Best Classic and Collector Car Insurance

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Best Classic and Collector 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.

Compare Classic Car Insurance Companies

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

Classic Car Insurance Company	Annual Mileage Limit	Customer Experience Rating
#1 Grundy Insurance	Unlimited	7.6
#2 Hagerty Insurance (Progressive and Nationwide)	Unlimited	8.1
#3 American Collectors Insurance (USAA)	From 1,000 to unlimited	7.7
#4 American Modern Insurance (Geico)	From 1,000 to unlimited	6.9
#5 Heacock Classic Insurance	6,000 miles	7.6
#6 Safeco (Liberty Mutual)	10,000 miles	8.4
#7 State Farm	Undisclosed; contact an agent	9.3

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Where Can I Find the Best Classic Car Insurance?

Next, we’ll take an in-depth look at our top five classic car companies and give you details about its reputation, coverage add-ons and more.

#1 Grundy Classic Car Insurance

Availability: 50 states
Year Established: 1947
Headquarters: Horsham, Pa.
Better Business Bureau (BBB) rating: B-

Grundy Insurance is an excellent choice for classic cars with rapidly increasing appreciation. The car insurance provider guarantees 100% of the vehicle’s value in a covered total loss scenario and allows policyholders to reevaluate their car’s agreed value as needed. We also like how it offers unlimited miles as long as you have a daily driver for everyday use.

The insurer offers the standard types of car insurance coverage — bodily injury liability, property damage liability, collision, comprehensive, personal injury protection, medical payments and uninsured/underinsured motorist.

The classic car insurer also offers spare parts coverage up to $500, trip interruption coverage up to $600 and towing and labor coverage up to $250. Grundy makes it easy to get a quote through its website, but your costs for coverage will vary depending on what you’re looking to insure with the provider.

#2 Hagerty Classic Car Insurance

Availability: Some coverage options may not be available in every state
Year Established: 1984
Headquarters: Traverse City, Mich.
BBB rating: A+

Hagerty Insurance offers more than just a classic car policy. The insurer also provides vehicle specialists to help you during any repair or replacement process and a top-notch community for car enthusiasts. Hagerty also insures motorcycles, military vehicles and vintage camper trailers.

Alongside the standard types of car insurance, Hagerty provides coverage for spare parts, trip interruptions, tools and roadside assistance. Drivers can also opt into the Hagerty Drivers Club^®, a membership service that offers several perks such as auto discounts, roadside assistance, auto-enthusiast events and more.

Progressive and Nationwide Classic Car Insurance

Hagerty is backed by Progressive. Rather than sell its own classic car insurance, Progressive offers policies through Hagerty. Nationwide has also partnered with Hagerty to offer classic car insurance to customers. 

This can provide peace of mind to drivers looking for a company with additional financial stability, and it can also be beneficial for drivers who want to bundle their classic car insurance with coverage for other vehicles through Progressive or Nationwide.

#3 American Collectors Insurance

Availability: 50 states
Year Established: 1976
Headquarters: Cherry Hill, N.J.
BBB rating: A

For classic cars, American Collectors Insurance offers agreed value coverage, vehicles in restoration coverage, spare parts coverage and automatic coverage for newly acquired vehicles. American Collectors Insurance holds accreditation from the BBB, as well as a notably high 4.9-star rating for customer satisfaction on Trustpilot.

The auto insurer also has a unique protection program called Collectors Auto Reimbursement Endorsement (CARE). This multi-tier plan provides roadside assistance, car show expense reimbursement, theft reward, accidental death and dismemberment insurance and more, depending on the level of coverage purchased.

USAA Classic Car Insurance

American Collectors Insurance is sold through USAA, one of the most reputable car insurance companies in the nation, and underwritten by American Bankers Insurance Company of Florida, American Reliable Insurance Company and American Security Insurance Company. Some of these insurers have an ‘A’ rating from AM Best, meaning they have a strong ability to meet customer claim obligations.

#4 American Modern Classic Car Insurance

Availability: 50 states
Year Established: 1938
Headquarters: Amelia, Ohio
BBB rating: A+ 

American Modern provides agreed value total loss settlements to policyholders, which we’ll discuss more in later sections in this article. It allows for vehicles insured with the company to be used in car shows, parades, car club exhibitions and even for driving to work if you choose to purchase such optional coverage.

We appreciate that this provider not only insures classic cars, but also insures specialty collector vehicles such as race cars, tractors, street rods and more. Its add-on coverages include roadside assistance, glass protection and foreign transport when overseas. 

