Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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Laura Walker graduated college with a BS in Criminal Justice with a minor in Political Science. She married her husband and began working in the family insurance business in 2005. She became a licensed agent and wrote P&C business focusing on personal lines insurance. Laura serviced existing business and wrote new business. She now uses her insurance background to help educate drivers about...

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Reviewed by Laura Walker
Licensed Agent for 10 Years

UPDATED: Jul 8, 2021

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Older cars aren’t actually old. They may be classics. When you want to protect the interests of your older (and very valuable) classic car, you need classic auto insurance.

You can shop online for free quotes for classic insurance and save a lot of money in the process. Use our FREE quote tool today!

There are a few things to know in order to get the best policy possible for your car.

What is Classic Auto Insurance?

Classic auto insurance differs by definition from company to company, though it is typically a vehicle that is at least 20 years old. To ensure you know if your car is a classic, you can rely on the professionals to tell you.

According to the Classic Car Club of America, a classic car is between 20 and 40 years old.

According to the Antique Car Club of America, any car that is 45 years old or older is classified as antique.

Whether you want classic auto insurance or antique auto insurance, the process is the same. It provides you with auto insurance on your vehicle for what it is really worth, not what the depreciated value is.

It also makes concessions knowing that you probably don’t drive it on a daily basis – and most companies give you a set amount of mileage that you can put on the car over the course of a year.

Understand the Value of a Classic Insurance Policy

You need to make sure you get the correct coverage for your car. If you have an old car that your grandparents purchased for $5,000 and handed it down to you, it may be worth a lot more than that.

Especially if you keep it in the garage and have seen similar ones go at auction for $50,000, then you want to make sure you get your money’s worth out of your policy.

If you don’t buy classic auto insurance and your standard insurance policy is covering it, you may not be able to replace the vehicle. If your car is damaged or even totaled, you may only get a few thousand dollars in exchange for a classic car that was worth a whole lot more.

The actual cash value is what it’s called with ordinary insurance. Cost minus depreciation.
Then there’s the stated value. This is the stated value of the car and what most auto insurance companies will pay.

Finally, an agreed value is where classic car insurance comes into play. This is where you and an insurance company agree on a value for your car. There may or may not be a deductible.

If your car gets totaled, you want to make sure you are able to replace your classic car with a similar one.

If you don’t get the right agreed value, the check your insurance company sends you may not be enough to come close to what your classic car was really valued at.

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Stipulations for Classic Auto Insurance

When you start shopping around for classic auto insurance, companies are very particular about whom they insure. The reason is that classic cars are often worth a lot more money.

Therefore insurance companies want to make sure they are getting their money’s worth.

You may find that a company makes you meet the following requirements before giving you a policy:

  • Good driving record
  • 10 years driving experience or more
  • No teen drivers
  • No drivers on policy with poor records
  • Car is kept in a secure and covered garage
  • Proof you have a secondary car for daily transportation

In addition to these requirements, the insurance company may give you a limited amount of mileage that you can drive your car in a year. You may be given 100 miles a month or even 250 miles a month.

Depending on where you plan on driving your classic car, it’s important to check out the allowances your car insurance company give you.

Compare Classic Auto Insurance for the Best Deal

You need to go with a classic auto insurance company, not a traditional car insurance company. Otherwise, you may be rejected for coverage or worse yet, be given actual cash value for the car.

Neither of these is acceptable, which means you need to go with a classic auto insurance company.

Next, there are multiple companies that offer the insurance you need for your car that is 20 years old or even older.

Whether it’s a car, a jeep or a truck, it may make a difference, so be specific and have all the details when you’re searching for quotes.

Keep In Mind the Differences

Remember that every company is a little different in terms of what they offer and how they built the quote. If you go with the first company that offers you car insurance, you could be paying the highest premium out there.

You don’t know until you compare three or four companies.

The price of the quote isn’t everything, either. Make sure to pay attention to how your classic car is being valued and how many miles you are being allowed on a monthly basis.

This will ensure that you get the very best deal without spending a dollar more than you have to. Online insurance quotes are designed to make it easier to compare quotes.

They only take a minute to generate so you have no excuse not to do comparisons on your classic auto insurance.

Use our FREE quote tool to compare insurance rates today!