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Icon CheckLast updated: October 17, 2022

Best Auto Insurance for Classic Cars

Find the best protection for your passion project.

Best Overall
State Farm Logo

State Farm offers a number of coverages for classic vehicles, including collision and comprehensive coverage, uninsured/underinsured motorist coverage, emergency road service, and more.

Best for Variety of Vehicles
Allstate Logo

Allstate shines because it offers classic car insurance for a range of qualifying vehicles, including modern classics (from the 1980s, 1990s, and 2000s), custom builds, and modified vehicles (e.g., kit cars), old military vehicles, antique tractors, and even retired fire trucks.

Classic cars are more than a way to get around; they can be a source of joy, pride, and community. Maybe you fixed up a vehicle yourself, or maybe you purchased it restored after carefully searching the market. Whether it’s an investment, a passion project, or some combination of the two, you want to protect your classic car — but not every insurance company will cover you.

Classic cars differ from ordinary vehicles, so they require specialized insurance. When classic cars need repair, finding the right parts and skilled labor is more difficult. And because these cars gain value over time, rather than depreciating, insurance adjusters can’t determine their values easily.

Classic car insurance reflects the value of a classic vehicle. We’ll walk you through insurance companies that offer classic car insurance, whether you’re a daily driver or want mileage restrictions.

Comparison of the Best Classic Car Insurance Companies

Category #1. State Farm #2. Allstate #3. USAA (American Collectors) #4. Safeco #5. Progressive (Hagerty)
What it’s best for Overall Variety of qualifying vehicles Inflation protection Frequent drivers Restoration projects
Spare parts coverage $500 Not specified $500 Not specified $750
Annual mileage limit 2,500 Not specified 2,500, 5,000, or 7,500 5,000 or 10,000 None (but you cannot use a classic car as your primary vehicle)
Roadside assistance Policy add-on Policy add-on Membership plan Policy add-on Membership plan (Hagerty Driver’s Club)
Everyday use allowed No No No Yes No
Agreed value Yes Yes Yes Yes Yes
Stated eligibility requirements for vehicle At least 10 years old and has historical interest

Fully restored or actively undergoing restoration

Stored in an enclosed building

Not specified Not used for timed events or racing, or for driver’s education

Collectible value

Stored in an enclosed, locked garage

At least 10 years old, or a limited production

Rebuilt to at least 50% (restored to original condition if the vehicle is 25 years or older)

Certain vehicles (e.g., kit cars) excluded

Adequate storage (garage or storage unit preferred, but driveway, carport, or other storage may be acceptable)
Our full review State Farm review Allstate review USAA review Coming Soon Progressive review

Summary of the Best Auto Insurance for Classic Cars

  1. 1.

    Best Classic Car Insurance Overall: State Farm

  2. 2.

    Best Classic Car Insurance for Variety of Qualifying Vehicles: Allstate

  3. 3.

    Best Classic Car Insurance for Inflation Protection: USAA

  4. 4.

    Best Classic Car Insurance for Frequent Drivers: Safeco

  5. 5.

    Best Classic Car Insurance for Restoration Projects: Progressive

Detailed List of the Best Auto Insurance for Classic Cars

1. Best Classic Car Insurance Overall - State Farm

What We Like Most:

  • Local agents
  • Rideshare insurance available
  • Discounts for having multiple 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.

ProsWho It's Best For
  • pro
    Low-mileage drivers of classic cars
  • pro
    People who want fair payouts
  • pro
    People looking for solid customer service
  • pro
    Drivers seeking roadside assistance coverage
ConsWho It's Not Best For
  • con
    High-mileage drivers
  • con
    People who own unconventional or newer classic cars
  • con
    Owners of investment vehicles, as State Farm does not offer inflation guard
  • con
    Customers who want to bundle their classic car insurance, as State Farm does not offer this option (though it promises it will soon)1

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.

TIP


A good classic car insurer will work with you to reach an agreement on a price for your vehicle.

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

2. Best Classic Car Insurance for Variety of Qualifying Vehicles - Allstate

What We Like Most:

  • Low rates for teen drivers
  • A+ rating from AM Best means financial stability
  • Great customer service

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.

