Access Top Classic Car Insurance Companies in One Place 

Modifications have been made to my vintage car, will that be a problem for classic car insurance?

Generally this won’t be a problem as long as you have good documentation of the parts and labor costs related to the modifications.  Additionally, some insurance companies may ask for pictures of the modifications — and it’s always a good idea to have them ready to show off anyway!

Do all the drivers in my household need to have an everyday car?

Yes. Since your collector vehicle is not permitted to be driven as your regular everyday car, it’s required that each driver in the household have a car (other than the classic vehicle) to use for their routine driving.  

Can I drive my classic car over 2,500 miles per year

As a general rule, collector vehicles are not daily-driver vehicles. The good news, however, is that Notable Risk has great access to coveted specialist companies that understand that many classic-car enthusiasts want greater flexibility to drive their vehicles. While certain restrictions apply, your classic may be eligible for annual plans that permit 5,000 miles, or even up to 7,500 miles. For added flexibility, if your collector vehicle meets the eligibility requirements and annual mileage restrictions, you may be able to drive your classic to work during the summer season, as an example, for as many as 4 or 5 months out of the year!

Do you have access to classic drivers’ clubs if I obtain insurance through Notable Risk

Yes. We work with the top specialist collector vehicle insurance companies with clubs and there are affordable options to join.  Many of the clubs offer very attractive membership or club programs, with unique benefits like hotline access, collector magazines, VIP access to shows or events and more.

Will classic car insurance save me money compared to standard auto coverage?

In many cases, yes, you will save considerably on your annual premium, maybe as much as 30-40% compared to standard-auto insurance.  One reason for the difference is the more limited nature of the driving of a classic vehicle.

Simply because you drive your classic car less, however, doesn’t mean you should skimp on insurance coverage. In fact, it’s important to obtain robust coverage, including significant liability limits and uninsured/underinsured motorist coverage, to ensure that you are fully protected in the event of an accident.

Can you help me determine the value of my classic car?

Yes! The specialty insurance companies that we work with have great tools to assist in determining the value of your treasure. Since these companies are specialists, the data they provide can be very useful and important as you determine the agreed value of your classic car. 

Can a newer car qualify for specialist collector car insurance?

Not all cars have to be many decades old to qualify for classic-car insurance. Some companies will insure vehicles that were built in the 1990s, or newer.  These vehicles have to meet certain qualifications, however, such as having a minimum value, being in good condition and not being used as daily-driver vehicles.  Some examples may include a special convertible or limited-edition car.

Can a daily driver vehicle qualify for classic insurance?

Many top collector car insurers will require that each driver in the household have a personal auto for everyday driving. Some insurers might require proof that you have this primary vehicle for everyday commuting purposes while others may limit annual mileage allowances on your classic car policy. It’s essential to review any such limitations with Notable Risk before finalizing your choice of insurers.

Are there additional coverages like roadside assistance available with specialty-insurance companies?

Yes! Many of the additional coverages are affordable and offer great added benefits. One example, is 24-7 roadside assistance, with flatbed towing, which is available if your classic vehicle has to be towed to a repair shop of your choice.  Given the age and value of collector cars, standard towing can lead to damage to your vehicle.   Another great coverage to consider is cherished salvage which allows you to maintain your vehicle in the event of a total loss — your treasure is more than an investment.

What’s the difference between Classic Car Insurance and Standard Auto Insurance?

Coverage for classics is tailored to meet the unique needs and requirements of its enthusiast owners, as these vehicles often have significant historical value and are not typically used for everyday transportation.

Classic car insurance offers various benefits that differ from standard auto insurance policies. First, it takes into account the vehicle’s appraised value rather than its market value. Since classic cars tend to appreciate over time, this approach ensures that owners receive appropriate compensation if their vehicle is damaged or stolen. Moreover, classic car insurance provides options for agreed-upon value coverage. Instead of settling claims based on depreciated values like regular auto insurance does, agreed-upon value coverage allows policyholders and insurers to agree upon a specific amount before any potential loss occurs. This way, both parties can ensure that the vehicle’s true worth is protected. Another aspect unique to classic car insurance is flexible usage restrictions. While traditional auto policies often limit mileage and restrict usage patterns (such as commuting), classic car policies usually offer more flexibility since these vehicles are primarily used for pleasure driving or attending shows and events. Additionally, many classic car insurers provide specialized repair shop options that understand how to properly handle vintage automobiles with care and expertise. These preferred shops can assist in restoring damaged classics back to their original condition using authentic parts when available. 

