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Best Classic Auto Insurance

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Whether you purchased it at an auto show or restored it yourself, your classic car is your baby, which makes choosing the right classic auto insurance a big decision. Is a specialty agency the way to go, or would one of the most well-known car insurance companies offer better protection?

In this review, we’ll dive into the best classic auto insurance providers, pros and cons of coverage, and frequently asked questions about classic car insurance to help you make the best decision to protect your investment.

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Top Recommendations for Classic Auto Insurance

When buying classic auto insurance, it’s smart to consider both specialty insurance companies and name-brand providers that offer classic car insurance policies. Here are some advantages and drawbacks of either route:

Classic Auto Insurance from a Specialty Provider Classic Auto Insurance from a Standard Provider
+ Classic auto insurance providers specifically design plans to meet the unique insurance needs of vintage vehicles. + Many providers offer bundling discounts if you own a classic auto insurance policy in addition to other products, like insurance for your daily ride or home insurance.
+ There are typically more customizable coverage plans to choose from. + It can be more convenient to take out a policy from an insurer you already work with.
Classic auto insurance providers offer perks that are better tailored to the needs of collectors and hobbyists. Traditional insurance providers offer less customizable classic coverage options.
Fewer discounts are available from specialty providers.  

Classic auto insurance specialty providers tend to offer fewer discounts, but their policies are designed with classic cars’ unique needs in mind. A major benefit of getting classic auto insurance from a standard provider is that you may be eligible for a multiple-policy discount.

See if one of the top four classic auto insurance providers has the right coverage for you:

Top 2 Specialty Classic Car Insurance Providers Top 2 Standard Providers with Classic Car Insurance
#1 Hagerty #1 State Farm
#2 Grundy #2 Progressive

Specialty Classic Auto Insurance

Hagerty and Grundy are the two biggest names in classic car insurance for a reason. Here’s an in-depth look at industry reputation, coverage, and benefits.

#1 Hagerty Classic Car Insurance

We named Hagerty the best classic auto insurance provider in the industry due to its affordability, good business ethics, and high-quality coverage. Hagerty sells plans directly and through top insurance companies like Allstate, Esurance, Nationwide, and Progressive. 

Below are some top reasons to consider a policy from Hagerty:

Hagerty Classic Auto Insurance Details
History Hagerty has been insuring classic cars since 1984.
Affordability According to Hagerty, rates can be more than $250 less than insurance for your daily ride.
Industry partners Hagerty partners with leading insurance agencies, so you may be able to bundle policies and get a discount.
AM Best rating Hagerty has an A+ financial strength rating from AM Best, which means it has a superior ability to pay out claims.
Better Business Bureau (BBB) rating Hagerty has an A+ rating from the BBB, which means it has transparent business practices and interacts well with customers.

Hagerty classic auto insurance coverage includes:

  • Guaranteed value coverage: Upon signing your insurance policy, you and a Hagerty representative will agree on how much your car is worth. In the event of a total covered loss, Hagerty will pay you the entire agreed-upon amount.
  • No fixed mileage: Hagerty has flexible mileage limits instead of the firm usage restrictions you might see with other insurance carriers.
  • Customized policies: You can construct your own Hagerty policy based on the needs of your unique classic car.

Additional Hagerty policy benefits include:

  • Instant new purchase coverage: Up to $50,000 for new collectible cars
  • Spare parts coverage: Up to $750 toward insured parts
  • Auto show medical reimbursement: Up to $10,000 if you or your family members are injured at an auto show or other car-related function
  • DriveShare by Hagerty: Rent out your car or take a spin in another driver’s classic car
  • Hagerty Drivers Club: 24/7 full-service roadside assistance and access to events and forums for classic car enthusiasts and collectors

#2 Grundy Classic Auto Insurance

Grundy is the second-best classic auto insurance provider, according to our research. Grundy is the largest insurer of hot rods in the U.S. The company insures classic or collector cars that are at least 25 years old, and it also has plans for modern muscle cars and exotics of all years.

