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It’s a bright summer Sunday, and you can’t wait to take your vintage convertible out for a joyride. But before you head for the garage, make sure you have a classic car insurance policy that keeps your precious investment safe.
Classic car insurance is just like any insurance policy — before you buy, you have to compare all the quotes and policies you can. Sound like a pain? Let Insurify do the work for you, comparing car insurance quotes from all the best companies in the industry. It only takes a few minutes, and it’s totally free.
The cheapest insurer we found for owners of classic cars is Farmers, with average monthly premiums of $104.
Owners of classic cars see the lowest insurance rates in Hawaii and North Dakota.
Classic cars come with certain insurance specifications and driver requirements, which makes them a bit more complex to insure than other cars.
Cheapest Car Insurance Companies for Classic Cars
Here are the lowest quotes that Insurify’s data team could find on classic car insurance policies. You’ll see a mix of speciality insurance providers and regular auto insurance companies. You never know which will have the best policy waiting for you.
|Insurance Company||Monthly Quote for Classic Cars|
How much does car insurance cost for classic cars?
How much does classic car insurance cost?
The cost of insurance for classic cars will vary based on the car's actual cash value and the insurance company. However, you can almost always expect insurance costs for classic cars to exceed the insurance costs for more standard cars.
Your classic car insurance premium will depend on the actual cash value of your car and/or the agreed value that you reach with your insurance provider. Classic vehicles don’t have standardized valuations, which makes insurance pricing trickier. But as with any insurance policy, the more expensive your vehicle, the higher your insurance premium.
Farmers Insurance goes out of its way to provide insurance policies for classic cars, vintage cars, street rods, and the rest. While many insurance carriers are laser-focused on eligibility and exclusions, Farmers emphasizes mobility and flexibility, with exceptions to help you take your car on parades and shows abroad and enjoy protection while you’re not attending to your car.
Additional coverages like spare parts coverage and towing/roadside assistance are available with Farmers. It also advertises a multi-policy discount if you insure more than one collectible car. The company has an esteemed mobile app and great customer service ratings.
With partnerships with leading insurance giants like Allstate, Progressive, and Nationwide, Hagerty provides top-of-the-line classic car insurance to cars between 25 and 50 years old. You’ll have lots of flexibility to customize your insurance policy to suit your classic vehicle. Together, you’ll reach an agreed value for your car that you’ll receive in the event of a total loss.
With a Hagerty classic car insurance policy, there’s no mileage limit. So you can drive as long as you need to get to car shows, the drivers club, wherever — so long as your collectible car isn’t your daily driver. And watch your driving record: speeding tickets and alcohol-related offenses will disqualify you from getting classic car insurance with Hagerty.
State Farm is a massive insurance company that offers insurance policies to antique cars older than 25 years and collectible cars with a historic interest older than 10 years, such as muscle cars and hot rods. Its policies have the option of roadside assistance and towing, which never hurts — and if you want to get your premium down, higher deductibles are available.
When you buy classic auto insurance from State Farm, you’ll come together to agree on the car’s value. Homeowners can benefit from bundling, and if State Farm is your insurance agency for your regular auto insurance, you could get savings for having multiple cars on your policy.
American Modern (GEICO)
Another powerful partnership, American Modern works with GEICO to combine the expert service and highly rated financial backing to make a convincing classic car insurance option. You won’t suffer a high deductible, and you won’t need to go through an appraisal. The policy applies to replicas, exotic cars, retired military vehicles, and antique cars older than 25 years.
Another key perk with American Modern coverage: depreciation won’t factor into your car’s agreed value. The stipulations are that the car must be stored in an enclosed and locked area, and you’ll have to stick to occasional pleasure and the odd car show and exhibition. Altogether, it’s a premier choice for your classic car insurance coverage.
With USAA underwriting American Collectors’ policies, you’ve got a trustworthy company that specializes in collector car insurance ready to provide you specialty auto insurance for your motorcycle, hot rod, classic car, collector vehicle, or whatever you need elite protection for.
As usual, the exclusions: race cars need not apply; they have to be retired. You also can’t take your classic car on your commute or on business or errands; pleasure driving only, and even then, on a limited basis. But if these eligibility requirements work for you, American Collectors has a collaborative process for designing your auto insurance policy.
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Cheapest States for Car Insurance for Classic Cars
Classic car insurance is priced differently in each state. Some are more expensive than others because insurance companies take a number of factors into account. According to Insurify, these states have the cheapest car insurance quotes for classic cars.
|State||Monthly Quote for Classic Cars|
Classic and Collector Car Insurance vs. Regular Car Insurance
Because there’s a whole lot of money on the line when you’re underwriting a collectible car, insurance companies have a number of rules and exclusions that make it totally different from a standard auto policy. Here are some of the ins and outs:
Classic Car Specifications
To receive classic car insurance, your vehicle often has to be at least 25 years old. If it’s newer, it must have some kind of special status/limited production that makes it a rarity or historical curiosity. You are often limited by how often you can drive them — a 7,500-mile-per-year limit is standard — and they must be stored in a carport or otherwise locked and enclosed.
One standard exclusion: you can’t take your insured classic cars on a race track. Bummer! And you can’t treat your antique car like you would a regular-use vehicle. Normally, you have to prove you’re the owner of some other normal vehicle with a standard auto policy. Classic car insurance companies will insure types of vehicles that might surprise you, like antique tractors.
Classic car insurance companies want to know that whoever is driving this high-value vehicle is responsible and has a clean driving record. Usually, you’ll also need a co-signer, have to be older than 25, and have driven for at least 5 or 10 years.
With regular auto insurance, if you have a bad driving record, you’ll pay a high premium. But when it comes to insurance for classic cars, you’ll have a hard time finding an insurance provider to underwrite your classic vehicle. So watch those speeding tickets!
The Best Car Insurance Quotes for Classic Cars
Classic car insurance requires a bit more finesse than your standard auto insurance policy. But one part of the process never changes–the paramount importance of comparison-shopping.
Insurify can help you compare quotes from companies selling collector car insurance, homeowners, regular auto insurance, and more—fast and for free. When you’ve got that insurance company that sees you for you, life is that much easier, and more money stays in your pocket.
Frequently Asked Questions
How much is car insurance for a classic car per month?
Regular auto insurance is more standardized than classic car insurance because most cars have a “book value” that generalizes their price. Since your specialty auto is rare, however, your classic car insurance will be priced according to your car’s value, which might be up for negotiation between you and the insurance provider.
How can I save on classic car insurance?
As with lots of car insurance, opting for a higher deductible will lower your premium if you can afford it. Since a number of larger insurance agencies offer classic car insurance, you can save money by working with them and bundling with your homeowners insurance coverage and/or your regular auto insurance policy.
Where can I compare cheap car insurance quotes online?
Finding the best auto insurance depends on finding the best insurance company to work with. And the best way to find that company is with Insurify’s car insurance quote comparison service. In only a few minutes, you can access personalized quotes from the top insurance providers in the industry.
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Data scientists at Insurify analyzed more than 40 million real-time auto insurance rates from our partner providers across the United States to compile the car insurance quotes, statistics, and data visualizations displayed on this page. The car insurance data includes coverage analysis and details on drivers' vehicles, driving records, and demographic information. Quotes for Allstate, Farmers, GEICO, State Farm, and USAA are estimates based on Quadrant Information Service's database of auto insurance rates. With these insights, Insurify is able to offer drivers insight into how companies price their car insurance premiums.