Antique Car Insurance

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Contributor, Benzinga
December 29, 2021

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The exhilaration of driving a classic car can make you feel like you own the road. However, it’s important to know it may take more than traditional car insurance to provide the proper protection. 

Learn more about antique car insurance and the specialized coverage it offers now. 

Who Needs Antique Car Insurance?

If you are the proud owner of an antique or hobbyist car, you need antique car insurance. Providers draw a difference between your everyday vehicle and one that has been preserved. 

It is important to contact your car insurance provider to learn the difference in coverage offered by antique car insurance and secure a policy as soon as possible.

What Qualifies as a Classic Car?

Insurers recognize a distinction between a classic car and a collector car. Collector vehicle is a term used to describe vehicles that are not driven daily or are a part of limited production and considered of particular interest. Good condition cars from the 1970s and earlier are considered classic. 

A vehicle is deemed a collector car based upon its unique appeal and features. Collector cars aren’t necessarily categorized by model year. Some of the most popular collector car models are Chevrolet Corvette, Ford Mustang, Mazda Miata, and Porsche 911. 

While most people can assume an old car qualifies, there are also classics from the 80s and 90s that are considered priceless and irreplaceable in addition to those from the 1970s and earlier. It’s important to research and ask questions regarding your particular vehicle as you seek insurance coverage.

How is Antique Car Insurance Written?

Antique car insurance policies include standard coverage that you would otherwise see in a traditional policy. This includes bodily injury and property damage liability and collision and comprehensive coverage.

If you purchase a traditional policy, you might decide to waive coverages that aren’t required by law, like collision and comprehensive. Classic and antique car owners need collision and comprehensive protection to safeguard valuable investments.

A typical standard antique car insurance policy will include coverages you don’t find in a traditional policy. For example, a comprehensive antique car insurance policy will include agreed value coverage for the vehicle’s actual value. Generally, a vehicle’s value depreciates, but over time, the value of an antique car normally increases. Agreed value coverage will provide protection for the true value of an antique car if a loss occurs. 

Antique car insurance policies may also include spare parts protection. Classic car owners often have trouble finding parts, and spare parts protection may allow the purchase of a few extra original hubcaps or engine parts for future repairs. 

Trip interruption and roadside assistance may also be included in comprehensive antique car insurance. Even with regular maintenance, any older vehicle is more susceptible to breakdown. This coverage can help pay the cost of breakdowns that could occur when auto owners are en route to events like car shows.

Antique car insurance coverage also brings specific limitations. You can expect providers to only extend antique car insurance policies to certain ages and classifications of vehicles. There can also be limitations or restrictions on car owners that traditional policies don’t offer.

The fine print of antique car insurance could prohibit everyday use like commuting to and from work or running errands. Some auto insurance companies will not insure a classic or antique car unless you own another modern vehicle for daily use. 

Certain carriers may also advertise antique car insurance policies that allow flexible usage. This allows for occasional pleasure rides but is often designed for cars only driven to specific events like car shows and auto club events. Some antique car insurance policies even have stipulations that you store your vehicle in an enclosed, locked facility like a garage or storage unit. 

It can also be important for you to have an overall clean driving record. The Insurance Information Institute reports that some insurers won’t write classic car insurance policies for owners with serious traffic violations on their driving record. Driving under the influence and reckless driving violations may also disqualify you from an antique car insurance policy. 

Be sure to fully understand auto insurance terms before purchasing any kind of coverage. Talk with an agent to answer all your questions or request a sample policy to review before you sign.

Before you sign on the dotted line, come to an agreed-upon price for your antique car. Remember, the value of a classic car can’t be compared to a modern car. The condition of your car is important, but be sure to take into account all the work and money you might have put into it. 

Compare Auto Insurance for Antique Cars

Antique and classic cars require a great deal of time, effort, and money. Comprehensive insurance for your classic car is of the utmost importance. 

Take a look at Benzinga’s list of the best auto insurers for your antique car:

Progressive Classic Car Insurance by Hagerty

Coverage for your classic car from Progressive Classic Car Insurance by Hagerty is available for classic cars of any age. This plan sets an agreed value that you receive in the unfortunate event of a total loss. However, there are requirements you must meet when it comes to the use and storage of the classic car.

American Modern Insurance Group or Assurant from Geico 

Geico has partnered with American Modern Insurance Group or Assurant to provide customers with classic car insurance. Keep in mind that your car has to meet some qualifications. Your collector vehicle must be:

  • At least 25 years old
  • A new exotic car like an Aston Martin or Lotus
  • A new replica car like a 1966 Batmobile
  • A classic military vehicle, hearse, firetruck or other 

Additionally, the car must fall under both of the requirements as it can only be used for club activities, occasional pleasure or exhibitions. The car is not permitted to be used as a primary method of transportation and must also be stored in a fully enclosed or locked facility.

USAA Car Insurance - American Collectors Insurance

USAA Car Insurance has partnered with American Collectors Insurance for more than 30 years. Under its classic car insurance policy, the vehicle is only driven for pleasure. 

It can’t be used for racing or other timed events, and the car must be stored in an enclosed and locked garage. With this plan, you will benefit from agreed value coverage, flexible mileage and automatic coverage.

Find Antique Car Insurance Today

Antique car insurance offers specialized coverage beyond the required for each state. Start with our recommended providers to find a policy for your classic or exotic vehicle today. 

Frequently Asked Questions


Is insurance cheaper for antique cars?


Classic or antique car insurance is often cheaper than traditional auto insurance. However, a list of qualifications must be met to purchase a policy. 

Classic and antique cars are less expensive to insure because of the lower liability risk associated with a car driven infrequently. Full coverage, classic or antique car insurance averages about $50 a month.


Do antique cars need insurance?


It is wise to purchase insurance for antique cars because the vehicle is valuable. Its value can be enhanced with restoration, maintenance and care. 

However, just as it is with any vehicle, the more it is used, the chances of it being involved in an accident rise. Antique car insurance can serve as protection should something ever happen.