CLASSIC CAR INSURANCE: How It Works & Best Providers

Classic Car Insurance
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Classic cars are more than just vehicles; they are timeless treasures that capture the spirit of a bygone era. Although not everyone will treasure these babies, they evoke a sense of nostalgia and admiration, and for the owner, a sense of pride. Whether it’s a meticulously restored vintage Mustang, a sleek Porsche 911, or a charming VW Beetle, classic cars are treasured works of art. However, owning a classic car comes with its own set of challenges, including the need for insurance. Today, our mission is simply to explain what classic car insurance is, how it works, and some of its top providers. This is because we know just how much it means to you and want your classic treasure in safe hands.

How It Works

Classic car insurance provides coverage for vintage, antique, or classic cars. It has specific eligibility requirements, including the age of the vehicle, limited annual mileage, and well-being. Classic car insurance offers “agreed value” coverage, where you and the insurer agree on the car’s value, often higher than its market value. It’s more affordable than standard auto insurance due to its limited use and lower risk. Generally, these cars may need to be stored in a secure location with usage restrictions. Once you buy policy coverage for your classic car, periodic appraisals or inspections may be required to maintain the agreed-upon value. Therefore, working with an agent specializing in classic car insurance is recommended for personalized coverage.

Are Classic Cars Expensive to Insure?

Of course not. The cost of classic car insurance is lower in comparison to standard car insurance. Based on the findings of the Baily Insurance Agency, it has been determined that the annual premium for a classic car policy ranges from $200 to $600. If your classic car is exceptionally costly, your insurance premiums will likely be higher. On the contrary, conventional automobile insurance typically incurs an annual expense above $1000.

Best Classic Car Insurance

The following are some of the best classic car insurance companies in the United States:

#1. Heacock Classic

Heacock Classic offers comprehensive spare parts coverage and a diverse range of coverage choices. This includes vehicles undergoing restoration as well as race cars. This classic car insurance is accessible in 48 states as well as Washington, D.C. Unfortunately, Heacock is limited to regions outside of Alaska and Hawaii.

#2. American Collectors 

American Collectors is a highly regarded insurance solution that specifically caters to a diverse range of collectors and collector items. This includes agreed-value auto insurance that is specifically made to meet the unique needs of collector vehicles, classic cars, vintage automobiles, antique trucks, and even timeless classic motorcycles.

American Collectors Insurance has been offering comprehensive classic car insurance coverage since 1976, ensuring a sense of security for individuals who collect classic cars and have a passion for antique vehicles. The insurance professionals are available to customize coverage that caters to the specific requirements of your valuable collector vehicle, antique car, or rare items.

In the course of using your classic car, your car may suddenly become inoperable and necessitate the use of towing or roadside assistance services. American Collectors will not only provide coverage for these expenses but also for any unforeseen expenses that may arise. If you’re traveling to a vintage automobile exhibition, the insurance provider may extend coverage to include expenses related to lodging or legal bail. Classic Collectors has also been recognized with an honorable mention by classic automobile enthusiasts. American Collectors provides a diverse range of mileage plans and a substantial selection of coverage options. This includes protection for race cars during periods of storage, transportation by trailer, and while situated in a paddock or display area. It is possible to acquire online quotations for historic car insurance.

#3. Hagerty

Hagerty provides insurance coverage for distinctive items, such as vintage gas pumps or license plates of historical significance. Its policy includes the provision of rental services for your vintage automobile if you opt to allow others to use it. Unfortunately, Hagerty insurance does not provide coverage for vintage cars that are used as primary means of transportation. 

The company has established affiliations with other conventional automobile insurance providers, delivering satisfactory coverage options and notable provisions for evacuation expenses. In addition, the convenience of obtaining an online quotation for historic automobile insurance with Hagerty is a notable advantage. Hagerty additionally provides a convenient method for augmenting the insured worth of one’s vehicle during restoration processes. The value of the car will be incrementally elevated by 10% per quarter, with a maximum annual increase capped at $25,000.

#4. American Modern

Next on our list of classic car insurance is American Modern. American Modern is a prominent provider of historic automobile insurance in the United States. It boasts a successful track record spanning over half a century. The scope of this collection involved a wide range of vintage automobiles, including several categories such as muscle cars, classic cars, exotic cars, antique cars, street rods, Cobra replicas, race cars, antique fire engines, and retired military vehicles.

The policy is widely accessible throughout the United States, with a predetermined value that is established before policy enrollment. Policyholders can get up to a 45% discount through American Modern, contingent upon many parameters. These parameters include age, geographical area, credit rating, and driving history. The insurance policies offered by the company are comprehensive, including bodily injury and property damage liability, as well as uninsured motorist and medical protection.

Nevertheless, American Modern Insurance does not consistently provide coverage for individuals categorized as higher-risk drivers. The company’s insurance claim processing time may be somewhat longer than that of other insurance providers. Additionally, people with a substantial history of traffic offenses or car accidents may encounter difficulties in obtaining insurance coverage from American Modern.

#5. Leland-West

Leland-West provides a comprehensive range of coverage features tailored specifically for historic cars. These features include limited use, flexibility, and unlimited yearly mileage alternatives. A distinct strategy is in place for vehicles used on racing circuits. The insurance policy includes agreed-value coverage, which is accompanied by an inflation guard feature designed to prevent the vehicle from being inadequately insured. Leland-West is accessible in a total of 46 states, along with the District of Columbia. The Leland-West insurance company does not offer its services in the states of Alaska, Hawaii, Massachusetts, or North Carolina.


