1. Home

Vintage Car Insurance: How to Protect Your Classic Investment

Discover how vintage car insurance can protect your classic car. Learn about coverage options, eligibility, and tips for safeguarding your investment.

Save hundreds today by comparing quotes from the nation’s top insurance companies

shield No junk mail. Instant results. Always free.

ProgressiveLiberty MutualRoot
The GeneralAmerican FamilyElephant
Amani Turnage

shieldWhy You Can Trust EverQuote

EverQuote powers millions of shopper requests every month, teaming up with industry-leading insurance specialists to address real-world challenges faced by people every day. We partner with the largest insurance providers in the nation, and our content is carefully crafted by experts and reviewed by licensed insurance agents for accuracy and relevance.

While the world might be moving on to driverless cars, many of us are still holding onto our love for vintage cars. If you have a classic or vintage car, regular insurance might not give you the protection you need. Car insurance for vintage cars is tailored to protect your investment, covering your vehicle's unique value and usage. Below, we'll walk you through what this insurance involves and how to find the best policy for your classic car.

Understanding Classic Car Insurance

Classic car insurance caters to vehicles that hold historical value, are restored to their original condition, or are rare collectibles. The policies typically offer agreed-value coverage, where you and the insurer decide on the car's value upfront and may even include coverage for restoration work.

Eligibility Criteria for Classic Car Insurance

Insurers set specific eligibility standards for classic car insurance. Generally, the vehicle must be a certain age and maintained in good working condition. Here are some common criteria:

  • Usage: Restricted to recreational use, exhibitions, or car shows. Daily commuting disqualifies the vehicle.
  • Mileage restrictions: Annual mileage is usually limited to ensure the vehicle remains in preserved condition. Common caps are 2,500, 5,000, and 7,500 miles.
  • Storage: The vehicle must be kept in a locked, secure location to minimize the risk of damage or theft.

Vehicle Specifications for Classic Car Coverage

Vehicles seeking classic car coverage need to meet certain specifications:

  • Condition: Cars in excellent or restored condition are often eligible, along with vehicles actively undergoing restoration. 
  • Authenticity: Preference is often given to vehicles that maintain original parts, though some policies accommodate customized or modified cars.
  • Age of vehicle: Most vintage car insurance companies require the car to be at least 25 years old, though some may insure vehicles as young as 10 years old if they are considered rare or collectible.

Driver Requirements for Vintage Car Insurance

Driver qualifications can also influence coverage eligibility:

  • Age and experience: Most insurers require drivers to be at least 25 years old with a minimum number of years of driving experience.
  • Primary car ownership: You must own another primary vehicle for daily use, showing the classic car is used sparingly.
  • Safe driving record: A record free of DUIs, excessive speeding tickets, or recent accidents is generally required for coverage approval.

Review the insurance requirements of your state:

Types of Classic Car Insurance Coverage

Just like with how standard car insurance works, you can pick from different types of coverage.

Comprehensive coverage

This covers several risks like theft, weather damage, and fire. Comprehensive coverage is often considered essential since classic cars often have unique parts that are tough to replace.

Collision coverage

This makes sure your car is covered for damages from accidents, no matter who's at fault. It's especially important for collector cars with high restoration costs.

Liability coverage

This kicks in if you're in an at-fault accident, covering legal fees, medical expenses, and property damage. Liability coverage is required by law in almost every state.

Benefits of Specialized Classic Car Insurance

Your classic car deserves more than a standard insurance policy for older cars, which will probably overlook its true value. With specialized classic car insurance, you get agreed value coverage, making sure you're covered for the full amount you and the insurer settle on while avoiding the depreciation that comes with actual value coverage. Plus, it typically includes spare parts coverage, which is crucial given how hard it can be to find vintage car parts.

You also likely enjoy lower premiums since these cars aren't on the road every day and are well-kept. However, what really sets these policies apart is the expertise of the insurers in handling classic cars, which translates into top-notch care and claims handling for your vehicle.

Choosing the Right Insurance Provider

When checking out providers of classic car insurance providers, you should focus on those that specialize in vintage vehicles. They usually offer agreed-value coverage, flexible mileage options, and perks like spare parts protection. Also, be sure to look into the insurer’s customer service and reviews of its claims record.

While you can gather all the policies and quotes on your own, it can be pretty time-consuming and confusing. For an easier way to compare multiple policies and optimize the price of your car insurance options, try using EverQuote’s online tool. It helps you quickly get quotes from several providers and compare them side by side, making it easy to choose the best coverage for your classic car.

Maintaining Classic Cars for Insurance Compliance

Insurers often request documentation proving that the vehicle receives routine servicing. Stay on top of oil changes, tune-ups, and other maintenance checks recommended by your mechanic or owner's manual. 

Besides regular upkeep, here are some best practices for storing your classic car:

  • Store it in a dry, climate-controlled space.
  • Keep a car cover on to shield it from dust and debris.
  • Elevate or rotate the tires now and then to avoid flat spots.
  • Use moisture absorbers inside to prevent mold and mildew.
  • Use a battery maintainer to prevent battery drain during downtime.

Pros and Cons of Classic Car Insurance

Here's an overview of the benefits and potential trade-offs associated with classic car insurance:

ProsCons
Tailored coverage for vintage valueStorage requirements
May include spare parts protectionPotentially limited insurer options
Usually lower premiumsStrict eligibility criteria
Special event coverageTypically requires a secondary vehicle

Making Informed Decisions for Your Classic Investment

Investing in the right insurance for your vintage car means considering more than just the cost. You'll want to weigh the benefits and limitations of each coverage option, as well as the requirements for maintaining your policy. Ideally, your specialized coverage will help you worry less about the "what-ifs" and allow you to focus on enjoying your classic car for years to come. 

FAQs

What is the age requirement for classic car insurance?
+
Most insurers require cars to be at least 25 years old, though some may cover younger vehicles if they are deemed rare or collectible.
What is the difference between classic car insurance and standard car insurance?
+
Classic car insurance uses agreed-value coverage and includes special benefits, while standard insurance typically covers the vehicle's depreciated market value.
What are some discounts available for classic car insurance?
+
Limited mileage, secure storage, and car club memberships are common discounts provided by insurers.