ProsWho It's Best For
  • pro
    Enthusiasts who own unconventional collectible cars, as Allstate offers collector car insurance for a range of vehicles
  • pro
    Customers who want to choose where their car is repaired
  • pro
    Collectors and restorers looking to insure not only their cars, but also tools and memorabilia
  • pro
    Infrequent drivers looking for well-priced insurance
ConsWho It's Not Best For
  • con
    Classic car owners looking for inflation guard, as Allstate does not offer this protection
  • con
    Military members, who can find better rates elsewhere
  • con
    High-risk drivers (like many insurers, Allstate requires a clean driving record to insure a classic car)

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.

3. Best Classic Car Insurance for Inflation Protection - USAA

What We Like Most:

  • Lowest rates for military members, veterans, and their families
  • Rideshare insurance available
  • Usage-based insurance available for low-mileage drivers

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.

ProsWho It's Best For
  • pro
    Owners who want to protect their investment, as USAA offers best-in-class inflation protection
  • pro
    Customers looking for roadside assistance coverage options
  • pro
    Drivers who like to take their classic ride out for a spin, as USAA offers higher mileage options
  • pro
    Collectors with multiple vehicles, who will benefit from USAA’s automatic coverage offering (most qualifying vehicles you add to your collection will be covered up to $100,000 for 30 days)
ConsWho It's Not Best For
  • con
    Households who share a car, as every licensed driver in the household must have at least one regular-use vehicle on the policy in addition to the classic car
  • con
    Drivers who want to use their vehicle for racing, timed events, or driver education

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.

Service What it covers Covered limits in Silver plan Covered limits in Gold plan Covered limits in Platinum plan Covered limits in Titanium plan
Towing In the event of an emergency, you can hire any towing service and receive reimbursement. $100 $150 $250 $350
Roadside assistance If your classic car breaks down (e.g., flat tire, dead battery, out of gas or oil), you’ll receive a reimbursement for the cost of getting it to run again. $50 $100 $150 $200
Lockouts You will receive reimbursement if you need to use a professional locksmith service for your classic car. $50 $50 $50 $100
Emergency travel expense If you’re more than 50 miles away from home and your classic car breaks down, you’ll get reimbursed for expenses (including meals, lodging, and car rental) for up to five days. N/A $250 ($50 per day) $500 ($100 per day) $750 ($150 per day)
Car show expense If an accident or a mechanical breakdown causes you to miss a car show, you’ll get reimbursed the car show fee (if it’s nonrefundable) and for your hotel. N/A $100 $150 $200
Theft reward In the event your classic car is stolen, American Collectors will help you recover your car by offering a cash reward for information that leads to its return. N/A $2,500 $5,000 $5,000
Cost per month N/A $9.95 $24.95 $34.95 $79.95
Cost per year N/A $119.40 $299.40 $419.40 $959.40

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.

4. Best Classic Car Insurance for Frequent Drivers - Safeco
Safeco Insurance Logo

What We Like Most:

  • Average rates are half the national average
  • Customizable coverages and add-ons
  • Backed by Liberty Mutual, ensuring its financial stability

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.

ProsWho It's Best For
  • pro
    Frequent drivers who want to use their classic vehicle as their primary mode of transportation
  • pro
    People who want to customize their classic car insurance policies
  • pro
    Customers looking to save money through bundles and discounts
  • pro
    People who aren’t sure how much they’ll drive their classic cars, as Safeco has different mileage limit options
ConsWho It's Not Best For
  • con
    People who own ineligible vehicles, as Safeco has stricter limits on what counts as a classic car (it only insures vehicles that are 10 years or older, limited production modern classics less than 10 years old, and antique cars that are 25 years or older)
  • con
    Owners of kit cars, racing cars, cars with jet or nitrous oxide, and vehicles restored less than 50 percent

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.

DID YOU KNOW?


According to the Insurance Information Institute, many insurers do not allow you to use your classic car for everyday driving.

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.

Add-on What it does
Diminishing deductible For every year you don’t file a claim, Safeco reduces your collision deductible by $100, up to a maximum of five years or $500.
Personal property coverage In the event of a covered loss, Safeco pays for any personal property that needs replacing as a result.
Roadside assistance Safeco’s 24-hour roadside assistance will help you in the event your classic car breaks down, including jumpstarts, tows, and fuel delivery.
Emergency assistance In addition to the benefits of roadside assistance, you’ll receive reimbursement for expenses like lodging and taxis, and protection for items in your car like tools and spare parts.

