The Best Antique Auto Insurance for Your Classic Car

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Your classic car is a beauty, and you take a lot of pride in it. Whether you want to protect your vehicle as you drive it to the local car show, or you are currently restoring it in the garage, you want to know that you have the best antique car insurance available. Otherwise, your investment might not be protected.

While we’ve done an in-depth review of the top insurance companies, not every provider offers protection for classic cars. In this article, we will look at the mainstream companies that have policies for collector cars and some specialty companies with coverage as well.

 

In this article:

What Does Antique Auto Insurance Cover?

If you have a ’37 Buick, ’67 Chevy Corvette Stingray, or ’77 Camaro Z-28 sitting in your garage, you might be tempted to cover it on your regular car insurance, but that’s not the best plan. Conventional insurance coverage is for your everyday driver.

Your antique automobile holds its value or even appreciates in price each year. In comparison, your ordinary vehicle depreciates each year, which also causes the liability value to go down, too. You want to use a company that understands the value of your vehicle and can protect it.

If you think driving to and from the local car show doesn’t require car insurance, think again. It’s not legal to drive without car insurance. Doing so, even for a short distance, isn’t just illegal, but also dangerous.

Thankfully, antique car insurance is typically cheaper than your standard policy. You often spend less time driving your classic beauty, which means there is less risk. But, you might have to deal with some limitations, such as rules about parking and mileage restrictions.

Classic car insurance works the same way as your standard policy. You will be able to purchase collision, comprehensive, bodily injury liability, property damage liability, personal injury protection, underinsured, and uninsured motorist protection. In addition to these coverages, you might also find these additional protections.

 

What Vehicles Qualify For Antique Auto Insurance?

You will find varying levels of collector car insurance. The reality is that there is an available plan out there for any vehicle. Hagerty even covers old military vehicles, so you can get protection for that tank you bought at an auction. 

For the most part, you will see classic car insurance broken down into several categories.

• Antique/Classic Cars: If your stock vehicle is more than 25 years old, you can likely get antique car insurance for it. This coverage applies to that Ford Mustang and Dodge Charger you have held onto.
• Replica/Modified Cars: While many antique auto insurance companies allow you to add on extra protection for modifications, there’s typically a limit to that coverage. If you have performed extensive modifications or created a replica of an older vehicle with a new chassis, you want this plan instead.
• Exotic Cars: If you have a high-value supercar, exotic car, or limited-edition vehicle that is newer, you might also require specialty insurance.
• Race Cars: Likewise, if your vehicle is used for racing, you want specific coverage for storage and trailering. This plan is often more expensive, and most policies are event-based. Basically, you will want to purchase insurance strictly for when you race and then have storage coverage for the rest of the year.
• Restoration Cars: If you are currently restoring a classic car, don’t neglect coverage. The car insurance company will likely want to see high-quality photographs of the restorations to understand what is being worked on. Once the restoration is complete, don’t forget to update the policy.

Antique Auto Insurance Requirements

While each company will require different criteria for your antique automobile, most of the policies are similar. Most importantly, you can’t use your antique car regularly. There will be a mileage restriction placed on the vehicle.

The provider might specify what you are allowed to drive the vehicle for. These restrictions could include car shows, parades, and recreation. There might also be specifications about the insured driver. Most companies require that you are 25 or older and have a clean driving record.

During coverage, you are responsible for taking care of the vehicle. It must be kept in a garage and protected from the elements. You also won’t have coverage for risky events, such as racing, unless you choose the appropriate plan.

Available Antique Auto Insurance Discounts

Depending on what insurance agency you choose, you might also have a selection of available discounts that will save you more money. Look for some of the most common from the top insurance companies. 

 

Who Sells Antique Auto Insurance?

While we don’t have an exhaustive list, we do know about many companies that provide some form of classic coverage to keep your car insured.

Specialty agencies that sell classic car insurance:

• American Collectors
• American Modern
• Classic Collectors
• Condon Skelly
• Grundy
• Hagerty
• Heacock
• Leland-West

Some traditional auto insurance companies with antique car insurance include:

• American Family
• American National
• Farmers
• Liberty Mutual
• Safeco
• State Farm

Several traditional car insurance companies partner with a specialty company to provide antique auto insurance. The table illustrates a few of these partnerships.

 

Top Antique Auto Insurance Providers

From our research specifically into classic car coverage and our other in-depth analysis, we were able to determine the top providers for your collectible. Here is how each company stacks up against the others.

