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The top classic and collector car insurers in 2023 are Grundy, Hagerty, American Collectors, American Modern and Heacock Classic Insurance.
Classic Sports Car Insurance Coverage
Author: Daniel Robinson Author: Daniel Robinson Writer Daniel is a writer for Guides Group, specializing in automotive finance and car care for a number of automotive news sites and marketing companies in the US, UK and Australia. Daniel is the Guides team’s authority on car insurance, loans, warranty options, car services and more.
Hagerty Car Insurance
Editor: Rashawn Mitchner Editor: Rashawn Mitchner Managing Editor Rashawn Mitchner is a group editor for guides with over 10 years of experience in personal finance and insurance.
A classic car requires special insurance to protect you in the event of a collision, but which classic car insurance company is best? The Guides team used our industry research on the best insurance companies to find the perfect classic car insurance options for you.
In this review, we discuss the five best classic and collector car insurance companies available today, taking into account each insurer’s industry status, coverage options, and more.
Types of car insurance How much car insurance do I need? Top insurance companies compare car insurance
Classic Lotus Insurance
The Guides team is committed to providing accurate information to help you make the best car insurance decision. Because consumers rely on us to provide unbiased and accurate information, we have created a comprehensive rating system that allows us to rank the best insurance companies. We collected data on dozens of auto insurers to rate these companies based on a wide range of rating factors. After 800 hours of research, the final result is an overall rating for each provider, with insurers with the best scores at the top of the list.
Although classic car insurance is usually cheaper than standard car insurance, choosing the right insurer is still an important decision. Whether you own a Porsche 911 booster, a hot rod or a muscle car, it’s a good idea to check with several insurance companies regarding classic car insurance.
Below are the five best options for classic car insurance and collector car insurance. Many of these companies also offer collector cars, vintage cars and exotic cars.
We’ll then take a detailed look at each classic car company and detail their reputation, additional coverage, and more.
Special Car Insurance
Grundy Insurance is an excellent choice for classic cars with rapidly increasing value. The auto insurance provider guarantees 100 percent of the vehicle’s value in a covered total loss scenario and allows policyholders to revalue the agreed vehicle value if necessary.
Grundy has an accredited A+ rating from the Better Business Bureau (BBB), demonstrating the company’s commitment to resolving customer complaints and issues. The insurer offers standard types of auto insurance – bodily injury liability, property damage liability, collision, comprehensive, personal injury coverage, medical payments and uninsured/underinsured motorist.
The classic car insurer also offers parts cover up to $500, trip interruption up to $600 and towing and labor up to $250.
Hagerty Insurance offers more than just classic car policies. The insurer also provides automotive experts to help you through the repair or replacement process and a top-notch community of car enthusiasts. Hagerty insures classic cars from 1979 and older.
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In addition to the standard types of auto insurance, Hagerty covers parts, suspension, tools and roadside assistance. Drivers can join the Hagerty Drivers ClubⓇ membership service, which offers several car discounts, roadside assistance, events for car enthusiasts and more.
Although Hagerty is not accredited, it has an A+ rating from the BBB. However, the insurer is supported by Progressive. Instead of selling its own classic car insurance, Progressive offers policies through Hagerty. This can provide peace of mind for drivers looking for a company with added financial stability, and may also be beneficial for drivers looking to combine classic car insurance with coverage for other vehicles through Progressive.
For classic cars, American Collectors Insurance offers negotiated value insurance, restoration vehicle insurance, parts insurance and auto insurance for newly purchased vehicles.
The auto insurer also has a unique protection program called Towing and Labor for Collectors (TLC). This tiered plan includes roadside assistance, dealership reimbursement, theft premium, cosmetic damage coverage and other options depending on the level of coverage you purchase.
Classic Car Insurance Done The Goodwood Way
American Collectors Insurance is rated A with BBB accreditation and has a high customer satisfaction rating of 4.9 stars on Trustpilot.
American Collectors Insurance is sold through USAA, one of the most prestigious insurance companies in the country, and is underwritten by American Bankers Insurance Company, American Reliable Insurance Company and American Security Insurance Company of Florida. Some of these insurers have an “A” rating from AM Best, which means they have a strong ability to meet customers’ claims obligations.
The insurer’s additional insurance covers roadside assistance, window protection and international transport abroad. American Modern does not have any BBB or Trustpilot ratings, but from other review sites, customer ratings are mixed. While the company may be a specialty insurer, it may not be the best option for customers looking for excellent customer service.
Like American collectors, American Modern insurance is sold through a larger auto insurer – in this case, Geico. Geico is recognized in the industry with an A++ rating from AM Best. This means you can get quotes for standard and classic car insurance through Geico.
Classic Auto Insurance California
Heacock Classic insurance is a great option for drivers looking for five-star customer service. Although the company does not have a BBB rating, it has a rating of 5.0 out of 5.0 on Trustpilot. Customers often praise classic car insurance agents and their personalized service.
Heacock’s insurance is American Modern Insurance. In terms of insurance options, Heacock offers all standard types of cover and includes roadside assistance at no extra cost on any car policy. Parts coverage (up to $2,000) and negotiated value are also included.
The insurer does not require any professional assessment before offering cover. The agreed value of the car is between Heacock and the car owner.
Classic car insurance is not the same as standard car insurance. Collector cars are different from regular drivers in terms of value and use, so it makes sense that insurance is set up slightly differently. Let’s see what it is and how it works.
Northamptonshire Classic Cars
Classic car insurance differs from a standard car policy in several respects. Not only are there certain requirements for classic cars (which we’ll discuss below), but there are also big differences in how your insurance company pays out for these vehicles.
Unlike used cars, classic cars increase in value over time rather than depreciating. To account for this, classic car insurers often reimburse drivers a set amount in the event of a car collision.
Classic car insurance also has an annual mileage limit. Because these specialized vehicles are only intended for occasional driving or car shows, auto insurers limit the number of miles the vehicle can be driven per year. This also means that classic car owners have a vehicle dedicated to everyday driving.
Most classic and collector car insurance companies set mileage limits for cars. This applies to the companies listed above. The best companies offer high mileage or unlimited mileage limits. However, even companies that do not have mileage limits impose limits on how often a collector car can be used.
What Is Classic Car Insurance & How Does It Work?
When shopping for collector car insurance, look for flexible mileage options, whether you drive your classic car every day or on weekends.
Classic car qualifications vary from company to company, making it difficult to provide a clear definition. Most car insurers define a classic car as being between 10 and 20 years old and an antique or vintage car as being older. However, some organizations also consider vehicles older than 25 years to be classic. Other companies may provide you with a car insurance date range. For example, Hagerty covers models from 1979 and earlier.
In the case of classic car insurance, the age of the car is one of the pieces of the puzzle. There are several other factors that an insurer takes into account when offering insurance coverage. We’ve listed the common requirements for classic car insurance below:
Many classic car insurance companies can insure custom cars such as hot rods, replicas, muscle cars, and more. We recommend speaking with an agent to see if your personal vehicle qualifies.
Classic Vs. Regular Car Insurance: Cost & Coverage Comparisons
Many classic car insurers offer additional cover options such as parts cover, travel cover and restoration cover.
A negotiated value insurance option is also available. This protection ensures that you will receive the fixed value of your classic car, regardless of its current market value. Some insurers may also offer auto show insurance, which will protect you in the event of a collision while driving to the event.
The costs of classic car insurance are usually much lower than traditional car insurance. According to
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