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Classic Car Insurance for Collector Cars

There’s nothing quite like the feeling of cruising down the street in a classic car you’ve lovingly restored. However, if you’re in an accident or a natural disaster strikes, your joy will quickly turn to despair!

While you can’t get back the time and effort you put into caring for your classic cars, if you have classic car insurance coverage, you’ll at least be able to get the money you need to fix the damage. However, when it comes to classic car insurance, many classic car owners have more questions than answers.

Do you really need classic car insurance for a collector car? And how do you make sure you have the right coverage?

Classic Car Insurance - Do You Need it for your Vintage Car?

This is the number one question that classic car owners have. While traditional vehicle insurance may cover some expenses, it’s unlikely to cover the full value of your classic car.

Here’s why: When traditional auto insurance companies determine how much to reimburse the owner of a classic car, they base their numbers on the actual cash value. This is based on the auto’s age, mileage, and depreciation.

However, classic cars or vintage cars that have been restored or customized are likely worth far more than their depreciated value. For this reason, it’s important to make sure you have additional coverage to help pay for the cost of repairs if your classic car suffers damage.


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Both classic car insurance and traditional insurance have standard coverage that includes:

  • Collision insurance
  • Comprehensive insurance
  • Property damage insurance
  • Body injury liability insurance

The primary difference is that classic car insurance provides reimbursement based on an amount agreed upon between the classic insurance provider and the vehicle owner. Since well-cared-for classic cars often appreciate over time, rather than depreciate, it’s also possible to increase your classic car insurance coverage over time.

Another issue is that it’s typically more expensive to repair and restore a damaged classic car than it is to make the same repairs on a modern vehicle. Having the right amount of classic car insurance and the right types of insurance will ensure that you’ll get the money you need to find and replace even the most obscure and expensive classic auto parts from quality manufacturers.


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Does Your Collector Car Qualify for Classic Car Insurance?

It’s not difficult to qualify for classic car insurance. However, there are some important guidelines you’ll need to meet before you can purchase this special type of classic auto insurance. This applies both to the vehicle and to the driver.

Classic Car Insurance Coverage Qualifications

First, it’s important to note that age alone isn’t enough to make a car a classic. If your older car is a veritable rust-bucket that has seen far better days, you’ll likely have some trouble getting classic car insurance.

The specific requirements may vary from one classic insurance provider to the next, but most require the following minimum qualifications.

Collector Cars Age

Generally, to qualify for classic car insurance, your vehicle must be 10 to 20 years old. If it’s 25 or more years old, it will actually fall into the antique, vintage, or custom car category. Hotrods, Muscle Cars, Vintage trucks and SUVs, and Custom cars are some examples. In some rare cases, exotic cars like a Lamborghini or a Ferrari may qualify as a collector car even if it’s new.

Condition of the Classic Car

Most classic car insurance companies expect the classic vehicles they cover to be well-maintained. In some cases, they’ll cover a vintage car that’s in the process of being restored. However, if it’s deemed that the vehicle doesn’t show “pride of ownership,” then you may not be able to obtain collector car coverage.

Use of the Classic Car

Classic car insurance isn’t meant to cover a primary vehicle. The level of restriction will vary from company to company. Some are broader, allowing for average “occasional use,” while others will strictly forbid drivers from using the vehicle for things like running errands or driving to work. Usually, you will be restricted to driving less than 5k miles per year.

Storage of the Collector Car

In most cases, your classic car insurance company will require you to store your classic car or truck in a locked garage. In some cases, you may get permission for storage in driveways or carports, but you can expect your collector car premiums to be much higher.

Classic Car Insurance Driver Qualifications

Even if your car qualifies for collector car insurance, you’ll still have a few more hoops to jump through. The classic car insurance company also wants to know more about the history of the driver they will insure.

In most cases, they’ll require the classic cars owner to be at least 25 years old and have a minimum of 5 to 10 years of driving experience. A clean driving record with no accidents or major violations in the past three to five years will also help.

You’ll also need to show that you have a separate vehicle for regular use.


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What to Look for in Classic Car Insurance?

When shopping for collector car insurance, one of the most important terms you’ll need to know is the agreed value. This is the amount you’re insured to get (minus the deductible) if your car is totaled.

You may also want to add restoration coverage for your collector car, which boosts your guaranteed value during restoration. Some classic car owners also choose to add coverage for the replacement of lost or stolen parts.

Make sure to ask your insurance agent to explain these terms in any policy you’re considering and help you ensure you get the right amount of collector car coverage. Also consider getting a bundle with your traditional car insurance policy to save money on your car insurance rates.


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Get an Affordable Classic Car Insurance Quote

While classic car insurance is a necessity, it doesn’t have to be overly expensive. Insurance Navy offers a wide variety of options and will help you find a policy you can afford to get you back behind the wheel. We're an Automobile Insurer with over 15 years of automotive market experience insuring classic cars.

Our Insurance Agents are standing by to take your call 24/7. Contact us to get an affordable auto insurance quote and get insured today or to ask us some of your frequently asked questions or FAQs!

Classic Car Insurance is only a click away with Insurance Navy

Get a Quote for your Classic or Collector Car Online or Call Insurance Navy™ Today at 888-949-6289

Please review your own policy carefully for details on your classic insurance coverage. Coverage options vary by insurance companies and their policies.

*This product may not be available in every state, please call an agent for more information.