For those interested in premium comparisons, due to the restricted usage and careful maintenance typically associated with collector vehicles, insurers often offer lower premiums compared to standard autos.

What factors influence the cost of classic car insurance?

Several factors can influence the cost of insuring your vintage car. Age, rarity, condition, storage arrangements (is it enclosed, locked and alarmed), and mileage restrictions (how often does it hit the road?) are all taken into account.

Insuring a classic car can frequently cost less than covering an everyday personal auto. Insurers believe that classic car owners are more likely to pamper their vehicles while driving infrequently, thus reducing the risk of accidents and leading to lower premiums

Do older cars appreciate in value?

The best unkept secret to making money with classics is all about maintenance. Keep them in top shape, and they’ll not only retain their charm but also increase in value. It’s not just about cleaning and repairs; preserving original parts and features is key. 

A study by the Knight Frank Luxury Investment Index (KFLII) found that vintage cars outperformed art, wine, coins, and even real estate over 10 years.

What is the difference between vintage and antique and classic?

While carriers can differ, ‘vintage’ applies mainly to those made between 1919-1930. Cars older than this are termed ‘antiques’.

What’s the key difference in terms of how standard autos and classic cars are valued for insurance purposes? 

The primary distinction lies in how they assess the value of your vehicle. A regular policy takes into account the actual cash value (ACV), which considers depreciation. On the other hand, classic car insurance operates on an agreed value basis – you and your insurer agree upon a specific worth for your vehicle at the beginning of the policy.

Will classic insurance companies insure young drivers?

When it comes to young drivers seeking classic car insurance, several factors come into play. Insurance providers typically consider age, driving experience, and the type of vehicle being insured when determining premiums. Younger drivers are generally considered riskier due to their limited experience behind the wheel, which can lead to higher rates compared to more seasoned motorists. Insurance companies also take into account how these vintage cars will be used by young drivers.

Some providers may restrict usage to pleasure driving only or impose mileage limits per year as a way to mitigate potential risks associated with daily commuting or long-distance travel. To obtain classic car insurance as a young driver, it’s crucial to demonstrate responsible behavior on the road. Maintaining a clean driving record free from accidents or traffic violations can help secure favorable rates from insurers.

For vintage car coverage, will I be required to maintain my vehicle in a locked garage? 

Classic insurance companies want to know that you are protecting your vintage vehicle carefully, and how you store it is an important component.  Some providers will require that the vehicle be kept in an enclosed and locked garage, or at least in a secure covered area.  In fact, some classic car insurance applications will inquire if your garage has an alarm and whether it is locally or remotely monitored.

While a locked, alarmed and enclosed garage is ideal, many leading carriers, like Hagerty Insurance, will consider other parking arrangements including pole barns, parking garages, carports and even the driveway.

Why do classic car insurance companies want vehicles to be garaged? 

A proper garage helps safeguard your valuable investment from potential risks such as thefts, vandalism or weather-related issues from snow, hail or sun exposure. It also helps prevent potential damage caused by dust accumulation or accidental bumps. 

Ideally, a garage should provide secure parking with controlled access points along with climate control features like temperature regulation and humidity control systems.  They may also provide security measures like surveillance cameras or alarm systems to deter thefts and unauthorized access.  

Also, a well-equipped garage allows you to properly maintain your classic vehicle by providing ample space for repairs or restoration projects. It should have the appropriate tools and equipment necessary for maintaining vintage cars so that you can carry out routine maintenance tasks effectively. 

Some specialty garages offer services beyond storage; they might have skilled mechanics experienced in working on vintage vehicles who can perform maintenance tasks or repairs if needed. These professionals possess knowledge about specific parts required for older models that may not be readily available elsewhere.

When choosing a garage facility for your cherished automobile storage, it is essential to consider factors such as location, security measures, and reputation. Look for garages with a track record of serving classic car owners and providing reliable services.

Who are the best classic car insurance companies?

We are not the authority on best, but here is a list of great classic car insurance companies that cater to vintage automobile enthusiasts:

1. Hagerty: Known as one of the most reputable and well-known providers in the space, Hagerty offers specialized coverage for classic cars, including agreed value policies and flexible usage options.

