Auto Insurance for Antique and Classic Cars

Everyone notices a classic or antique car driving down the road.  These cars are unique, and thus need special insurance coverage; standard auto insurance does not necessarily provide appropriate coverage.

Special Insurance Requirements for Antique and Classic Cars

Some auto insurance companies offer policies specifically for your classic or antique car.   Purchasing classic or antique auto coverage will often cost less than standard auto insurance. This is because insurance companies view owners of classic or antique cars as serious drivers that take care of their vehicles. Additionally, classic car owners do not put as much mileage on their vehicles than other cars. So if you're insuring your classic vehicle, you're in luck!

The basic requirements for purchasing antique or classic car insurance include:

• The car must be older than 15-25 years (the number of years depends on the company).
• The car is for personal use and not for commercial transport.
• The car is not your primary vehicle.  You own another car that is used for daily driving.

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Different Auto Insurance Plans for Classic and Unique Cars

When you are ready to purchase insurance for your classic or antique car you’ll need to be familiar with the different types of coverage.  There are three main types of coverage:

• Actual cash value: the value of the vehicle decreases with age so that amount you would receive from the insurance company if your vehicle were damaged or stolen would also decrease with age
• Stated value:  the maximum amount an insurance company would pay if something were to happen to the vehicle, but it is not a guaranteed amount
• Agreed value:  the guaranteed amount that you would receive if your vehicle were ever stolen or totaled 

Beyond these three coverage types, some companies will offer additional coverage options, though these are the three main coverage options.

Auto Insurance Companies Providing Classic and Antique Auto Insurance

Some auto insurance companies offering classic car and antique auto insurance include:

• AON (aoncollector.com)
• AIG (aig.com)
• Hagerty Classic Insurance (hagerty.com)
• American Collector’s Insurance (americancollectorsins.com)
• Grundy Worldwide (grundy.com) 

There are several other insurance companies that also offer coverage for classic and antique cars.  However, if the company does not offer a specific policy for antique and classic cars, it is best to look for one that does.

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*Auto Insurance Options is a free information resource that provides content on auto insurance products and policies for informational purposes only, but is not an agency or insurer. Products and policies may not be available in all states.