Nothing in the world is quite like gripping the steering wheel of your classic car for a weekend cruise. Onlookers drop their jaws, do double and triple takes, and ask each other, “Did you see that?”
Your unique vehicle deserves unique coverage. How do you go about choosing the right classic car coverage?
How to Get the Cheapest Car Insurance for Your Classic Car
Keeping a safe driving record, bundling where possible, and shopping around are some best practices whether a car is “regular” or classic. Here are eight tips that will help maximize discounts and get you the lowest rate for your classic car:
- Anti-theft Devices. Many insurance providers offer discounts for these devices. For example, at American Modern, you can save up to 20 percent.
- Car Club Memberships. With some companies, you could save as much as 10 percent for being in a club you may already have a membership in.
- Higher Deductibles. Several companies let you choose between low or even $0 deductible policies, you can choose a higher deductible for lower overall premiums.
- Multiple Cars. Why not bring the entire collection? While it’s not recommended to bundle your regular car and classic car on the same auto policy, you can combine more than one classic or collectible that qualifies. Most insurance providers give a discount for more than one vehicle.
- Multiple Policies. One of the best ways to see your premium slashed is to do other business with the carrier. Specialty insurers who just focus on classics may not offer this option. But traditional insurers will let you bundle a homeowners, boat, or even life policy with your classic car insurance policy to lower your overall bill.
- Reduced Mileage. Why pay for more miles than you need? Often, companies have options for unlimited pleasure riding, but if you don’t need that, you can save money.
- Safe Driver Courses. It might be fun to sharpen your skills and get a price break while doing it. Some companies will give you up to a 10 percent discount when you take a course.
- Winter Storage. If you only drive your baby in the summer, then why not cut your price down to reflect that. Insurance carriers such as Safeco offer this discount.
Best Companies for Classic Car Insurance
The best policy for a Model A might be altogether different from the right one for a GT350. Rather than trying to find a one-size-fits-all policy, focus on the benefits that make the most sense for how you use your vehicle. Here are 10 companies with unique feature sets (please note that all carriers are available in all 50 states):
1. American Collectors
Best for Emergency Roadside Coverage
If you travel for car shows, parades, and other events to display your classic vehicle, then you’ll want to put American Collectors on your list. They boast “the most comprehensive towing and labor expense reimbursement plan for collector vehicles today.” You can choose between Silver, Gold, and Platinum levels on the TLC plan.
Depending on the level you choose, you can expect:
- Emergency Lockout (all levels)
- Emergency Towing (all levels)
- Roadside Assistance (all levels)
- Accidental Death & Dismemberment
- Ambulance Assistance
- Bail Bond
- Car Show Expense
- Emergency Travel Expense
- Hit & Run Info Reward
- Legal Defense
- Personal Effects
- Theft Reward
- Trailer Guard
And the insurer offers flexible mileage, restoration protection, inflation guard up to six percent coverage above the agreed value, $500 spare part coverage, and deductible options so you can select the best pricing for your vehicle. You’ll have automatic coverage up to $100,000 for up to 30 days.
2. American Modern
Best for Spare Parts Coverage
When you have an inventory of hard-to-replace parts, American Modern is a smart choice. This specialty insurance company has the highest spare parts coverage at $2,000. It will cover your vehicle at the agreed value, and it sells policies for exotic cars.
If you come across a car you can’t live without, the company gives $50,000 of automatic coverage for 30 days. You can also choose the right mileage depending on how you drive for pleasure at 1,000 miles, 3,000 miles, 6,000 miles, or unlimited.
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Best for App and Online Management
GEICO is a brand with national recognition and a slogan almost everyone can quote. If you want to integrate all your policies under one carrier, then you might choose GEICO.
You can manage everything with the app or online, so you can spend more time behind the wheel or under the hood. For classic car insurance, GEICO wants vehicles that are 25 years or older, although there is some flexibility for newer unique, rare, or limited-production cars. The insurance company partners with American Modern and Assurant for its policies.
Best for Classic Car with Increasing Value
This specialty insurance company is the largest insurer of hot rods in the nation. James Grundy pioneered the agreed value coverage, and that heritage continues today. So, when you have a vehicle that has appreciating value, you’ll want to check Grundy.
The company’s MVP program gives a 150 percent inflation guard, so your protection is never a question. And you can cruise for unlimited pleasure miles. You’ll have $500 spare parts coverage, trip interruption protection, and $250 for towing and labor. The company insures classics that are at least 25 years old and all years for modified vehicles that are not driven daily with higher performance engines, suspensions, and bodies.
Best for Classic Car Community and Culture
Hagerty is a community, culture, and car insurer all wrapped into one. You can join the Hagerty Drivers club for exclusive discounts, their magazine, members-only events, and much more. Hagerty Carcierge can track down OEM, NOS, and LKQ parts you need.
You’ll have guaranteed value, flexible mileage, and expert claims handling from car specialists. They also offer $750 spare parts coverage and optional protection for tools and memorabilia. Car lovers across the nation think Hagerty is at least worth a look.
