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Compare rare car insurance
How to get the best deals for your exclusive model.
You might baby your car more than most, especially when it comes to insurance coverage. But that doesn’t mean you have to pay more for it. You stand to save as much as 40% on specialty policies if you’re willing to meet the requirements.
What kind of coverage do I need for my rare car?
Rare or collectible cars may need certain types of insurance, even if you don’t drive the car much. Those include:
Bodily injury liability
Cover at least minimum state requirements so you can pay for medical bills related to an accident that you cause.
Pay for vehicle or property damage to another person’s property when you’re at fault.
Get the full car value covered during a total loss accident, based on the amount agreed upon between you and your insurer.
Protect your rare car from noncollision incidents like theft, vandalism or weather damage.
Opt to protect your car from damage when on the road, even if you don’t drive that often.
Underinsured coverage kicks in to fill the difference when another driver can’t cover the damages they’ve caused to your car.
- Roadside assistance
- Accident forgiveness
- Collision coverage
Best insurance for rare car models: Liberty Mutual
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- Roadside assistance
- Accident forgiveness
- Collision coverage
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- Coverage for every location
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What add-ons or benefits should I consider for rare cars?
Your car may have cost you a pretty penny to restore, show or keep in pristine condition. Here are a few add-ons and benefits to protect your investment:
- Original Equipment Manufacturer (OEM) parts. Opt for coverage that repairs your car with original or specialized parts if you’re concerned about finding the right ones.
- Roadside assistance. Get help for minor roadside needs and breakdowns if you drive your collectible around and know it’s not the most reliable.
- No mileage limits. While some insurers offer discounts for low mileage, others don’t restrict you from pleasure rides. Consider this if your rare car is your daily driver.
- Car show coverage. Insurers may include special coverage for car shows, including a no attendance policy or overseas tour. If your car is only used for car shows, you can sometimes get a low-mileage discount.
- Spare parts. Have an active car restoration project or do your own car repairs? Protect the spare parts you keep in your garage from theft or damage.
Do different kinds of rare cars have different insurance requirements?
Car insurance companies may classify your rare car in a few different categories. The categories are similar but may affect your rates based on the car’s age and value:
- Classic car. This car can be newer than other collectible autos, but it may be exclusive or limited production. Getting coverage for original manufacturer parts might be important due to their cost and lack of availability.
- Antique car. Often defined as 25 years or older, you may consider agreed value coverage for this car. Some antique cars don’t cost much to purchase, but upkeep and restoration can make it more valuable. Also, consider special coverage if you’d like to take it to car shows.
- Special interest car. The main characteristic here is that the car maintains or appreciates in value over the years. This car may require higher collision or comprehensive limits to cover its value. Also, consider agreed value coverage to insure the full value of the car, no matter the market price.
Rare car model examples
If your car is similar to one of these car models, you could qualify for rare car insurance:
- 1939 Alfa Romeo 8c Lungo Spider
- 1964 Aston Martin DB5
- 1966 Shelby 427 Cobra
- 1972 Chevrolet C10 pickup
- 1984 Cadillac Eldorado
- 1987 Ford Mustang GT
- 1990 BMW M3
- 1991 Acura NSX
- 1996 Chevrolet Impala SS
- 2000 Acura Integra Type R
- 2001 AM General Hummer
How can I save on car insurance for rare cars?
Insuring your classic or collectible car may not cost you as much as you’d think. In some cases, you could pay up to 40% less on your premium, especially if you need lower coverage. Since the average insurance rate is around $1,300 per year, your classic, collectible or rare car might only cost you $780 per year.
In some cases, though, the car may up your rates due to high MSRP value or a specialty policy. Consider some of these rate-saving tactics:
- Low mileage discount. Get a discount for putting low to no annual mileage on the car or choosing a pay-as-you-go plan.
- Seasonal insurance. Consider temporary or seasonal insurance that lowers coverage during a specified period. Often, comprehensive coverage alone is maintained on the vehicle.
- Minimal coverage. Make sure the coverage you have is necessary for your situation. For example, you may not need liability or collision if you don’t drive your classic car.
- Look for discounts. Stack multiple easy discounts on your auto policy, such as multicar, automatic payments and safety features.
How do I get rare car insurance?
Applying for rare car insurance works much the same as regular car insurance:
- Identify providers who offer this type of policy — typically called antique, collectible or classic car insurance.
- Enter your location to start an online quote or call a representative. Many online quote tools don’t include rare cars or older year models, so calling to get a quote might be your fastest option.
- Fill in your personal information and vehicle details, especially the car’s age and value.
- Confirm your information and get a quote.
- Some companies require an official appraisal of the vehicle to prove its value. Send documentation based on the insurer’s instructions.
What info do I need to apply?
Keep the application process running smoothly by keeping some information on hand:
- Home address and phone number
- Vehicle details such as make, model, license plate number, age and value
- Value appraisal documentation, if applicable
- Policy start date and coverage needs
- Payment information
What should I watch out for?
While you may enjoy lower rates for rare car insurance, there are a few specifics you should look out for:
- Mileage limits. Many insurers restrict how much you drive your classic car, which is one way the rates stay low. But you can find some who allow you to use it as a daily driver.
- Storage. You may also be required to keep the car in a garage for safekeeping to lower your risk and your insurance rates.
- Actual cash value. If insuring an old car with a traditional policy, make sure you’ll receive payout for the car’s full value. Its actual cash value may be well below the classic car’s worth after restoration.
Rare cars may have special insurance needs, such as agreed value, OEM parts or car show coverage. However, you might be surprised to know that these cars often cost less to insure.
Compare insurance providers that give you the best value and protection for your rare or exclusive car.
Frequently asked questions about rare car insurance
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