Best Classic Car Insurance Companies (2025)
Classic car insurance works like standard car insurance but often costs less and includes an agreed value if you total your car.
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A car is considered “classic” if it’s at least 20 years old. If you own a classic car and plan to drive it, you’ll need to insure it. Classic car insurance is similar to traditional auto insurance in that it provides standard coverages, including liability, collision, and comprehensive.
But classic car insurance has its own set of eligibility requirements and specialty coverage options. For example, classic car insurance companies may impose mileage limitations, require you to store the car in a covered space, and exclude drivers with a history of accidents or violations.[?]
Comparing quotes from several insurers can help you find the coverage you need to ensure your classic car is protected.
Quick Facts
You need car insurance, even if you drive your classic car infrequently.
Some classic car insurers offer only collectible automobile insurance and won’t cover your primary vehicles.
Many classic car insurers provide agreed-upon value coverage that better reflects a classic car’s true value.
Best classic car insurance companies
You may already be familiar with some of the companies that offer classic car insurance, such as State Farm and Farmers. But a smaller niche company may be a better fit for your classic car.
For instance, Hagerty and American Collectors specialize in insuring only classic, antique, and collectible vehicles. American Modern is a specialty insurer that offers collector vehicle coverage, among other products.
See below for more details on each of these classic car insurance companies.
Hagerty
Hagerty is a national provider of specialty insurance, providing insurance for classic vehicles in all 50 states. Along with offering motorsport, business, and classic boat insurance, its classic vehicle products include coverage for cars and trucks older than 25 years, high-value vehicle collections, modified vehicles, tractors, scooters, and more.[?]
To qualify for coverage, you must use the car exclusively for pleasure driving or events, park it off the street, and have no serious driving infractions within the past three years.
For drivers who like to work on their classic cars, Hagerty offers the option to pay drivers to repair any covered damage themselves. But unlike some larger insurers, Hagerty’s classic vehicle coverage may not be available in every state.
Pros
Specializes in classic and collectible vehicles
Premiums are typically lower than for daily drivers
Up to $750 in spare parts coverage
Cons
Not accredited with the Better Business Bureau (BBB)
Driver eligibility requirements apply
Storage eligibility varies by state
American Modern
American Modern is a specialty insurance company offering collector car insurance, among other property and vehicle insurance products. You can buy coverage for muscle cars, classic cars, antique cars, race cars, Cobra replicas, fire engines, and more.[?]
When insuring your classic car with American Modern Insurance, you and the agent agree on its value and insure it for that amount. This agreed value prevents you from losing money if the market value of the vehicle decreases after you activate your policy.
Pros
Agreed-value coverage
Rated A+ (Superior) by AM Best
Available in all 50 states
Cons
Limited but low Trustpilot reviews
Low BBB customer rating
Coverage limited to vehicles in “good to pristine” condition
State Farm
Farmers
American Collectors
American Collectors offers classic vehicle insurance to owners with at least five years of licensed driving experience, a clean driving record, and a classic vehicle in good condition. It also requires drivers to store the vehicle in an enclosed space and not use it for racing or daily driving.
Along with classic vehicle insurance, American Collectors offers insurance for other vehicle types, such as classic trucks, exotic cars, and antique motorcycles.
Unlike some classic car insurers, American Collectors offers coverage options allowing classic vehicle owners to drive up to 7,500 miles per year. It also insures other collectibles besides automobiles, such as vintage books, wine collections, and sports memorabilia.
Pros
Higher mileage limit option
Tailored policies
Online policy management
Cons
Requires vehicles’ appearance to be maintained in very good condition
Must have a separate daily driver
Must store vehicle in a fully enclosed and locked structure
Data scientists at Insurify analyzed more than 40 million real-time auto insurance rates from our partner providers across the United States to compile the car insurance quotes, statistics, and data visualizations displayed on this page. The car insurance data includes coverage analysis and details on drivers’ vehicles, driving records, and demographic information. Quotes for Allstate, Farmers, GEICO, State Farm, and USAA are estimates based on Quadrant Information Services’ database of auto insurance rates. With these insights, Insurify is able to offer drivers insight into how companies price their car insurance premiums.
How classic car insurance works
Classic car insurance eligibility requirements vary from insurer to insurer. One may cap your annual mileage between 2,000 and 3,000, while another might offer coverage for up to 7,500 miles per year. Generally, though, many classic car insurance companies have similar requirements, such as:
The car must be a “pleasure” car and not a “primary” vehicle — one that you use on a daily basis for work, school, family needs, or running errands.
You must store your car in a covered space, like a garage or carport.
You must have had your license for a minimum period of time.
You may need a clean driving record or minimal infractions within a set number of years.
You may also need to prove that you have a primary vehicle in addition to your classic car.
You must have restored, maintained, or preserved your car or be in the process of doing so.
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Is classic car insurance required?
Classic car insurance is required if you plan on driving your vehicle. This includes Sunday drives, taking it to a car show, and even using it once a year during a town parade.
All states require every motor vehicle operated on a roadway to have a minimum amount of insurance. This mandatory insurance guarantees that you’re financially responsible for certain damages you cause while driving your vehicle.[?]
Driving a classic vehicle without the minimum state-required car insurance results in the same penalties and fees as doing so in a regular car. Of course, just like traditional car insurance, you can purchase additional optional coverage, such as comprehensive and collision, for your classic car to give it the level of protection you desire.
