Choosing Insurance for a Classic Car

If you own a classic car, like a 1965 Ford Mustang or 1955 Chevrolet Cameo, you’ll probably need special insurance coverage on your vehicle. Unfortunately, standard auto insurance policies aren’t specific enough to cover your classic car, regardless of what happens.

Classic car insurance isn’t always limited to old, vintage vehicles. Each auto insurance company has different qualifications for a classic vehicle, and each may offer different coverages than others.

Most classic or collector car insurance policies include collision insurance, roadside assistance, parts coverage, and spare parts. Depending on what you use your classic vehicle for, you may find that a simple classic car insurance policy is all you need. Still, you may want to consider additional coverage just in case.

What qualifies as a classic car?

It can be tricky to define a classic car. Some companies have radically different standards from others. Still, the general idea of a classic car tends to be the same among classic car owners and enthusiasts.

The Classic Car Club of America (CCCA) defines a classic car as a vehicle manufactured from 1915 to 1948. However, this definition can be extremely limiting for certain individuals and scenarios.

Some people consider a classic car the same as a vintage, antique, or collector vehicle. Still, others maintain a classic car is any vehicle older than 20 years, regardless of make, model, or condition.

Most car insurance companies don’t abide by the CCCA definition of a classic car. Instead, definitions of classic cars vary from one company to the next. For example, State Farm classic car insurance and USAA classic car insurance may differ in their definitions of a classic car.

What does State Farm consider a classic car?

State Farm requirements for classic car insurance say a classic car is any vehicle 10 or more years old and is a rarity regarding historic interest. According to State Farm, classic automobile hobbyists must have restored, maintained, or preserved this vehicle.

State Farm also offers clear definitions for an antique vehicle. This type of car must be 25 years or older and have been restored, maintained, or preserved by antique automobile hobbyists. 

What does The Hartford consider a classic car?

As a point of comparison, The Hartford offers a different definition for a classic car. According to The Hartford, a classic car is at least 10 years old and can be used regularly. Also, the classic vehicle must be valued significantly higher than other similar makes and models.

With The Hartford, an antique vehicle is more than 25 years old and used primarily for shows, club activities, parades, and similar functions. Antique vehicles rarely get used for any other purposes.

Is a classic car the same as a show car?

With many companies, you’ll find that show car insurance is the same as collector car insurance. But other companies may have different categories for each specific type of vehicle. Hagerty and other companies may use additional terms, like “modern classics” and “future classics,” when referring to classic cars of different ages.

As you shop for classic car insurance coverage, research any company you’re considering to learn its requirements for a classic car. As you do, you’ll have a better understanding of which companies may offer the best classic car coverage to meet your needs.

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What types of cars have coverage under classic car insurance?

Classic car insurance often covers the following types of automobiles:

• Antique cars
• Classic cars
• Classic military vehicles
• Classic tractors
• Custom cars
• Exotic cars
• Kit cars and replicas
• Military vehicles
• Modified vehicles (often including hot rods, tuners, and lowriders)
• Motorcycles 
• Scooters
• Muscle cars
• Race cars
• Vehicles in the process of restoration
• Retired commercial vehicles, such as fire trucks
• Specific makes and models of trucks
• 1980 and newer collector vehicles

Again, you’ll have to check with any company you’re considering to learn whether it will cover your vehicle under a classic car insurance policy.

Are certain types of cars excluded from the classic car category?

A vehicle’s age is a major indicator of whether it’s a classic vehicle. If you drive a fairly new car, your car is likely not classic. Similarly, if you drive a prevalent car, like a Honda Accord, your vehicle likely isn’t a classic.

Another indication your vehicle isn’t a classic car is if it’s used regularly for daily activities. Most classic car insurance policies require limited use of the vehicle. So, if you drive your car most days or use it to run most of your errands, your vehicle may not qualify for a classic car insurance policy.

The most common reasons a car isn’t a classic include:

• You use your vehicle daily.
• Your vehicle is an off-road or recreational vehicle.
• You used your vehicle for commercial business.

Allstate classic car insurance, along with other companies, may require that you have a separate vehicle for daily use to purchase a classic car insurance policy. When you shop and compare options, you can ask whether your vehicle is considered a classic and can be covered.

Which companies offer classic car insurance?

As stated above, many different insurance companies offer classic car insurance. Some of the most common providers include:

• Allstate
• American Family
• American Modern
• Chubb
• Erie
• Farmers
• Geico
• Grundy
• Hagerty
• The Hartford
• Liberty Mutual
• Progressive
• State Farm
• USAA

If you have an insurance policy with any of these companies, you can purchase a classic car insurance policy at a discounted rate. Bundling your insurance policies could also save you a specific percentage of your rates.

