Best Classic Car Insurance [2023]
Classic car insurance policies are often more affordable, as classic cars aren't driven as often as regular vehicles. However, if you have a more valuable classic car, like a 1962 Ferrari GTO or an Aston Martin DBR1, rates will be higher, so it is important to compare classic car insurance rates.
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Brandon Frady
Licensed Insurance Agent
Brandon Frady has been a licensed insurance agent and insurance office manager since 2018. He has experience in ventures from retail to finance, working positions from cashier to management, but it wasn’t until Brandon started working in the insurance industry that he truly felt at home in his career. In his day-to-day interactions, he aims to live out his business philosophy in how he treats hi...
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UPDATED: Dec 4, 2023
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Advertiser Disclosure: We strive to help you make confident car insurance decisions. Comparison shopping should be easy. We are not affiliated with any one car insurance company and cannot guarantee quotes from any single company.
Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from top car companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Dec 4, 2023
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident car insurance decisions. Comparison shopping should be easy. We are not affiliated with any one car insurance company and cannot guarantee quotes from any single company.
Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from top car companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- Collector and classic car insurance is ideal for unique classic cars because it uses an “agreed value” model that takes into consideration the cost of replacement parts and the value of the vehicle to collectors.
- Vehicles must be at least 10 years old to be considered classic cars
- Compare collector and classic car insurance companies to find the best insurance plan for your unique classic car.
How much is classic auto insurance?
The amount you’ll pay for collector car insurance varies based on several factors. Some classic car collectors only need a comprehensive car insurance policy to protect a vehicle from non-collision or weather-related damages. Classic car owners that occasionally drive their cars need collision car insurance coverage. The table below shows the average annual rates for classic car insurance based on state and coverage type.
State Full Coverage Annual Rates Comprehensive Annual Rates Collision Annual Rates Liability Annual Rates
Alabama $521.09 $93.79 $190.78 $236.53
Alaska $616.65 $82.36 $210.49 $323.81
Arizona $583.71 $111.67 $166.78 $305.26
Arkansas $543.80 $114.25 $193.08 $236.48
California $592.05 $60.32 $237.93 $293.80
Colorado $588.98 $104.77 $172.20 $312.02
Connecticut $690.64 $78.97 $221.11 $390.56
Delaware $744.34 $73.49 $191.26 $479.58
District of Columbia $798.44 $139.94 $281.20 $377.29
Florida $754.28 $69.92 $169.78 $514.58
Georgia $629.04 $95.51 $199.10 $334.43
Hawaii $523.97 $60.94 $187.90 $275.12
Idaho $407.93 $69.93 $131.43 $206.57
Illinois $530.74 $76.88 $185.83 $268.03
Indiana $453.02 $73.24 $150.17 $229.61
Iowa $421.48 $110.12 $131.85 $179.51
Kansas $517.76 $144.82 $158 $214.94
Kentucky $563.11 $84.83 $160.75 $317.53
Louisiana $843.22 $129.10 $248.62 $465.50
Maine $422.29 $62.99 $155.99 $203.32
Maryland $669.87 $91.63 $212.39 $365.84
Massachusetts $677.57 $80.98 $232.97 $363.62
Michigan $818.40 $92.91 $248.30 $477.19
Minnesota $525.29 $110.56 $140.64 $274.09
Mississippi $596.43 $126.20 $193.93 $276.30
Missouri $523.46 $108.76 $165.17 $249.53
Montana $518.11 $127.15 $159.19 $231.77
Nebraska $498.61 $137.55 $142.28 $218.78
Nevada $661.83 $70.58 $182.32 $408.94
New Hampshire $491.25 $66.46 $184.45 $240.34
New Jersey $829.67 $78.81 $229.12 $521.74
New Mexico $562.55 $103.54 $166.19 $292.82
New York $816.40 $102.67 $231.01 $482.71
North Carolina $473.45 $81.65 $176.15 $215.65
North Dakota $463.98 $138.62 $146.45 $178.91
Ohio $473.14 $72.97 $161.90 $238.27
Oklahoma $603.19 $135.50 $191.08 $276.61
Oregon $542.90 $56.32 $136.10 $350.48
Pennsylvania $582.31 $86.53 $196.34 $299.44
Rhode Island $782.10 $79.31 $246.91 $455.88
South Carolina $583.86 $108.56 $159.04 $316.25
South Dakota $460.15 $154.87 $125.15 $180.13
Tennessee $522.86 $89.07 $185.44 $248.35
Texas $665.80 $123.85 $224.69 $317.25
Utah $523.76 $65.70 $159.54 $298.52
Vermont $458.41 $75.29 $177.25 $205.87
Virginia $505.60 $81.92 $168.31 $255.37
Washington $581.28 $63.83 $159.44 $358
West Virginia $615.47 $122.57 $197.80 $295.10
Wisconsin $442.31 $82.09 $135.60 $224.62
Wyoming $508.46 $148.54 $167.30 $192.62
Countrywide $605.63 $88.82 $193.57 $323.24
As you can see, it can cost nearly $1,000 per year to purchase coverage for your classic car, depending on where you live and whether you need a full coverage policy. In many cases, insuring unique specialty and classic cars is less expensive than purchasing insurance for a modern vehicle. With standard car insurance, rates tend to be lower because the depreciated value of an older car means insurance companies only have to pay out a few thousand if the vehicle is a total loss. And with car insurance for classic and collector cars, insurance companies will often offer affordable rates since a car that’s mostly kept in storage is seen as a very low risk.
