Insurance Coverage for Collector Cars- An Easy Guide

Insurance Coverage for Collector Cars- An Easy Guide

Classic car insurance is essential for ensuring that your collector car is appropriately insured. You could end up paying 500% more than you need to for less coverage if you do not find the right collector car insurance. You are more likely to save a lot of money if you have an auto insurance provider specializing in vehicles.

Using a Major Insurance Provider to Insure Your Car

Even though niche auto insurance firms that only cover collectible and vintage cars have been around for over a decade, more than half of classic cars still pay more for their insurance than a regular auto insurance company. You will save a lot of money if you have an auto insurance provider specializing in vehicles.

Coverage for Collector Cars of Various Types

The following are the most popular forms of collector car insurance:

1.  ACV (Actual Cash Value): Many car insurance providers provide you with this form of coverage. This is a car’s blue book worth. This is suitable for most vehicles, but you can see how this form of coverage will be inadequate for a collector car.

2.  Statement of Value: This form of coverage is best for collectible vehicles, but it is not always the best choice. This coverage is relatively versatile, allowing you to specify the value of your car.

3.  Agreed Value: For those looking to insure their collectible, the Agreed Value policy is the best choice. The value of your vehicle will still be determined by what other collectors are willing to pay if you have this sort of coverage.

What Cars Will I Insure With Collectible Car Insurance?

The standard auto insurance policy will not cover a collector’s car.

Collectible or specialist auto insurance protects the following vehicles:

  • Objects of antiquity
  • Sports vehicles from around the world
  • Custom Cars
  • Cars that have been modified
  • Classics 
  • Hot rods 

Finally, no matter what type of vehicle you own, customization is available in specialized or collectible auto insurance plans to suit the specific requirements.

Classic Car Insurance Is Around 40% Less Expensive Than Standard Car Insurance.

Some drivers anticipate paying a higher premium for classic car insurance. Traditional auto insurance usually is 40% less expensive than regular car insurance.

Most classic auto insurance plans have several stipulations. We will go over those conditions in more details later.

What Are the Classic Car Insurance Requirements?

You need to follow a few specific guidelines to apply for classic car insurance

1. During midnight hours, park your car in a garage.

2. Keep the vehicle in good working condition.

3. Make your classic car a spare car.

As long as you follow these easy steps, it would be best to benefit from classic car insurance on your vehicle. You will be able to drive your classic car by being fully covered by a car insurance policy.

How Do You Get Insurance for Your Classic Car?

Insuring your collectible car has certain restrictions. Firstly, you need to be at least 25 years old (30 in some cases) and have a clean driving record of qualifying. Furthermore, the car must be at least 25 years old. A vehicle that is 25 years old or older qualifies as a “classic vehicle” of historical significance. Rates, coverage forms, and limits vary by specialty car insurance provider, so make sure you ask many questions.

Using our insurance quote comparison tool on, get quotes for your collectible car from several insurers in one location. To get started, sign up for our terms & conditions.