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Classic cars require special insurance to properly cover their unique needs. This includes comprehensive and collision coverage based on the vehicle's agreed value, rather than its depreciated value. Classic car insurance differs from regular car insurance in several key ways:

  • Coverage for agreed value
  • Lower premiums due to limited usage
  • Special storage requirements
  • Focus on original parts for repairs

Your classic car is an important investment that you need to protect well, comprehensive coverage along with collision coverage will work for this

In this article, we will discuss everything you need to know about comprehensive coverage for classic cars.

Definition of comprehensive coverage

Comprehensive coverage is a key component of most classic car insurance policies. It covers damage to your vehicle that occurs from non-collision incidents.

Covers damage from:

  • Weather events like hail, floods, storms
  • Fire
  • Theft
  • Vandalism
  • Falling objects
  • Animals on the road

Comprehensive protects against these unpredictable situations that could damage or destroy your prized classic car. 

Pays agreed value if total loss:

If your classic car is damaged beyond repair or stolen and not recovered, comprehensive coverage will pay out the vehicle's full agreed value, minus your deductible.

This is a major benefit compared to regular car insurance, which would only pay the depreciated cash value on an older vehicle. With comprehensive coverage on a classic car, you get the true value you and the insurer determined upfront. 

Partial damage from hailCost of repairs
Total loss from fireAgreed value minus deductible

Comprehensive gives classic car owners peace of mind that their vehicle will be restored to its former glory or replaced at its full value in the case of a total loss. This specialized protection is key for properly insuring your valuable classic investment.

Definition of collision coverage

Along with comprehensive coverage, collision coverage is an essential part of any classic car insurance policy.

Collision protects against damage to your vehicle when it crashes into or is struck by another object. This includes accidents like:

  • Hitting a tree, utility pole, or guardrail
  • Colliding with another vehicle
  • Hitting a pedestrian or cyclist
  • Running into an animal on the road

Collision will pay for repairs or replacement of your classic car resulting from these types of covered crashes, minus your deductible.

Covers damage if you hit an object:

With collision coverage, you are protected regardless of who is at fault in the accident. So if you crash your 1965 Ford Mustang into a telephone pole, collision will cover the repairs.

Collision also protects if you are hit by an uninsured or underinsured driver who does not have enough liability insurance to pay for the damage to your classic car.

Pays agreed value if total loss:

If your prized classic car is totaled in an accident, collision coverage will pay out the agreed value set on your policy, minus any deductible.

This ensures you can replace your rare classic with one in similar condition, without losing value due to depreciation like you would with a standard auto policy.

Fender benderCost of repairs
Total loss from major accidentAgreed value minus deductible

Collision coverage is essential for properly insuring your classic car investment and avoiding major out-of-pocket costs if an accident occurs. Combined with comprehensive coverage, it provides complete protection for your cherished vehicle.

Agreed value for classic cars

One of the most important elements of a classic car insurance policy is coverage based on the vehicle's agreed value. Here's how it works:

  • You and the insurance company determine a dollar value for your specific classic car
  • This agreed value is documented on your policy
  • If the car is totaled, you receive the agreed value (minus deductible)

Agreed value takes into account:

  • Current fair market value
  • Condition of your specific vehicle
  • Any modifications or restoration work
  • Cost of replacement with a similar vehicle

Dollar amount you and insurer agree on:

The key benefit of agreed value is that you have a voice in determining what your classic car is worth.

You can provide details like:

  • Purchase price
  • Improvements you've made
  • Documentation of vehicle history
  • Appraisals
  • Current market valuation

The insurer will also research the value using pricing guides and databases. Together, you'll land on an agreed value both parties accept.

Paid if total loss, minus deductible:

If your classic car is totaled, the agreed value is paid directly to you, minus your chosen deductible.

This ensures you can replace the car without losing money due to depreciation or the insurer underestimating its worth.

With regular car insurance, you only receive the depreciated cash value, which could be much less than it would cost to replace your classic ride.

Agreed value is a key benefit of classic car insurance that keeps you protected in the event of a total loss. Be sure to insure your vehicle properly for what it's really worth.