American Modern currently holds accreditation with the BBB. However, customer reviews are sparse. Deductible options range from $0 to $10,000, and flexible payment options are available. 

Geico Classic Car Insurance

Like American Collectors, American Modern Insurance is partnered with a larger auto insurer — in this case, Geico. Geico is respected in the industry with an A++ rating from AM Best. This means you can get quotes for both standard and classic car insurance through Geico.

#5 Heacock Classic Insurance

Availability: 48 states (not available in Alaska or Hawaii)
Year Established: 1989
Headquarters: Lakeland, Fla.
BBB rating: A+

Heacock Classic Insurance is a great option for drivers looking for a good customer experience. The company holds a 4.9 out of 5.0-star rating on Trustpilot. Customers frequently praise the classic car insurer’s agents and their personalized service in reviews.

Heacock is underwritten by American Modern Insurance. It offers all standard types of coverage and includes roadside assistance at no extra cost with any auto policy. Spare parts coverage (up to $2,000) and agreed value coverage are also included.

It’s good to note that the insurer does not require any professional appraisals before offering coverage. A vehicle’s agreed value is decided between Heacock and the car owner.

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Collector Car Insurance

Classic car insurance isn’t the same as standard car insurance. Collector cars differ in value and use from daily drivers, so it makes sense that insurance is set up a bit differently. Let’s take a look at what it is and how it works.

What Is Antique Auto 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.

Agreed Value vs. Stated Value Car Insurance

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 these things into account:

• The car’s value over time
• The market interest in the vehicle
• The 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 Mileage Limits

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.

Car Insurance Annual Mileage by Company

Most classic and collector car insurance companies set mileage limits for vehicles. This includes the companies listed above. The best companies provide higher mileage or unlimited-mileage limits. But even companies with no mileage caps still set restrictions on how often you can drive your collector vehicle, so these limits aren’t truly unlimited.

As you’re shopping for collector car insurance, look for flexible mileage options if you drive your classic vehicle every day or weekend.

What Qualifies My Vehicle As a Classic or Antique Car?

Classic car qualifications vary from company to company. Most auto insurers define a classic car as between 10 and 20 years old, and antique or vintage cars to be older. However, some organizations consider vehicles 25 years or older to be classics as well. Other companies may give a date range for their vehicle coverage. 

Make sure to double-check what your insurance provider considers “classic” to ensure your vehicle’s eligibility.

Eligibility for Classic or Antique Car Insurance

Vehicle age is one part of the puzzle when it comes to classic car insurance. There are a few other factors an insurer considers when offering coverage. Below, we’ve listed commonly reported requirements for classic car insurance coverage:

• An alternative daily driver: Most auto insurers require drivers to own a commuter car for daily use to ensure a classic car is driven sparingly.
• Some form of protection: You may be expected to keep your classic car covered under a structure or in a garage.
• No racing allowed: Like standard auto insurance providers, classic car insurance companies want your vehicle to be as low of a risk as possible, so that means no racing.
• Driving experience: Companies like Hagerty ask that drivers have a minimum of 10 years of driving experience to purchase insurance coverage.
• Professional appraisals: Many auto insurers will ask to have a classic car appraised to set an agreed value.

Custom Car Insurance

Many classic car insurance companies can also cover customized cars like hot rods, replicas, muscle cars and more. We recommend speaking with an agent to see if your custom car qualifies.

Classic Car Insurance Coverage Options

Classic car insurance usually comes in standard coverage options, including:

• Bodily injury liability: Covers other drivers and their passengers if you’re at fault for an accident
• Property damage liability: Covers other vehicles’ repairs if you’re at fault for an accident
• Collision: Covers your classic car regardless of fault
• Comprehensive: Protects your car in the event of environmental damage, theft or vandalism
• Personal injury protection (PIP): Covers medical bills, lost wages and death benefits for you and your passengers, regardless of fault
• Medical payments (MedPay): Covers medical expenses for you and your passengers
• Uninsured/underinsured motorist: Protects you if you’re in a collision with a driver with too little coverage or no coverage at all

Other Classic Vehicle Insurance Options

Many classic car insurance providers offer additional coverage options like spare parts coverage, trip reimbursement coverage and coverage during restoration.

