Antique Car Insurance
Antique car insurance covers collector vehicles up to an agreed value, and the best providers include Hagerty, American Modern, and American Collectors.
Find out if you’re paying too much for auto insurance here.
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Key Points:
- Antique car insurance is for valuable vehicles over 25 years old that are not used for daily driving.
- Classic car insurance policies are similar to standard policies but with more requirements to qualify for coverage.
- We recommend Hagerty, American Modern, and American Collectors for your antique auto insurance policy.
Your antique car is a beauty, and you take a lot of pride in it. Antique auto insurance protects your vehicle whether you’re driving it to the local car show or keeping it in a garage for restoration.
While we’ve done an in-depth review of the best car insurance companies, not every provider offers protection for classic vehicles. With over 1,950 hours of research backing our methodology, we’ll discuss both mainstream and specialty companies that have policies for vintage cars.
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What Is Antique Car Insurance?
Antique auto insurance is coverage specifically designed to protect your valuable antique collector car. An antique car insurance policy slightly differs from a regular car insurance policy. Antique cars often either maintain or increase their value instead of depreciating. Because of this, a classic car insurance policy typically covers your vehicle up to an agreed upon value instead of its actual cash value. Standard auto insurance might not provide the same level of coverage for your regular-use vehicle.
In addition, most antique auto insurance providers have a set of requirements both you and your vehicle need to meet in order to obtain an insurance policy. As each provider will have different requirements, it’s best to compare insurers to see which suits your antique vehicle’s needs.
What Does Antique Car Insurance Cover?
If you have a vehicle such as a ’37 Buick, ’67 Chevy Corvette Stingray, or ’77 Camaro Z-28 sitting in your garage, you may be tempted to cover it with a standard insurance policy. However, that’s not the best plan, as standard auto insurance coverage is better suited for your everyday vehicle.
Besides the usual insurance coverages, you’ll find some of these additional coverages with an antique auto insurance policy:
| Coverage Type | Details |
|---|---|
| Personal Property | If your personal items are stolen from your vehicle or get damaged during an accident, you’ll have the coverage needed to replace the items. |
| Roadside Assistance | This coverage supplies towing, battery jumps, and tire replacement should your classic car break down, as well as lock-out assistance. |
| Travel Emergency | This classic car coverage gives you an allowance for meals, transportation, and lodging if a claim occurs while you’re away from home, traveling to an auto show or elsewhere. |
| Diminishing Deductible | Some companies lower your deductible each year you don’t have an accident. |
| Pet Coverage | If you like to take your pet to car shows with you, their injuries will be covered in case of an accident. |
| No Attendance | This coverage option is mainly used to protect your antique vehicle while at car shows or parades when you’re not around. |
| Spare Parts Coverage | It isn’t always cheap to get your hands on replacement parts. This plan covers the spare parts you might need up to an agreed value. |
Standard Classic Car Insurance Coverage Options
While classic car insurance offers some coverages that are exclusive to antique automobiles, it still works the same way as your standard auto policy. Coverages can vary between providers, but here are the standard insurance options that often come with a classic auto insurance policy:
- Liability: Covers medical expenses for other drivers and damage to other cars when you cause an accident
- Collision: Covers damage to your vehicle from an accident
- Comprehensive car insurance: Covers damage to your vehicle from events like floods, theft, or vandalism
- Medical coverage: Medical payments (MedPay) and personal injury protection (PIP) cover your medical bills no matter who was at fault in an accident
- Uninsured/underinsured motorist: Covers property damage and injury caused by someone without insurance (or without enough)
Even though your antique car insurance policy covers many of the same things that a standard policy does, your insurance rates may be much lower. That’s because you’ll usually drive the car a lot less, which makes it less of a risk for insurance carriers.
Your classic or luxury car can be much more valuable than your average vehicle. Because of this, coverage limits for classic car owners are typically higher than those for everyday drivers. For example, it’s not uncommon for an antique auto policy to cover $1 million in collision or liability.
Antique Car Insurance Requirements
While each company will require different criteria for your antique automobile, most antique auto insurance policies are similar. Insurance companies want you to have another vehicle for regular use as your daily driver, and require you have that car insured. In addition, there will likely be a mileage restriction placed on your vintage vehicle if you choose to purchase antique auto insurance.
Your car insurer might specify or restrict the way you use your classic car. These restrictions could limit use to car shows, parades, or recreation. Classic auto insurance companies also like to see that drivers of your antique car have a clean driving record.
Additionally, you may be required to have 10 years or more of driving experience or be at least 25 years old to qualify for antique car insurance. Some classic car insurance companies give out discounts for being a mature driver.
