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Best classic and collector car insurance

The best classic car insurance companies are more likely to be specialty insurers instead of large providers.

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By

Andrew Hurst

Andrew Hurst

Senior Editor & Licensed Auto Insurance Expert

Andrew Hurst is a senior editor and a licensed auto insurance expert at Policygenius. His work has also been featured in The New York Times, The Wall Street Journal, Forbes, USA Today, NPR, Mic, Insurance Business Magazine, ValuePenguin, and Property Casualty 360.

&Rachael Brennan

Rachael Brennan

Senior Editor & Licensed Auto Insurance Expert

Rachael Brennan is a senior editor and a licensed auto insurance expert at Policygenius. Her work has also been featured in MoneyGeek, Clearsurance, Adweek, Boston Globe, The Ladders, and AutoInsurance.com.

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Maria Filindras

Maria Filindras

Financial Advisor

Maria Filindras is a financial advisor, a licensed Life & Health insurance agent in California, and a member of the Financial Review Council at Policygenius.

Updated|6 min read

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Hagerty, American Modern, and State Farm have the best insurance for classic and collector cars, though another company may be better for you depending on how much you drive and what coverage you need.

hagerty-car-insurance

Best for most people

  • Rating: 4.3/5 ★

  • What we like: Range of add-ons for custom parts, plus deals on classic car accessories and parts.

Screen Shot 2022-08-15 at 4.33.23 PM

Best for flexible coverage

  • Rating: 4.3/5 ★

  • What we like: Inflation guard, diminishing deductible, and coverage for other types of vehicles.

State Farm Logo

Best from a large company

  • Rating: 3.5/5 ★

  • What we like: Support from State Farm’s network of insurance reps and great ways to bundle.

Insurance for classic and collector cars offers different coverage than regular car insurance for a typical daily driver. The best companies for classic car insurance are familiar with antique and collector cars, but rules about your car’s age, annual mileage, and storage can all affect the top company for you and yourvehicle.

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What is classic and collector car insurance?

Classic car insurance covers collectable, speciality, and antique vehicles. It’s usually designed for cars that are kept in a garage (or another approved location) and aren’t driven every day. 

This can include hot rods, sports cars, antiques, retired military vehicles, and even old farm equipment. 

Classic car insurance comes with all the same necessary coverage that you’ll find in a typical car insurance policy, like liability insurance, and any other forms of coverage that your state requires. But classic or collector auto insurance often includes special insurance endorsements created for collectible cars.

This can include coverage for spare parts (original manufacturer or replica depending on your car) and special protection while your car is undergoing restoration, but specific insurance add-ons vary by company. 

In most cases, classic car insurance covers your vehicle for its agreed value, which is an amount that you and the insurance company decide on when you buy the policy. This is especially important for classic and collector cars, since their value can depend on age, condition, or aftermarket additions

How classic and regular car insurance are different

Insurance for a classic car is different from insurance for your main vehicle, since it’s designed for cars that aren’t driven every day. That’s also why classic cars are cheaper to insure (since your daily driver is on the roads more often and is more likely to be damaged).

Best for most drivers: Hagerty

Hagerty

4.3

Policygenius rating

How we score: Policygenius’ ratings are determined by our editorial team. Our methodology takes multiple factors into account, including pricing, financial ratings, quality of customer service, and other product-specific features.

Hagerty logo

Best overall company for classic car insurance

Mileage limit

Unlimited (but not for daily driving)

Hagerty’s classic car insurance makes it the best company for most people, whether they’re new to collecting cars, restoring a vehicle, or looking for insurance for a growing collection of antique vehicles.

We found that Hagerty is the best overall classic car insurance company. We like that a basic policy offers adequate protection, and there are add-ons available for even more coverage. This means it’s easy to get the right amount of insurance with Hagerty, even when your needs change.

Classic car insurance with Hagerty comes with $750 in spare parts coverage, plus more if you need it. You can also add protection to cover your classic car while you restore it, travel with it, haul it, or if you have to move it out of an area after a natural disaster.

Drivers passionate about collecting cars can also join Hagerty’s Drivers Club and get access to roadside services, exclusive classic car-related offers on memorabilia and events, a collector’s marketplace, and Hagerty’s valuation tools for pricing data.

Best for customizable coverage: American Modern

American Modern

4.3

Policygenius rating

How we score: Policygenius’ ratings are determined by our editorial team. Our methodology takes multiple factors into account, including pricing, financial ratings, quality of customer service, and other product-specific features.

American Modern logo

Best company for customizing your classic car insurance

Mileage limit

1,000, 3,000, 6,000 or unlimited miles per year

American Modern has a ton of ways that drivers can personalize their classic car insurance. That includes offers an impressive range of add-ons — like inflation guard, and different mileage plans depending on how much you use your car.

American Modern has the best classic car insurance for drivers who want to customize all parts of their policy — including the maximum number of miles per year they can use their classic or collector car.

While American Modern has all the typical classic car insurance coverage options, like roadside assistance coverage and up to $2,000 of spare parts coverage, you may also be able to add special extras, like appreciation coverage that automatically increases your agreed-upon value with inflation. 