Here are a few reasons to consider Grundy:

Grundy Classic Auto Insurance Details
History Grundy began insuring specialty vehicles in 1947.
Coverage The company offers many benefits and coverage options for classic car insurance.
AM Best rating Grundy has an A++ financial strength rating from AM Best.
BBB Rating Grundy has an A+ rating from the BBB.

Coverage options for Grundy classic auto insurance include:

  • No deductible in most states
  • Liability limits up to $1 million
  • Full comprehensive and collision insurance
  • Spare parts inventory coverage up to $500
  • Inflation guard to cover increasing costs of year-over-year upkeep
  • Personal injury protection insurance if it’s a requirement in your state
  • Guaranteed value coverage that’s agreed on by both the driver and the insurer

Additionally, all Grundy insurance policies come with the following benefits:

  • Trip interruption coverage up to $600
  • Uninterrupted coverage during repairs
  • Towing and labor coverage up to $250
  • Automatic coverage for newly acquired vehicles

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Popular Car Insurance Providers That Also Cover Classics

If you’d rather insure your classic car and your daily ride through the same company, State Farm and Progressive are two top auto insurers to consider.

#1 State Farm Classic Auto Insurance

State Farm auto insurance is our review team’s top pick for classic car coverage from a traditional insurance provider. If you’re looking for affordable coverage or are already a State Farm customer, State Farm may be a great fit.

Some reasons we recommend State Farm include:

State Farm Classic Auto Insurance Details
History State Farm opened its doors in 1922.
Customer service State Farm’s 24-hour Good Neighbor Service connects customers to live representatives day or night.
Coverage State Farm offers the following insurance for classic, collector, and vintage cars: liability, medical payments/no-fault, comprehensive, collision, and uninsured/underinsured motorist.
AM Best Rating State Farm has an A++ financial strength rating from AM Best.
BBB Rating The company has an A rating from the BBB.

Additional aspects of classic auto insurance policies from State Farm include:

  • Emergency road service
  • Up to $500 for spare parts coverage
  • Guaranteed total loss protection up to an agreed-upon amount

State Farm classic auto insurance is available in every state except North Carolina and Massachusetts.

#2 Progressive Classic Car Insurance

Progressive’s classic auto insurance policies are underwritten by Hagerty, so you can get top vehicle coverage with other Progressive auto insurance benefits. Plus, if you already have Progressive car or home insurance, you could qualify for more savings.

Some standout features of Progressive include:

Progressive Classic Auto Insurance Details
History Progressive has been servicing car insurance policies since 1937 and is a strong industry leader.
Affordability Progressive classic auto insurance policies are less expensive than standard insurance, and if you own any other Progressive insurance products, you could be eligible for additional savings.
Availability Progressive car insurance policies are available in every state.
AM Best Rating Progressive has an A+ financial strength rating from AM Best.
BBB Rating The provider is not rated by the BBB, currently.

All Progressive classic auto insurance policies include the following benefits:

  • Battery services
  • Lockout services
  • 24/7 roadside assistance

Does Your Vehicle Qualify for Classic Auto Insurance?

If you drive a muscle car, exotic vehicle, or hot rod that’s between 10 and 24 years old, it’s considered a classic car. If your car is 25 or more years old and is of historic interest, it’s considered a vintage car.

In either of these cases, you’ll typically qualify for classic auto insurance, as long as your vehicle meets a few other requirements, including:

  1. The car is stored in an enclosed building.
  2. The classic car is not your primary vehicle.
  3. The car has been maintained or restored to its original condition.

Because classic cars typically spend less time on the road, they’re usually cheaper to insure, but policies may have stricter mileage restrictions and other rules you’ll need to follow to help prevent your prized possession from being damaged.

