Best Auto Insurance for Classic Cars

State Farm’s history of low rates and customer satisfaction make it a popular choice for standard car insurance, and it’s also a solid option for your classic vehicle. You can choose from a range of insurance coverages and get up to $500 coverage for your car’s spare parts.

Many Available Coverages

State Farm offers many of the same coverages for classic and antique vehicles as it does for standard vehicles. Available coverages for a classic car include the following.

• Liability: This covers medical bills and property damage the other party sustains if you cause an accident.
• Medical payments: This covers medical costs for you and your passengers in the event of an accident.
• Uninsured/underinsured motor vehicle (UIM): This includes damages that a driver with no or inadequate insurance causes, including hit-and-runs.
• Collision: This covers damages your vehicle sustains in a collision.
• Comprehensive: This covers other losses your vehicle sustains, including theft (assuming your vehicle is properly stored in an enclosed building, as outlined in your policy).
• Emergency road service: This includes towing, tire changes, and lockouts.

Fair Insurance Payouts

With a standard car insurance policy, your provider will pay you the actual cash value of your car in the event of a total loss. The actual cash value accounts for depreciation and the book value of a car. But classic cars are often one of a kind, which means they don’t have a “book value,” and they appreciate in value over time, not depreciate.

Your State Farm agent will work with you to determine an agreed-upon value for the car. You and your agent will weigh factors like age, condition, and type of car to arrive at a value. The higher the value, the more your policy will cover. If something happens to your car, you will receive the full value of the car.

For example, if you agree on a value of $50,000 for your 1955 Chevrolet Bel Air and it’s stolen, you’ll receive a $50,000 payout, minus any deductible. On a standard insurance policy, you’d receive the cost of a replacement vehicle minus depreciation and any deductible.

To help their teams better understand the value of classic cars, State Farm built a “Split Camaro” for training purposes. One side of the Camaro is yellow and is restored to factory specifications, while the other half represents what someone might build in their garage at home.

The company created the vehicle to better understand the cost of modifications someone might make to their car, and how modifications affect the car’s value. That way, its underwriters can determine an accurate insurance value for a modified vehicle. In other words: if you put money into modifying your vehicle, your insurance policy will reflect that.²

Top-Notch Customer Service

State Farm’s customer service is available around the clock; you can speak with a representative 24 hours a day to handle your classic car insurance needs. State Farm also received a customer satisfaction rating of 847 out of 1,000 from J.D. Power, which is above the 835 overall customer satisfaction rating.³

What sets Allstate apart is the wide range of vehicles that are eligible for its classic car insurance. And like other solid classic car insurers, Allstate works with you to determine an agreed-upon value for your vehicle, taking into account factors like current market value, condition, improvements you’ve made, and the potential need for special-order parts.

Many Qualifying Vehicles

According to the Insurance Information Institute, most vehicles that are eligible for classic car insurance are between 25 and 30 years old.⁴ However, some people only consider a car “classic” if it is from the 1970s or earlier.

Many insurers have minimum requirements on how old a car must be to qualify for classic car insurance. These requirements may prevent you from insuring a vehicle that would benefit from classic car insurance — for example, because you don’t drive it every day, it maintains or depreciates in value, or it’s of special interest or limited availability.

Allstate is unique in that, in addition to covering regular antiques and classics, it also offers classic car protection for a variety of other vehicles:

• Modified vehicles and custom builds
• Muscle cars, hot rods, and replicas
• Modern classic rides from the 1980s, 1990s, and 2000s
• Sports cars and race cars
• Vehicles under restoration and custom builds
• Classic SUVs and trucks
• Antique tractors
• Retired fire trucks
• Old military vehicles

Flexible Claim Service

Having a good relationship with your mechanic can help you feel comfortable trusting them with your classic ride. This is especially important if your car is not only a source of pride but also an investment. Allstate offers a flexible claim service, so if your car needs work done, you can choose where it’s repaired.

Protect Related Property

For many, owning a classic car is a hobby that involves restoring a car as a project. Allstate gives you the option to add endorsements to your policy so that you’re protecting not only your car but your tools. Additionally, you may be able to add coverage for items related to the classic, like antique gas pump displays, hood ornaments, and old license plates.