The following are some of the benefits of Leland-West for your classic car insurance:

  • The Leland-West policy incorporates spare parts coverage amounting to $2,000.
  • Leland-West provides a range of mileage packages. Generally, this includes limited, flexible, and unlimited options specifically designed for the recreational usage of historic cars.
  • The company provides supplementary coverage options that permit intermittent commuting with one’s vintage automobile.
  • If an individual opts for a restricted mileage program and does not exhaust their mileage restriction, the remaining miles will carry over to the subsequent insurance period.
  • Reimbursement for relocation expenses is provided to facilitate the transportation of collection cars to safeguard them from potential damage caused by catastrophic events, such as hurricanes.

#6. Chubb

Chubb’s vintage automobile insurance policy generally provides coverage for vehicles that meet specific criteria. The criteria include being at least 30 years old, belonging to a larger collection of vehicles, or having a limited production model. Vehicles are required to be stored in a garage and used solely for recreational purposes. The recreational purpose can be vehicle shows, exhibitions, participation in car club events, and parades. 

Chubb distinguishes itself by offering policyholders the flexibility to select their preferred repair facility or use their extensive network of highly skilled professionals. This includes the option of arranging repairs for classic vehicles at out-of-state or international locations if the need arises. The individuals in question strongly advocate for the use of Original Equipment Manufacturer components in the repair of your vehicle. Alternatively, they are willing to cover the expenses associated with the procurement of manufactured parts. However, it’s on the condition that the original components are not accessible.


The following are some of the benefits of using Chubb to insure your classic car:

  • Repairs are conducted using Original Equipment Manufacturer (OEM) components.
  • This policy includes the selection of a repair facility, allowing for the possibility of sending the vehicle to an out-of-state or international location for required repairs.
  • There is no specified mileage restriction; nevertheless, it is recommended that classic cars be primarily used for recreational purposes or infrequent usage.
  • There is no deductible applicable in the event of a total loss settlement.
  • Provides spare parts coverage amounting to $1,500.

#7. Condon Skelly 

Condon Skelly has been assisting consumers in safeguarding their classic items through the provision of cost-effective insurance coverage that has been at the forefront of the industry since 1967. Their focus lies in providing insurance coverage for a wide range of collector vehicles, including various categories such as antiques, classics, specialized, and exotic cars. Condon Skelly stands out because it possesses a comprehensive understanding of the various difficulties and apprehensions associated with the ownership of collector automobiles. Hence, the focal point of their business has consistently revolved around the provision of client service. 

Condon Skelly provides a range of mileage plans, encompassing unlimited mileage options, while also offering coverage for a diverse array of vehicles. Additionally, the company gives a lay-up discount for policyholders who choose not to utilize their vehicles during the winter season.


The following are some of the benefits of using Condon Skelly for your classic car insurance:

  • The available mileage options range from 2,500 to 7,500 unless the unlimited mileage option is selected. However, it is important to note that regardless of the chosen mileage plan, the vehicle must be used for recreational purposes and not as a daily driver.
  • Customers who opt to store their historic vehicles from December to March will be eligible for a discounted rate. This does not pertain to automobiles undergoing restoration.
  • This insurance policy provides coverage for distinctive types of vehicles, including vintage tractors, military vehicles, and fire trucks.

#8. State Farm Classic Car Insurance

State Farm provides a comprehensive range of insurance products tailored specifically for vintage or collector cars. This includes a diverse array of vehicles, ranging from muscle cars to iconic Model Ts. In collaboration with Hagerty, a prominent provider of insurance for enthusiast automobiles, State Farm offers low rates for vintage car insurance. State Farm’s collector and classic automobile insurance policies are specifically tailored to cater to the needs of vintage and antique vehicles. This policy includes automobiles that possess historical significance and have been in existence for a minimum of 10 years. Due to the distinctive nature of classic and collector cars, specialized insurance coverage is necessary to adequately address their specific characteristics.

Why is Hagerty Insurance so Cheap?

Hagerty is cheap because it insures timeless treasures or rather, antiques. For instance, the prices for collector’s vehicle insurance are comparatively lower than those for ordinary auto insurance, mostly due to the rare usage of collector’s cars on public roads. Hagerty provides a range of benefits, including guaranteed replacement value, competitive annual premiums, and flexible usage options.

Can I Use a Classic Car as a Daily Driver?

Well, you can. But the truth is, classic cars are for daily drivers because there are restrictions on the mileage. Most insurance companies will ball out if you drive your classic car daily. To ensure regular and reliable usage, the car must meet the necessary roadworthiness standards, which typically entail increased maintenance and repair requirements.

How Many Miles can you do on Classic Car Insurance?

Classic automobile insurance providers commonly establish an annual mileage restriction that falls within the range of 3,500 to 10,000 miles.

Are there Benefits to Owning a Classic Car?

Sure, there are several benefits of owning a classic car. One advantage is the possession of a rare and distinctive object. Owning a rare automobile elicits attention, admiration, and envy from several automotive enthusiasts. Individuals may experience a heightened sense of nostalgia towards automobiles from a distinct period or possess early recollections linked to a specific make and model of a vehicle.

Does Hagerty’s Insurance Cover Daily Drivers?

No, Hagerty exclusively offers insurance coverage for collection automobiles that are not for daily driving purposes. By opting for a classic or collector car insurance policy, individuals can secure more comprehensive coverage at considerably reduced costs compared to conventional auto insurance options.

Does Mileage Matter on a Classic Car?

If you intend to buy insurance coverage for the classic car, then mileage matters.

How Often Should You Start Your Classic Car?

Driving your car at least once a month can help to halt the aging process. It’s fine to collect and store historic automobiles, but what good are they if you can’t show them off? The car must go through the motions of typical driving.

What Is the Safest Classic Car?

Volvo 240. They’re known as “The Brick,” and with over 2.8 million produced between 1974 and 1993, they’re still simple to find.


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