Top Classic Car Insurance Provider [2024]
The best classic car insurance companies can protect your investment for years to come. While it might be tempting to put a regular insurance policy on your vintage vehicle, standard coverage doesn’t protect classic cars as well as a specialized plan does. Classic car insurance includes agreed value coverage, which guarantees the total value of your vehicle. With many other perks, classic car insurance is the best coverage for your vintage vehicle.
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Heidi Mertlich
Licensed Insurance Agent
Heidi works with top-rated life insurance carriers to bring her clients the highest quality protection at the most competitive prices. She founded NoPhysicalTermLife.com, specializing in life insurance that doesn’t require a medical exam. Heidi is a regular contributor to several insurance websites, including FinanceBuzz.com, Insurist.com, and Forbes. As a parent herself, she understands the ...
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UPDATED: Jan 28, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Jan 28, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- Classic car insurance offers agreed value coverage is for the total value of your vintage vehicle
- Some companies offer plans that increase in value as time goes by to reflect the your classic car’s increased worth
- While some major insurance companies offer coverage for classic cars, it might be best to consider a provider that specializes in vintage vehicles
From the cars’ sleek curves to their powerhouse engines, many car-enthusiast Americans dream of owning a classic car. Vintage cars call us back to a bygone era and invoke a deep sense of nostalgia. From truly classic cars of almost a century ago to modern vehicles, owning one of these rides can be an exhilarating experience.
One thing that potential classic car owners often forget is insurance. Classic cars represent an investment. Unlike the average new car, classic cars tend to increase in value as years go on. You’ll need an auto insurance policy that can protect that investment.
Whether you have one or plan to purchase a vintage or classis car in your near future, you can find classic car insurance companies and quotes to meet your needs. If you’re ready to see what rates might look like for you, enter your ZIP code into our free tool.
The Best Classic Car Insurance Companies
The first thing to consider when it comes to insurance is the type of car and what you use it for. For example, if you’re part of the classic car show circuit, you won’t need the same coverage as a person who uses their car as their everyday ride.
You should also consider the company you want to buy from. Classic car insurance is regarded as a type of specialty insurance. Most of the largest companies offer classic coverage. Additionally, several providers are dedicated to covering vintage cars.
The company that will work best for you depends on what you use your car for and how much coverage you want to buy. You should browse our list of classic car insurance companies to get started.
Read more: What is the most common car in America?
Grundy Classic Car Insurance
Grundy Insurance was founded to provide coverage for vintage cars and is an excellent choice for owners who regularly drive their cars. Every company defines the age of a classic car differently – Grundy offers coverage for vehicles more than 25 years old.
While Grundy has multiple insurance plans, the best option for classic cars is the “Olde Original” policy, which includes:
- No deductibles. In most states, you can skip the deductible on your policy.
- Uninsured/underinsured motorist. Liability coverage is legally required in most states, but that doesn’t mean everyone has it. This protects your car from drivers with inadequate insurance.
- Liability. This coverage pays for damages you cause to cars and property.
- Collision coverage. Regardless of who’s at fault, collision helps pay for repairs to your car after an accident.
- Comprehensive coverage. Comprehensive covers damage from sources other than accidents, including weather, fire, floods, or vandalism.
- Agreed value guaranteed. Grundy will evaluate your vehicle and determine its value. If your car is totaled, Grundy will reimburse you its total value.
- Personal injury protection. While collision protects your car, personal injury protection will help pay your medical bills if you’re injured in an accident.
- Trip interruption. Grundy will pay up to $600 a day for meals and lodging if your car needs overnight repairs when you’re on a trip.
- Inflation guard. Most classic cars go up in value the older they are. This feature increases the value of your policy to match your vehicle.
- Towing and labor. Grundy covers $250 worth of towing and labor costs after an accident.
Grundy doesn’t advertise discounts, but this company does have a reputation for some of the most affordable classic car insurance on the market.
You don’t have to have a classic car to be a Grundy customer. Grundy offers regular car, collection, and boat insurance as well.
Hagerty Classic Car Insurance
Founded in 1984, Hagerty specializes only in classic and vintage cars. Hagerty covers cars used for pleasure drives, club functions, tours, and exhibitions.
Through Hagerty, you can purchase the following coverage:
- Flexible usage. Hagerty doesn’t limit how many miles you can drive during pleasure cruises. However, this doesn’t apply to daily use.
- Hagerty Plus. This upgrade to regular insurance includes roadside assistance. You can use this for tire changes, dead batteries, fuel deliveries, and if you lock yourself out of your car.
- Guaranteed value. If you purchase this extra coverage, Hagerty will reimburse the full value of your vehicle if it is declared a total loss.
- Instant new car coverage. Any new vehicle that you purchase will be covered by your policy for 30 days.
- Car show reimbursement. If you or a family member are injured during an auto show, Hagerty will cover up to $10,000 for your medical bills.
Hagerty is more particular than most other insurance companies about whom it will cover. You won’t be eligible for a policy if you have excessive speeding tickets, DUIs, or reckless driving incidents.
Safeco Classic Car Insurance
Safeco defines a classic car as any vehicle ten years or older. That gives you a lot more room to get a classic car policy than many other insurance companies. Safeco doesn’t care so much about the car’s age as they do about the car’s value.