Every American Modern classic car policy also includes up to $750 in pet coverage if your pet is injured in your vehicle.

Best from a large company: State Farm

State Farm

3.5

Policygenius rating

How we score: Policygenius’ ratings are determined by our editorial team. Our methodology takes multiple factors into account, including pricing, financial ratings, quality of customer service, and other product-specific features.

State Farm logo

Best large company for classic car insurance

Mileage limit

“Very limited basis,” though not specifically stated

State Farm has the best classic car insurance offered by a major company. Besides getting State Farm’s vast network of insurance agents and claims support, it’s easy to bundle classic car insurance with State Farm’s standard auto and home policies.

State Farm is a lot larger than specialty classic car insurance companies, and offers more types of coverage. And unlike specialty companies, State Farm also has home and auto insurance that you canbundle with your collectors car coverage for a discount.

State Farm also has a wider definition of antique and classic cars than some speciality carriers. An antique auto for State Farm is a historical vehicle that's at least 25 years old; and a classic car is any vehicle that’s 10 to 24 years old with “historical value.”

Like other classic vehicle insurance companies, State Farm offers spare parts coverage (up to $500). But one of the company’s weak points is that it doesn’t offer the same range of add-ons as a specialty carrier.

List of classic car insurance companies

While the following companies didn’t make our top three picks for the best classic car insurance companies, we found that these carriers still offer insurance for your collectible vehicle that’s better than many of their competitors.

Remember to get classic auto insurance quotes from different companies as you shop, just as you would with while shopping for auto insurance for your main car. That way you can avoid paying higher prices than you have to.

Company

What we like

American Collectors

Allows drivers to choose between five mileage limits, including one for unlimited pleasure driving. Plus, classic car insurance policies come with $500 of spare parts coverage.

Condon Skelly

Has no mileage caps and provides coverage throughout the whole time you’re restoring your vehicle. Specializes in insurance for classic hot rods and muscle cars.

Grundy

Grundy is one of a few classic car insurance companies that offers inflation guard protection.

Heacock

Policies come with up to $2,000 in spare parts coverage, but you can add more if you need it. Great choice for insuring antique cars.

Leland-West

Policies from Leland-West come with $2,000 of spare parts coverage with the option to add even more.

Safeco

Safeco still offers classic car insurance to vehicles if they’re driven up to 10,000 miles per year.

How to shop for the best insurance for classic cars

Shopping for insurance for classic cars isn’t quite the same as getting coverage for your primary car. 

You should still compare quotes to find the best insurance rates, and read reviews to find a cheap company with a reputation for high-quality service, but there are other things you need to consider.

In order to find the best classic car insurance, make sure to find companies that:

  1. Insure the type of classic vehicle you have

  2. Cover you whether you drive your classic car on surface roads or only display it indoors

  3. Offer enough protection for your car, its parts, and related equipment

Types of cars eligible for classic car insurance

One big part of finding an insurance policy for classic cars is making sure that you can actually get coverage for your car. Every company that insures classic vehicles has different rules for the types of collectors cars they will insure. 

Most of the time, a classic car is any vehicle that’s about 25 years old and not used every day. But some companies cover a wider range of classic and collector cars than others.

Here’s a list of different types of classic and collectors cars, plus companies that cover these vehicles. As you can see, while it’s usually easy to find insurance for antique cars, muscle cars, and hot rods, it’s harder to find coverage for more unique vehicles.

Type of classic car

Companies that offer coverage

Antique cars

American Collectors, American Modern, Condon Skelly, Grundy, Heacock, Hagerty, J.C. Taylor, Leland-West, Safeco

Classic hot rods

American Collectors, American Modern, Condon Skelly, Grundy, Hagerty, Heacock, J.C. Taylor, Leland-West, Safeco

Newer classic cars

American Modern, Grundy, Condon Skelly, Hagerty, Heacock, J.C. Taylor, Safeco

Replicas of classic cars

American Modern, Grundy, Hagerty, Heacock, Leland-West, Safeco

Classic race or exotic cars

American Collectors, American Modern, Hagerty, Heacock, Leland-West

Classic motorcycles and scooters

American Collectors, Condon Skelly, Hagerty, Heacock,

Collector trucks and SUVs

American Modern, Condon Skelly, Hagerty

Antique farm equipment tractors

American Modern, Condon Skelly, Hagerty

Collector military vehicles

American Modern, Condon Skelly, Hagerty

Collector commercial vehicles

American Modern, Condon Skelly, Hagerty

Kit cars

American Modern, Hagerty, Leland-West

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Mileage requirements for collectors car insurance

Companies that insure collector cars also have rules about how often you can drive your car. Your classic car insurance company’s mileage requirements should match up with your driving habits.

Many companies don’t have strict per-year mileage limits, and allow unlimited use as lost as you only drive it for pleasure. That includes anything except for daily driving, errands, using your car for business, and commuting.

