State Farm is one of the largest insurance companies, as it offers a wide variety of other insurance and financial products, sold exclusively by State Farm agents; this includes classic car insurance. If you are looking for a well-known brand name with a generous selection of products and consumer-friendly pricing, this carrier might be right for you.<\/p>
State Farm has consistently ranked within the top three insurers for customer satisfaction over the last three years. It even has a higher NAIC complaint index than Chubb, and was awarded 856 out of 1,000 points for customer satisfaction in J.D. Power\u2019s Small Commercial Insurance Study.<\/p>
It offers business insurance designed for independent contractors, restaurants, professional services, and retailers, with paperless billing and autopay options. Commercial insurance products include BOP bundles, surety and fidelity bonds, and farm and ranch insurance.<\/p>
State Farm offers great options for insuring classic or collector cars from muscle cars to Model Ts. In partnership with Hagerty, the leading protector of what is known as enthusiast vehicles, the company provides classic car insurance at competitive rates.<\/p>
Classic car insurance coverage differs from traditional car insurance in that it\u2019s designed for antique, vintage, classic, and collectible vehicles. These types of vehicles are often rare and even one-of-a-kind, and they require insurance policies that consider and protect their uniqueness and value.<\/p>
Similar to standard car insurance policies, classic car insurance can include the six types of coverage we mentioned earlier:<\/p>
But there are also a few key differences between classic and standard car insurance that are worth considering.<\/p>
One of the most notable differences between classic and standard car insurance is how each addresses the value of the car. Standard car insurance policies assign value to a vehicle using one of two options:<\/p>
Classic car insurance policies, on the other hand, assign value to a specific vehicle based on the age, condition, modifications, and type of vehicle. This is known as an agreed value<\/strong>. When agreeing upon value, car owners and insurance companies also take into account how the vehicle will increase or decrease in value over time.<\/p> Because classic or collectible cars usually appreciate in value, it\u2019s important to continuously assess that value and adjust the policy accordingly. Some classic car insurers may require a professional appraisal to determine and update value.<\/p> Besides the way a vehicle\u2019s value is determined, there are a few other qualifications and limitations that differentiate a classic car insurance policy from a standard car insurance policy. We\u2019ve outlined them below.<\/p> The biggest limitation of classic car insurance is how you\u2019re able to use the vehicle. A classic car insurance policy may have some or all of the following restrictions:<\/p> If you\u2019re wondering if your car has historic interest and qualifies as a classic, you can check with your local Department of motor vehicles. The requirements for registering your vehicle with historic status vary by state, but your local DMV will be able to provide you with a list of specifications.<\/p> Yes, State Farm offers classic car insurance in 48 states (the company doesn\u2019t sell new policies in Massachusetts or Rhode Island). In 2023, it partnered with Hagerty to expand coverage options to classic and antique vehicles. State Farm offers classic auto insurance for vehicles with a historic interest that are:<\/p> Because classic and collector cars are unique, they require insurance policies designed to reflect that. For example, while most modern vehicles begin to depreciate in value the minute you drive them off the lot, classic cars typically appreciate in value year after year. So to insure them properly, you need a classic car insurance policy that takes value into account.<\/p> State Farm collector and classic car insurance is designed with vintage and antique vehicles in mind. It covers vehicles with a historic interest that are at least 10 years old.<\/p> Classic car insurance policies from State Farm can include the following types of coverage:<\/p> Working with a State Farm agent, you can determine which coverages you need based on your vehicle\u2019s value and use. For example, if you go to car shows or use it for pleasure driving. However, note that some coverage options may not be available in your state.<\/p> To qualify for State Farm classic car insurance, your vehicle needs to have historic interest and be either antique or classic. This means:<\/p> In addition to having eligibility rules for age and historic interest, State Farm specifies that the vehicles should be:<\/p> If your antique or vintage car meets these qualifications, a State Farm insurance agent can help you find coverage that meets your needs.<\/p> Aside from State Farm\u2019s requirements for classic car insurance, there are other guidelines for what qualifies as an antique or classic vehicle. According to American Collectors Insurance<\/a>, these are the standards:<\/p> Car buffs and enthusiasts often disagree about the differences between the three, and they may use the terms classic, vintage and antique interchangeably to describe all types of old and collectible vehicles. For example, LaFontaine Automotive Classic Cars<\/a> defines vintage cars as 25 or older, classic cars as 20 to 45 years old and antique cars as 45 or older.<\/p> Because these specifications overlap, for the purposes of insurance, we\u2019ve simplified the descriptions of vintage, antique and classic vehicles below.<\/p> Although you may expect antique cars to be the oldest of the bunch, by classic car insurance standards, vintage vehicles are older.<\/p> When it comes to insurance companies, vintage cars run the gamut in age range. Some companies define vintage cars as 45 and older, while others specify 50 or older. State Farm insurance includes vintage cars in the antique category at 25 years or older.<\/p> Most classic car insurers, including State Farm, define antique cars as being 25 or older. Some insurance companies put a cap on how much older they are.<\/p> Most insurance companies define classic cars as 10 to 25 years old. But again, this can vary from insurer to insurer.<\/p> If the gearheads and car buffs can\u2019t agree, it can be difficult to know for sure if your car is considered classic, antique or vintage. While there\u2019s no simple answer, as a general rule of thumb, if your car is at least 25 years old and holds historic or collectible interest, then it most likely qualifies for classic car insurance.<\/p> When shopping for classic car insurance, familiarize yourself with the parameters insurers use for classifying vehicles. Although different insurance companies may use different terminology for your car, most will offer similar coverage options whether your vehicle is classic, vintage or antique.<\/p> When shopping for car insurance, it\u2019s important to ask about car insurance discounts. There may be ways to lower car insurance premiums with a discount or two or even more. (Not all discounts are available in every state.)<\/p> State Farm offers several benefits that may make the carrier worth looking into. These include:<\/p>Limitations of classic car insurance<\/strong><\/h3>
Does State Farm offer classic car insurance?<\/strong><\/h2>
State Farm classic and collector car insurance coverage<\/strong><\/h3>
State Farm classic car insurance requirements<\/strong><\/h3>
What is an antique or classic car?<\/strong><\/h2>
Vintage vehicles<\/strong><\/h3>
Antique vehicles<\/h3>
Classic vehicles<\/h3>
How do I know if my car is classic, antique or vintage?<\/strong><\/h2>
State Farm car insurance discounts<\/strong><\/h2>
Here are some discounts you are likely to see from State Farm:<\/span><\/h5>
Other State Farm tools and benefits<\/strong><\/h3>
Recommended Articles <\/strong><\/span><\/h2>
References<\/strong><\/span><\/h2>