Car Insurance for Classic Vehicles

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Joel Ohman
Founder, CFP®

UPDATED: Mar 5, 2020

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Here's what you need to know...
  • If you have an antique car, you need coverage specific to the make and model
  • You should have your car appraised to find what it’s worth before choosing an insurance plan
  • Compare multiple quotes before choosing an insurance carrier

Owning an antique car is prestigious; however, before going out on the road with it, make sure the car insurance is in order.

It is a total waste of money to purchase ordinary car insurance for classic cars.

Many insurance providers offer a special type of insurance for classic cars. Make sure you thoroughly understand everything about this insurance before applying for it. Insurance companies have experts to find the best policy suited for vintage cars.

Enter your ZIP code and compare classic car insurance quotes from multiple companies today!

Search for Quotes


Without much effort, it is now possible to find the absolute best quotes on classic car insurance; there are several online options for applicants.

This website provides insurance quotes from hundreds of insurance companies. Once an applicant enters the relevant information, he is presented with a number of highly accurate quotes.

These quotes can then be saved for further research.

The information that is entered in the prescribed fields should be honest, or you won’t get an accurate quote.

Some of the information that one must supply to apply for online quotes are:

  • Age, make and model of the car
  • Category of classic cars this particular car belongs to
  • Accurate personal information
  • Driving History
  • Occupation
  • Type of use
  • Claim history

The No Claim Discount is very important; it signifies the number of years the applicant has held the policy without filing a claim or having a claim filed against him.

This information is very important to get an accurate quote. Without this information, the company will not be able to generate an accurate premium.

Free Car Insurance Comparison

Compare quotes from the top car insurance companies and save!

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Call for FREE quotes: (855) 425-8122

In spite of all this, the quotes that one acquires from different insurance companies may vary greatly.

These changes depend upon the different statistics followed by different companies. They also employ different methods to calculate premiums.

In addition, there are some companies that specialize in certain types of cars. So, try to identify the company that specializes in the make of the car that is being applied for.

You may even be able to get a discount.

Consider Modifications

Car repair close up.

There are companies that recognize the modifications done to a car and they will work out the premium according to those modifications.

Insuring modified cars is more costly because there is the general idea that people who modify their cars are either reckless or dangerously fast drivers.

Some people modify their vintage cars so they last longer, drive better, and have some modern security features. People totally devoted to their vintage cars will go to any lengths to protect their car.

Seek Appraisals

Appraising the classic car before deciding on insurance is very important.

It helps you understand the true value of the vehicle when compared to other vehicles in the same category. It’s also equally mandatory that the applicant does it with the help of a trained professional.

Check out the resume of the professional before enlisting his service and make sure that he is knowledgeable of the different makes and models of classic cars.

A car cannot be insured unless its make, model, style and color are properly appraised.

The Vehicle Identification Number or the VIN is also noted because that is a major factor in proving the authentic value of the vehicle. The following are the actions of an appraiser when he gets a classic car on his territory.

The appraiser will:

  • Consider the true condition of the vehicle by giving it a thorough once over
  • Examine the interiors, drive it and observe the functioning of the vehicle
  • Document all the features noted
  • Take photographs to accompany the report

Once the appraisal is completed, he will then add to his report information and photos regarding similar vehicles in the market to compare the prices.

He usually gauges this information from a variety of sales and marketing journals and auction reports.

This appraisal is very important because it decides the coverage the applicant will probably have to take. It will be a good idea to get hold of an agency that specializes on a particular classic car because they are likely to understand the applicant’s needs.

Car Insurance for Classic or Antique Cars

Car Insurance for Antique Cars

There are hundreds of insurance companies out there and they all have their own definitions for antique cars.

A car is called classic when the vehicle is 15 to 30 years old. The car should be in good, usable condition, and it should not be used as a primary or commercial vehicle. There are three types of insurance for classic cars:

  • Actual Cash Value (ACV) – After the car is appraised, it is then insured at the appraisal value, which decreases as the years pass
  • Agreed Value (AV) – This is recommended by most insurance providers. The car is insured, and the amount is calculated and decided on while purchasing the vehicle
  • Stated Value (SV) – The insurer has to pay for the stated value of the vehicle, which is normally lower than the ACV

Obviously, when it comes to car insurance, classic car owners have needs beyond a standard policy. Use the free rate tool provided to assess the cost and benefits of several policies.

Enter your ZIP code to compare classic car insurance quotes from multiple companies now!

Free Car Insurance Comparison

Compare quotes from the top car insurance companies and save!

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