By Kacie Goff

The Best Classic Car Insurance Companies

When you have a truly remarkable ride, you don’t want to leave it exposed to risk. Plus, as a responsible driver, you’d never take to the road without insurance. But your classic car deserves more than just a boilerplate auto insurance policy.

Your insurance provider agrees. In fact, although definitions of a classic car vary from insurer to insurer, if a provider considers your car a classic, it’ll offer you a special policy for your ride. Classic car insurance takes into account that your vehicle’s value will likely appreciate over time and knows that it might take an expert to find the right parts and perform repairs. In short, it’s coverage tailored to the unique needs of a classic car.

That said, not all classic car coverage is created equal. The best classic car insurance is affordable, while keeping your ride completely protected. To find top-notch providers, we compared customer satisfaction ratings, financial strength, and coverage options to see which offered the best balance between price and protection.

The 5 Best Classic Car Insurance Companies

A note about insurance partners

Note: Geico, Progressive, and Nationwide have partnered with other insurers to offer classic car insurance. This means that you get the convenience of accessing your policy from an insurer you already know and trust, plus the added benefit of bundling your insurance if you already have other policies with that company. But because the specialists in classic car insurance are the ones to actually manage your policy, you get to work with a team of experts — people who understand your unique ride and why original replacement parts are important, for example — should you ever need to file a claim. It’s the best of both worlds.

The Best Classic Car Insurance Companies: Summed Up

  Geico (with American Modern or Assurant) Progressive (with Hagerty) Farmers Nationwide (with Hagerty) ERIE
Our review Our review Our review Our review Our review
The best
For digital service For flexible coverage For specialized policies For classic truck owners Customer service
A.M. Best financial strength rating
A++ A+ A- A+ A+
J.D. Power 2019 U.S. Auto Claims Satisfaction Study score
3/5 3/5 3/5 3/5 3/5
For cars produced before
1994 Varies Varies Varies 2009
Agreed value coverage?*
Get a quote Get a quote Get a quote Get a quote Get a quote

*This coverage means that your insurer will pay the full agreed-upon value of your vehicle in the event of a covered total loss; in other words, you don’t have to worry about depreciation.

Geico — Best for Digital Service

Best for
Digital Service
Geico (with American Modern or Assurant)

Geico (with American Modern or Assurant)

Pros
No appraisal required
High financial strength ratings
Highly rated mobile app
Cons
Strict guidelines about qualifying cars

Why we chose it

Digitalization has changed the game — and Geico is paying attention. If you want to get your classic car covered with minimal effort, Geico is ready to serve you with its wide range of digital tools, from a coverage calculator to a car insurance FAQ to highly rated mobile app. Through the app, you can view your policy documents and ID cards, pay your bills, and even get a quote if you'd like to add another car to your policy.

It's also easy to get coverage for your classic car with Geico. The company doesn't require you to get an official car appraisal; instead, you pick your level of agreed value coverage and rest easy knowing you’re protected for that amount. Geico works with two classic car coverage specialists, American Modern Insurance Group and Assurant, to offer its policies, meaning you get the specialized support you need for your vehicle.

Points to consider

Unfortunately, Geico has some strict stipulations about the type of classic cars it insures. Your ride needs to be stored in an enclosed and locked structure, be used minimally, and — in most cases — be a vintage 1994 model or older. That said, it will extend this coverage type to newer exotic cars and replica cars, so Geico still may be a good choice if you can't find coverage for your unique car elsewhere.

Progressive — Best for Flexible Coverage

Best for
Flexible Coverage
Progressive (with Hagerty)

Progressive

Pros
Guaranteed value coverage
Flexible mileage restrictions
Online quote
Cons
Full benefits require Hagerty Drivers Club membership
Average-to-low customer satisfaction ratings

Why we chose it

Progressive works with Hagerty — a world-leading classic car insurer — to insure classic automobiles, which means that you get a team of agents behind you who are knowledgeable about your ride. Progressive stands out for its flexible coverage: Progressive's policies also don’t come with fixed mileage restrictions, so you don’t have to limit yourself on the road (though you can't use your classic car as a daily driver). Your policy also includes guaranteed value coverage, Hagerty’s version of agreed value coverage in the event of a total loss, plus original replacement parts coverage for covered repairs.

Progressive also offers policy add-ons that will entice many classic car owners, including coverage for your spare parts, tools, and automobilia, plus incrementally increasing vehicle-under-construction coverage for when you’re in the process of restoring a classic.

Points to consider

Although Progressive offers great coverage, some of the best perks require an additional fee. If you want roadside assistance, for instance, you need to shell out an additional $45 per year to join the Hagerty Drivers Club. Additionally, Progressive is a consistently average-to-low performer when it comes to customer satisfaction, according to J.D. Power's overall satisfaction and claims satisfaction studies. If a good customer service track record is important to you, Progressive may fail to deliver.

Farmers — Best for Specialized Policies

Best for
Specialized Policies
Farmers

Farmers

Pros
Unique coverage options
Perks for existing policyholders
Cons
Doesn't specialize in insuring classic cars
Average customer satisfaction

Why we chose it

While Farmers doesn't specialize in classic car insurance, it still offers unique protection options for classic cars. Take, for example, its “no attendance” clause. With this addition to your policy, you don’t have to be supervising your car at all times. That means that you can walk around the car show and check out the other rides but will still be covered if something happens in your absence. Farmers also allows you to use original replacement parts if your car is damaged and can protect you if you take your car abroad.

