Best Car Insurance for Classic Cars & Restorations

Classic car insurance is less common than regular car insurance. There are a lot of companies that offer coverage for your daily driver, but there are more companies specializing in classic cars. Don’t worry, our experts have compiled a list of the best classic car insurers according to their services, coverage, and benefits. To determine which classic car insurance coverage is offered, check each provider’s specifics.

Best overall Classic Car Insurance: American Modern

Basic auto insurance normally only covers collision and comprehensive damage. When you have your car stolen or totaled, you will only receive its market value instead of what you paid for it. American Modern’s auto insurance is much more comprehensive. Theft and damage to spare parts are also covered along with the market value of your car. There is a $2,000 coverage amount, which is four times more than the average $500 provided by most insurance companies.

Most accidents and damages to your classic car are not covered if you don’t have a policy specifically for antiques or classic cars. American Modern partners with some institutions and organizations that collect classic cars, such as museums and car clubs, to offer flexible mileage plans to fit their specific needs.

American Modern underwrites policies for Geico, so you may also be eligible for a bundling discount if you have another unrelated insurance policy.

Best for Restoration Cars: Hagerty

We explored three companies offering coverage for restoration projects at any stage of completion. Hagerty is the company you’re looking for, because they provide 750-dollar spare parts coverage is higher than average, and there is no mileage limit. Because Progressive classic car insurance is underwritten by Hagerty, you could receive a discount for bundling.

Hagerty is more than just the leading provider of classic car insurance. Carcierge, a 24/7 roadside assistance and concierge service, can help you with everything from replacement parts to finding local repair services.

Hagerty is a company that’s built a reputation for providing classic car insurance for a wide range of cars. It could be anything from that classic Thunderbird convertible you inherited from your grandfather to that precious 1963 Pontiac GTO your parents scrimped and saved for. Hagerty covers almost any type of classic car, motorcycle, tractor, military vehicle, and even antique boat.

Best for Daily Drivers: Safeco

With Safeco’s regular use insurance, you can drive up to 10,000 miles per year. If you drive your car frequently, go on a lot of road trips, or drive long distances, this might be a good option. If you have further questions about driving your vehicle, contact your insurance provider.

There are a few restrictions with Safeco Classic Car insurance. Vehicles insured by Safeco must be at least 10 years old, limited production modern classics less than 10 years old, and antique cars at least 25 years old. Neither Safeco nor its policies cover kit cars, racing cars, or cars that haven’t been restored.

FAQs about Classic Cars

How old does a car have to be to be considered a classic?

In order to register and insure your Classic Car as a Classic, it must be at least 20 years old, but not more than 40 years old. If you are going to register it and insure it as a Classic, it should be kept in its original design and specification.

How many miles can you drive on Classic Car Insurance policies?

Although there are many different insurance companies and each caters to different demographics, you generally will have more mileage limitations when you purchase a classic car insurance as opposed to a regular auto insurance policy. An annual mileage limit of between 5,000 and 10,000 miles per year is standard for classic car coverage.

Is Classic Car Insurance cheaper than regular insurance?

Classic car insurance is usually much cheaper than regular car insurance. According to TheZebra, a classic car policy costs around $200 to $600 annually. If you own an abnormally expensive vehicle, your rates may be higher.