USAA has a long history as one of the best auto insurance for military members, veterans, and their families. It partners with American Collectors to offer insurance for classic cars.

Inflation Guard

Because classic cars increase in value over time, the value of your car when you buy the policy might not be the same if and when you need to file a claim. USAA’s inflation protection increases the agreed-upon value of your classic vehicle over time, at no extra cost. That way, in the event of a total loss, you will receive the full value of your car, taking inflation into account.

While most classic car insurers increase your protection limits by up to 4 percent of the car’s value, USAA offers inflation protection up to a maximum of 6 percent.

Towing and Labor for Collectors

USAA gives you the option to purchase American Collectors’ roadside assistance coverage for your classic car, which pays for emergency expenses in the event of a breakdown or accident. This extra coverage comes in different tiers. You’ll receive reimbursement up to covered limits for a number of emergency expenses, including some that are specific to classic cars.

Tiered Mileage Options

Most classic car insurers have limits on how much you can drive your vehicle. USAA gives you the option to choose how much you can drive your car each year. You can select from limits of 2,500, 5,000, and 7,500 miles. The higher the mileage, the more you pay.

Founded in 1923, Safeco is a popular choice for classic car owners. Unlike many other insurers, Safeco lets you use a classic car as your primary vehicle, so it’s a great choice if you want to cruise around town in your classic ride regularly. Like all of our top picks, Safeco works with you to agree on the value of your vehicle.

Coverage for Everyday Driving

One of Safeco’s strengths is its mileage policy options, which allow you to use your classic car for daily errands, commuting, and even road trips. If you choose regular use coverage, you can drive your car up to 10,000 miles each year, or an average of 27 miles each day.

If you only take your classic car out for occasional trips, Safeco may still be a good choice. If you opt for restricted-use coverage, you can drive your vehicle up to 5,000 miles each year and qualify for lower rates.

Customizable Policies

In addition to typical coverages like liability, uninsured/underinsured motor vehicle, comprehensive, and collision, Safeco offers add-ons and supplemental coverages.

Bundles and Discounts

• Accident prevention: If you take an accident prevention course, you’ll get a discount that lasts for a minimum of three years. (Note: In most states, you’ll need to be at least 55 years old to qualify.)
• Low mileage: If your annual mileage is less than 5,000, you’ll get Safeco’s limited use rate.
• Bundling across cars or policies: Safeco does not require that you insure a regular car on the same policy, but if you do, you’ll qualify for a multi-car discount. You can get a multi-policy discount if you insure a boat, RV, home, or motorcycle as well.

In addition to offering standard insurance, Progressive partners with Hagerty to offer protection for classic cars. Customers have the option to join the Hagerty Driver’s Club, a paid membership service that offers discounts, roadside services, classified listings, events for car enthusiasts, and more.

Great for Restorations

Progressive is a great option for hobbyists who enjoy restoring their classic cars. Most companies offer $500 in spare parts coverage, but Progressive ups the game with $750 in coverage. This protection covers theft or damage to replacement parts, and it’s useful if you have a rare model or a car with parts that are difficult to find in particular.

In addition to paying for the spare part, Progressive helps you find it. Whenever possible, it offers to stock original replacements rather than aftermarket ones, and it employs specialists to track down rare parts. Progressive includes this coverage at no extra cost with your policy. In addition, Progressive is one of a few companies that will write you a policy for a car at any stage of restoration.

Multiple Discounts

Progressive offers a couple of different ways to save on your classic car insurance.

• Multiple classic vehicles: You’ll get a reduced rate if you add two or more vehicles to your policy, making Progressive a good option for collectors.
• Bundle standard and classic: You can get a discount if you bundle your regular car’s policy with your classic car’s.

No Fixed Mileage

Progressive is one of a few insurers that have no fixed mileage limits, meaning you can take your classic car out for a spin without worrying about the odometer impacting your premiums. It’s a good option if you take your ride to trade shows, exhibitions, or conventions that are far from home.

Keep in mind that you cannot use your classic car for your everyday driving needs. If you do, and you get into an at-fault accident, Progressive may deny the claim. To qualify for a classic car policy, you must own a regular car as well, even if Progressive doesn’t insure it.