Insurance on antique cars: Top 7 Companies you can consider for your vintage car

Insurance on antique cars: Top 7 Companies you can consider for your vintage car

Hi friends, Prasun and today we will discuss why you need specialized classic car insurance instead of regular Insurance. The conventional car insurance policy is unsuitable for your vintage car if it is older than 20 years.

insurance on antique cars

Classic car insurance is almost the same as normal car insurance and the policy covers Insurance on antique cars and is the most preferred for your classic or vintage car. Also, we will discuss the pros and cons of Insurance on antique cars.

What is Insurance on Antique cars

Insurance on antique cars or classic car insurance is almost like conventional car insurance, but there are some key differences. Now we will discuss about both Pro’s and Con’s. The Pro’s are :

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Agreed Value

Classic car insurance is constructed based on the agreed value, where the owner or you, as a car owner, will tell the insurance company why your car is worth it.

If your claimed value is reasonable and agreed upon by the insurance companies, they will insure your car.

Zero $ Deductible

This means there will be no deductible if you meet with an accident and if it’s your fault or any hit and runs. In this case, you don’t have to pay anything.

For most other insurance, there will be a $ 250/500/1000 deductible, and you have to pay out of pocket if you get into an accident.

Choose your own Repair Shop

In most of the conventional car insurance policies, the company creates pressure or insists on selecting the repair shop for which they have done partnerships.

But in the case of classic car insurance, you can use any repair shop of your choice. Even some companies for insurance on antique cars cover parts and collectibles, specialized parts, and repairs that may be required for your specific vehicle.

Flexible on Drivers

The companies allow spouses, family, friends, and other members to drive the car you can’t find in traditional insurance.

Your car can run on track days, and enjoy the benefit of insurance on antique cars.

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Travel Coverage

This is also a unique feature that classic car insurance companies usually cover. They provide reimbursement on food, lodging, rental vehicle, and even a personal vehicle if your vehicle breaks down.

The company also pays for original parts to restore your car.

Insurance while you are away

Your car is insured even if you are away, and your car is displayed at a car show.

You also get many options like insuring Kit cars, replicas, and heavily modified cars, and the premiums are less, so you need to pay less.

Let’s discuss some of the Con’s

Vehicle Age :

Your vehicle needs to be older than 20 years, and some exceptions exist for specialty cars.

Limited Use :

You can’t use your classic car for daily use, and it can’t be the only car you use daily. A vintage or classic car can’t be driven for business use, and lots of cars have mileage restrictions.

Other requirements:

Your car has to be kept in a safe garage, and the car has to be a clean record.

Extra Features offered by Classic Car Insurance Companies

Let’s talk about some extras the companies often offer for insurance on antique cars.

Vehicle Valuation Tool :

This is a handy tool that some of the classic car insurance offers. For example, if you go to the Hagarty website, you can check your vehicle value after putting your vehicle type and brand.

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Drive Share :

You can rent your car and make money while you are not using the car. Hagarty has a whole website wherein you can put your car details and list your car for hire. All the details regarding the car rental are tracked and monitored from the portal.

Drivers Club :

This AAA roadside assistance that Hagerty offers includes towing your car home if it breaks down roadside repair and maintenance.

They also organize car shows, track trails, and seminars.

List of Some best companies for Insurance on Antique Cars

Unlike established companies, there is less number of options for you when you are going to select a company for insurance on antique cars.

Some big brands directly deal with classic cars, and a few companies like Geico, Progressive, and USAA work with other classic car insurers to underwrite policies.

Here is the list of some of the top companies which deal in classic car insurance.

CompanyMaximum annual mileage limit
American Collectors/USAA7,500
American Modern/GeicoUnlimited
J.C. TaylorUnlimited
State Farm2,500

Final Take

Among the above list, Grundy and Hagerty are best for classic car insurance. One thing that needs to be remembered here is a standard insurance company may provide some coverage for your vintage car but may not cover the total value of your vehicle.

These standard policies consider age, milage, and depreciation so that they may see your car as a 20-year-old car, not a classic one.

So before taking any policy, do your homework, and if you are looking for a genuine classic car policy, it is highly recommended to go with Grundy or Hagerty.

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Prasun Dey

Myself Prasun Dey , a Passionate Blogger , Affiliate Marketer & Blog Content Writer. I maintain concise & error-free writing as a blog writer. I can take up my creative ideas with any of the topics to write a new article that will add value to my readers.

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