Differences between classic car and regular car insurance

Classic car insurance differs from standard auto insurance in some important ways. Understanding these differences is key to ensuring your classic has the right protection.

Classic car uses agreed value, regular uses actual cash value:

The biggest difference is that classic car insurance pays the agreed value of the vehicle if it's totaled.

Regular car insurance pays only the depreciated actual cash value, which is often much less than a classic car's worth. You could be left making up the difference out of pocket.

Classic car premiums are often lower due to less usage:

Classic cars are driven fewer miles than daily driver vehicles. Less time on the road means lower risk of accidents.

So classic car insurance often has significantly lower premiums compared to regular policies. 

PolicyAverage Annual Premium
Classic car$150-$600
Regular car$800-$2,500

However, premiums are based on usage - the more you drive your classic, the more you'll pay.

Classic cars have stricter requirements:

To get classic car insurance, you'll need:

  • Very limited annual mileage
  • Secure, enclosed storage location
  • Regular maintenance and inspections
  • Excellent driving record
  • Proof of alternate vehicle for everyday use

Regular car insurance doesn't impose these conditions. Your daily driver can be driven regularly without mileage restrictions.

Understanding these key differences allows you to choose the right insurance for your specific vehicle and driving needs. A classic car deserves special protection.

Requirements for classic car insurance

To qualify for specialized classic car insurance, you'll need to meet certain eligibility standards. Understanding the requirements helps ensure you get approved.

Limited annual mileage:

  • Most insurers cap mileage between 1,000-7,500 miles per year
  • The less you drive, the lower your premium
  • Must prove the vehicle isn't used for regular transportation

Driving your classic sparingly shows lower risk and earns lower premiums. Tracking mileage can help prove to the insurer that you stay within allowable limits.

Special storage conditions:

  • Classic cars must be stored in a locked garage or other secured structure
  • Public parking, carports, and uncovered driveways are usually prohibited
  • Storage location factors into the premium cost

Properly storing your classic minimizes weather damage, theft risk, and vandalism. Insurers reward good storage with reduced premiums.

Good driving record:

  • Most insurers require 5-10 years of clean history
  • Major violations like DUIs often prohibited
  • Minor tickets may be allowed if infrequent

A safe driving history proves you take driving seriously and pose minimal risk behind the wheel of your cherished classic. High-risk driving can make you ineligible.

RequirementPurposeEffect on Premium
Limited mileageReduce accident riskLower
Proper storageReduce damage riskLower
Clean driving recordReduce accident riskLower

Meeting these requirements demonstrates that you'll care for your classic car properly. That earns you the specialized coverage at attractive rates.

Types of classic cars that can be insured

Classic car insurance is not just for old family sedans - a wide variety of specialty vehicles can be protected:

Antique cars

  • Typically models from the early 1900s up to the 1920s
  • Highly valued for historical significance
  • Elegant styling and craftsmanship

Protecting an antique with agreed value coverage ensures it can be properly restored or replaced.

Vintage cars

  • Models built between 1919 and 1930
  • The origins of car manufacturing
  • Increasingly rare finds

Vintage cars have unique parts that are hard to replace, making agreed value vital.

Classic military vehicles

  • Jeeps, transports, staff cars from WWII or earlier
  • Appealing for history buffs and collectors
  • Typically very expensive if rare

Collision coverage is key for protecting these one-of-a-kind relics.

Classic motorcycles

  • Bikes over 25 years old like 1960s Triumphs
  • Combination of technology and styling
  • Invite frequent use, requiring coverage

Comprehensive coverage protects against weather, theft, and other damage when riding.

The right classic car insurance provider will properly value and insure any special vehicle, no matter its age, origin, or purpose. Policies can be customized for cars, trucks, and motorcycles.

Protecting your prized classic requires finding an insurer that appreciates these unique assets. Do your research to get the coverage you need.

