Best Classic Car Insurance Companies
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Classic car insurance — also known as collector car insurance or antique car insurance — can be cheaper than ordinary auto insurance. But whether you’ve got an antique you take to trade shows or a hot rod you rebuilt in your garage, many classic car insurance companies have rules about mileage or where you can park your car.
Several specialty agencies focus on collector and classic car insurance, and many big-name insurers offer it too. The right fit for you depends on your vehicle, how you use it and what coverage you’re looking for.
The best classic car insurance companies for:
Regular use of a classic car — Safeco
Classic car extras — Hagerty
Classic cars rising in value — Grundy
Emergency expenses coverage — American Collectors
No single insurer is the best for every driver. We recommend getting classic car insurance quotes from several companies and comparing them to find the right fit.
Best for regular use of a classic car: Safeco
Driving your vintage car to work every day is a no-go for many collector car insurance companies. You’ll probably be limited to pleasure use, which includes Sunday afternoon drives and trips to car shows. If that’s too restrictive for you, Safeco also offers regular-use coverage with an annual limit of 10,000 miles. Drivers who stay under 5,000 miles may qualify for cheaper rates. (Read our Safeco auto insurance review to learn more.)
Mileage options from some other companies include:
Company | Annual mileage allowed for pleasure use. |
|---|---|
American Family, Grundy, Hagerty and J.C. Taylor | Unlimited. |
American Collectors | 2,500, 5,000 or 7,500. |
American Modern | 1,000, 3,000, 6,000 or unlimited. |
Heacock | Up to 6,000. |
Best for classic car extras: Hagerty
Hagerty’s classic car insurance offers extra perks for drivers who love the antique car lifestyle. For example, you can also insure your “automobilia” — historic collectibles like gas pumps, license plates and hood ornaments.
Hagerty’s DriveShare program lets you rent out or drive vintage vehicles. You can also join Hagerty’s Drivers Club, which gives access to roadside assistance, automotive manuals, advice from Hagerty’s auto experts and more. The Drivers Club is open to drivers whether or not they get their classic car insurance from Hagerty, but it does require a monthly fee.
Best for classic cars rising in value: Grundy
Most classic car insurance companies use “agreed value,” where you and the insurer will agree on how much your car is worth. That’s the amount you’ll get if the car is stolen or totaled, even if the value has increased.
Grundy’s classic car insurance allows you to add the Motor Vehicle Program, which can pay up to 150% of the insured amount if your car’s value has gone up, depending on where you live.
This type of policy isn’t limited to Grundy. Policies from American Collectors include inflation protection of up to 6% for no additional premium. Check if your insurer has any sort of provision for classic car value changes.
Best for emergency expenses coverage: American Collectors
When driving a decades-old vehicle, you may want to be prepared for breakdowns and other hazards. Many classic car insurance companies offer coverage for towing and roadside assistance, but American Collectors adds some notable extras in the gold, platinum and titanium levels of its Collector Auto Reimbursement Endorsement Plan.
For example, if your vehicle is stolen, American Collectors will offer a cash reward for information leading to its return — $2,500 if you have the gold plan and $5,000 if you chose the platinum or titanium plan. Those plans will also reimburse some nonrefundable car show and hotel fees if you miss a car show because of an accident or mechanical breakdown.
The platinum plan also provides $5,000 of coverage for bail bonds and $1,000 for legal defenses, while the titanium plan offers $6,000 and $1,500 of coverage, respectively. (These benefits vary by state, so if this is important to you, make sure your state is eligible.)
More classic car insurance companies
Here are more classic car insurance companies, but not all of them are available in every state:
Specialty agencies and companies selling classic car insurance | ||
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Traditional insurers that also sell classic car insurance | ||
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Traditional companies with specialty partnerships for classic car insurance | ||
Hagerty partners: |
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American Modern partners: |
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American Collectors partner: |
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Assurant partner: |
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* USAA is available only to military families, veterans and some federal employees. | ||
When does a car become a classic for insurance?
