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Licensed property and casualty insurance agent
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Updated
Classic car insurance is a specialized type of coverage that’s designed to safeguard antique and classic vehicles against damage or loss.
The right coverage can help protect your classic vehicle from damage linked to Indiana’s humid summers, frequent thunderstorms, and tornadoes.
If you plan to drive your classic car, even if it’s just to car shows and not as a daily driver, then insurance is required in Indiana.
Classic car insurance is a specialized type of coverage that’s designed to protect classic vehicles against damage or loss.[1] While classic car insurance and a standard auto policy both provide liability coverage, they have some differences.
With a classic car, its value increases over time, while a regular car depreciates. Since a classic car’s value is often more than its original sale price, you and your insurer will have to determine its agreed value, also called “guaranteed value.”
Unlike standard car coverage, a classic car policy may have mileage limits and specific storage requirements. For example, you might need to store your vehicle in a private garage to protect it from Indiana’s winter weather.
Protect your classic car for the right price
To qualify for classic car insurance in Indiana, you’ll need to meet certain eligibility factors. While criteria can vary between insurers, some examples may include:
To qualify for classic car coverage in Indiana, both you and your vehicle might need to meet age requirements. For example, some insurers only cover cars that are 25 years old or older. Drivers are often required to have years of driving experience, and some insurers require drivers to be 25 years or older before obtaining classic car coverage.
If you’re like the nearly 1% of drivers in Indiana who have a driving under the influence (DUI) conviction, you may not be able to get class auto insurance. A clean driving record with no speeding tickets, accidents, or DUIs can help lower your rates and increase your chances of qualifying for classic car coverage.
While you might want to show off your classic car during the warm spring and summer months, you’ll need to store it in a locked garage or storage unit to keep it safe when you’re not using it during Indiana’s cold and wet winter months.
The average monthly cost of insuring a classic car in Indiana is $41 per month for liability coverage and $82 per month for a full-coverage policy, according to Insurify data. This is much cheaper than the cost of standard car insurance in Indiana, which averages $65 per month for liability-only coverage and $128 for full coverage.
Classic car insurance coverage is typically less expensive because of more limited and low-risk use. Standard car insurance in Indiana covers everyday driving, including an average 25-minute commute, and driving in severe weather.
With exposure to winter storms, flooding, and tornadoes, daily drivers are at higher risk for damage and accidents, which can lead to more frequent claims and higher premiums.
Coverage Type  | Average Monthly Cost in IN |
|---|---|
| Classic car insurance | $62 |
| Standard car insurance | $97 |
Protect your classic car and your wallet
Finding insurance for your classic car is an important decision. If you’re trying to find the right coverage for your classic or antique car in Indiana, here are three of the best insurers to look into.
Hagerty tops our list as one of the largest collector car insurers in the U.S., offering coverage for antique and newer collectors. The company has a wide range of coverages, including personalized options like “vehicle under construction coverage” and “cherished salvage coverage,” which allows you to keep your vehicle and receive the agreed value in the event of a covered total loss.
Hagerty supports a strong car culture and hosts a number of classic car events in Indiana with the goal of bringing car lovers together.
Unique coverages designed for classic cars
Agreed-value coverage available
Network of local insurance agents
Drivers must have a regular-use vehicle for daily driving
Limited availability to drivers with serious infractions
Strict storage guidelines
Since 1947, Grundy has specialized in insuring classic cars. It covers most types of vehicles 25 years and older, and also insures modern muscle cars and exotics.
With miles of rural roads in Indiana, Grundy is a good choice for drivers who want less restrictive mileage limitations. Grundy offers unlimited miles for pleasure driving and collector-car activities, rather than strict annual limits. You just can’t use your classic car for daily driving.
Less restrictive mileage policies
Trip-interruption coverage
Agreed-value coverage available
Strict storage guidelines
Must have separate vehicle for daily driving
Available only to drivers 25 years and older
American Collectors Insurance has been protecting classic cars for 50 years. The company offers tailored auto insurance policies for classic and collector cars, trucks, motorcycles, hot-rods, and more.
American Collectors has a wide range of discounts, including a high-value vehicles discount for collector vehicles worth more than $250,000. With exposure to natural disaster risks, like tornadoes, Indiana drivers can take advantage of American Collectors’ disaster relocation coverage. It provides $250 in reimbursement for relocating your vehicle out of harm’s way.
Agreed-value coverage available
Tailored mileage plans
Live customer support
Must have separate vehicle for daily use
Limited availability to drivers with a violation
Strict storage guidelines
Our editorial team analyzed regional and national auto insurance companies that sell policies in Indiana to assess which offer the best rates, coverage options, customer service, and savings to drivers. We prioritized competitive rates, 24/7 customer service, low-mileage discounts or programs, safe driving discounts, homeownership discounts or bundling options, and specialty or supplemental coverages.