With the above in mind, the total cost of car insurance for classic cars will depend on how much coverage you want and how often you want to be able to actually take your car out for a drive. Whatever your needs as a classic car owner, there’s a coverage plan that’s right for you.
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What is classic car insurance?
There are many differences between classic car insurance and standard car insurance. Classic auto insurance is a type of specialty insurance coverage for vehicles at least 10 years old. Most classic cars are more than 20 years old and have a historical significance which increases their value. A collector or classic auto insurance policy can cover:
- Antique vehicles
- Exotic vehicles
- High-performance vehicles
- Exhibitionist vehicles (used for car shows rather than driving)
Many auto insurance companies offer classic car insurance, but companies often have strict guidelines for coverage. For example, many collector auto insurance companies will only provide coverage if the owner stores the vehicle in a locked garage. Classic car insurance without a garage is harder to find. Learn more: Compare Garageless Classic Car Insurance: Rates, Discounts, & Requirements
Who needs classic car insurance?
Most people don’t need a classic auto insurance policy. However, people who collect classic and antique cars to drive, show, or enjoy should purchase this coverage. Many companies will not consider offering classic auto insurance until a car is 20 – 25 years old. Additionally, companies will sometimes require a vehicle to have historical significance before covering it with a classic auto policy. Many insurance companies will not cover a vehicle with a classic insurance policy if the vehicle owner drives it for everyday use. Classic cars are traditionally kept in storage the majority of the time.
What does a classic auto insurance policy cover?
As you noticed in the table above, classic car insurance policies can include liability, comprehensive, and collision coverage options. Many classic auto insurance companies also include the following coverage options:
- Uninsured or underinsured motorist coverage
- Cherished salvage coverage
- Medical payments
- Personal injury protection
- Spare parts coverage
- Disabled vehicle coverage
- Memorabilia coverage
- Restoration work coverage
- Roadside assistance
The coverage type you need on your collector or classic car depends on how much you drive it, whether it needs restoration or other work, and how often you take it to car shows and other exhibitionist events.
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How do I find the best insurance for unique classic cars?
Finding the best car insurance for your unique classic car is a lot like finding the best coverage for any other vehicle. Here are some tips to get you started:
- Come up with a list of car insurance companies that can insure your car. The companies listed earlier in this guide could serve as a great starting point.
- Make a note of what you’re looking for in terms of costs, coverage, and restrictions you can accept. For example, if you store your car in a secure garage, remind yourself to bring this up with insurance agents.
- Use an online quote tool to compare rates and get an idea of your options.
- Contact car insurance companies directly and talk to them about your vehicle and coverage needs.
- Contact car insurance companies directly to see if they offer any perks or discounts based on your vehicle, driving record, or personal background (student, military, senior, etc.)
What are the best classic car insurance companies?
Although you may be able to insure your unique classic car with a standard car insurance policy, this isn’t your best option unless you use the vehicle for daily tasks. If your collector car has any sort of value to you as a collector’s item, you’re better off looking for coverage from an insurance company that’s specifically intended for car collectors and classic car owners.
Here are some of the top car insurance companies for unique classic cars:
- Grundy Classic Car Insurance: With no age limit on the vehicles they insure, Grundy Classic Car Insurance offers classic car owners the benefit of an agreed value policy, meaning car owners are guaranteed to receive the full payment amount agreed upon if their vehicle is damaged.