Best for Classic Race Car Drivers
On your marks, get set, go. Some drivers believe classics and collectibles are meant to be raced. This specialty insurance provider, Heacock, has race car coverage for all those who have the “need for speed.” You also have flexible mileage limits, included roadside assistance, guaranteed flatbed towing, restoration coverage, and $0 deductible for claims.
7. J.C. Taylor
Best for Car Club Members
J.C. Taylor is the specialty insurer of choice for many club members from:
- Antique Automobile Club of America
- AACA Museum
- Cadillac & LaSalle Club
- Classic Car Club of America
- Classic Thunderbird Club International
- Horseless Carriage Club of America
- Model A Ford Club of America
- National Woodie Club
- Pierce-Arrow Society
Your vehicle must be 25 years or older. There’s no mileage limitation, but they underwrite their policies with a 2,500-mileage yearly expectation. The company offers plans for replicas, exotics, and kit cars along with $750 spare parts coverage.
Best for Daily Drivers
Do you plan to show your beauty at work every day? Then Safeco, part of Liberty Mutual, might be a great option. The maximum yearly limit is 10,000 miles, and the limited use plan is 5,000 miles.
Safeco gives optional plans for roadside, emergency assistance, diminishing deductible, personal property protection, and pet coverage. The company does not cover kit cars, race cars, or restoration cars rebuilt less than 50 percent.
9. State Farm
Best for Classic and Traditional Insurance
State Farm writes its own classic car policies, unlike other traditional insurance companies. The company gives you the chance to have the policies for your home, boat, regular car, collectibles, and many others with one agent.
The insurance company gives $500 spare parts coverage and lets you insure vehicles that are just 10 years old or older. You can have everything under one roof with a 24/7 claims service that is there like a “good neighbor.”
10. The Hartford
Best for AARP Members
AARP members and drivers with seniority should maximize discounts with The Hartford. Your vehicle must be at least 10 years old to get a policy. Hartford has one of the best levels of customer service amongst insurance companies. They understand that their customers want to speak to real live people, so they make that option available. If you’re already an AARP member or were planning to get a membership, then you might want to get a quote.
How Is Classic and Collector Car Insurance Different from Regular Car Insurance?
First, let’s talk about how it’s similar. You’ll still have coverage for bodily injury liability, comprehensive coverage, collision coverage, and medical coverage (depending on your state). This way, you’re legal and meet the state requirements for protection.
The difference comes in how the vehicle is insured. The insurance company and driver will agree upon an insured amount determined by appraisal or underwriting. Since classic and collector car policies are not for daily driving, the plans are usually cheaper.
Most insurers require you to garage the vehicle in a secured location, and they offer tailored protection like spare parts or restoration coverage. Other common qualifications:
Classic Car Specifications
- Age. Ten years is the minimum for a classic and usually 25 years for antiques. Every company has a different requirement. New cars typically won’t qualify unless they’re exotic like a Lamborghini.
- Condition. Vehicles should be well-maintained, but some companies will insure during the restoration process.
- Pleasure. Classic and collector cars are expected to not be for daily driving. Some companies have flexibility on this, while others may restrict even errands in the vehicle.
- Secure Storage. Most companies require a locked garage for covered vehicles. The premium may be higher for other accommodations.
- Separate Car. The insurance providers expect you to have another car for daily use.
- Driving Record. A clean driving record is preferred. You should have no major violations for the last three to five years, while some insurers will go back 10 years.
- Experience and Age. Insurance companies require drivers to have five to 10 years of driving experience or be at least 25 years old.
Classic Car Insurance FAQ
How many miles can you drive with classic car insurance?
It depends on the insurance company. Almost none will let you drive the car as your regular use vehicle. But many will let you customize your pleasure miles to your liking, and some are unlimited.
How old does a car have to be to get classic car insurance?
Every insurance company has a different policy. Typically, 10 years is the newest, with antiques starting at 25 years of age.
Who has the best classic car insurance?
Classic car drivers know to pick the right tool for the job. In the same way, you must select the company that has the right mix of features, coverages, and price to insure your one-of-a-kind vehicle.
Where can I compare cheap car insurance quotes online?
The best place to find the cheapest car insurance for your classic or collectible car is a website that collects quotes from the auto insurance companies available in your area. Find a car insurance comparison tool like Insurify to compare up to 10+ real quotes for your combined driver profile and unlock savings and car insurance discounts. Rates can vary based on your driving history and personal profile, but you should be able to find a competitive price. Insurify provides the cheapest car insurance quotes from local companies in just a few minutes.
Conclusion: How to get the best and cheapest car insurance quotes
Getting insurance can be as smooth and easy as a Sunday afternoon cruise.
When you’re ready to get on the road, you can use Insurify to compare the best car insurance rates, coverage options, and companies personalized for your price point. Get free cheap car insurance quotes today on America’s best-rated auto insurance comparison site.