Classic car insurance protects your vintage ride at its true, appraised value while giving free perks like car repairs with original parts. This policy is built for classic cars used for weekend joyrides or car shows — not for everyday driving. If this describes you and your car, check out our list of top insurers and compare their coverage, perks and classic car requirements to qualify for a policy.
What are the best classic car insurance companies?
The best classic car insurance companies let you enjoy your ride with high mileage limits, top-notch customer service and perks built in to your policy, such as car repairs with original manufacturer parts. We chose top insurers that blend these features, including companies that insure both classics and daily drivers for your convenience.
Use Progressive's handy online comparison and quote tools to find the right policy, or compare Progressive's price with competitors to find the best deal. Progressive also lets you bundle nearly any kind of auto coverage, including classic cars, bikes and boats.
Enjoy a wide range of discounts, including a usage-based discount if your car spends enough time being pampered instead of driven. Liberty Mutual also offers some of the best new and better car replacement programs for a new classic like a Mustang or Alfa Romeo.
Get personalized, one-on-one support with an auto specialist to repair your classic car to the manufacturer's specs. Plus, its perks include unlimited mileage for hobby driving, agreed value limits and 30 days of free coverage for new cars in your collection.
No mileage limit for hobby use
Repairs using original equipment manufacturer parts
Newly acquired car coverage
Car expert and dealer referrals
Up to $10 million in worldwide auto liability
High rates for low-value vehicles
No online quotes
States served
All 50 states
Roadside assistance
Optional
Pay schedule
12 months, 6 months
Claims methods
online
New car protection
No
Accident forgiveness
No
How we chose the best classic car insurers
To bring you the best classic car insurance choices, Finder’s experts analyze insurance companies for their customer and claims satisfaction scores, coverage, discounts and perks designed for classic cars. Our editorial team spends thousands of hours researching and analyzing hundreds of car insurance companies.
Classic car insurance covers your car’s agreed value
Classic car insurance insures your much-loved vehicle for its agreed value, which is the amount that you and your insurer agree that your car is worth. Your insurer will pay up to the agreed value if your car gets totaled in an accident.
Agreed value considers your car’s historic or collector’s value, a value that stays the same or rises over time. For example:
A 1970 Chevrolet Chevelle SS is worth about $52,000 on average, according to the NADAguides. However, its original sale price was just over $3,000.
This difference shows how classic cars can be worth more than the sum of their parts, even if you adjust the original price for inflation.
Classic car policies vs. standard car insurance
By contrast, a standard car insurance policy uses your car’s market value, the amount that your car is worth today after factoring in depreciation. A car’s market value tends to decrease over time. For instance:
A 2020 Toyota Corolla will depreciate by nearly $7,200 in five years, according to Edmunds data. If the Corolla is worth $22,700 at the time of sale, it will depreciate to $15,500 in five years.
After five years of owning your Corolla, the depreciated value of $15,500 is the amount that a standard car insurance policy will pay if the car is totaled.
Documents needed to get your car appraised
To agree on the value for your classic ride, you may need it appraised through an appraiser or car valuation service. You may need photos of your car or a ratified value document from an owners club.
The insurance company or appraiser also may want receipts for modifications or accessories and a report of past car damage.
Classic car policies include extra coverage
Most classic car policies give you extra coverage and perks as a standard part of the policy, although insurers differ in the exact perks they offer.
Your policy might include coverage for:
Choice of mechanic. You have the freedom to take your car to your trusted classic car mechanic.
Comprehensive coverage. Since classic cars could be targets for thieves, comprehensive coverage protects your ride from theft, vandalism and other damage.
Lay-up periods. Many vintage cars spend time being laid up, maintained or cleaned, and classic car insurers factor this in to premiums.
Low mileage.Classic cars qualify for low-mileage discounts because they’re usually driven for pleasure, not everyday use.
Car shows, events or tours. Your policy may cover transporting your car to or driving in a classic car show. Let your insurer know about the event before you go.
Medical reimbursement. If someone gets injured in or around your car at a show, classic car policies may cover their medical bills.
Modifications. If your classic car suffers a covered total loss, you can keep the unrepaired car and your insurance payout, rather than sending it to the salvage yard.
Spare parts. Cover damage or theft to spare parts like tires or other gear.
5 main qualifications for classic car insurance
To buy classic car insurance, you and your car will need to meet several criteria, including your car qualifying as a classic based on its age, body style or performance features. Look at what insurance companies require for your car, how it’s used and the drivers that your insurer will cover.
1. Car age: Cars 20–25 years old are considered classics
What qualifies as a classic car varies by insurance company. Most companies want your classic or antique car to be at least 20–25 years old.
But this criteria doesn’t mean that classic insurers won’t cover a newer car. You’ll find some that accept cars as new as 10 years old, especially if it’s a rare or collector model.
2. Type of car: Cover more than just your old car
Your car might qualify for classic insurance if it’s considered a collector car for reasons other than its age. Types of cars that fit this mold:
Limited production models, like the BMW 1 Series M Coupe
Modified cars, like a modified Ford Mustang GT
Muscle cars, like the Chevrolet Chevelle SS
Replicas of older cars, like a Ford Roadster replica
Street legal performance cars, like the Chevrolet Corvette Z06
3. Condition: Your car must be in good shape
Insurance companies may require you to show that your classic car is restored or maintained in good condition. Think drivable and free from chipped paint, car accident damage, dents, scratches or rust.