When purchasing classic coverage, you’ll work with an agent to determine an agreed value for what your classic car is worth. This differs from a standard policy, which uses a depreciating value model called actual cash value.
With a classic car policy, there might be mileage limitations and requirements for how to store your vehicle. For example, your insurer might require you to store your car in an enclosed and locked private structure, such as your garage or storage unit, to ensure it’s protected from Indiana’s cold winters. A standard policy doesn’t have use restrictions or storage requirements.
If you get in an accident and your vehicle is damaged beyond repair, a classic car policy will typically pay out the agreed value that you set when you purchased coverage, while a standard policy will pay only the vehicle’s actual cash value.
Coverage limits for classic car insurance are based on agreed value, while regular auto insurance limits are based on actual cash value.
Agreed value is the amount you and your insurance agent determine your classic car is worth. For example, if you insure your classic car for an agreed value of $25,000, this is how much you’ll receive if your car is totaled.
With a standard policy, the same vehicle might be valued at only $10,000 based on actual cash value due to depreciation. To determine the agreed value, insurers may require you to submit photographs, car documentation, or an appraisal.
Actual cash value can vary based on factors like location and if there’s a local market; luckily, Indiana has a strong car culture with the Indianapolis 500 and many classic car shows.
Classic auto insurance in Indiana includes many standard car coverages, like collision, comprehensive, and liability. Here are some examples of what classic car insurance can cover:
Hail damage: If your car is damaged in one of Indiana’s spring thunderstorms or hailstorms, comprehensive coverage can help pay for repairs.[2]
Roadside assistance: If your classic vehicle stalls while participating in the “Back to the Fifties” car show in Lebanon, some plans may guarantee roadside assistance like flatbed towing, to prevent damage during transport.
Car show protection: If you plan to attend multiple Indiana classic car shows, consider car show protection to cover medical payments if someone is injured near your car display.
If you plan to drive your classic car, then insurance is required in Indiana. Similar to a standard car insurance policy, Indiana requires drivers to have minimum liability coverage, which includes $25,000 in bodily injury liability per person and $50,000 per accident, as well as $25,000 for property damage liability.
If you’re caught driving without minimum insurance coverage, your license may be suspended.[3]
Save up to $1,100 per year on coverage
Some of the most common risks for classic cars in Indiana include:
Humidity: With humid summers and frequent thunderstorms, your classic car may be at risk of rusting. Storing your vehicle indoors can help mitigate this issue.
Road salt: To prevent ice and snow from building up on the pavement, Indiana’s Department of Transportation uses a salt brine pre-mixture on the roads.[4] Unfortunately, this can be very hard on classic cars, causing rusting and corrosion. Many classic car owners may choose not to drive in the winter to avoid this issue.
Tornadoes: With an average of 22 tornadoes every year, you’ll want to consider comprehensive coverage to protect your classic car from damage due to high winds or flying debris.
Here’s more information to help you find the right classic car coverage in Indiana for your unique vehicle.
Some of the common requirements for obtaining classic car insurance in Indiana typically include the vehicle’s age, limited mileage or restricted use, secure storage, and a clean driving record.
Several insurance companies in Indiana offer high-quality insurance. Three of our top picks for the best insurers for classic cars include Hagerty, Grundy, and American Collectors Insurance.
The average cost of classic car insurance in Indiana is $41 per month for liability coverage and $82 per month for a full-coverage policy. This is cheaper than standard car insurance, which costs an average of $65 per month for liability-only coverage and $128 for full coverage.
Insurify data scientists analyzed more than 190 million quotes served to car insurance applicants in Insurify’s proprietary database to calculate the premium averages displayed on this page. These premiums are real quotes that come directly from Insurify’s 500+ partner insurance companies in all 50 states and Washington, D.C. Quote averages represent the median price for a quote across the given coverage level, driver subset, and geographic area.
Unless otherwise specified, quoted rates reflect the average cost for drivers between 20 and 70 years old with a clean driving record and average or better credit (a credit score of 600 or higher).
Liability-only premium averages correspond to policies with the following coverage limits:
Quotes for Allstate, Farmers, GEICO, State Farm, and USAA are estimates based on Quadrant Information Services’ database of auto insurance rates.
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7+ years in personal finance writing
Certified Financial Education Instructor
Licensed auto and home insurance agent
4+ years experience in insurance and personal finance editing
NPN: 20564519
Featured in
Licensed property and casualty insurance agent
10+ years editing experience
NPN: 20461358
Featured in
At Insurify, our goal is to help customers compare insurance products and find the best policy for them. We strive to provide open, honest, and unbiased information about the insurance products and services we review. Our hard-working team of data analysts, insurance experts, insurance agents, editors and writers, has put in thousands of hours of research to create the content found on our site.
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