2. Grundy Insurance: With over 70 years of experience, Grundy Insurance provides customizable coverage plans for classic cars, offering features like flexible mileage and no deductible for comprehensive claims.

3. American Collectors Insurance: This company, another leader, specializes in insuring collector vehicles and offers various policy options tailored to meet the specific needs of classic car owners.

4. J.C. Taylor: J.C. Taylor has been providing insurance solutions for antique and specialty vehicles since 1965, offering agreed value coverage, spare parts protection, and even coverage during restoration projects. 

5. Safeco Classic Car Insurance: Safeco’s classic car insurance program provides specialized protection with agreed value policies, flexible annual mileage limits, optional roadside assistance, and more.

6. Condon Skelly: Focusing on insuring collectible vehicles since 1967, Condon Skelly offers customizable policies designed to protect vintage cars against damage or theft while also considering their appreciation in value over time (i.e. agreed value coverage!).

7. Heacock Classic Car Collector Insurance: Heacock is known for its expertise in protecting valuable collector cars through tailored insurance plans that include flexible usage allowances and guaranteed flatbed towing services (an often overlooked benefit!).

8. American Modern Collector Car Program: American Modern’s dedicated collector car program provides customizable coverages such as stated-value policies along with additional benefits like automatic inflation guard protection.

9. Chubb Collector Car Insurance: Renowned for its high-end clientele service approach since 1882, Chubb offers comprehensive insurance packages that cater to luxury automobile owners (including those who own vintage treasures!).

While this list is not exclusive, it’s a very good start! 

What are the exclusions from classic car insurance?

Here are 12 common exceptions from coverage you might run into when obtaining classic car insurance for a vintage treasure:

1. Daily Use: Classic car insurance typically assumes limited usage, so using your vehicle as a daily driver will likely not be covered under any vintage car policy. Insurance companies usually expect these cars to be used for pleasure driving or special occasions rather than regular commuting (particularly if it’s on a regular basis).

2. Mileage Restrictions: Many classic car policies impose mileage limitations on how much you can drive your vehicle annually. Exceeding these set limits will often result in reduced coverage or even denial of claims.

3. Storage Requirements: Classic cars often have specific storage requirements outlined by insurers, such as keeping them in locked garages or secure, covered facilities when not in use. Failing to meet these conditions could impact your coverage.

4. Modifications and Customizations: Some classic car insurance policies exclude coverage for modifications or customizations made to the vehicle beyond its original specifications unless they are declared and approved by the insurer beforehand.

5. Racing Events: If you plan on participating in racing events with your vintage car, standard policies do not provide coverage during those activities due to their high-risk nature.

6. Inadequate Security Measures: While it may be driven by your classic car value, insurers often require certain security measures like immobilizers, alarms, tracking devices, or steering wheel locks to protect against thefts and break-ins. Any failure to install these security features might restrict your rights to make claims related to theft or vandalism incidents.

7. Uninsured/Underinsured Motorist Coverage (UM/UIM): Some classic car policies may exclude UM/UIM coverage which protects against damages caused by drivers who lack sufficient insurance themselves. Fortunately, most providers will offer this very important (!) extra protection.

8. Age Restrictions: Some insurers impose age restrictions on drivers covered under a classic car policy — something that is not often found on a standard auto policy. For example, they may require all drivers to be at least 25 years old with a clean driving record.  

9. Wear and Tear: Normal wear and tear over time is generally not covered by classic car insurance policies (and standard auto policies for that matter!) as they focus more on protecting against sudden accidents or unexpected damages rather than gradual deterioration caused by regular use.

10. Lack of Maintenance: Neglecting routine maintenance tasks such as oil changes, tune-ups, brake checks, etc., can lead insurers to deny claims related to mechanical failures resulting from inadequate upkeep.

11. Non-Original Parts: If your vintage car has non-original parts or components that were not available when the vehicle was manufactured, they may be excluded from coverage under a traditional classic car insurance policy.

12. Intentional Damage: Deliberate acts causing damage to your own classic car are not covered by insurance policies.

It really is important (!) that you take the time to carefully review any potential exclusions with your insurance agent and carrier when obtaining classic car coverage.