One reason for this requirement is that an unmaintained classic probably isn’t safe on the street, making it risky to insure.
4. Driving and parking: How you use your car is limited
Along with your car’s age and body type, classic car insurers have requirements for how you use your car and where it’s stored. Those include:
Mileage limit — A limit of 6,000 miles per year is common, but each insurer sets different mileage limits. Some companies give unlimited mileage for pleasure rides.
Driven for pleasure — You can’t use your car as your main get-around. But you can use it for weekend rides or car shows.
Locked storage — You need to keep your classic in a locked, enclosed space like your garage when you’re not joyriding in it.
5. Driver eligibility: Some companies want safe, experienced drivers
Finally, you may need to meet a few standards for your age and driving record to qualify for classic car insurance. However, not all companies set these standards for drivers. You can look at other insurers with fewer eligibility rules if you don’t meet these.
Age — Some insurers want drivers to be a minimum age, such as 25 years old.
Driving record — If required, insurers will detail how many violations you can have. This requirement is usually strict, such as one violation or at-fault accident within the past three years.
Must own a daily driver — Classic car insurers expect you to own another car that you use as your main ride for work, school and errands.
Classic car insurance requirements by company
To give you an idea of which cars qualify, we researched the age and mileage requirements listed by classic car insurance companies. Since our list of the cars accepted is not exhaustive, you may want to call if you’re not sure if your car qualifies.
Insurance company
Car age
Mileage limits
American Modern, partners with Geico
Classics 25+ years old
Newer exotic or replica cars qualify
1,000, 3,000, 6,000 or unlimited mileage plans
Grundy
Classics 25+ years old
Newer muscle, exotic or modified cars qualify
No limits
Hagerty, partners with Allstate and Progressive
Classics from 1979+
Collector trucks and SUVs from 1996+
Military vehicles 20+ years old
Retired work vehicles 25+ years old
No limits, but can’t use as a daily driver
Heacock Classic
Classic cars built before 1980
Newer muscle, hot rods, replicas or collector cars qualify
6,000 miles per year
JC Taylor
Classics 19+ years old
Varies in some states
No limits, but can’t use as a daily driver
State Farm
Classics 10+ years old
Antiques 25+ years old
Must have historic roots, like a muscle car or hot rod
Limited to pleasure driving or car shows
Compare classic car insurance
Classic car insurance costs less than standard auto insurance
Collector car insurance typically costs less than standard auto insurance since classic car owners tend to drive their vehicles less. Compare average annual car insurance rates for 10 modern classic cars. Your car’s make, model, trim and year are the biggest factors that affect your actual rates.
Make & model
Average annual rate
Nissan GT-R
$158
Lotus Evora
$424
Lotus 3-Eleven
$464
Chevrolet SS
$164
Porsche Cayman
$108
Dodge Viper
$170
Ford Mustang
$166
Chevrolet Corvette
$238
Audi TT
$128
Dodge Challenger
$245
We pulled average rates using this profile:
2017 model year
10016 New York ZIP code
Single male driver, age 30
No previous claims
Classic car policies have typical insurance exclusions
A list of general exclusions applies to all classic car insurance policies. Your claim will usually not be paid for:
Loss or damage that happens outside the US
Tire damage from braking, punctures or cuts
Mechanical, structural or electrical failures
Repairs to existing damage
Deterioration, rust, corrosion or wear and tear
Fixing faulty repairs, unless as part of a claim
Replacing lock barrels and coded keypads
Depreciation or the loss of value of your vehicle
Intentional loss or damage
Damage from the legal seizure of your vehicle
War, riot, civil unrest or nuclear activity
Any act of terrorism
Discharge of any pollutants from your car
Not securing your car after a breakdown, collision or theft
Damage to your standard daily driver, unless you have separate insurance
5 ways to save on classic car insurance
Cut the cost of protecting your valuable classic with a little work before signing up for or renewing your policy.
Bundle other insurance. If you’re using a standard insurer, you may save if you buy homeowners or renters insurance from the same company.
Check with your car club. Belonging to a car club could lead to discounts from affiliated car insurers.
Combine cars. If you have several classic cars, see about insuring them all under one policy for savings.
Invest in security. An antitheft system and updated security for your garage could cut your premium.
Shop around. If you don’t like your rates, get quotes and compare coverage with other insurers, or negotiate a lower rate with your current insurer.
Bottom line
Classic car policies help you get the coverage you need for strolling around town or going to car shows. But they also consider the lower mileage that you probably drive with your classic compared to your main vehicle.
That said, since these policies are designed for classics alone, your car will need to fit your insurance company’s definition of a classic to get approved. Weigh the classic car insurers available against each other, and get quotes to find the right policy for you.
Sarah George is a personal finance writer at Finder who’s spent the last four years wielding her digital pen on all things banking and insurance. Her know-how has been featured in such publications as CBS, CNET and Reviews.com, and she was a panelist in Finder’s 2020 money-saving webinar. Sarah earned an English education degree and is a Certified Educator in Personal Finance.
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