Under antique auto insurance coverage, you are responsible for taking proper care of the vehicle. It must be kept in a garage and protected from the elements. You also won’t have coverage for high-risk events, such as racing, unless you choose the appropriate plan.
What Vehicles Qualify For Antique Auto Insurance?
You will find varying levels of collector car insurance for qualifying cars. There are even coverage plans for antique military vehicles, kit cars, tractors, and other rare and exotic cars. See below for more information on eligibility and qualified vehicles:
- Antique or classic cars: If your stock vehicle is more than 25 years old, you can likely get antique car insurance for it.
- Replica or modified cars: While many antique auto insurance companies allow you to add on extra protection for modifications, there’s typically a limit to that coverage. If you have performed extensive modifications or created a replica of an older vehicle (like a hot rod, for example), you’ll want a plan that allows for that.
- Exotic cars: If you have a high-value supercar, exotic car, or limited production vehicle that is newer, you might also require specialty insurance.
- Race cars: Likewise, if your vehicle is used for racing, you want specific coverage for storage and trailering. This plan is often more expensive, and most policies are event-based. Your insurance will be strictly for when you race, with storage coverage for the rest of the year.
- Restoration cars: If you are currently restoring a classic car, don’t neglect coverage. The insurance carrier will likely want to see high-quality photographs of the restorations to understand what’s being worked on. Once the restoration is complete, don’t forget to update your antique auto insurance policy.
Available Antique Auto Insurance Discounts
Depending on what antique car insurance agency you choose, you’ll likely have a selection of available discounts that can save you more money. See below for some of the most common discounts from top antique auto insurance companies.
| Discount | Details |
|---|---|
| Winter Storage | Some insurers provide discounts for vehicles that will spend a significant amount of time in storage, especially during the winter. |
| Anti-Theft Device | Thieves target collectible cars because of their higher value. If you have an alarm or other anti-theft protection, many insurance companies will provide a discount. |
| Accident Prevention Course | If you’ve taken an accredited accident prevention course, you might be able to get a discount. |
| Multi-Policy | You might receive a discount on your antique car insurance by insuring other items with the same company. Try to bundle your homeowners, renters, or life insurance when possible. |
| Restricted Usage | Most providers already have mileage restrictions, but it’s possible to take your restriction even lower to save more cash. |
| Multi-Car | If you choose a provider that offers both classic car insurance and regular insurance, you can get a discount simply by using the same company for all of your vehicles. |
Who Sells Antique Auto Insurance?
Many companies provide some form of antique auto coverage to keep your car insured. There are specialty agencies that deal exclusively with antique automobiles and standard car insurance companies that provide antique car insurance policies.
Specialty agencies that sell classic car insurance include:
- American Collectors Insurance
- American Modern Insurance
- Condon Skelly Insurance
- Grundy Classic Car Insurance
- Hagerty Auto Insurance
- Heacock Auto Insurance
- Leland-West Car Insurance
Some standard auto insurance companies with antique car insurance policies include:
- American Family Auto Insurance
- American National Auto Insurance
- Farmers Auto Insurance
- Liberty Mutual Auto Insurance
- Safeco Car Insurance
- State Farm Auto Insurance
Several traditional car insurance companies partner with specialty companies to provide antique auto insurance, such as:
- Hagerty Auto Insurance: Partners with Allstate, Nationwide, and Progressive
- American Modern Insurance: Partners with Geico and The Hartford
- American Collectors Insurance: Partners with USAA
We recommend researching various providers and obtaining free car insurance quotes so that you choose the right policy for your classic or antique vehicle.
Best Antique Car Insurance Companies
Our recommendations for the best classic car insurance are Hagerty, American Modern, and American Collectors. These three partner with Progressive, Geico, and USAA, respectively.
Hagerty/Progressive
Progressive works directly with Hagerty to offer antique car insurance. Your car generally must be between 25 and 50 years old, although there are coverage options for older vehicles. With Hagerty behind your insurance plan, you’ll have access to its Guaranteed Value coverage. This plan sets your car’s value at an agreed-upon rate that you’ll receive in the event of a total loss. Hagerty also includes original replacement parts coverage and flexible usage options.
Trustpilot reviews label Hagerty as “Great,” with a 4.1-star rating. Progressive is also a reputable regular auto insurance company that has been in the business since 1937 and holds an A+ financial strength rating with AM Best.
If you are already a Progressive policyholder and are looking to purchase an antique auto insurance policy, you will also have the chance to save more with the multi-car discount.