While Farmers doesn't advertise many discounts, it does offer one that will appeal to serious collectors: With its multi-vehicle discount, you can save on your premiums by insuring multiple classic, custom, or exotic cars.

Points to consider

Farmers offers all the right coverage should you need to make a claim — everything from original parts replacement to full windshield and safety glass coverage — but filing your claim may not be as easy as with other providers. Farmers scored below the industry average in J.D. Power's survey of claims satisfaction; while it isn't an awful score, Farmers is a consistently low performer in terms of overall satisfaction, so it's important to take its customer-first attitude with a grain of salt.

Nationwide — Best for Classic Truck Collectors

Best for
Classic Truck Collectors
Nationwide (with Hagerty)

Nationwide

Pros
Classic truck coverage
Policies for classic cars without locked garages
Cons
No advertised discounts

Why we chose it

Another Hagerty partner, Nationwide also offers guaranteed value coverage and the lack of fixed mileage limits, so you can take to the road for some occasional pleasure driving. Plus, Nationwide prides itself on offering protection for classic trucks as well as cars, a service that most other classic car insurers fail to advertise.

But one of Nationwide's best features? In some cases, it doesn't require an enclosed, locked parking spot; if you don't have access to a garage, Nationwide is open to insuring your classic ride if you park it in your driveway, carport, or car hauling trailer.

Points to consider

You can add what you want to your policy, including coverage for your tools, automobilia and spare parts. But you’ll need to pay $45 for membership in the Hagerty Drivers Club for roadside assistance. That might not be a deal breaker, but Nationwide’s premiums could be. While classic car insurance is technically a different product, it's worth noting that Nationwide is known for its high auto insurance rates — and with no advertised discounts for its classic car insurance, it may be hard to bring your rate down once you've received a quote.

ERIE — Best Customer Service


Best Customer Service
ERIE Insurance

ERIE

Pros
Phenomenal customer service
Insures newer classic cars
Discounts for cars driven fewer than 500 miles per year
Cons
No agreed value coverage

Why we chose it

Just because you consider your car a classic doesn’t mean that all insurers will. If you’ve had trouble getting your ride covered, turn to ERIE. It'll extend insurance to classic cars as young as 10 years old, provided they're limited production models, have historical interest, or feature “exceptionally fine workmanship.” This is a lower bar than many other providers set. Additionally, unlike many of its competitors, ERIE doesn't require you to take out a separate policy for your classic car — in many cases, the vehicle can be added to your existing auto policy, making the billing process much simpler.

But the big thing that won us over is ERIE's customer service reputation. It came in third place out of 23 companies in J.D. Power’s 2019 U.S. Auto Claims Satisfaction Study, and it maintains perfect or near-perfect scores for every region in which it was considered for overall customer satisfaction. The company is so dedicated to serving you that it'll send an appraiser to you for vehicles valued over $30,000, saving you the hassle of bringing your car anywhere specific or uploading an excessive amount of photos.

Points to consider

The major downside to ERIE? It doesn't offer agreed value coverage. Instead, you’ll get actual cash value in the event of a covered incident. And if ERIE decides that your car has depreciated in value, you could be shortchanged.

Classic Car Insurance FAQ

What is classic car insurance?

Classic car insurance is coverage for classic, antique, collectible, exotic, or custom cars. All insurers have a different definition, but a classic car is generally one that appreciates in value over time.

Classic car coverage isn’t designed to keep you safe on the roads, but rather to protect your investment in your unique ride. In fact, most insurers will significantly limit how much you can drive your classic vehicle when you choose this type of policy. In other words, if your classic car is your daily driver, this isn’t the right type of coverage for you.

What makes classic car insurance different from regular car insurance?

On top of the fact that it isn’t intended to cover a regular-use car, classic car insurance often offers a different type of coverage: agreed value coverage. While many regular car insurance policies take depreciation into account when paying for damages after a covered event, most classic policies are different. They’ll pay you the full agreed-upon value of your vehicle (determined at the time you purchase your policy, usually with an appraiser) if you experience a covered total loss.

How much does classic car insurance cost?

Like all other types of auto insurance, your premium depends on the value of your car, how you use it, and more. But the good news is that regardless of those factors, you’ll pay less for classic car coverage than you would for regular car insurance. In fact, Progressive says that classic car insurance costs around 39% less than regular car insurance, saving you an average of $276 per year.

Where can I get affordable classic car insurance?

Because car insurance is so personal, it’s impossible to say which company will have the cheapest car insurance for you. However, you can minimize the cost of your classic car policy in a number of ways: Minimize the amount you drive, increase your deductible, and bundle your classic policy with other types of coverage.

Also, know that when it comes to classic cars, how you store them matters to your insurer. Get a locked, enclosed place to keep your car and your premiums will be lower thanks to the mitigated risk. Beyond that, the best way to get affordable classic car insurance is to shop policies from multiple insurers and choose the best one for you and your budget.

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