Illinois Classic Car Insurance

classic car insurance illinois

If you own a classic car, you probably enjoy showing it off. But taking it out on the road also comes with a significant amount of anxiety. What if something happens to this prized, irreplaceable investment?

Classic car insurance in Illinois gives you peace of mind that, should something happen to your vehicle, you will have adequate funds to repair or replace it.

At Insurance Navy, we work with top insurance companies across Illinois to provide affordable coverage for collector cars. Contact us today to request a free quote in Chicago or the greater Illinois area and begin safeguarding your treasured vehicle.

Understanding Classic Car Insurance

Whether you own a vintage vehicle or a rare collectors car, it probably means more to you than a typical vehicle. While standard auto insurance policies cover the costs to repair or replace the average vehicle, they usually don’t provide the same protection for a vintage car. You need a special policy designed to cover your antique vehicle.

Classic car insurance in Illinois covers antique cars that are in good condition. If your car were to become damaged while driving it to or from an auto show, the policy would pay out a value you agreed upon when purchasing it.

Only certain vehicles qualify for these antique car insurance policies. Our licensed insurance agents can evaluate your circumstances to determine the perfect auto coverage.

Eligibility Requirements for a Classic Car Insurance Policy

The specific eligibility requirements your vehicle will need to meet depend on the company and policy. Insurance carriers offer a few different types of policies in this category:

  • Classic cars: For restored vehicles that are between 19 and 25 years old, in good condition, and more valuable than other vehicles of the same year, make, and model
  • Antique cars: For vehicles that are 25+ years old and in good working original or restored condition
  • Modified vehicles: For vehicles that have been changed from their original condition, such as with a new engine, body, or interior
  • Kit cars and replicas: For cars that represent assembled reproductions that are at least 25 years old
  • Military vehicles
  • Antique tractors
  • Retired commercial vehicles
  • Vintage race cars
  • Vehicles under construction

Many of these policies only allow you to drive the vehicle to and from auto shows. If you want to use your vehicle for everyday driving, you may need separate coverage.

Key Features of a Classic Car Policy

Classic car insurance coverage varies significantly from regular auto insurance. While you can alter the types of coverage included, these are the key features to expect in your classic car policy:

Agreed Value Coverage

Vintage vehicles are worth more than the sum of their parts. You want a policy to fully cover how much this vehicle means to you.

Collector car insurance policies typically provide a payout for a previously agreed-upon value of the vehicle. Underwriters determine the coverage by examining the true market value of the car in the event of a total loss.

This actual cash value is likely higher than what a regular car insurance policy would pay out to replace the vehicle. Many restored antique cars are worth more than brand-new versions of the same make and model.

Collision and Comprehensive Coverage

Classic car owners also need standard coverage options beyond liability insurance for their vehicles. Collision coverage pays to repair or replace the vehicle in the event that you collide with another vehicle or any other structure. Comprehensive insurance pays to repair damage not caused by a collision, such as due to theft or vandalism.

Personal Injury Coverage

Auto insurance policies typically extend only to the vehicles named in the policy. Even if your vintage vehicle isn’t your main driver, you need adequate insurance on it in case you become seriously injured in an accident. Personal injury coverage would pay for your medical bills and lost wages due to injury, regardless of who was at-fault.

Uninsured/Underinsured Motorist Coverage

Unfortunately, not all antique car owners adequately insure their vehicles. If another driver at a show causes an accident and does not have the proper coverage, an uninsured/underinsured addition to your insurance policy can help pay for your damage.

Additional Benefits of Classic Car Insurance

Our insurance agents and brokers want you to walk away with the best classic car insurance in Illinois. We will take the time to find the right car insurance policy at the right price while explaining how these added features can benefit your coverage.

Discounts Available for Classic Cars

You may qualify for a discount on your insurance premium if you meet certain criteria set by the insurer. These can include:

  • Clean driving record discounts, which lower your premiums if you go a designated time without being involved in an accident
  • Discounts for bundling multiple policies with the same insurance company, such as homeowners’ insurance in combination with standard insurance
  • Savings when you add more than one vintage vehicle to a policy compared to purchasing separate policies for each

Roadside Assistance Plans

Collector vehicles aren’t always in the best shape for driving. If you primarily keep your vehicle parked, you may worry about making it to and from auto shows in one piece.

While any insurance company will want your vehicle to be in drivable condition in order to insure it, a roadside assistance plan can provide additional peace of mind. This benefit gives you access to fast, free assistance from a mechanic if your vehicle ever breaks down on the side of the road.

Inflation Guard Features

While many classic car insurance companies base your coverage on the true market value of the vehicle, they may also offer an inflation guard. This would increase the limits by a specified percentage every year to account for inflation.

Restoration Coverage

When a vintage car becomes damaged in an accident, repairing it isn’t as easy as dropping it off at the closest body shop. You’ll need to work with highly skilled restoration professionals who can restore it to its former glory. We can include specialized insurance coverage on your policy that accounts for added restoration costs.

Safeguard Your Classic Car With Insurance Navy

Are you ready to protect your classic vehicle with a specialized insurance policy? At Insurance Navy, we take the stress out of finding the right coverage for your classic car. You’ll be ready to show off your wheels at the Chicago Auto Show.

Allow us to assess your vehicle and desired coverage, then quote you with the top insurance providers in the area to find the best deductible and insurance rates. Whether you’re into muscle cars or antique tractors, we’ll walk you through every piece of your collector car insurance coverage and help you make an informed decision. As an independent insurance agency, we shop around from the top insurance carriers to find you the best coverage at the lowest price.

Contact our insurance professionals online today for a quote and to learn more about our classic car insurance in IL.

Frequently Asked Questions

Is it more expensive to insure a classic car?

It may be more expensive to insure a classic car if the vehicle’s value is higher than a comparable modern vehicle. Classic cars are also more prone to breaking down than contemporary ones with added safety features. We can help you find the most affordable premiums.

How old does a car have to be to qualify as a classic in Illinois?

To qualify for classic car insurance in Illinois, a vehicle typically needs to be at least 25 years old and driven below a certain mileage each year. Requirements can vary by insurance policy.

Can you get full coverage on a 20-year-old car?

You can get full coverage on a 20-year-old car. Reach out to our friendly insurance agents to discuss full coverage options.