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.
5. Best Classic Car Insurance for Restoration Projects - Progressive

What We Like Most:

  • Save up to 12 percent for insuring multiple cars
  • Coverage available for teen drivers and their parents
  • Rates 25 percent lower than the national average

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.

ProsWho It's Best For
  • pro
    Enthusiasts who undertake restoration projects themselves
  • pro
    Owners of multiple classic cars
  • pro
    Distance drivers, as Progressive has no fixed mileage limits
  • pro
    People who want to save by bundling their standard and classic car policies
ConsWho It's Not Best For
  • con
    Customers who want to use their classic car as their primary mode of transportation
  • con
    People who bought their classic cars already restored, as they may not take advantage of Progressive’s spare parts coverage and other benefits

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.

Methodology

Our method for determining the best auto insurance companies is based on three main factors:

  • Company information: We search the auto insurance market for companies that offer classic car insurance and collect information on each provider’s coverages, average cost, perks, restrictions, and available bundles/discounts. Additionally, we look at ratings from third-party sources that assess providers’ financial strength and history of customer satisfaction, like Moody’s, the Better Business Bureau, the National Association of Insurance Commissioners (NAIC), AM Best, J.D. Power, and S&P Global Ratings.
  • Proprietary data: Since its founding 20 years ago, AutoInsurance.com has been committed to ensuring customers find the best policies for them at the most affordable rates. We’ve compiled millions of data points from customer transactions, which we analyze to determine the factors that predict the greatest success for each company. We leverage our data on classic car insurance providers to match customers with the provider they are most likely to be satisfied with, based on their needs.
  • Institutional knowledge: After two decades in the business, we’ve amassed a great deal of institutional knowledge. Our team of experts knows each auto insurance provider, and what its strengths and weaknesses are. At the helm is Paul Ford, a professional with almost 30 years of industry experience. We leverage Paul’s knowledge to match individuals with their Perfect Policies. Paul’s past experience includes time with Bankrate, InsLogic, Datalot, NetQuote, Capital One Insurance Services, and Canadian Access. Currently, Paul is president of insurance at Centerfield, AutoInsurance.com’s parent company.

FAQs

Who has the cheapest classic car insurance?

In general, American Collectors and Hagerty offer good rates for classic car insurance. However, the cheapest classic car insurance will largely depend on your vehicle, since classic cars are often one of a kind. In general, bundling classic car insurance with your standard insurer will save you money. If your insurer doesn’t offer classic car insurance, get at least three quotes to find the best price.

How much does classic car insurance cost?

In general, classic car insurance costs $200 to $600 annually, although it depends on your vehicle. Some classic cars cost as little as $150, while more expensive ones can cost over $1,000. Classic car insurance policies cost less than standard policies almost always.

How old does a car have to be for classic car insurance?

Most classic cars are at least 25 to 30 years old, though many companies will offer classic car insurance for vehicles that are at least 10 years old. Newer cars can qualify if they are a limited-production model, like kit cars and exotic cars.

Why is classic car insurance so cheap?

Classic car insurance is usually cheaper than standard insurance, since most people don’t use their classic cars for everyday errands. However, if you plan to use your classic car as your regular vehicle, expect to pay more than you would for standard car insurance. Many classic car insurers require you to own a separate vehicle for regular use and limit how many miles you can drive your classic car each year.

Citations

  1. Hagerty Teaming Up With State Farm to Create a One-Stop Insurance Hub, State Farm Classic+. Newsweek. (2021, Aug 20).
    https://www.newsweek.com/hagerty-teaming-state-farm-create-one-stop-insurance-hub-state-farm-classic-1621127

  2. 1968 State Farm Camaro – Jay Leno’s Garage. Jay Leno’s Garage (YouTube). (2021, Oct 24).
    https://www.youtube.com/watch?v=4dDHZLR_15o

  3. Auto Insurance Customer Satisfaction Stalls Despite $18 Billion in Premium Relief, J.D. Power Finds. J.D. Power. (2021, Jun 15).
    https://www.jdpower.com/business/press-releases/2021-us-auto-insurance-study

  4. Insuring your classic car. Insurance Information Institute. (2022).
    https://www.iii.org/article/insuring-your-classic-car