Chelsey Tucker graduated with a Bachelor of History degree from Metropolitan State University in 2019. She now writes about insurance with her specialty being life insurance and has been quoted on Help Smart Phone and MEL Magazine.

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Dan Walker graduated with a BS in Administrative Management in 2005 and has been working in his family’s insurance agency, FCI Agency, for 15 years. He is licensed as an agent to write property and casualty insurance, including home, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com.

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Reviewed by Daniel Walker
Licensed Auto Insurance Agent

UPDATED: Mar 19, 2020

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A Guide to Classic Car Insurance

Are you looking for classic car insurance? Oh yes, you finally got that classic car you have always wanted but could never afford. You are now in pure heaven when you get behind that wheel and speed off.

You can find insurance quotes now by entering in your zip code!

The feel of those leather seats and the smooth outlines of the dashboard make you smile from ear to ear. This car and you were meant to be together! Now make sure that you have the insurance to protect your classic investment.

What is Classic Car Insurance?

What a sad end it would be if you were to get into an accident in your sweet ride without having car insurance! If you are a classic car enthusiast then finding top quality classic car insurance will be of the upmost importance to you. This is not just a car…but your pride and joy.

First, let’s be sure we have some of the basics of classic car insurance down. All car insurance companies vary in their definitions, but for many, a classic car falls between 20 to 45 years old. Cars that are older than that are often considered “vintage” or in the “antique” category.

Cars built in the very early 1900s are considered “veteran” and will be insured according to a slightly different procedure. Meanwhile, if you have a perfect red 1967 Pontiac GTO, 1969 Chevrolet Camaro, or a gorgeous 1970 Ford Mustang, then you have a “classic car” and will most likely fall into the classic car insurance category.

The next thing to consider while shopping for classic car insurance is “agreed upon value.” This will also play a major role in the price you pay monthly. Most cars today are insured based on the actual value of the car. That is kind of tricky to do with cars that were manufactured 25 or more years ago!

The agreed upon value is set at the time the policy is written. Common sense tells us the higher the agreed upon value, the higher the premiums will be. This is one of the most important aspects of your insurance, as this is the actual amount that will be paid to you if (heaven forbid!) your car gets totaled or stolen. Some companies even pay the agreed upon value if your car is lost to “acts of nature.”

No matter what type of classic car you have, or whether your car is even brand new, it’s always a smart idea to shop around and compare your coverage options. Enter your zip in to start right now!

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How Classic Car Insurance Works

When it comes to determining the agreed upon value of the car, some insurance companies require their own independent evaluator to examine the body and engine. It is important to know the price you want to insure the car for and then to find a company willing to work with you until you are satisfied with the coverage.

Look at these other factors too:

  • Find out if you can change the agreed upon value as time goes on. The value for some classic cars increases as the years go by, so you want a policy that is flexible. Be sure to factor in any rare accessories that you have had added to your car that may not normally be covered.
  • Ask your insurance agent whether or not you get coverage while your car is being shipped. For example, if you attend any overseas events or events where your car goes as cargo over state lines, then your car will need shipping insurance.
  • Find out about future restorations coverage, as well as damages sustained at a car show.
  • Verify any requirements for mechanics.

If that premium is now looking a little steep, take a deep breath and start thinking about discounts. The best thing you can do is ask the agent you are working with about any possible discounts. You never know unless you ask.

How About a Discount on Classic Car Insurance?

There are many discount you may be eligible for:

  • A limited mileage plan is one consideration. Most classic cars are secondary transportation and thus only go out and about on special occasions like auto shows and competitions. If you drive your classic vehicle less than 10,000 miles a year then a low mileage policy is definitely something worth looking into. Be sure to inquire about the cost if you exceed that amount.
  • Being prepared always helps to save you money! Another way to get a discount on classic car insurance is to increase your vehicle’s security. Keeping your classic car in a garage is a must.
  • Having security devices such as steel doors, alarm systems or even surveillance cameras installed can help you get deep discounts on your insurance policy. Classic cars are hot ticket items for thieves, so make sure your ride is safe and sound. In the end, this will give both you and your insurance company peace of mind.

Start your search for classic car insurance by going online and comparison shopping for the best available rates. Finding the right coverage will ensure that you stay a happy classic car owner for all your days. Start looking for classic car insurance quotes by entering your zip code now!