Additional coverages offered by classic car insurers

Beyond basic collision and comprehensive coverage, classic car insurance providers offer extra protections:

  • Roadside assistance for towing, battery jumps, flat tires, etc.
  • Spare parts coverage in case of damage to expensive original parts
  • Traveling coverage for taking your vehicle to car shows and exhibitions
  • Medical reimbursement if injured at a car show event

These additional coverages fill gaps that basic policies don't address. Quality classic car insurers like Hagerty Insurance offer a menu of customizable options.

Ways to save on classic car insurance

Classic car insurance offers specialized protection that standard policies can't match. But there are still ways to get coverage for less:

Limit mileage

  • Drive fewer than 3,000 miles per year for best rates
  • Confirm mileage limits with insurer
  • Consider storage-only coverage if not driving at all

The less you drive, the lower your premium. Minimize trips for pleasure drives and shows.

Use safe storage

  • Keep in fully enclosed, locked garage or similar
  • Install alarm system, cameras, anti-theft devices
  • Avoid public areas like driveways and parking lots

Secure storage reduces the risk of weather damage, accidents, theft and vandalism.

Add anti-theft devices

  • Systems like LoJack can track stolen vehicles
  • Dash cams, wheel locks deter potential thieves
  • Customizations like quintuple bolt locks enhance security

Adding precautions beyond basics required by your insurer can earn discounts.

Insure with specialist company

  • Mainstream insurers don't fully understand classics
  • Specialists like Hagerty Insurance cater specifically to collectors
  • More precise agreed values and coverage options

An insurer that knows classics will properly value and protect your vehicle. 

TacticHow It Reduces Premium
Less mileageLower accident risk
Safe storageReduce damage risk
Anti-theft devicesReduce theft risk
Specialist insurerMore accurate valuation

With valuable assets, it pays to secure the best coverage at the lowest cost. Do your homework to get a great classic car policy.


Classic cars deserve special protection that matches their unique value. Classic car insurance provides this through agreed value payouts and coverages tailored specifically for collectors' needs.

Key points about insuring your prized classic include:

  • Comprehensive and collision coverage with agreed value payouts
  • Meeting usage limits, storage, and driving record requirements
  • Insuring with a specialist provider who knows classics
  • Taking steps to minimize premiums
Properly insuring your classic shows that you truly care about protecting your investment. The right policy with comprehensive coverage gives you peace of mind that your beloved vehicle will be covered and restored if anything happens.

Do your research, understand the options, and find an insurer who shares your passion. Then you can feel confident taking your rare beauty out for weekend drives knowing she's covered from all angles. Your classic deserves nothing less!


Q: What is the difference between comprehensive coverage and collision coverage?

A: Comprehensive coverage protects your vehicle against non-collision damages, such as theft, vandalism or natural disasters. Collision coverage, on the other hand, covers damages caused by a collision with another vehicle or object regardless who is at fault.

Q: Can I add comprehensive coverage to my existing auto insurance policy?

A: Yes, comprehensive coverage is an optional policy that can be added to your existing auto insurance policy any time you want. Remember, most lenders will request you to add comprehensive coverage along with collision coverage.

Q: Do I need comprehensive coverage if I only drive my classic car occasionally?

A: Absolutely, even if you only drive your classic car from time to time, it is still vulnerable to damage from unexpected events. Just imagine someone saw your car parked somewhere and decide to steal it and sell all parts. If you’d have that problem, you will surelly need this coverage option.

Q: What factors affect the cost of comprehensive coverage?

A: The cost of comprehensive coverage is affected by several factors, including the make and model of your classic car, your driving history, and your location. The more rare and unique (the one that keeps all original pieces including the original engine) typically have higher premiums for comprehensive coverage.

Q: Can I lower my comprehensive coverage premiums by raising my deductible?

A: Yes, increasing your deductible can lower your premiums for comprehensive coverage. However, it is important to choose a deductible that you can afford to pay out of pocket when you file a claim.

Other readers were also interested in the following porsts:

classic car insurance: everything you need to know

Comprehensive Car Insurance Theft Coverage: Expert Analysis and Tips

Does Comprehensive Car Insurance cover Roadside Assist?

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