Best Classic and Collector Car Insurance

Classic car insurance is specifically designed for vintage and collector vehicles, offering agreed value coverage to protect the car’s worth without factoring in depreciation. These policies often include mileage limits to maintain the car’s condition and require secure storage, such as a locked garage. Selecting the right insurer is essential to safeguard your investment, and we’ve highlighted the top providers to help you find the best coverage.

Rates can vary from company to company by hundreds of dollars per year, even for the same make and model vehicle. Choosing an affordable car insurance policy can save you thousands of dollars throughout your life. Take a look at the chart below for examples of how your premium can change from company to company.

The type of car you drive is one of the factors that affects your auto insurance costs. Unlike other vehicles, classic and collector cars gain value over time. That’s why getting the right insurance is important.

Because classic, collector and antique cars are so unique, every type of vehicle may not be covered by every classic car insurer. Some classic car insurers only insure antique or classic vehicles, while others will insure those along with brand-new luxury vehicles. Some companies require specific insurance coverage; others may offer monthly car insurance.

MoneyGeek has done extensive research to determine which companies offer the best classic car insurance on the market for different needs and circumstances.

To ensure you get the best classic and collector car coverage option for your needs, explore the following sections for guidance on choosing the right policy. This will help you find the balance between coverage and cost, tailored to your situation.

Classic car insurance policies typically include comprehensive and collision, with additional liability coverage options, roadside assistance and other extras. While a basic policy may cover only liability, comprehensive and collision, some owners with greater financial assets or specific needs may opt for higher-level policies that can provide more robust protection, including:

While insurance laws and requirements vary by state, classic car insurance is typically required for many of the same reasons traditional car insurance is required. Liability coverage is necessary to pay for any damages you may cause while driving, whereas comprehensive and collision coverages are often required by your lender to pay for damages to your vehicle until you have paid off your loans.

To qualify for classic car insurance, you typically need to meet the following requirements:

• Your classic car cannot be your daily-use vehicle.
• Your classic car must be defined as a classic car (25 years or older, etc.).
• Classic cars must be stored securely, typically in an enclosed garage or other indoor location.
• Racing is not allowed, and claims may be denied if it is discovered that damage was done to an insured car while racing.
• Drivers typically need to have a clean driving record, with no accidents or violations within three years.
• All household members with a valid driver’s license must have their own daily-use vehicle with active insurance separate from the classic car.

Traditional car insurance is designed for cars that are used daily. While classic car coverage offers the same basic benefits (liability, comprehensive, collision, etc.), it is designed to protect an asset that appreciates over time as opposed to a vehicle that is solely a form of transportation. Classic cars need exclusive insurance coverage because how value is calculated between a classic car and a standard car is so drastically different.

Just like insurance companies that offer standard car insurance, classic car insurance companies all have unique products. Each provider offers different services and prices, and they also have different requirements to insure a classic car. While Hagerty is the best overall insurance company for classic car coverage, the best company for you will depend on numerous factors, including the type of classic car you have and how often you drive it.

American Family

American National

Condon Skelly

Farmers

Grundy

Heacock

J.C. Taylor

State Farm

Classic car insurance is a necessity for anyone whose vehicle appreciates over time. Anyone who owns a classic car, collector car or other specialized vehicle needs a classic car policy. The coverage you need will depend on your unique situation, including:

• What type of classic car you have
• Whether or not your car is under restoration
• The number of classic cars you own
• The number of miles you drive in a given year

Getting a personalized quote for your vehicle is the best way to guarantee you are getting the best coverage and rates available for your prized, one-of-a-kind vehicle.

Why Trust MoneyGeek? We gathered data from Quadrant Information Services and state insurance departments to determine the average cost of a multi-car insurance policy. We also consulted various reputable sources to analyze the pros and cons of getting a multi-car insurance policy versus multiple individual policies.

Study Overview:

To accurately calculate the average costs of insurance for multiple insurance policies, MoneyGeek gathered and evaluated rates using two sample driver profiles.

Data Sources and Depth:
We examined 766,080 quotes across 900 ZIP codes from 16 companies using information from state insurance departments and Quadrant Information Services.

Driver Profile:

We calculated our classic car discounts by finding the difference in price for insuring a '66 Ford Mustang worth $15k versus a '69 Chevrolet Camaro worth $23k. Our driver profile is for someone with a clean driving record.

Learn more about MoneyGeek's methodology.