Classic car insurance companies don’t always require appraisals, but they’ll probably have qualifications you and your car must meet before you can get classic car insurance.
Requirements vary from one company to the next, but here’s an idea of what you can expect.
Qualifications for the car
Age. The number varies by company, but some insurers may require a car to be 10 years old while others will require it to be at least 25 years old.
Condition. Insurers expect classic cars to be well-maintained, but some wear is expected for older cars.
Use. A collector car isn’t intended to be your daily ride. Some policies allow occasional use, while others strictly forbid running errands in your classic car or driving it to work.
Storage. Classic car insurance typically requires your vehicle to be kept in a locked garage.
Qualifications for the driver
Age and experience. Collector car insurance typically requires drivers to be at least 25 years old.
Driving record. Insurers want to see a good driving record for anyone behind the wheel of a collector vehicle. Many require applicants to have no major violations or accidents in the past three to five years.
Additional car. Companies typically require you to own a separate vehicle for regular use.
Qualifications for the car
Age. The number varies by company, but some insurers may require a car to be 10 years old while others will require it to be at least 25 years old.
Condition. Insurers expect classic cars to be well-maintained, but some wear is expected for older cars.
Use. A collector car isn’t intended to be your daily ride. Some policies allow occasional use, while others strictly forbid running errands in your classic car or driving it to work.
Storage. Classic car insurance typically requires your vehicle to be kept in a locked garage.
Qualifications for the driver
Age and experience. Collector car insurance typically requires drivers to be at least 25 years old.
Driving record. Insurers want to see a good driving record for anyone behind the wheel of a collector vehicle. Many require applicants to have no major violations or accidents in the past three to five years.
Additional car. Companies typically require you to own a separate vehicle for regular use.
Shopping for classic car insurance
When you shop for classic car insurance, ask about these features to make sure the policy is as unique as your car.
Limited mileage. Many classic car insurance companies limit the number of miles you can put on a covered vehicle. If you plan to use your car for daily use or longer trips, you may want to pick an insurer that offers unlimited annual mileage.
Agreed value. If you’re restoring a vehicle, you probably want your policy’s limits to increase as the car’s value increases. Most antique car insurance is based on “agreed value” or “guaranteed value,” but some companies will reassess that number over time. For example, Hagerty offers an optional Vehicle Under Construction plan, which boosts your guaranteed value by 10% per quarter (up to $25,000) during restoration.
Expensive repairs. Anyone who tinkers with cars knows how expensive parts can be, especially for collectible vehicles. Many classic car insurance companies offer parts coverage as a result. We found that American Modern, Heacock and Leland-West all provide coverage for lost or stolen spare parts, with an option to buy even more coverage in some cases.
Roadside assistance. Antique and restored vehicles might not be as reliable as other cars you own. That makes roadside assistance valuable, especially if you use the car for pleasure use or roadtrips. You may want to choose an insurer like American Collectors, which offers different levels of roadside assistance — the highest tier pays for emergency towing fees up to $350.
How to get cheap classic car insurance
Classic car insurance companies may offer various discounts. As you compare collector car policies, ask the companies if these discounts and savings opportunities are available to you.
More than one car. Several companies offer discounts for insuring more than one car, whether it’s multiple classic vehicles or your collector car plus your everyday vehicle.
More than one policy. You may get a discount if you bundle your classic car policy with other types of coverage, like homeowners insurance or life insurance.
Fewer miles. Unlimited mileage may sound great, but if you don’t drive your collector car much, a policy with a mileage limit might be cheaper.
Higher deductible. Although several companies will let you choose a zero-deductible policy, a higher deductible means a lower premium.
Anti-theft devices. Some companies may give price breaks for anti-theft measures.
Car club membership. You may get a discount if you’re part of an approved car club, depending on the company and where you live.
Safe driving course. Taking an accident prevention course can earn you a discount with some companies.
To get quotes for a classic car insurance policy, you should contact those insurers directly.