Read more: Progressive Insurance Review
American Modern/Geico
Geico partners with American Modern to provide antique car insurance to its customers. Whether you are driving to the local car club or participating in holiday parades, you will find that Geico has you covered. To qualify for coverage, your vehicle must be one of the following:
- At least 25 model years old
- Exotic car
- New replica car
- Common antique model
- Classic military vehicle or otherwise special model (such as a fire truck or hearse)
In addition, the vehicle can only be used for club activities, occasional pleasure, and exhibitions. It’s not permitted as your primary means of transportation, and your car must also be stored in a fully enclosed and locked structure.
In return, Geico provides all the standard coverage options. You can also expect low deductibles and an agreed value plan that gives you a specific amount in the event of a total loss. There’s no depreciation with these plans. Plus, Geico doesn’t require a vehicle appraisal to begin coverage. As far as reputation is concerned, both Geico and American Modern have A+ BBB ratings.
Compare: Geico vs. Progressive
American Collectors/USAA
If you are a military member, veteran, or part of a military family, you can receive antique auto insurance through USAA with the backing of American Collectors. The plans are available for classics, exotics, kits, replicas, muscle cars, collector vehicles, vintage motorcycles, and street rods. To be eligible for coverage, the vehicle can only be driven for pleasure, must be stored in an enclosed and locked garage, and can’t be used for racing or other timed events. In exchange, you’ll receive the following benefits with your plan:
- Agreed-value coverage: You agree with your insurer on a value for the vehicle.
- Flexible mileage: You can choose a flexible mileage term to best suit your needs. Many plans offer a variety of terms, from 2,500 to 7,500 mileage limit tiers.
- Automatic coverage: If you add a new car to your collection, it is automatically protected up to $100,000 for the first 30 days.
USAA tops the charts for its ratings in the 2023 J.D. Power Insurance Shopping Study℠ and the 2023 J.D. Power U.S. Auto Claims Satisfaction Study℠. In addition, American Collectors Insurance features an “Excellent” rating from Trustpilot, with 4.9 out of 5.0 stars.
Read More: USAA Insurance Review
Antique Auto Insurance: Our Take
An antique auto insurance policy ensures that your beloved classic or antique vehicle is well taken care of in an accident. It’s typically cheaper than a traditional auto insurance policy, but that doesn’t mean there isn’t more money to be saved with the right provider. We encourage you to get quotes from multiple antique auto insurance providers to help you find the cheapest insurance providers.
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Antique Car Insurance: FAQ
Below are a few frequently asked questions on antique car insurance:
Is a car considered an antique after 25 years?
While definitions vary between coverage providers, many insurance companies classify classic cars as vehicles more than 25 years old. Insurance providers may also require antique cars to be in good shape, and will likely institute a mileage cap on your vehicle.
Is insurance cheaper for antique cars?
Insurance is usually cheaper for antique cars if you only drive the vehicle occasionally and keep it in a garage most of the time. However, you’ll pay more for insurance if you want to use an antique car as a daily driver or if it has a very high value.
How much is insurance for an antique car?
What you pay to insure your antique car depends on the type of coverage you want, your background, the value of the vehicle, and more. We recommend obtaining quotes from multiple providers to compare prices for the coverage you need.
How does antique car insurance work?
Antique car insurance works similarly to standard car insurance. You can get liability, collision, comprehensive, and medical payments coverage, plus extras like roadside assistance. However, classic car insurance will pay an agreed-upon value for the car in the case of a total loss to cover appreciation.
Do you need insurance for an antique car?
Typically, older non-collectible vehicles don’t need much insurance. Insuring a classic vehicle is about financially protecting the value of the car and meeting state requirements for minimum coverage.
How We Rate Auto Insurers
Our review team extensively researches auto insurance providers to deliver informed and unbiased assessments of leading companies. We evaluate several key rating factors that are important to consumers to determine which providers are the best in the industry:
- Reliability: It’s important that an auto insurer is able to meet its claims obligations. Companies with a strong financial strength rating from AM Best score best in this category. Established insurers with a long history of reliable service also receive positive marks.
- Availability: Insurance companies that offer wider availability to consumers in terms of state availability and few eligibility requirements are more likely to meet consumer needs.
- Coverage: To determine our coverage score, we look at the number of coverage options available as well as coverage limits and deductible options. Our ratings also take into account additional services and benefits like roadside assistance.
- Pricing: Cost can be difficult to compare between insurers because so many factors impact annual premiums. The cheapest insurer for one driver may not be the cheapest for another. To determine our cost score, we look at insurance rate estimates generated by Quadrant Information Services, discount opportunities, and consumer reports.
- Service: We comb through customer reviews on sites like the Better Business Bureau (BBB) to learn about customer experiences. Insurers with a low volume of complaints score well in this area. We also consider the claims process, giving higher ratings to car insurance providers that offer a smooth experience.
- Technology: Providers with an online quote tool, easy-to-use claims app and a usage-based insurance app score best in this category.
