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Car Insurance for Classic Cars: What You Need to Know

If you own a classic car, you know how much joy and satisfaction it can bring. Whether you use it for cruising, showing, or collecting, a classic car is a valuable and cherished asset. But do you also know how to protect your classic car from damage, theft, or liability? In this article, we will explain what is a classic car and why it needs special insurance, compare the types of classic car insurance policies and providers, and give you some tips on how to qualify and save money on classic car insurance.

Types of Classic Car Insurance

Not all car insurance policies are created equal. Standard car insurance policies are designed for regular cars that are driven daily and depreciate over time. Classic car insurance policies are tailored for classic cars that are driven occasionally and appreciate in value. Here are some of the key differences between standard and classic car insurance:

  • Coverage: Standard car insurance policies typically cover the actual cash value of your car, which is the original cost minus depreciation. This means that if your car is totaled or stolen, you will only get what it is worth at the time of the loss, which may be much less than what you paid for it. Classic car insurance policies usually cover the agreed value of your car, which is the amount that you and your insurer agree on when you buy the policy. This means that if your car is totaled or stolen, you will get the full amount that you insured it for, regardless of depreciation or appreciation.
  • Options: Standard car insurance policies offer the same coverage options for all cars, such as liability, collision, comprehensive, medical payments, and uninsured/underinsured motorist. Classic car insurance policies may offer additional coverage options that are specific to classic cars, such as spare parts, roadside assistance, trip interruption, auto show medical reimbursement, and no attendance required. These options can provide extra protection and convenience for your classic car needs.
  • Benefits: Standard car insurance policies have certain limitations and restrictions that may not suit your classic car lifestyle. For example, they may limit how many miles you can drive your car per year, require you to use specific repair shops or parts, or charge you extra for towing or storage. Classic car insurance policies may offer more flexibility and benefits for your classic car enjoyment. For example, they may allow you to drive your car as much as you want, choose your own repair shop or parts, or include towing or storage in your policy.

There are many classic car insurance providers in the market, each with their own features and advantages. Some of the most popular ones are Hagerty, Grundy, American Collectors, Heacock Classic, and J.C. Taylor. You should compare their coverage options and benefits carefully before choosing the one that best suits your classic car needs.

How to Qualify for Classic Car Insurance

Not every old car is a classic car. Classic car insurance providers have certain eligibility criteria that your car must meet in order to qualify for their policies. These criteria may vary by provider, but generally they include:

  • Age: Your car must be at least 15 to 25 years old, depending on the provider and the type of vehicle. Some providers may also accept newer cars that are rare or have limited production.
  • Condition: Your car must be in excellent condition and well maintained. It must not have any major modifications or alterations that affect its appearance or performance.
  • Usage: Your car must be used primarily for pleasure or hobby purposes, such as cruising, showing, or collecting. It must not be used for daily driving, commuting, or business purposes.
  • Storage: Your car must be stored in a secure and enclosed garage or facility when not in use. It must not be parked on the street or exposed to weather or vandalism.

In addition to meeting these criteria, you also need to get an appraisal and documentation for your classic car. An appraisal is a professional assessment of your car’s value based on its condition, rarity, history, and market demand. You can get an appraisal from a qualified appraiser who specializes in classic cars. Documentation is any proof of your car’s authenticity and ownership history, such as title, registration, bill of sale, receipts, photos, certificates, awards, or manuals. You should keep these documents in a safe place and update them regularly.

To qualify for classic car insurance, you also need to maintain and protect your classic car properly. You should follow the manufacturer’s recommendations for servicing and repairing your car. You should also clean and wax your car regularly to prevent rust and corrosion. You should avoid driving your car in bad weather or road conditions that may damage it. You should also install security devices such as alarms, locks, or trackers to deter theft.

How to Save Money on Classic Car Insurance

Classic car insurance is usually cheaper than standard car insurance because classic cars are driven less and have lower risk of accidents or claims. However, there are still some ways to lower your classic car insurance premiums even more. Here are some of them:

  • Join a club: Many classic car insurance providers offer discounts to members of classic car clubs or associations. These clubs can also provide you with valuable information, resources, and networking opportunities for your classic car hobby.
  • Take a course: Some classic car insurance providers offer discounts to drivers who complete a defensive driving course or a driver education program. These courses can help you improve your driving skills and reduce your chances of getting into accidents or violations.
  • Bundle your policies: Some classic car insurance providers offer discounts to customers who buy multiple policies from them, such as home, auto, or life insurance. This can also simplify your billing and claims process.
  • Shop around: Classic car insurance rates may vary by provider, location, vehicle, and other factors. You should compare quotes from different providers and see which one offers the best coverage and price for your classic car needs.

While saving money on classic car insurance is important, you should also be aware of some pitfalls and risks that may increase your costs. For example, you should avoid making any modifications or alterations to your car that may affect its value, appearance, or performance. These may void your policy or increase your premiums. You should also report any accidents or claims to your provider as soon as possible. Failure to do so may result in denial of coverage or cancellation of your policy.


Owning a classic car is a rewarding and enjoyable experience. However, it also requires special care and protection. By understanding what is a classic car and why it needs special insurance, comparing the types of classic car insurance policies and providers, and following some tips on how to qualify and save money on classic car insurance, you can ensure that your classic car is well covered and ready for the road.

If you are interested in getting a quote or more information on classic car insurance, please contact us today. We are experts in classic car insurance and we can help you find the best policy for your classic car needs.

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