Classic car insurance policies often offer specialized coverage and considerations that may not be available under a standard auto insurance policy.Zach Fagiano Licensed Insurance Broker
Whether you own a vintage scooter or a retired fire truck, the right insurance is key to protecting your automotive treasure. Ensure you fully discuss your vehicle’s eligibility and coverage details to secure the protection it deserves.
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Identifying Exclusions in Classic Car Insurance Categories
A vehicle’s age is a significant factor in determining whether it’s considered a classic. If you drive a fairly new car, it’s likely not classified as a classic vehicle. Similarly, if you drive a common car, such as a Honda Accord, your vehicle wouldn’t typically qualify as a classic. However, you would still need Honda Accord auto insurance for a new vehicle auto insurance discount to ensure your car is properly covered.
Another indication your vehicle isn’t a classic car is if it’s used regularly for daily activities. Most classic car insurance policies require limited use of the vehicle. So, if you drive your car most days or use it to run most of your errands, your vehicle may not qualify for a classic car insurance policy.
The most common reasons a car isn’t a classic include:
- You use your vehicle daily.
- Your vehicle is an off-road or recreational vehicle.
- You used your vehicle for commercial business.
Allstate antique car insurance, like similar policies from other providers, may require you to own a separate vehicle for daily use in order to qualify for coverage. When shopping around and comparing options, be sure to inquire if your vehicle meets the criteria for a classic and is eligible for coverage.
Top Insurers Offering Classic Car Insurance Options
When seeking the right insurance to protect your classic car, it’s vital to choose from top insurers that offer specialized policies tailored specifically for vintage vehicles.
Some of the leading companies providing classic car insurance include Geico, State Farm, Hagerty, Allstate, American Family, American Modern, Chubb, Erie, Farmers, Grundy, The Hartford, Liberty Mutual, Progressive, and USAA.
Each insurer offers unique benefits, so understanding your vehicle’s specific needs is crucial. Consider bundling policies for potential savings and make sure to compare quotes to find the most competitive rates for the ideal coverage.
Read more:
Grundy Insurance: Comprehensive Classic Car Insurance for Collectors
Grundy Insurance, established in 1947 just outside of Philadelphia, is a premier provider for serious collectors seeking to insure their classic cars. Their Motor Vehicle Program is highly regarded among classic car insurance companies. Although they have not offered “collector car only” policies since 2011, they remain an excellent choice for collectors looking to insure all of their vehicles, including classic cars, under one comprehensive policy.
For those wondering, does a second car affect auto insurance rates, Grundy allows clients to bundle multiple vehicles, which can potentially impact rates. In addition, Grundy provides a Special Collections Policy through their Special Client Services department, enabling clients to secure car collection insurance along with coverage for other valuable collectibles, such as art and coins.
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Hagerty Offers Tailored Classic Car Insurance for Collectors
Hagerty specializes exclusively in classic car insurance, offering policies tailored to meet the specific needs of classic car owners. Their rates are often lower than other insurers that also cover daily-use vehicles. According to many Hagerty auto insurance reviews, policyholders appreciate that they can receive the full value of their classic car in the event of an accident.
However, potential customers should note that their classic cars cannot be used for daily driving, and all other household members must have coverage for daily-use vehicles. Additionally, the insured vehicle must be stored in a secure location.
Classic Auto Insurance: Tailored Protection for Your Vintage Vehicle
Classic Auto Insurance provides coverage to vehicle owners in 47 states, with exclusions for Massachusetts, Hawaii, and Alaska, and requires vehicles in North Carolina to be over 25 years old. The policy covers pleasure driving, participation in car shows, parades, and other events, along with roadside assistance during these occasions.
As noted in an American Modern auto insurance review, the policies are underwritten by American Modern Insurance Group (AMG), which requires all insured vehicles to be stored in a fully enclosed garage when not in use. The company also highlights that maintaining a good driving record and practicing conservative driving habits can help reduce premiums. Additionally, they offer an online quote tool for convenience.