 

While you have a lot of options to choose from, we recommend choosing a company that tops our best insurance company list and partners with a reputable classic car insurance specialty provider. The following three options fit those criteria perfectly.

Consider Progressive Classic Car Insurance

Progressive works directly with Hagerty to offer coverage for antique cars. The car must be between 25 and 50 years old, although there are options for older vehicles. With Hagerty behind the plan, you have access to the Guaranteed Value coverage. This plan sets an agreed value that you will receive in the event of a total loss.

In addition, Progressive ensures that your vehicle receives original parts during a rebuild or repair. If that’s what your vehicle already had, there’s no reason to compromise the value after an accident.

Furthermore, Progressive is a reputable company. J.D. Power has performed numerous studies involving Progressive, and here are the results. In the U.S. Independent Insurance Agent Satisfaction Study, Progressive received a 4/5, making it one of the top providers. Furthermore, during the Insurance Shopping Study and the U.S. Auto Claims Satisfaction Study, Progressive received average marks.

When you combine the reputation of Progressive with Hagerty’s knowledge, you know this is an exceptional partnership that only benefits policyholders. In fact, Trustpilot labeled Hagerty as “Excellent,” which isn’t something that comes lightly. Here is one review left on the site.

“Hagerty is the best old car insurance company there is. Never a problem in 15 years of doing business with them.”

-Earl via Trustpilot

If you are already a Progressive policyholder, you will also have the chance to save more with the multi-car discount.

Consider Geico Classic Car Insurance

Geico partners with American Modern to provide antique car insurance. Whether you are driving to the local car club or participate in holiday parades, you will find that Geico has you covered. To qualify for coverage, your vehicle must be one of the following:

• 1994 or older
• Exotic car
• New replica car
• Classic military vehicle or otherwise special model (such as a fire truck or hearse)

In addition, the vehicle must fall into these two requirements:

• It can only be used for club activities, occasional pleasure, and exhibitions. It’s not permitted as the primary means of transportation.
• The car must also be stored in a fully enclosed and locked structure.

In return, Geico provides all of the standard coverage options. You can also expect low deductibles and an Agreed Value plan that gives you a specific amount in the event of a total loss. There’s no depreciation with these plans. Plus, Geico doesn’t require a vehicle appraisal to begin coverage.

As far as reputation is concerned, both Geico and American Modern have an A+ Better Business Bureau (BBB) rating. Looking at the J.D. Power studies, we see decent marks there as well. The Insurance Shopping Study and the U.S. Auto Claims Satisfaction Study both produced average scores.

With Geico heading up the coverage and American Modern backing the plans, you really can’t go wrong. This partnership features two strong leaders that continue to excel in the industry.

 

 

Consider USAA Classic Car Insurance

If you are a military member, veteran, or part of a military family, you can receive classic car insurance through USAA with the backing of American Collectors. The plans are available for classics, exotics, kits, replicas, muscle cars, vintage motorcycles, and street rods.

Requirements for these policies include:

• The vehicle is driven only for pleasure.
• It can’t be used for racing or other timed events.
• The car must be stored in an enclosed and locked garage.

In exchange, you receive the following benefits with your plan.

• Agreed-Value Coverage: You agree on a value for the vehicle. If there is a total loss, that value increases 6 percent to ensure you have what you need.
• Flexible Mileage: You can choose a variety of terms, from 2,500 to 7,500 mileage tiers.
• Automatic Coverage: If you add a new car to your collection, it is automatically protected up to $100,000 for the first 30 days.

The ratings in the Insurance Shopping Study and the U.S. Auto Claims Satisfaction Study couldn’t get any better. USAA continues to top the charts when it comes to finding the best insurance coverage. In addition, American Collectors Insurance features an “Excellent” rating from Trustpilot. Among the positive reviews left with the website, read what this happy customer has to say.

“Christine was nothing short of a delight to talk to on the phone. She walked me through all the changes I needed to make on my policy to make sure the application process was correct and thorough. I will definitely continue to be a customer with any collector vehicles I purchase in the future. Thanks again!”

-Aleck Hobson via Trustpilot 

As you read through all of the reviews, you will see that customer service is the company’s specialty. With that kind of service, paired with USAA reliability, it’s clear to see why this option is a winner.

 

Get The Best Classic Car Insurance Rates

As with any car insurance, it’s recommended that you shop around for the best coverage. While the price is important, it shouldn’t be the only factor you consider. Make sure you also look at:

• Coverage terms
• Available policies
• Claims satisfaction
• Company reputation
• Additional perks
• Restrictions

With the right amount of research and a little time, you will find the plan that fits your classic car needs.