Best Classic Car Insurance Companies
Our guide to classic car insurance can help you find the best insurance policy for your needs and help you better understand how classic car insurance works. We reviewed classic car insurance companies and looked at their coverages, mileage restrictions, customer service and more.
The best insurance companies for classic cars
Several insurance companies specialize in classic car insurance. Many larger insurance companies also partner with classic car insurance companies to provide coverage.
We found Grundy, Hagerty, American Collectors and State Farm to be the best classic car insurance companies. Read on to learn why.
Grundy: best for coverage
Grundy is the largest insurer of hot rods and offers great coverage options. Grundy covers hotel and repair costs of up to $600 if your car breaks down during a trip, and up to $250 for towing and labor charges. You also get spare parts inventory coverage of up to $500. With Grundy’s Motor Vehicle Program, if your classic car is totaled, you can receive up to 150% of the insured amount if the current market value is higher than your coverage limit.
Hagerty: best for restoration
Hagerty partners with big-name insurers like Nationwide and Allstate and is great for restoration. Hagerty also offers flexible usage if you want to drive your vehicle for personal trips or leisure activities. It offers $750 of comprehensive coverage for your car’s spare parts, too.
If you’re restoring or building your vehicle, you can get more protection by adding Hagerty’s Vehicle Under Construction coverage. With this coverage, you can get automatic quarterly value increases of up to a maximum increase of $25,000.
American Collectors: best for customer service
American Collectors is the top-ranked insurance company and auto insurance agency on Trustpilot. Trustpilot is a review platform where customers of a product or service can review the company. American Collectors is also great for personalized coverage. Its Collector Auto Reimbursement and Expenses plan helps if your car ever needs towing or transportation. American Collectors also offers coverage if you’re restoring your vehicle.
State Farm: best large provider
State Farm is one of the few larger insurance companies that offers its own classic car insurance coverage. This makes it convenient if you already have home or auto insurance with State Farm. State Farm offers up to $500 of coverage for your vehicle’s spare parts.
State Farm also partners with Hagerty to provide its State Farm Classic+ coverage, which offers even more coverage. If you’re a State Farm customer, you can join Hagerty’s Drivers Club for $70 a year. This gets you 24/7 emergency roadside service, expert support, exclusive automotive offers and more. It is only available in Arizona, Connecticut, Illinois and Indiana, however.
Classic car mileage limits by company
Some insurance companies limit how many miles you can drive in a year, while others offer unlimited miles.
| Company | Mileage restrictions |
|---|---|
| Grundy | Unlimited mileage |
| J.C. Taylor | Unlimited mileage |
| Hagertyr | Flexible usage |
| American Collectors | Tailored mileage plans of 2,500 miles, 5,000 miles or up to 7,500 miles annually |
| Safeco | 10,000 miles per year |
| State Farm | Limited miles |
Some insurance companies like Erie and Safeco offer discounts if you drive fewer than a specific number of miles in a year.
What is classic car insurance?
Classic car insurance policies offer the same coverage as a standard car insurance policy. With a classic car insurance policy, however, you work with the insurer to agree on the value of your car if it’s ever totaled. Some insurance companies also limit the number of miles you can drive in a year.
The age of your vehicle determines if it’s a vintage, antique or classic car.
- Vintage cars: These cars are the oldest out of the three. They were typically made between the late 1910s to the early 1930s.
- Antique cars: Antique cars are often over 24 years old and made before 1975.
- Classic cars: A classic car is usually over 20 years old. Classic cars can include antique and vintage cars.
Am I eligible for classic car insurance?
Each state uses its own criteria to determine which cars are classic. Generally, your vehicle needs to be at least 20 years old to be considered a classic car.
Some insurance companies will make you keep your classic car in a garage or storage unit when you’re not using it. You also may need to keep it in excellent condition, and have another car for everyday driving.
How much does classic car insurance cost?
Classic car insurance is often cheaper than a standard car insurance policy. Premiums through classic car insurance companies like Hagerty, Grundy and J.C. Taylor can be 20% to 50% lower than the cost of a standard car insurance policy.
The value and usage of your classic car may affect how much you pay for classic car insurance. Look for discounts like a bundle discount to save money on classic car insurance.