Classic Car Insurance

Jul 19, 2022 By Susan Kelly

A typical auto insurance policy for classic vehicles will not suffice to protect your needs completely. While most cars decrease in value with time, a classic or collector vehicle appreciates. Classic insurance policies for cars usually have an agreed value, which bases your coverage on the value you agreed to pay for your vehicle. In addition, you'll typically receive comprehensive and collision insurance with the classic auto insurance policy, which shields your car from almost any harm off-road or on the highway.

American Modern

American Modern entered the specialty insurance market in 1949 and thus has a thorough understanding of insuring classic, antique, and other collectible vehicles. It's possible that you haven't known about this less well-known business American Modern; however, its score of A+ in the Better Business Bureau can give you security when considering the company's policies.


American Modern Classic Car Insurance is considered one of the most comprehensive policies available. Antique and classic car policies offered by American Modern include bodily injuries and property damage liability, collision and comprehensive insurance, uninsured motorist coverage, and medical payments/personal injuries insurance.


It offers great discounts that could help drivers save up to 45 percent. Car Club Member discounts 10% to anyone who is a member of an approved car club. Discounts for anti-theft are up to 20%, based on your security options. Discount on accident prevention of 5-10% when you complete the approved safety training.

Access and Limitations

American Modern Insurance is licensed and available across every state. However, the insurance company declares that it has the option of denying coverage to drivers based on their risk. People who have had a history of crashes, DUIs, or other problems may not be able to get traditional car insurance from American Modern. In addition, as it's an insurance company that is smaller, there have been some complaints from customers who experienced long wait times for processing claims which can be annoying, especially if you work with an auto repair shop specializing in antique automobiles.

Grundy Insurance

Grundy Insurance is an excellent option for classic cars with increasing appreciation. The insurance company will cover 100 percent of the car's value when it is covered in a total loss scenario. It also allows the policyholder to review their vehicle's value as they see fit.

The most common kinds of auto insurance coverage are provided by Grundy, including bodily injury liability, collision, property damage liability, comprehensive medical payments, and personal injury protection. The coverage for spare components provided by the insurance for historic cars may go up to a maximum of $500. Protection against trip disruption can go up to $600, as well as protection against towing and labor costs that can go up to $250.

Hagerty Insurance

Hagerty Insurance offers more than simply a traditional car insurance policy. It also has car specialists who can assist with the repair or replacement procedures and a top-quality community for car lovers. Hagerty covers classic cars from 1979 and onwards. In addition to the usual types of car insurance, Hagerty provides coverage for spare parts and trip interruptions, equipment, and roadside assistance. Drivers can join the Hagerty Drivers Club, a membership service that gives discounts on autos and roadside assistance, auto-enthusiast-related events, and much more.

Hagerty holds the A+ rating at the BBB, although it's not accredited. Progressive owns the insurer. Instead of selling its classic car insurance policies, Progressive provides insurance policies via Hagerty. This could offer peace of mind for those looking for a firm with a solid financial foundation and benefit drivers who wish to bundle the classic insurance for other vehicles with Progressive.

State Farm

State Farm offers fairly competitive rates and options for coverage for old-fashioned cars. State Farm is among the few insurance companies that still depend on the expertise of local agents to assist you in settling claims and other issues throughout the process.


To be eligible for State Farm's Collector or Classic Car Insurance policy, your vehicle has to comply with the following requirements Classic cars between 10 to 24 years old. It is historically significant, for example, an old-fashioned hot rod or muscle car. An antique vehicle over 25 years old has some historical significance or value.


Unfortunately, State Farm offers no special discounts to old-fashioned automobile owners. However, it provides several regular discounts to ensure safe driving, safe vehicles, and customer loyalty. Because the discount rates vary between states, make sure to speak with a State Farm agent in your area. State Farm agent or visit the State Farm website to find out which discounts you might be eligible for.

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