Classic car insurance coverage
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Premium protection for your classic car
You love your classic car beyond reason. Perhaps you’re the proud owner of a perfectly preserved 1960s muscle car or a ’50s convertible, all chrome and shiny fins. It’s the car you dreamed of having as a kid and now spend your weekends buffing up and tweaking until the engine sounds just right. Whatever your automotive passion, you can protect your classic, custom, antique and collectible vehicle — and your investment in it — with classic and collector car insurance. Choose the precise coverage you want for a car that needs special care and isn’t easily replaced.
What is considered a classic car?
There are about as many definitions of what’s considered a classic car as there are classic cars. Car clubs, states and insurance companies all consider their own parameters. But most start at the same place: age. Classic cars are old — 20 or 25 years old is a common rule of thumb. Cars older than that may be considered vintage or antique.
Classic, vintage or antique cars also have something special. Maybe it’s a limited production car, or has a unique and desirable feature, or it’s perfectly restored. As the Insurance Information Institute (III) puts it, a classic, collectible or antique car is “no ordinary car.” And so it needs special insurance.
Qualifying for classic car insurance
Insurers vary widely when it comes to what qualifies for classic car insurance. But according to the III, most consider the following criteria:
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Limited use |
| You don’t commute in your classic car or use it for errands. Your insurer may impose mileage limits or ask you to prove you have an everyday car. |
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Car shows and meetings |
| You can travel to car shows and auto club meetups in your classic, but some insurers add conditions or provide specialized coverage. If you plan to take your classic car on regular, multi-day high-mileage drives, the III recommends that you choose insurance that covers you in these situations. |
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Secure storage |
| You keep your classic car in a secure, locked garage or storage unit. |
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A clean driving record |
| Having serious accidents or violations on your driving record, such as reckless driving or DUIs, might disqualify you from coverage for your classic car. |
Even if you meet those criteria, not every insurer may offer you coverage. For example, some insurers may not cover vintage off-road vehicles or old cars that are in poor condition or have been previously damaged.
Information you need to get a classic car insurance quote
- The value of your car. Depending on the insurance you choose, this can be something you and your insurer agree on when you buy a policy, starting with evidence of what you paid for it and how you’ve maintained or improved it.
- Proof of secure storage
- Your driving record
- Proof that you have standard auto insurance
- Proof that you have a primary vehicle for everyday use
Why do I need classic car insurance coverage?
Your classic car can be a high-value vehicle — and, unlike your everyday ride, it may grow in value as you own, restore and customize it. Classic car insurance can cover its full value, unlike standard car insurance, which takes age, mileage and depreciation into account and might not be enough to cover repairs.
What’s the difference between standard auto and classic car insurance?
You can insure the full value of your collectible car, but you can’t insure the full initial value of your everyday-use car — that’s the biggest difference between standard and specialized classic car insurance.
Think about it: A new car loses value the moment it’s driven off the lot. The valuation of a classic car can grow over time. A classic car’s value can be based on purchase price, customization and other details specific to the car — you and your insurer can set and agree on this amount when you buy your policy. If your beauty is totaled, you get the agreed-upon value with no depreciation. Without this specialized coverage, you would get only the depreciated value of your car after subtracting for its age, mileage and condition under most standard auto policies.
In addition, specialized classic car insurance can come with lower premiums, because they’re typically low-mileage vehicles. And Farmers® classic car coverage comes with insurance expertise that shows up in everything from service and claims handling to roadside assistance.
Coverage options for vintage and classic cars
Comprehensive coverage If your classic car is damaged by something other than a collision or if it’s stolen, comprehensive coverage can help pay for the loss. As a classic car owner, you can choose agreed value coverage, to make sure you’re covered for the full agreed-upon value of your car with no depreciation. |
Liability coverage If you’re responsible for a crash and other people are hurt or their vehicle or other property is damaged, liability coverage can help with their repair and medical costs. It can also help with legal costs if you are sued. |
What does classic car insurance cover?
Specialized classic car coverages can help in situations that only a classic and collectible car owner will encounter:
Travel
Say you want to take your car to a show in Europe, but standard auto insurance stops at the U.S. border. Classic car coverage typically lets you roam.
Original equipment/parts
When your classic needs repairs, standard car insurance usually covers stock spare parts but specialized coverage should let you use hard-to-find, sometimes expensive parts made by your car’s original manufacturer.
No attendance
What if you’re at a show with your classic, but you want to leave its side to check out other cars. If you find it damaged when you get back, no attendance coverage can help.
Towing
Taking a collectible vehicle out on the road comes with the added risk of a minor breakdown that can leave you stranded. Classic car towing coverage can help if your classic needs a flatbed or other special towing service.
Discounts for classic car enthusiasts
Lower-mileage premiums. Classic and collectible cars aren’t driven as much as everyday cars, and premiums can be up to 21% lower.
Bundling. Adding a classic car policy to your standard auto policy could lower costs for both. Adding multiple classic and collectible cars can reduce the cost of each one. Adding homeowners, boat or other policies could save you even more.
Commonly asked questions about classic car insurance
How old does my car need to be in order to be considered classic?
That depends on the car, the insurer, the state and even the car club you want to join. Common definitions start at 20 or 25 years old. Much older cars may be classified as vintage, antique or historic instead of classic. Collector cars may also include more modern race, high-value and sports vehicles.
Do I need to store my car in a specific way to be covered?
A locked garage, storage unit or other secure indoor space is often required to qualify for classic car insurance. Specifics vary by insurer.
Our car is a family heirloom — will insurance replace my antique vehicle if it is damaged?
Not typically. If you have agreed value coverage on your family treasure, you could be paid its stated value if the car is damaged beyond repair. If it can be repaired, having original parts coverage would help with the cost of using authentic replacement parts.
How is the value of my classic car determined?
Starting with specifics of your car — things like its age, condition, upgrades, purchase price — you and your insurer will together determine your car’s “agreed value.” This is the amount your policy can pay if your car is totaled.
How often can I drive my classic or collector car?
Many classic car policies come with mileage limits, ranging anywhere from 1,000 to 7,500 miles per year, or other driving restrictions. It really depends on the policy and insurer. Typically, policy restrictions allow usage for events like car shows and club meetings but not for daily commuting or errands.
Does Farmers insure other types of non-standard vehicles?
Offroad vehicles, motorcycles, replicas, newer high-value cars, trucks and car collections can all potentially qualify for classic or collector car insurance with Farmers by Hagerty.
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Farmers® specialized and classic auto insurance by Hagerty®
Make your coverage as special as your ride — and get a discount, too. Bundle with your regular auto, boat, homeowners or other policies and save even more.