Insuring Your Classic and Collector Cars

Classic cars aren’t only a financial investment, but they are a staple of class and luxury. When it comes to your ride you wouldn’t want to protect it with just any insurance. In this article, you can find information about how classic car insurance differs from regular auto insurance, what requirements there may be, and some other considerations regarding insurance for your classic car.

close up of classic car taillight

How Much is Insurance for a Classic Car?

Just as with other insurance policies, there are a variety of factors that insurance companies use to determine insurance costs and rates. Some of the possible factors that may be taken into consideration when determining insurance costs for your classic and collector cars are:

  • The make and model of your classic. A rarer and more expensive vehicle will typically tend to raise your rates compared to a more common or moderately valued vehicles.
  • The location where you live in will also affect your quote.
  • How much will you be driving your classic? If you only use your vehicle occasionally, such as weekends or limited times throughout the year, you may be able to obtain more competitive rates than compared to a daily driver.
  • The age, gender, marital status, and education of the driver can also affect your quote.
  • Your personal driving record will also factor into your costs. Having prior tickets, violations or accidents can potentially raise your rates.

The Difference Between Insurance for Your Classic Car and Daily Driver

There are various differences between an insurance policy for a classic car and one that someone would drive daily. For example, a classic car must meet various eligibility requirements, there are usage rules, and some of the available coverage options differ, among other factors.

classic car sitting in personal showroom

What Qualifies Your Classic Car for Insurance?

Some common conditions and restrictions with insurance policies for your classic car include, among others:

  • Your classic car may need to meet age requirements, for example being 25 years or older or 20 years old with collectible value.
  • The vehicle may need to be stored in an enclosed structure, such as a garage, parking garage, or storage unit.
  • You as the driver may need to meet eligibility requirements, such as not having any serious traffic infractions (such as alcohol related offenses, reckless driving, or outstanding speed violations) on your record.
  • The use of the vehicle may be limited, such as use only for exhibitions or pleasure/leisure activities, and it cannot be your primary mode of transportation.
  • You may not be able to use your classic car for racing.
  • The annual on-road mileage of your vehicle may be limited.

Classic Car Insurance Coverages

Although the uses of your classic car and daily driver are vastly different, some of the basic coverages available for both are quite similar.

  • Comprehensive insurance
  • Collision insurance
  • Uninsured motorist coverage
  • Underinsured motorist coverage
  • Bodily injury liability
  • Property damage liability
  • Medical Payments

Additional Coverage Options for Classic Cars

Many classic car insurance policies offer a number of optional coverages that you can select. For example, available coverage options often include agreed value, spare parts coverage, a tiered mileage plan, travel coverage, and auto show medical.

Agreed Value – With an agreed value plan, you and your insurance company agree upon the value of your classic car at the time that you purchase your policy. 

Parts Coverage – Parts coverage can help you obtain parts for your classic vehicle if a qualifying event occurs and your vehicle’s parts are destroyed, damaged, or stolen.

Tiered Mileage – With a tiered mileage plan, you agree to limit the total number of miles that you will put on your classic vehicle in a year to an amount that is agreed upon by the insurance company. This is typically done in order to obtain more competitive premium rates.

Worldwide Coverage – If you plan to travel out of the country for car shows or events with your vehicle, you should seriously consider worldwide coverage. Typically, a general auto policy is usually restricted to inside the U.S., resulting in a need for this coverage if you plan on taking your classic auto outside of the country.

Car Show Coverage – If you are a frequent participant in car shows, this coverage can help in the event that someone is injured by your vehicle while it is at a show or exhibit. 

taillight of classic car

Do I Need Coverage for My Classic Car Year-Round?

If you live in a state that finds itself with seasons that are unfavorable for driving a classic car you may have to store your vehicle for various periods of time. Although your vehicle may be stored away for the season, the possibility for incidents such as fires, theft, or “acts of God” are always present. It is recommended to keep insurance on your classic car year-round, even if you only use it for only part of the year.

Classic Car Insurance Quotes

Although owning a classic car can require both time and resources, you may have a deep connection to your vehicle, which makes protecting it with the proper insurance coverages important to you. At Cross Private Client, we can help you explore your options when it comes to classic car insurance. With locations across the Northeast, you can visit one of our offices or contact us today to find out more.



This article is for general informational purposes only and is not to be relied upon or used for any particular purpose. Cross Insurance shall not be held responsible in any way for, and specifically disclaims any liability arising out of or in any way connected to, reliance on or use of any of the information contained in this article. The information contained or referenced in this article is not intended to constitute and should not be considered legal, insurance, accounting or other professional advice, nor shall it serve as a substitute for the recipient obtaining such advice. The views expressed in this article are that of its author and do not necessarily represent the views of Cross Financial Corp. and its subsidiaries and affiliates (“Cross Insurance”) or Cross Insurance’s management or shareholders.


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