As previously mentioned, agreed value coverage is also available. This protection ensures that you receive the agreed-upon value of your classic car regardless of the vehicle’s current market value. Some insurers may provide auto show coverage as well, which covers you if a collision occurs while driving to an event.

How Much Does Classic Car Insurance Cost?

Classic car insurance costs are typically much less than traditional car insurance. Since you drive fewer miles overall in a classic car, there’s less risk for the insurance company. However, if you want to drive your ‘67 Camaro every day to work and back, you’ll pay more to use it as a daily driver.

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How To Get Classic Car Insurance

The best way to get classic and collector car insurance is to shop around and compare car insurance quotes from multiple providers, like the ones we’ve discussed above. As you’re comparing prices, you’ll want to consider the classic car you have, the coverage you might need and ways you can save on car insurance.

For example, a classic Porsche might benefit from higher annual-mileage limits and inflation guards if you’re driving it consistently. As you’re looking for ways to save on collector car insurance, here are some things you’ll want to look for:

• Car insurance discounts: Most auto insurers offer discounts for bundling policies, insuring multiple cars, having a luxury car, adding safety features and being an experienced driver.
• Lower deductible: Some classic car insurers offer high deductibles, which can help on savings if you want to be more self-insured. Other companies like Grundy offer no-deductible policies, so you wouldn’t pay any out-of-pocket repair costs.
• Inflation guard: This feature increases the protection limits for your vehicle at no extra cost as your car appreciates in value.
• Spare parts coverage: This coverage protects your car from theft or damage of replacement parts. Ideal for those with unique cars with hard-to-find parts, spare parts coverage is offered by most classic and collector car insurance companies at $500 or less, while some companies give higher benefits.

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Best Classic Car Insurance Companies: The Bottom Line

Any of the classic car insurance providers we’ve detailed above are excellent options for coverage. However, based on your needs and vehicle, it’s always a good idea to shop around for an auto insurance policy. Comparing multiple quotes ensures that you purchase an affordable insurance premium with the coverage you need.

Since classic car insurers also have different requirements, you may be eligible for one insurer’s coverage but not another. Make sure you’re well aware of classic car requirements when you request a quote for your collectible.

Classic Car Insurers: FAQ

Below are come common frequently asked questions about classic auto insurance companies, coverage, cost, eligibility and claims:

What is the best antique and classic car insurance?

Hagerty, Grundy, American Collectors, American Modern and Heacock provide the best car insurance for old cars. These companies are the best options for classic car insurance because of their fair rates, accessibility and experience in the industry.

Is Hagerty only for classic cars?

Yes, Hagerty only insures antique and collector cars, which is why it offers more competitive pricing than some other car insurance companies.

Can you insure a classic car as a daily driver?

If you want to use your classic car as a daily driver, you can insure it. However, since most classic car insurance policies come with low mileage limits, you’ll have to use a standard auto policy to cover it instead.

Is insurance for a classic car expensive?

Insurance for a classic car is actually often less expensive than standard car insurance since most drivers don’t use their classic car as a daily driver. However, classic car insurance also comes with strict mileage limits and other restrictions.

How old does a car have to be to qualify for a classic car insurance policy?

Most classic car insurance providers define a classic car as between 10 and 20 years old, and antique or vintage cars older. Some insurers consider vehicles 25 years or older to be classics. Other companies may give a date range for their car coverage. Hagerty only insures vehicles with the model year 1979 and older, for example.

Our Methodology

Because consumers rely on us to provide objective and accurate information, we created a comprehensive rating system to formulate our rankings of the best car insurance companies. We collected data on dozens of auto insurance providers to grade the companies on a wide range of ranking factors. The end result was an overall rating for each provider, with the insurers that scored the most points topping the list.

Here are the factors our ratings take into account:

• Cost: Auto insurance rate estimates generated by Quadrant Information Services and discount opportunities were both taken into consideration.
• Coverage: Companies that offer a variety of choices for insurance coverage are more likely to meet consumer needs.
• Reputation and experience: Our research team considered market share, ratings from industry experts and years in business when giving this score.
• Availability: Auto insurance companies with greater state availability and few eligibility requirements scored highest in this category.
• Customer experience: This score is based on volume of complaints reported by the NAIC and customer satisfaction ratings reported by J.D. Power. We also considered the responsiveness, friendliness and helpfulness of each insurance company’s customer service team based on our own shopper analysis.

Our credentials:

• 800 hours researched
• 45 companies reviewed
• 8,500+ consumers surveyed

*Data accurate at time of publication.