J.C. Taylor Offers Flexible Classic Car Insurance for Collectors
J.C. Taylor is a prominent provider of specialty vehicle insurance policies tailored specifically for car collectors, boasting thousands of satisfied customers. While there isn’t a strict mileage limit for their classic car insurance policies, vehicles are primarily intended for recreational use rather than daily driving.
Insured individuals must be at least 25 years old and have no more than one at-fault accident or moving violation on their record. Although a vehicle photo is required, appraisals are typically not necessary. J.C. Taylor allows flexibility by excluding “attendance clauses,” meaning owners can use their vehicles without constant oversight.
However, it’s important to note that a 2,500-mile limit exists for underwriting purposes, which ties into how annual mileage affects your auto insurance rates, though the company is generally flexible as long as usage remains reasonable.
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Unlocking the Key Benefits of Classic Car Insurance Coverage
Classic car insurance policies offer various coverage options. Some policies are more robust, while others are simpler. Many companies also allow policyholders to purchase add-ons for additional protection.
Some of the most common car insurance coverage options in a classic car policy include
- Liability Insurance: Liability coverage pays for damage or injuries you cause to other people or vehicles.
- Collision Insurance: Collision coverage pays for your vehicle repairs if the damage results from an accident. Collision insurance would cover you even if you were at fault in an accident.
- Comprehensive Insurance: Comprehensive insurance pays for repairs to your vehicle caused by something other than an accident, like inclement weather or wild animals.
- Uninsured Motorist Coverage: With uninsured/underinsured motorist coverage, your insurance company covers vehicle repairs and medical costs for you if you get hit by someone without proper auto insurance.
While some classic car insurance policies may include all coverages listed above, many may only have comprehensive coverage. However, most classic car insurance policies should meet your needs regarding your vintage or classic vehicle.
Read more: Garageless Classic Car Insurance
When it comes to protecting your prized classic car, standard coverage may not be enough. Fortunately, many insurers offer valuable add-ons tailored to the unique needs of classic car owners. These additional options can provide peace of mind, whether you’re restoring, repairing, or preserving your cherished vehicle. Some of the common add-ons for classic car insurance include:
- Cherished Salvage Coverage: If a covered event totals your classic vehicle, you can keep your salvage title and get a payout from your insurance company.
- Spare Parts Coverage: This coverage pays for spare parts and specific tools to repair your classic vehicle.
- Vehicle Under Construction Coverage: This coverage helps if you’re ever repairing your vehicle. During repairs, your coverage increases to match the restoration work.
- Disabled Vehicle Coverage: This coverage often resembles a roadside assistance plan, providing towing or fuel delivery. Disabled vehicle coverage may also include other coverages like trip interruption, lodging, and meals.
- Automobilia Coverage: Automobilia coverage pays for things like hood ornaments, vintage license plates, and other collectible items.
You’ll find that many different companies offer a version of classic car insurance. Study each option to learn whether it’ll work for you. If you’re seriously considering a specific company for classic car insurance, speak with a representative from that company. Ask specific questions and see how much you’ll pay for coverage with your classic car.
Classic car owners in Arizona, Connecticut, Illinois, and Indiana can benefit from State Farm’s collaboration with Hagerty to offer State Farm Classic+ in 2023. For this program, the vehicle must be in ‘good’ or better condition unless under active restoration.Benjamin Carr Former State Farm Insurance Agent
Make sure to periodically review and update your car classic insurance policy, as the value of your vehicle may fluctuate over time. This helps ensure that your coverage stays comprehensive and meets the changing needs of your cherished vehicle.
Compare Classic Car Insurance Options
Navigate classic car insurance options with ease. Our quick guide compares key features like annual mileage, vehicle age requirements, and additional benefits across leading insurers like American Collectors, Grundy, and Hagerty.