You can purchase the basic Safeco insurance plan, but they also offer the following add-ons:
- Agreed value coverage. Your Safeco agent will determine a value for your car when you start the policy, and you’re guaranteed to receive that much back if your vehicle is totaled.
- Limited use. This is for drivers that put less than 5,000 miles on their car in a year. Your classic car insurance rates will be lower if you don’t drive your vehicle often.
- Diminishing deductible. Every year you remain claim free, Safeco will reduce your deductible by $100, up to $500.
- Roadside assistance. As the name implies, you will be covered if you’re ever stranded on the side of the road and need help.
- Emergency assistance. In addition to roadside assistance, you can have your taxi fare and lodging costs reimbursed when you’re stranded.
- Personal property. Safeco will reimburse you for the actual cash value of any belongings lost in a covered accident.
Like Hagerty, Safeco won’t insure high-risk drivers. However, customers do enjoy their online services and an easy-to-use mobile app.
Read more: Safeco Insurance Company of America Review
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Do you need classic car insurance?
Classic cars are both an investment and a fun hobby. While it might be tempting to get regular insurance on your vintage vehicle, you should consider buying classic car insurance.
Classic cars appreciate in value as they age, unlike most vehicles used every day. Your insurance policy should reflect your vintage car’s value. The most crucial aspect of a classic car insurance policy is the agreed value guarantee.
Agreed value is the amount your insurance company determines as your vehicle’s unique worth. With regular insurance, the coverage your vehicle would receive would be determined by the cost of similar models and the price of repairs.
When you have a policy specifically designed to protect your classic car, the total value of your vehicle will be reimbursed to you if it’s ever totaled.
Find the Right Classic Car Insurance Today
Whether you’re a classic car enthusiast or you bought your first vintage vehicle, classic car insurance will protect your investment for as long as you own it. From car shows to pleasure rides, the right policy will help you enjoy your car for years to come.
If you’re looking for affordable classic car insurance companies to protect your vehicle, you should shop around for quotes. If you want to see what quotes might look like for you, enter your ZIP code into our free tool today.
Frequently Asked Questions
What is considered the top classic car insurance company?
Determining the top classic car insurance company can vary based on individual needs, preferences, and specific circumstances. However, some widely recognized top classic car insurance companies include Hagerty, Grundy, American Collectors Insurance, and Safeco Classic Car Insurance. It’s recommended to research and compare multiple insurance companies to find the one that best suits your requirements for insuring your classic car.
How can I find the top classic car insurance for me?
To find the top classic car insurance for your needs, consider the following steps:
- Determine Your Coverage Needs: Assess the value and unique requirements of your classic car, such as agreed value coverage, mileage limitations, spare parts coverage, and coverage for restoration or modifications.
- Research Insurance Companies: Investigate the reputation, financial strength, and customer service of the classic car insurance companies you’re considering. Look for customer reviews, ratings from independent rating agencies, and information on claims handling specific to classic cars.
- Evaluate Coverage Options: Ensure the insurance company offers the specific types of coverage tailored for classic cars, including comprehensive coverage, liability coverage, and coverage for spare parts or accessories.
- Consider Stated Value or Agreed Value Policies: Evaluate whether the insurance company offers stated value or agreed value policies that accurately reflect the value of your classic car in case of a total loss.
- Check for Usage Restrictions: Inquire about any mileage limitations or usage restrictions imposed by the insurance company for classic car coverage.
- Understand Policy Terms and Conditions: Review the policy terms and conditions, including deductibles, coverage limits, and any exclusions or limitations that may affect your coverage.
- Compare Premiums and Discounts: Request quotes from different classic car insurance providers and compare premiums. Also, inquire about available discounts such as multi-car discounts, safe driver discounts, or club affiliations.
- Seek Recommendations: Consult with fellow classic car owners, classic car clubs, or trusted advisors who have experience with classic car insurance to gather insights and recommendations.
Are there any widely recognized top classic car insurance companies?
Several classic car insurance companies are widely recognized for their quality of coverage and specialized services. Some of these companies include Hagerty, Grundy, American Collectors Insurance, and Safeco Classic Car Insurance. However, it’s important to research and compare different providers to find the best fit for your specific classic car and requirements.
Does the top classic car insurance company vary by individual?
Yes, the top classic car insurance company can vary based on individual needs, preferences, and circumstances. Each classic car owner may have different requirements and considerations when it comes to insuring their vehicle. It’s important to assess your specific needs, research different providers, and compare their offerings to find the best classic car insurance company for you.
Can I insure my classic car with a regular auto insurance policy?
Insuring a classic car with a regular auto insurance policy may not provide adequate coverage for the unique needs of a classic car. Regular auto insurance policies typically focus on the depreciated value of a vehicle, whereas classic car insurance policies consider the collectible and historical value of classic cars. Classic car insurance policies often offer specialized coverage options, agreed value coverage, and other features tailored to classic cars.
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Heidi Mertlich
Licensed Insurance Agent
Heidi works with top-rated life insurance carriers to bring her clients the highest quality protection at the most competitive prices. She founded NoPhysicalTermLife.com, specializing in life insurance that doesn’t require a medical exam. Heidi is a regular contributor to several insurance websites, including FinanceBuzz.com, Insurist.com, and Forbes. As a parent herself, she understands the ...
Licensed Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.