Owning a classic car is like having a rolling time machine, except instead of worrying about the space-time continuum, you’re stressing over whether your 1967 Mustang is properly insured. Standard auto insurance won’t cut it for vintage rides, which need specialized coverage that understands their unique value, limited use, and the fact that you probably baby them more than your actual children.

So, if you’re tired of explaining to your regular insurer that no, your ‘57 Chevy Bel Air is not a daily driver, here’s a breakdown of the best classic car insurance options to keep your prized possession protected, without draining your wallet like a leaky fuel line.

Why Classic Cars Need Specialized Insurance

Your everyday car insurance policy is designed for commuter vehicles that depreciate over time. Classic cars, on the other hand, often appreciate in value, and their repair costs can be astronomical due to rare parts and specialized labor. Standard insurers might undervalue your car or refuse to cover it at all if it’s deemed too old or too valuable.

Classic car insurance policies are different because they:

Agree on a guaranteed value (so if your car is totaled, you get the full appraised amount, not just "market value").

Allow for limited mileage (since you’re not driving your ‘69 Camaro to the grocery store every week).

Cover spare parts, restoration work, and even car show mishaps (like a judge tripping over your bumper).

Without the right policy, you could end up in a nightmare scenario where your insurer lowballs you after a wreck, leaving you with a fraction of what it would cost to replace your classic.

Best Classic Car Insurance Providers in 2024

Not all classic car insurers are created equal. Some specialize in ultra-rare collectibles, while others offer flexible plans for weekend cruisers. Here are the top picks:

1. Hagerty – The Gold Standard for Enthusiasts

Hagerty is the most well-known name in classic car insurance, and for good reason. They offer agreed-value coverage, roadside assistance tailored for vintage cars, and even coverage for tools and memorabilia. Their policies also include "automobilia" protection for things like vintage gas signs or rare car manuals.

Best for: Owners who want comprehensive coverage and access to a huge classic car community.

2. Grundy – Agreed Value with No Mileage Limits

Grundy is another heavyweight in the classic car world, offering agreed-value policies with no annual mileage limits, a rarity in this niche. They also provide inflation guard coverage, automatically adjusting your car’s insured value to keep up with market trends.

Best for: Those who drive their classics more frequently but still want top-tier protection.

3. American Collectors Insurance – Affordable Rates for Multi-Car Owners

If you have a garage full of classics, American Collectors Insurance offers steep discounts for insuring multiple vehicles. They also cover cars in mid-restoration, which many insurers won’t touch.

Best for: Collectors with more than one vintage car.

4. Heacock Classic – High-Value and Exotic Coverage

Heacock specializes in ultra-high-value and exotic classics, with policies covering cars worth millions. They also offer flexible usage terms, including track day coverage (with restrictions).

Best for: Owners of rare, high-end classics or muscle cars worth six figures or more.

5. State Farm & Geico – Classic Car Add-Ons

Some mainstream insurers (like State Farm and Geico) offer classic car endorsements, but these are usually more restrictive than dedicated classic insurers. They can be a budget-friendly option for entry-level collectors.

Best for: Those who want to bundle classic car insurance with their existing policy.

Key Factors to Consider When Choosing a Policy

Before signing up, make sure your policy checks these boxes:

Agreed Value vs. Stated Value – Agreed value means you and the insurer settle on a price upfront; stated value means they can adjust the payout later. Always go for agreed value.

Mileage Restrictions – Most classic policies have annual mileage caps (usually 1,000–5,000 miles). If you drive more, look into Grundy or similar flexible options.

Usage Rules – Some insurers require that your car be stored in a locked garage and used only for pleasure, not daily commuting.

Restoration & Parts Coverage – If you’re working on a project car, ensure your policy covers it during the rebuild process.

Roadside Assistance – Vintage cars break down in vintage ways, make sure your insurer offers specialized towing and repair networks.

How to Save Money on Classic Car Insurance

Classic car insurance is usually cheaper than standard insurance (since you’re driving less and taking better care of your vehicle), but here’s how to keep costs even lower:

Join a car club – Many insurers (like Hagerty) offer discounts for members of recognized classic car clubs.

Increase your deductible – If you’re a low-risk driver, a higher deductible can lower premiums.

Bundle multiple cars – Insuring all your classics under one policy can lead to big savings.

Install security features – Alarms, GPS trackers, and garage storage can reduce rates.

Pay annually – Some insurers give discounts for upfront payments instead of monthly installments.

Protecting Your Piece of Automotive History

Classic cars aren’t just vehicles, they’re rolling works of art, and they deserve insurance that treats them that way. Whether you’re cruising in a ‘32 Ford or a ‘80s Ferrari, the right policy ensures that a fender bender doesn’t turn into a financial disaster.

Before you commit, get quotes from at least three providers, read the fine print, and make sure your dream car is covered for what it’s truly worth. After all, you didn’t spend years restoring it just to let some insurance adjuster tell you it’s only worth "scrap value."