Classic Car Insurance Coverage by Company
| Insurance Company | Annual Mileage | Vehicle Age | Spare Parts | Inflation Guard |
|---|---|---|---|---|
| American Collectors | Unlimited | None | $500 | 6% |
| Grundy | Unlimited | 25 years or older | $600 | 4% |
| Hagerty | Unlimited | 10 years or older | $750 | 4% |
| J.C.Taylor | Unlimited | 19 years or older | $250 | 4% |
| State Farm | 2,500 | 10 years or older | $500 | 4% |
Make an informed choice for your classic car’s insurance by considering the tailored offerings of top providers. Protect your vintage vehicle with a policy perfectly matched to its unique needs and value. Ensure your vehicle meets the criteria under, Does your car qualify for classic auto insurance to secure the right coverage?
Get Roadside Assistance for Your Classic Car
With auto classic insurance, you can obtain roadside assistance for your classic car. Whether it’s for a disabled vehicle or other emergency services, this type of coverage can be invaluable if you ever encounter an unexpected situation on the road.
Roadside assistance can help with tows, fuel services, oil delivery, flat tire repair, lockout services, and more. In addition, plenty of insurance companies offer roadside assistance coverage to policyholders, like AAA and Hagerty.
Read more: Best States for Classic Car Owners
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Discover Classic Cars That Skyrocket in Value
All vehicles depreciate at different rates, and the reverse is true for classic vehicles. Some classic cars don’t become much more valuable over time, while others gain significant value fairly quickly.
Some vehicles that are likely to become much more valuable include:
- 1965-70 Cadillac DeVille ($28,800 excellent condition starting price)
- 1969-74 Ferrari 246 Dino ($365,800)
- 1983-97 Land Rover Defender ($61,400)
- 1979-85 Mazda RX-7 ($17,600)
- 1963-67 Mercedes-Benz 230SL ($80,500)
- 1966-67 Pontiac GTO ($100,200)
- 1992-95 Porsche 968 ($38,000)
- 1985-95 Suzuki Samurai ($10,200)
- 2008-12 Tesla Roadster Sport ($97,100)
- 1975-93 Volvo 245 ($15,800)
If you own one of the vehicles mentioned above, it’s essential to purchase classic car insurance to ensure protection in almost any situation. When exploring what are the benefits of auto insurance, particularly for classic cars, reviews often emphasize the importance of reading the fine print of any policy before making a final decision to fully understand your coverage.
The Key to Affordable Classic Car Insurance
Insurance providers that cover older cars are quite common, and depending on your location, you may find several options that suit your needs. However, it’s crucial to compare auto insurance quotes for classic cars from various companies to ensure you’re not overpaying on your monthly or annual premiums.
If you plan to purchase a classic car in the future, it’s important to consult with an insurance specialist to explore your coverage options. Additionally, it’s crucial to understand how to compare auto insurance quotes from various companies. Make sure to review quotes from multiple insurers at least once a year to guarantee you’re getting the most competitive rates.
Get the minimum car insurance coverage you need to drive legally by entering your ZIP code into our free quote comparison tool below.
Frequently Asked Questions
What is classic car insurance?
Classic car insurance is a specialized type of auto coverage designed to protect vintage, antique, and collector vehicles. It typically offers agreed value coverage, which ensures your vehicle is insured for its full appraised value, rather than depreciating over time like standard car insurance. This insurance also includes benefits tailored to classic cars, such as limited mileage usage, spare parts coverage, and protection during restoration.
Are there any discounts available for classic car insurance?
Many classic car insurance providers offer a variety of discounts that can help lower the classic car insurance cost. Common discounts include multi-car discounts, safety equipment discounts, loyalty rewards, and membership discounts with recognized car clubs or organizations.
What’s the best classic car insurance option?
The best option depends on your unique situation and needs. Some of the most popular options for classic car coverage include Hagerty, Grundy, American Collectors, American Modern, Heacock, and State Farm collector car insurance.
For more information, check out our complete guide, “Best Auto Insurance Companies,” to find the coverage that suits your needs.
Is a 25-year-old car a classic vehicle?
