FAQs
Qualifying for classic car coverage
Limited use – Your classic car cannot be used for everyday commuting or errands, and your policy may include mileage limitations and proof the car is being properly garaged if you do travel with it. In some cases, insurers may require that you also own a primary car for everyday use.
What are limitations to classic car insurance? ›
Qualifying for classic car coverage
Limited use – Your classic car cannot be used for everyday commuting or errands, and your policy may include mileage limitations and proof the car is being properly garaged if you do travel with it. In some cases, insurers may require that you also own a primary car for everyday use.
What's the best insurance for a classic car? ›
Hagerty, Grundy, American Collectors, American Modern and Heaco*ck provide the best car insurance for old cars. These companies are the best options for classic car insurance because of their fair rates, accessibility and experience in the industry.
Why is classic car insurance so cheap? ›
Yes, older cars are cheaper to insure than newer cars in most cases because older cars are less valuable, so an insurer won't have to pay out as much in the event of a total loss. Plus, once an old car falls below a certain value, you may not have to pay for comprehensive and collision insurance anymore.
How many miles can you drive a classic car per year? ›
Classic car insurance policies have a limited use provision. This only allows use of the car for travel to auto shows and auto club meetings. Typically, insurers place a maximum annual mileage restriction for antique car insurance. This varies by state but usually doesn't exceed 7,500 miles per year.
Is full coverage worth it on classic cars? ›
It's usually worth dropping full coverage on an older car if its value is less than a few thousand dollars, as long as there's no loan on it. The more your car depreciates, the less you'll get from the insurance company after an accident or theft.
What are the risks of owning a classic car? ›
What are some of those risks? Well, classic cars are unique, which means the risk of theft or scam is higher. For example, after participating in a vintage car show, you will want to take necessary precautions to make sure your car gets safely put inside the garage and not in the hands of a thief.
How to insure a classic car as a daily driver? ›
What kind of insurance do I need for my classic daily driver? You'll need standard auto insurance for your daily driver classic car. That's because specialized classic car insurance typically requires the insured vehicle to not be driven daily.
Which insurance is best for an old car? ›
A Third-Party Car Insurance Policy is mandatory, be it a new or old car. But you can consider buying the Comprehensive Insurance Policy for your old car as it provides all-round coverage for your car.
Did State Farm buy Hagerty? ›
Fintel reports that State Farm Mutual Automobile Insurance has filed a 13G/A form with the SEC disclosing ownership of 50.00MM shares of Hagerty Inc - Class A (HGTY). This represents 60.09% of the company.
Rather than only covering your older car up to its depreciated value, classic car insurance provides coverage up to an "agreed value," which can factor in any restoration work completed and market demand for the vehicle.
How old is a classic car? ›
The starting classic car age range can generally be anywhere from a minimum of 10 to 25 years old, but there's no agreed-upon minimum age that categorizes a car as a classic. Insurance companies, car collecting clubs, and state BMVs and DMVs all have their own methods for defining a classic car.
What age is car insurance most expensive? ›
Young drivers ages 16 to 24 tend to have the most expensive car insurance. Drivers in this age group are often inexperienced and are more likely to get into car accidents and file insurance claims. As a result, car insurance companies often charge higher premiums to young drivers.
Who has the best classic car insurance? ›
Best Classic Car Insurance Companies of 2024
- American Collectors – Best for Annual Mileage Limit Options.
- American Modern – Best for Occasional Commuting.
- Leland-West – Best Overall Classic Car Insurance Company.
- Chubb – Best for OEM Parts Repair.
- Hagerty – Best for Restorations.
- Condon Skelly – Best for Lay-Up Discount.
How long do classic car engines last? ›
It depended on the specific engine - a well-maintained Ford or Chevy small-block V8 could often clock 150 thousand miles without a rebuild (along with the Ford inline 6 models from the 1960s), while the 4 cylender engines usually were doing good to manage 100 thousand and the VEGA 140 was notorious for cracking it's ...
What does Hagerty classic car insurance cover? ›
Hagerty's Classic Car Insurance
Standard Classic Car Insurance coverages include Collision, Comprehensive, Uninsured/Underinsured Motorist, Medical Expenses and Personal Injury Protection.
What qualifies a car to be a classic? ›
Though the exact definition of “classic car” differs by state, the Car Club of America classifies this type of vehicle as a “fine” or “distinctive” automobile assembled between 1915 and 1948. California describes a “classic car” as a vehicle that is at least 25 years old.
How long until a car is considered a classic? ›
The starting classic car age range can generally be anywhere from a minimum of 10 to 25 years old, but there's no agreed-upon minimum age that categorizes a car as a classic. Insurance companies, car collecting clubs, and state BMVs and DMVs all have their own methods for defining a classic car.
Can you insure a classic car as a daily driver? ›
If you drive your classic car every day, you'll need a standard auto insurance policy rather than classic car insurance. Explore Progressive Answers' auto editorial guidelines to find out why you can trust the car insurance information you find here.
Why would you likely not need comprehensive insurance on a very old car? ›
That's because your maximum payout—which is the value of the car minus your deductible amount—will likely be extremely low and not worth the insurance cost over time. Owners of classic and vintage cars usually have special considerations. Owners of these vehicles typically have classic car insurance.