Best Classic & Collector Car Insurance Companies (2024) (2024)

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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 five picks for classic car insurance and collector car insurance. Most of these companies cover collector vehicles, antique cars and exotic cars as well.

Next, we’ll take an in-depth look at each classic car company 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.

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.

Grundy boasts an accredited A+ rating from the Better Business Bureau (BBB), indicating the company’s dedication to resolving customer complaints and issues. 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.

#2 Hagerty Classic Car Insurance

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

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 insures classic vehicles from 1979 and older.

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

Progressive Classic Car Insurance

Hagerty has an A+ rating from the BBB, though it’s unaccredited. However, the insurer is backed by Progressive. Rather than sell its own classic car insurance, Progressive offers policies through Hagerty. 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.

#3 American Collectors Insurance

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

For classic cars, American Collectors Insurance offers agreed value coverage, vehicles in restoration coverage, spare parts coverage and automatic coverage for newly acquired vehicles.

The auto insurer also has a unique protection program called Towing & Labor for Collectors (TLC). This multi-tier plan provides roadside assistance, car show expense reimbursem*nt, theft reward, cosmetic damage reimbursem*nt and more, depending on the level of coverage purchased.

American Collectors Insurance holds an A rating with accreditation from the BBB, as well as a notably high 4.9-star rating for customer satisfaction on Trustpilot.

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: 1965
Headquarters: Cincinnati

American Modern offers several included protections alongside the six traditional insurance coverages, such as:

• Agreed value loss settlement: Pays out the agreed amount for a classic vehicle in the event of a total loss
• Spare parts: Covers lost or stolen spare parts up to $2,000
• Towing: Pays up to $75 per occurrence
• Trip interruption: Covers up to $150 for lodging and other expenses if more than 50 miles from home
• Pet: Covers up to $750 in pet medical bills if a pet is injured in a collision
• New purchase: Covers any new classic vehicle (valued up to $50,000) for 30 days before a new policy kicks in

The insurer’s add-on coverages include roadside assistance, glass protection and foreign transport when overseas. American Modern does not have any BBB or Trustpilot ratings, but based on other review sites, its customer experience ratings are mixed. While the company may be a specialty insurer, it may not be the best option for customers looking for exceptional customer service.

Geico Classic Car Insurance

Like American Collectors, American Modern Insurance is sold through 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 Heaco*ck Classic Insurance

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

Heaco*ck Classic Insurance is a great option for drivers looking for a five-star customer experience. Though the company is unrated on the BBB, it holds a 5.0 out of 5.0 rating on Trustpilot. Customers frequently praise the classic car insurer’s agents and their personalized service.

Heaco*ck is underwritten by American Modern Insurance. Regarding its coverage options, Heaco*ck 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.

The insurer does not require any professional appraisals before offering coverage. A vehicle’s agreed value is decided between Heaco*ck and the car owner.

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.

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

Do You Need Classic or Antique Vehicle Insurance?

Classic car qualifications vary from company to company, making it hard to give an exact definition. 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. For example, Hagerty covers vehicles model year 1979 and older.

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: 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 a few standard coverage options, including:

• Bodily injury liability: Covers other drivers and their passengers if you are at fault for an accident
• Property damage liability: Covers other vehicles’ repairs if you are 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
  
• Full Coverage: Made up of liability insurance with collision and comprehensive coverage included

Other Classic Vehicle Insurance Options

Many classic car insurance providers offer additional coverage options like spare parts coverage, trip reimbursem*nt coverage and coverage during restoration. Customers can also get gap insurance for classic cars.

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 Is Classic Car Insurance?

Classic car insurance costs are typically much less than traditional car insurance. According to Progressive, classic car rates from Hagerty are about 34% less than standard car insurance rates.

Since you drive fewer miles overall in a classic car, there’s less risk for the insurance company. Now, 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.

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 listed 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:

• 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.
• 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. The graphic below shows some of the most common discounts offered by most insurance providers.

Any of the five classic car insurance providers listed 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.

Best Classic Vehicle Insurance: Recommended Providers

If you have a classic car collection or if your classic vehicle is your daily driver, you may want to deal with a company that specializes in classic cars. But if not, you may want to add your vehicle to a top insurance provider, like State Farm.

State Farm Classic Car Insurance

State Farm Insurance is one of our top overall insurance providers, earning our title for the Best Customer Experience. Drivers can also save on their insurance premiums with the State Farm Drive Safe and Save program. State Farm classic car insurance includes roadside assistance as well.

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.