What does classic car insurance cover?

Classic car insurance policies offer various coverage options. Some policies are more robust, while others are simpler. Many companies also allow policyholders to purchase add-ons for additional protection.

Some of the most common car insurance coverage options in a classic car policy include

• Liability insurance. Liability coverage pays for damage or injuries you cause to other people or vehicles.
• Collision insurance. Collision coverage pays for your vehicle repairs if the damage results from an accident. Collision insurance would cover you even if you were at fault in an accident.
• Comprehensive insurance. Comprehensive insurance pays for repairs to your vehicle caused by something other than an accident, like inclement weather or wild animals.
• Uninsured motorist coverage. With uninsured/underinsured motorist coverage, your insurance company covers vehicle repairs and medical costs for you if you get hit by someone without proper auto insurance.

While some classic car insurance policies may include all coverages listed above, many may only have comprehensive coverage. However, most classic car insurance policies should meet your needs regarding your vintage or classic vehicle.

Some of the common add-ons for classic car insurance include:

• Cherished salvage coverage. If a covered event totals your classic vehicle, you can keep your salvage title and get a payout from your insurance company.
• Spare parts coverage. This coverage pays for spare parts and specific tools to repair your classic vehicle.
• Vehicle under construction coverage. This coverage helps if you’re ever repairing your vehicle. During repairs, your coverage increases to match the restoration work.
• Disabled vehicle coverage. This coverage often resembles a roadside assistance plan, providing towing or fuel delivery. Disabled vehicle coverage may also include other coverages like trip interruption, lodging, and meals.
• Automobilia coverage. Automobilia coverage pays for things like hood ornaments, vintage license plates, and other collectible items.

You’ll find that many different companies offer a version of classic car insurance. Study each option to learn whether it’ll work for you.

Classic Car Insurance Coverage by Company

Classic Car Insurance Company	Annual Mileage	Classic Vehicle Age Requirements	Spare Parts Coverage	Inflation Guard
American Collectors	Unlimited	None	$500	6%
Grundy	Unlimited	25 years or older	$600	4%
Hagerty	Unlimited	10 years or older	$750	4%
J.C.Taylor	Unlimited	19 years or older	$250	4%
State Farm	2,500	10 years or older	$500	4%
Get Your Rates Quote Now					#blank#	#blank#	#blank#	#blank#

If you’re seriously considering a specific company for classic car insurance, speak with a representative from that company. Ask specific questions and see how much you’ll pay for coverage with your classic car.

Can I get roadside assistance for my classic car?

You can get roadside assistance for your classic car. Whether it’s disabled vehicle coverage or roadside assistance, this coverage could be extremely helpful if you ever find yourself in a sticky situation.

Roadside assistance can help with tows, fuel services, oil delivery, flat tire repair, lockout services, and more. In addition, plenty of insurance companies offer roadside assistance coverage to policyholders, like AAA and Hagerty.

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Which classic cars gain the most value?

All vehicles depreciate at different rates, and the reverse is true for classic vehicles. Some classic cars don’t become much more valuable over time, while others gain significant value fairly quickly.

Some vehicles that are likely to become much more valuable include:

• 1965-70 Cadillac DeVille ($28,800 excellent condition starting price)
• 1969-74 Ferrari 246 Dino ($365,800)
• 1983-97 Land Rover Defender ($61,400)
• 1979-85 Mazda RX-7 ($17,600)
• 1963-67 Mercedes-Benz 230SL ($80,500)
• 1966-67 Pontiac GTO ($100,200)
• 1992-95 Porsche 968 ($38,000)
• 1985-95 Suzuki Samurai ($10,200)
• 2008-12 Tesla Roadster Sport ($97,100)
• 1975-93 Volvo 245 ($15,800)

If you own one of the cars listed above, you should purchase classic car insurance to maintain protection in virtually any scenario. Most classic car insurance reviews suggest you read the fine print of any policy before committing.

Classic Car Insurance: The Bottom Line

Insurance companies that insure older cars are fairly common. Depending on where you live, you could find several companies that could work for you. Still, comparing quotes from any company you’re considering is important to ensure you won’t pay too much in monthly or annual rates.

If you purchase a classic car in the future, speak with an insurance specialist to learn more about your coverage options. Don’t forget to compare quotes from multiple companies at least once a year to ensure you have the most affordable rates.

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