I started Insurance Blog by Chris™ because I have a passion for insurance. Here at the blog, our job is to educate and inform people about the best insurance for them. Since then, we have grown into national brands with a large team of researchers helping people understand all forms of insurance.

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Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health insu...

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Reviewed by Rachael Brennan
Licensed Insurance Agent

UPDATED: Mar 18, 2021

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When you’re the proud owner of a classic automobile, one of the most important things on your mind should be finding the best car insurance.

Classic cars have unique insurance needs due to their expensive repair costs, and the difficulty insurers have finding accurate information on their specific values and safety ratings.

Therefore, drivers looking for the best insurance for classic cars might find that they’re given quotes that seem too expensive or unreasonable.

When you’re looking for classic car insurance, it’s important to shop comparatively.

You need to be on the lookout for affordable insurance rates and for policies with extra coverage for specialty repairs and theft, since this prevents you from paying out of pocket if there’s an accident.

You also need to ask the right questions to determine exactly how well you’re covered for repairs, theft, and medical expenses.

The details below will help you learn how insurers calculate insurance rates for classic cars and supply you with the information you need to secure the best rate for your vehicle.

What’s the Cost of Car Insurance for Classic Cars?

classic cars

When insurance underwriters for classic cars, they quantify the risks of a variety of factors.

In addition to overall value and any specialty repairs that your vehicle may need, insurance underwriters look at the following:

  • Your gender
  • Your age
  • Your driving records
  • Your credit history
  • Other drivers or vehicles insured on your policy
  • Average annual mileage
  • Certain conditions of your geographic region

It’s important to remember that insurance providers review these factors differently when calculating insurance rates, leading to huge variations in costs between companies.

Providers consider insuring classic cars as high risk for several reasons.

For starters, repairing or replacing a classic car is expensive on its own, since their parts aren’t readily available on the market.

Additionally, older vehicles have fewer and less reliable safety features, so the chances of suffering severe injuries in an accident are greater.

According to a study conducted by the National Highway Traffic Safety Administration, fatal crashes involving vehicles manufactured before 1984 resulted in 55 percent of the vehicle’s occupants dying.

If you compare this statistic to that of vehicles manufactured between 2013 and 2017, the death toll drops to 26 percent.

To get reliable insurance quotes for your classic car, you need to contact insurance providers directly and supply them with accurate information.

To give you an idea of typical insurance costs, we’ve gathered average rates for drivers in California, the country’s most populated state.

This example shows how rates vary from driver to driver.

  • A single male who’s been driving between 16 and 40 years and travels from 7,600 to 10,000 miles per year using a Mercedez Benz C300, can expect to pay premiums from $1,020 to $7,250 for standard coverage in the city of Fremont, Alameda County.
  • A married senior couple who’ve been driving more than 40 years, have one traffic violation each, and travel an average of 14,000 miles per year combined using a Toyota Camry, can expect to pay between $1,133 and $4,123 for standard coverage in the city of Sacramento.

Although neither of the examples above feature a classic car, they do show the differences in insurance pricing.

Age, gender, marital status, and car make play significant roles when determining rates.

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Companies with the Best Car Insurance for Classic Cars

There are plenty of insurance providers in the states that write insurance policies on classic cars.

While it’s best to shop around to find a policy with adequate coverage, reasonable rates, and a reliable claims process, start by comparing extra coverage options with each company.

A policy that has additional coverage for specialty vehicles or a discount for low mileage might be the best option.

Progressive:

This insurance provider offers classic car insurance policies that cover specialty repairs, original parts replacement, and guarantees the value of your vehicle without depreciation.

Their policies let you drive your classic vehicle as often as want without limiting your mileage.

Liberty Mutual:

Classic car owners can customize their insurance policies with this insurance provider.

Their policies can be tailored to suit the needs of various classic car makes and models, as well as different driving habits.

Classic vehicle drivers who travel a limited number of miles yearly can also qualify for Liberty Mutual’s low mileage discount.

QuoteWizard:

This online auto insurance finder lets users input their data to find the best insurance prices in their area.

Users can add information like age, address, gender, and vehicle details to receive quotes from the best insurance companies across the country.

QuoteWizard is a great comparison tool since it gives users different rates quickly and it links them directly to each provider.