As well as select car criteria, a driver will most likely need to meet certain standards to qualify for a classic auto insurance policy. These are not hard-and-fast rules, but getting classic auto insurance coverage could be easier if you meet these requirements:

  • You have at least 10 years of driving experience or are at least 25 years old.
  • Every driver listed on your classic auto insurance policy has a clean driving record.
  • You or other drivers in your household have an insured daily driving vehicle in addition to your classic car.

Classic car insurance providers usually have higher driver safety standards than traditional car insurance companies. Some companies offer mature driver discounts for older drivers with a long history of safe driving.

Bottom Line: Best Classic Auto Insurance

The best classic auto insurance plans are specially designed for collector or classic cars that typically aren’t the owner’s primary vehicle. Because classic cars spend less time on the road, they’re usually cheaper to insure, but policies may have stricter mileage restrictions and other rules you’ll need to follow to help prevent your prized possession from being damaged.

If you’re interested in getting coverage from a specialty insurance provider, you should get quotes from Hagerty and Grundy. If you’d rather go with a mainstream provider, check out State Farm or Progressive. When we pitted the four companies against each other in a head-to-head comparison, here’s how they ranked:

  • #1 Hagerty
  • #2 State Farm
  • #3 Progressive
  • #4 Grundy

To get quotes from the top providers of classic car insurance, enter your zip code below.

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Q & A

Here are some frequently asked questions about classic auto insurance.

What is the best classic car insurance company?

One of the best classic car insurance providers is Hagerty. This company specializes in classic auto insurance and has a number of perks for collectors and enthusiasts. It also offers plans through Progressive. However, we think the best traditional car insurance company with classic coverage is State Farm.

Who insures classic cars?

Many companies insure classic cars, including State Farm, USAA, Geico, Progressive, Hagerty, Chubb, and Grundy. The top two classic auto insurance providers are Hagerty and State Farm, according to our research.

How does classic car insurance work?

Classic auto insurance is largely the same as standard car insurance. Typical classic auto insurance coverage includes liability coverage, comprehensive coverage, medical payments, and collision coverage, as well as total loss coverage. However, there are stricter eligibility requirements for drivers.

How much does insurance cost on a classic car?

Some classics are nearly invaluable and only increase in worth over time, but classic auto insurance can cost almost $300 less than a standard auto insurance policy. While many classic auto insurance providers do not offer discounts, standard insurance providers that have policies for classics often offer multiple ways to save.

Why is classic car insurance so cheap?

Classic car insurance tends to be less expensive than standard car insurance because owners of classic or vintage vehicles generally take extremely good care of their cars and drive them an average of only 1,000 miles per year.

Our Methodology

Our expert review team takes satisfaction in providing accurate and unbiased information. We identified the following rating categories based on consumer survey data and conducted extensive research to formulate rankings of the best car insurance providers.

  • Affordability: A variety of factors influence cost, so it can be difficult to compare quotes between providers. Our team considers auto insurance rate estimates generated by Quadrant Information Services and discount opportunities when giving this score.
  • Coverage: Because each consumer has unique needs, it’s essential that a car insurance company offers an array of coverage options. We take into account types of insurance available, maximum coverage limits, and add-on policies.
  • Industry Standing: Our team considers Better Business Bureau (BBB) ratings, financial strength, and years in business when giving this score.
  • Availability: Auto insurers with greater state availability and few eligibility requirements are more likely to meet consumer needs.
  • Customer Service: Reputable car insurance providers operate with a certain degree of care for consumers. We consider complaints filed with the National Association of Insurance Commissioners (NAIC), J.D. Power claims servicing scores, and customer feedback.
  • Online Experience: Insurers with easy-to-use websites and highly rated mobile apps scored best in this category.

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  1. It’s strange to see auto insurance so cheap for classic cars.
    Usually maintaining them takes a lot of time and money which is well noted by insurance companies.
    In the country that i live in (Dubai) the insurance prices are sky high for classic cars and its nice to see insurance companies taking direct interest in this niche.
    An interesting article to read.