What classic car insurance covers
Nearly every state requires a minimum level of liability insurance for any car operated on a roadway. Some insurers also offer full coverage for classic vehicles, including the following:
Some classic car insurance companies offer spare/replacement parts coverage, including Farmers, American Collectors, and State Farm. Others offer even more extensive coverage. For instance, if you total your classic car, Hagerty’s Cherished Salvage coverage lets you keep your salvaged car after paying out the agreed-upon value.
Since classic car insurance is meant to cover cars that are primarily garaged, it comes with certain limitations. For example, classic cars used for commuting, ridesharing, or running errands aren’t eligible for coverage.
In addition, classic car insurance typically includes an agreed-upon payout limit. This is different from a standard car insurance policy, which pays based on the actual cash value of the vehicle when you file a claim.
How much classic car insurance do you need?
The amount of classic car insurance you need depends on how much your car is worth and how much you plan to drive it. You can purchase coverages similar to those from a standard car insurance policy, but a unique element of classic car insurance is the agreed-upon value.
Agreed-upon value is the amount you and your insurer agree your car is worth when you start your policy. Your car’s value doesn’t decrease over time, unlike that of a newer vehicle, and your car remains insured for this value throughout the policy.
Depending on how you use your car, you may decide on full coverage and higher liability limits. This coverage is ideal for drivers who enjoy taking their car out for occasional drives.
But if your vehicle leaves the garage only a few times a year for car shows, you may decide minimum-liability coverage is sufficient. Keep in mind that liability-only coverage won’t protect your classic car against theft, vandalism, fire, or weather hazards.
How old does a car have to be to qualify for classic car insurance?
Insurance companies don’t all agree on the age requirement to define a classic car. Insurers have different age requirements for insuring a classic car and break down these age ranges into distinct categories. For instance:
Hagerty doesn’t have a minimum age requirement but has other requirements regarding usage and storage, depending on the vehicle model.
State Farm considers vehicles between 10 and 24 years old to be classic cars and those older than 24 years to be antique cars.
American Collectors doesn’t have a minimum age requirement but has other requirements related to the car’s make, model, usage, modifications, and collectibility.
How much does classic car insurance cost?
The average cost of car insurance is $177 per month, or $2,126 per year, for full coverage, according to Insurify data. While a classic car owner may pay a similar premium, depending on the insurer chosen, the coverage selected, and their driving history, many drivers report paying far less for classic car insurance.
We requested sample quotes from several classic car insurers for a 1967 Chevy Camaro with an agreed-upon value of $30,000. American Collectors provided us with a quote of $28.02 per month for a full-coverage policy with $500 deductibles for comprehensive and collision coverage, medical payments, and 100/300/50 bodily injury and property damage coverage.
The same coverage through Hagerty is $31 per month. Aside from factors like make, model, and value, classic car insurance rates are often lower than standard car insurance because of the decreased risk of accidents and incidents.
Low annual mileage maximums, proof that you store the vehicle in a safe space, and evidence that you’re not using the classic car for daily needs are just a few requirements many classic car insurers have for policyholders. If a driver uses their classic car only for annual parades, for instance, their likelihood of being in an accident is far less than that of a driver with a daily commute.
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How to get the best classic car insurance
Classic car insurance may be different from primary car insurance when it comes to scope and eligibility requirements, but the ways you can save money on your policy are similar. Consider these tips to get the best car insurance for your classic car:
Bundle multiple policies. Larger insurers, like State Farm and Farmers, offer classic car policies as well as traditional auto, home, and life insurance plans. Bundling them can help you save overall.
Maintain a good driving history. Some classic car insurers require a driver to have a clean driving history. To increase your opportunity to find the lowest coverage available, keep a clean driving record on any vehicle you drive.
Shop around frequently. Car insurance rates vary from year to year. As an insurance agency changes its rates, discounts, and eligibility requirements, you may find more opportunities to save by switching insurers. Compare rates from multiple companies annually to see which can offer you the best coverage for your budget.
Expert Insights
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Mark Friedlander
Senior Director, Media Relations, Triple-I, Insurify
“We recommend consumers shop their insurance coverage at least annually,” says Mark Friedlander, corporate communications director at the Insurance Information Institute. “Auto insurance is the most competitive insurance market in the U.S. Insurers want to grow their market share, and prices can vary greatly between carriers.”
Classic car insurance FAQs
Whether you’ve purchased your first classic car or are looking to switch insurers, you may have questions about how to insure your classic vehicle. Here’s some additional information about classic car insurance that may help.
Which company is the best for classic car insurance?
State Farm, Farmers, Progressive, and Nationwide all offer classic car insurance. State Farm and Farmers offer classic car insurance under their own names, allowing drivers to maintain all their insurance needs under a single bundled policy. Progressive and Nationwide also offer classic car insurance through Hagerty, a well-known name in classic automobile insurance.
Is Hagerty only for classic cars?
Yes. Hagerty offers car insurance only for classic and collectible cars; it doesn’t offer insurance for everyday use driving or vehicles that are considered primary cars.
Are classic cars cheaper to insure?
Yes. On average, classic car policies have a lower premium than standard insurance policies. But rates fluctuate based on the insurer, coverage levels, vehicle insured, and your driving history.
Will Progressive insure a classic car?
Yes. Progressive insures classic cars through its Progressive Classic Car by Hagerty partnership.
Does State Farm offer classic car insurance?
Yes. State Farm’s Classic+ covers cars 10 years or older that are driven infrequently and are in good or better condition. Policies provide an up-front agreed-upon value and let you choose which repair shop to use — or you can make repairs yourself.
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