- American Collectors Insurance: This insurance company offers a variety of discounts for classic car owners who meet certain qualifications, including having multiple vehicles or secure storage for their car. American Collectors has a wide range of coverage options, so it’s easy for classic car owners to find the right policy.
- J.C. Taylor Insurance: Covering classic cars 19 years old or older for car owners over 25 with a clean driving record, J.C. Taylor offers an agreed value policy for vehicles that are kept in secure storage.
- Hagerty Classic Car Insurance: Creator of the Hagerty Collector Network and Hagerty Price Guide, this insurance company is ideal for insuring classic cars that are actively being restored.
- American Modern Insurance: Offering agreed value policies, American Modern offers a variety of discounts and coverage options, including up to $750 of pet coverage in case your pet is injured when you take them along for the ride.
- State Farm Classic Car Insurance: A great choice if you’re an existing State Farm customer, the company’s Classic insurance will cover cars over ten years old that have “special historical interest.”
- Safeco Classic Car Insurance: Your best option if you plan to drive your classic car regularly, Safeco Classic covers up to 10,000 annual miles. The only downside is more limited coverage options compared to other insurance companies listed here.
The best way to decide on a classic car insurance policy is to compare quotes from the best car insurance companies for classic cars. Then, you can call the companies directly to speak to a representative or visit each company’s website to get an online quote. Adding coverage for your classic auto insurance policy will cause rates to increase. However, if you want to protect your collector vehicle, purchasing an expensive policy may be worth it.
Which collector cars are the most valuable?
While all classic automobiles have their charm, some classic vehicles carry more value than others. Some of the most valuable collector cars include:
- 1962 Ferrari GTO
- 1957 Ferrari 335 S Spider
- 1954 Mercedes-Benz W196
- 1956 Ferrari 290 MM
- Aston Martin DBR1
- 1935 Duesenberg SSJ
If you have a valuable classic car like the ones above, you will pay more for coverage since your vehicle is worth more money. Read more: Compare Aston Martin Car Insurance Rates
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Classic Auto Insurance: The Bottom Line
Whether you occasionally drive your classic car around town or exclusively take it to car shows, you should ensure you have a classic auto policy for your collector car. There are plenty of auto insurance companies offering classic car coverage. First, research local companies providing the coverage you want. Then, compare quotes to see who offers the best price for coverage.
Frequently Asked Questions
What is Classic Car Insurance?
Classic car insurance is a specialized type of insurance designed specifically for vintage, antique, and collector cars. It provides coverage tailored to the unique needs of classic cars, which may include agreed value coverage, limited mileage options, and coverage for spare parts or restoration expenses.
How is classic car insurance different from regular car insurance?
Classic car insurance differs from regular car insurance in several ways. Unlike regular car insurance that typically values a vehicle based on its actual cash value (ACV), classic car insurance often provides agreed value coverage. This means that in the event of a covered total loss, the insurer will pay the agreed-upon value stated in the policy, considering the car’s rarity, condition, and other factors. Classic car insurance may also have mileage restrictions and specific storage requirements.
Can any car be insured as a classic car?
Not every car can be insured as a classic car. Insurance companies typically have specific criteria to define what qualifies as a classic car. Generally, a classic car is considered to be a vehicle that is over a certain age (often 20 to 25 years old), in good condition, and maintains its original or restored features. It’s best to consult with insurance providers to determine if your car meets the criteria for classic car insurance.
Are classic cars more expensive to insure than regular cars?
The cost of insuring a classic car can vary depending on several factors, including the car’s value, age, condition, usage, and the coverage options selected. While classic car insurance may have certain restrictions and requirements, such as limited mileage, proper storage, and membership in a recognized car club, the premiums can sometimes be lower than insuring a regular car because classic cars are often driven less frequently and are typically well-maintained.
Can I use my classic car for everyday driving?
Classic car insurance typically imposes restrictions on the usage of the vehicle. Most policies require that the classic car is used for occasional pleasure driving, exhibitions, club activities, and similar purposes rather than regular daily commuting or commercial use. The mileage restrictions may vary among insurance providers, so it’s important to understand the specific limitations stated in your policy.
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Brandon Frady
Licensed Insurance Agent
Brandon Frady has been a licensed insurance agent and insurance office manager since 2018. He has experience in ventures from retail to finance, working positions from cashier to management, but it wasn’t until Brandon started working in the insurance industry that he truly felt at home in his career. In his day-to-day interactions, he aims to live out his business philosophy in how he treats hi...
Licensed Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.