Some companies consider a 25-year-old car a classic, while others consider it antique or vintage. You’ll need to learn what each company considers a classic to purchase the best policy for your classic vehicle.
Why is it important to have specialized insurance for a classic car?
Specialized insurance for a classic car is important for several reasons. Classic cars often have unique value, rarity, and sentimental significance, making them different from regular vehicles. Standard auto insurance may not provide adequate coverage for these special considerations.
Specialized insurance policies for classic cars offer coverage that reflects their value, agreed-upon appraisals, and specific needs, such as coverage for restoration costs or spare parts.
Are classic cars expensive to insure?
Rates for classic or vintage cars are usually lower than the standard auto insurance policy. The reason classic car insurance rates are lower is that classic vehicles aren’t on the road as much and aren’t as high of a risk for accident-related claims.
To learn more, dive into our detailed guide titled “Why is auto insurance for new cars so expensive?” for valuable insights.
Can I insure a classic car under my regular auto insurance policy?
Insuring a classic car under a regular auto insurance policy is usually not recommended. Regular auto insurance policies are designed for standard vehicles and may not provide the necessary coverage for the unique needs and value of a classic car. Classic car insurance policies offer specialized coverage tailored to the specific requirements of classic car owners.
Enter your ZIP code below into our free comparison tool to see how much car insurance costs in your area.
Can I get insurance for a project car or a car under restoration?
Some classic car insurance companies offer coverage for project cars or cars under restoration. However, the coverage options and requirements may vary. It’s best to consult with the insurance company to understand their policies regarding project cars and cars in the restoration process.
Why is Hagerty insurance so cheap?
Hagerty is an affordable provider of classic car insurance because most collector’s cars are rarely out on the road, and the company offers customized coverage.
For a comprehensive understanding, refer to our in-depth analysis titled “Hagerty Auto Insurance Review” for more insights.
How is classic car insurance different from regular auto insurance?
Classic car insurance offers unique protections, including agreed value coverage, usage restrictions, appreciation coverage, and spare parts protection, all tailored to meet the needs of classic car owners.
- Agreed Value Coverage: Classic car insurance often provides coverage based on an agreed value between the policyholder and the insurance company, rather than the actual cash value (ACV) of the vehicle. This ensures that the policyholder is adequately compensated in case of a total loss.
- Usage Restrictions: Classic car insurance may come with usage restrictions, such as mileage limitations or requirements for storage in a secure garage.
- Appreciation Coverage: Some classic car policies offer appreciation coverage, which takes into account the potential increase in value over time.
- Spare Parts Coverage: Specialized policies may include coverage for spare parts or modifications made to the classic car.
With these specialized features, classic car insurance ensures your vehicle is adequately covered and preserved, giving you peace of mind and the protection your investment deserves.
How is the value of a classic car determined for insurance purposes?
Agreed value coverage for classic cars ensures you receive a pre-determined value in case of total loss, supported by appraisals and detailed documentation.
- Agreed Value: The policyholder and the insurance company agree upon a specific value for the classic car, which serves as the basis for coverage in case of a total loss.
- Appraisals: Professional appraisals by qualified experts or appraiser-approved guides can help determine the market value of the classic car.
- Documentation: Providing the insurance company with documentation, such as receipts for restorations, upgrades, or previous sales records, can support the valuation process.
By using professional appraisals and providing proper documentation, you can secure accurate and fair coverage for your classic car with agreed value insurance.
For more detailed information, refer to our in-depth guide, “Best Auto Insurance Companies That Offer Agreed Value,” and secure the right coverage for your vehicle.
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Zach Fagiano
Licensed Insurance Broker
Zach Fagiano has been in the insurance industry for over 10 years, specializing in property and casualty and risk management consulting. He started out specializing in small businesses and moved up to large commercial real estate risks. During that time, he acquired property & casualty, life & health, and surplus lines brokers licenses. He’s now the Senior Vice President overseeing globa...
Licensed Insurance Broker
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.