How to Buy Insurance for Your Classic Car

Buying insurance can be almost as exciting as going to the dentist.  But since many classic car owners tend to be a little more emotionally involved with their “baby” than with the commuter car that gets them to work…it might be a more passionate endeavor when it comes to insuring them.

classic cars exotic cars

Here are the basic topics we’ll cover:

  • What is classic car insurance?
  • Top 5 classic car insurance companies
  • What qualifies as a classic car?
  • Coverage options available for classic cars
  • How to find the best classic car insurance

What is classic car insurance?

Classic auto insurance differs from a standard auto policy in a few ways. There are not only certain eligibility requirements for classic cars (which we’ll discuss below), but there are also key differences in how an insurance company pays out claims for these vehicles.

Unlike regular-use vehicles, classic cars appreciate in value over time rather than depreciate. To account for this, classic car insurance providers will often reimburse drivers with an agreed value in the event of an auto collision.

Usually, an agreed value takes into account the car’s value over time as well as interest and a professional appraisal of the vehicle. With regular car insurance, companies will only reimburse the vehicle’s replacement cost and deduct any depreciation.

Classic car insurance also has annual mileage restrictions. Since these specialty vehicles are only intended for occasional pleasure driving or auto shows, car insurers cap how many miles the vehicle can be driven per year. This also means that classic car owners are expected to have a separate vehicle for daily driving.

Top 5 classic car insurance companies

While a classic car insurance policy is often cheaper than standard auto insurance, choosing the right insurer is still an important decision. Whether you own a vintage Porsche 911, a hot rod or a muscle car, it’s a good idea to consider multiple insurance companies for your classic auto insurance coverage.

Below, we’ve outlined our top five picks for classic car insurance and collector car insurance. Most of these companies cover collector vehicles, antique cars and exotic cars as well.


1. Grundy Insurance                                                                 Unlimited                                                               8.5
2. Hagerty Insurance (Progressive)                                         Unlimited                                                                8.5
3. American Collectors Insurance (USAA)                                7,500                                                                     9.0
4. American Modern Insurance (GEICO)                                Unlimited                                                                7.0
5. Heacock Classic Insurance                                                     6,000                                                                   9.0


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