Travelers:

While Travelers doesn’t offer a policy that’s specific to classic cars, it lets drivers opt for a comprehensive insurance policy that covers repairs, theft, and other damages.

A comprehensive policy assures that you’re taken care of when you file a claim.

Travelers also offers discounted rates to drivers who maintain low mileage.

Allstate:

Classic car insurance is available to Allstate customers, and it protects the value of their vehicle without limiting mileage.

Policyholders may also qualify for a low mileage discount if they’re able to provide proof of miles driven.

Esurance:

This provider offers policies tailored to classic, collector, and antique cars.

Its policies are designed to protect the value of your classic car, covering specialty repairs if there’s ever an accident.

Drivers with Esurance who travel limited miles per year may also qualify for a low mileage discount on their classic car insurance policy.

State Farm:

Customizable classic car insurance is available with this provider.

Drivers can work with State Farm to build a policy that covers their unique needs.

Insurance options include specialty repairs, comprehensive coverage, sound system insurance, and medical payments.

State Farm also offers a low mileage discount to all its drivers, so classic car drivers are eligible.

USAA:

This insurance provider is exclusive to military members and their families.

USAA offers low rates on classic car insurance to its policyholders, protecting the value of their vehicles and covering all specialty repairs.

Drivers can choose to top off their coverage to include extra mileage, or for lower rates, they can choose a policy that covers fewer miles per year.

MetLife:

MetLife doesn’t specifically offer classic or antique car insurance.

However, classic car drivers who choose to insure themselves with MetLife can purchase a comprehensive policy that protects their classic car against theft, vandalism, and acts of nature.

Drivers who travel fewer than 7,500 miles may also qualify for a discounted insurance rate.

Kelly Klee:

This insurance broker lets users access top insurance companies across the United States.

Shopping with an insurance broker is a good way to find the best car insurance for classic cars, since they can guide you through the buying process and negotiates insurance rates and discounts on your behalf.

Brokers can also recommend the best coverage for your specific vehicle and driving habits.

How to Reduce the Cost of Your Car Insurance for Classic Cars

Insurance is essential to protect your classic car, which is why it’s vital that you find insurance from a reliable provider.

Without the right coverage, you risk becoming financially responsible for huge medical and auto repair expenses in the event of an accident.

Also, since driving without valid insurance is prohibited by law in most states, not having it can lead to expensive fines, license or vehicle suspension, and even jail time in extreme cases.

Although insurance for classic cars can seem expensive, it doesn’t always have to be.

There are different ways to reduce your insurance premiums, such as taking advantage of discounted rates and making minor adjustments to your insurance policy.

Here are some easy steps you can take to lower your rate:

  • Decrease your mileage by driving your classic car seasonally, or use it as a secondary vehicle
  • Complete driver training and defensive driving classes
  • Combine all vehicles and drivers in your household onto a single policy
  • Bundle your home, life, and auto insurance policies with the same provider
  • Increase your deductible
  • Reduce additional coverage on older, less expensive vehicles that are on your policy
  • Take advantage of all discounts your insurance company offers if you’re eligible to do so

After you’ve found the best car insurance for your antique car, it’s time to customize your policy with the provider you’ve chosen.

To qualify for the lowest rate possible and make sure you have adequate coverage, arm yourself with competing offers and have the necessary information to complete your purchase.

Keep in mind that insurance companies have a variety of discounts available, so it’s important to provide them with personal details to determine which discounts you qualify for.


The following information can help you qualify for discounts:

  • The ages and dates of birth of all drivers on your policy
  • Your full home address and mailing address (if it’s different)
  • Detailed information about where you park your car
  • Your driver’s license number
  • Information about traffic infractions on your record
  • Details about your vehicle(s), including make, model, year, condition, mileage, safety features, custom add-ons, and vehicle identification number
  • Details about any custom features or restorations made to your vehicle
  • An estimate of how many miles you drive each year
  • Your estimated budget for auto insurance

With the above information ready, you can rest assured that you’ll receive an accurate rate for your insurance premiums.

Now that you know how classic car insurance rates are calculated, you should be ready to compare rates with confidence.

Make a list of your unique needs and shop around!

Soon enough you’ll find the best insurance that fits your classic car’s needs.