  • American Collectors: Unlimited driving for pleasure

  • American Modern: 1,000, 3,000, 6,000, or unlimited

  • Condon Skelly: Unlimited driving for pleasure

  • Grundy: Unlimited driving for pleasure

  • Hagerty: Unlimited driving for pleasure

  • Heacock: Up to 6,000 miles

  • J.C. Taylor: Unlimited driving for pleasure

  • Leland West: Limited mileage but not specified

  • Safeco: Up to 10,000 miles

  • State Farm: Limited mileage but not specified

Common types of classic car insurance coverage

A basic classic car insurance policy comes with all of the coverage your state requires. It’s also common for classic car insurance to include spare parts coverage at no additional cost, but the amount that comes with a standard policy varies.

For example, each of our top classic car insurance companies include spare parts coverage, but we found that the amount that comes with a policy can range from $500 to $750, to $2,000 depending on where you get insured.

There are also a few common add-ons that can boost the protection of your classic car insurance. The following types of coverage can be especially valuable:

  • Inflation guard or appreciating value coverage: Unlike other cars, classic cars increase in value over time. This type of coverage automatically increases the agreed value coverage you have for your classic, antique, or collector vehicle to keep up with its appreciation.

  • New car addition coverage: You can get limited coverage for your other classic cars with this add-on. Companies that offer new car addition coverage will allow you to protect other cars up to a certain amount of damage, like $50,000 in many cases.

  • Retained salvage coverage: After your classic car is seriously damaged, you can keep the salvage car and still receive the full pay out for your car’s value. This makes recovering usable parts much easier.

  • Mile rollover perk: Companies that insure classic cars have rules about the number of miles you can drive and still get coverage. But if your miles rollover, you can bank your extra miles for the next year and keep your coverage.

What does classic car insurance cost?

The cost of classic car insurance varies by company, the type of car you want to insure, its age, and the amount of miles you drive it per year. In general, the cost of insurance for a classic, collectors, or antique car can be cheaper than average rates for standard car insurance.

For example, we found the cost of insurance for a 1967 Ford Mustang from four classic car insurance companies.

Classic car insurer

Average monthly cost

Average annual cost

Grundy

$17

$198

American Collectors

$19

$232

J.C. Taylor

$20

$234

Hagerty

$32

$387

Cost of classic car insurance for a 30-year-old in Connecticut

As you can see, it only costs a few hundreds of dollars per year for coverage at top classic car insurance companies — much less than the $1,652 per year it costs to insure a primary vehicle.

It can be cheaper to insure a classic car than a daily driver because a classic or antique car typically spends most of its time in a garage. Fewer miles driven means a lower chance you crash and have to make a claim.

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Frequently Asked Questions

Who needs classic car insurance?

You need classic car insurance if you own an antique, collector, or vintage car that you keep in storage and don’t drive often. Some types of cars that might need classic auto insurance include muscle cars, hotrods, modified vehicles, kit cars, exotic cars, classic trucks, and vintage military vehicles.

Can you insure a classic car as a daily driver?

Car insurance companies that specialize in covering classic cars don’t allow you to insure a vehicle that you drive everyday. That doesn’t mean that you can’t get insurance for an older-model car that you drive everyday. You can, you’ll just have to get a regular insurance policy, and you may need to shop around.

Can I get classic car insurance while restoring my car?

Some companies offer policies specifically for vehicles under restoration. These policies increase the insured value of your car by a certain amount each quarter to reflect its improved condition. You also have the option of insuring the tools you’re using for the restoration.

Is it worth bundling your insurance policies?

If the company that provides your standard car insurance policy also offers classic car insurance, you may get a discount for bundling. And if not, it may be worth switching to a company that will let you bundle.

Methodology

Policygenius used online quoting systems provided by carriers to get sample quotes for a 1967 Ford Mustang. We used the following coverage limits to calculate the cost of full coverage for drivers:

  • Bodily injury liability: $100,000 per person/$300,000 per accident

  • Property damage liability: $100,000 per accident

  • Guaranteed replacement value: $25,000

Our sample vehicle was a 1967 Ford Mustang driven 1,000 miles/year. Our sample driver was a 30-year-old single male with a clean driving record living in ZIP code 06824. Rates provided are a sample of costs. Your actual quotes may differ.

Authors

Senior Editor & Licensed Auto Insurance Expert

Andrew Hurst

Senior Editor & Licensed Auto Insurance Expert

gray linkedin icon link

Andrew Hurst is a senior editor and a licensed auto insurance expert at Policygenius. His work has also been featured in The New York Times, The Wall Street Journal, Forbes, USA Today, NPR, Mic, Insurance Business Magazine, ValuePenguin, and Property Casualty 360.

Senior Editor & Licensed Auto Insurance Expert

Rachael Brennan

Senior Editor & Licensed Auto Insurance Expert

gray linkedin icon link

Rachael Brennan is a senior editor and a licensed auto insurance expert at Policygenius. Her work has also been featured in MoneyGeek, Clearsurance, Adweek, Boston Globe, The Ladders, and AutoInsurance.com.

Expert reviewer

Financial Advisor

Maria Filindras

Financial Advisor

gray linkedin icon link

Maria Filindras is a financial advisor, a licensed Life & Health insurance agent in California, and a member of the Financial Review Council at Policygenius.

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