Best Classic Car Insurance Companies of 2025

A classic car is usually considered a vehicle that’s at least 25 years old or is a collector’s item. If your ride fits either description, you know how important it is to protect it.

But traditional car insurance isn’t the right fit for a vintage auto. Classic car insurance relies on coverage amounts based on an agreed-upon value, rather than actual cash value. There are also strict limits on how much you can drive it and stringent requirements for proper storage.

CNBC Select lifted the hood on top insurance companies with policies for classic cars and picked the best in a variety of categories.

Check out our methodology for more on how we made our picks.

Who’s this for? Grundy offers automatic coverage for new acquisitions, which can protect your special ride while you’re adding it to your policy.

Standout benefits: Grundy doesn’t set annual mileage caps for classic cars. And, if you have a breakdown, your policy also includes up to $600 in trip interruption coverage and $250 for roadside assistance.

Who’s this for? American Modern offers classic car owners a lot of flexibility. If you have a car that’s undergoing restoration, you can opt for a comprehensive-only policy while it’s not drivable. If you’re looking to lower your premium, you can select a coverage amount below your vehicle’s agreed value.

Standout benefits: Policies include $750 of pet injury coverage.

Who’s this for? Safeco’s regular-use option allows you to clock up to 10,000 miles a year on your classic car.

Standout benefits: You can insure both your classic ride and your regular car with Safeco and enjoy a multi-policy discount and a diminishing deductible on both.

Who’s this for? Unlike many competitors, American Collectors Insurance insures collectors’ rides in all 50 U.S. states and Washington, D.C.

Standout benefits: American Collectors’ Freedom Tier allows up to 7,500 miles a year plus occasional general usage. It also reimburses up to $250 to relocate your car during a natural disaster.

Who’s this for? If you provide proof that your vehicle is being restored, Hagerty will increase the agreed value by 10% each quarter, to a maximum of $25,000.

Standout benefit: Hagarty is flexible about using your vehicle for club functions, tours, exhibitions and pleasure driving. Some policies allow for use as a regular vehicle for several months a year. Plans also include $750 in coverage for automotive tools.

Who’s this for? Chubb focuses on top-tier insurance, and its classic car policies are no exception. It covers repairs with original equipment manufacturer (OEM) parts or unique fabricated parts if the originals aren’t available.

Standout benefits: Drivers don’t need authorization to participate in non-competitive rallies or tours.

Because they’re driven much less, classic cars are typically 40% to 50% cheaper to insure than standard daily-use vehicles. According to Car and Driver, a classic car insurance policy typically costs between $200 and $600 a year.

Your individual rates will depend on the value of your car, your driving record and other factors.

There is no set definition of a classic car, but according to the Insurance Information Institute, a vehicle worth more than its original selling price may qualify for classic car insurance.

This includes:

• Cars that are more than 25 years old
• Hot rods, muscle cars and modified vehicles
• Exotic and luxury cars
• Vintage military vehicles, antique tractors and classic trucks
• Classic motorcycles
• Some classic car replicas

Classic car insurance includes the same basic coverage as full coverage insurance, namely:

Liability coverage: Pays for injuries or property damage caused by your vehicle.

Collision coverage: Covers damages to your vehicle caused by a collision with another car or object.

Comprehensive coverage: Pays for repairs from damage to caused by a vehicle collision, like flooding, vandalism or hitting an animal.

The main difference is that classic car insurance policies usually pay out on an agreed value basis, rather than deducting depreciation. Some companies offer cherished salvage coverage, which allows you to keep the car and still receive its guaranteed value if it’s deemed a total loss.

Some insurers also cover:

• Tools and spare parts
• Vehicles being restored or constructed
• Memorabilia
• Roadside assistance
• Emergency relocation
• Auto show medical reimbursement if someone is injured at an exhibition

A classic car policy may cover the increased cost of experts and special towing needs. All the insurers we selected let you choose your repair shop, so you have a specialist you can trust. In addition, while standard auto insurance is limited to the U.S., a classic car policy may cover the vehicle abroad if you’re traveling for a car show or other event.

Classic car insurance typically won’t cover vehicles used for everyday purposes, though, like a daily commute. Most providers don’t offer liability-only policies, either, and exclude coverage for vehicles that are not street-legal or that are used on racetracks or in timed events.

Standard car insurance pays out based on the actual cash value of your vehicle, which accounts for depreciation.

Agreed value coverage, however, means that if your car is stolen or totaled in a covered event, you are paid the amount you and your insurer agreed to in advance. Most classic car insurance policies pay out on an agreed value basis.

To be considered a classic car for insurance purposes, your vehicle should meet certain qualifications:

Age: Typically, the vehicle must be at least 25 years old.
Condition: It must be in good condition with proof of regular servicing
Mileage: This varies by insurer, but vehicles are typically not driven more than 7,500 miles a year
Storage: The car must be kept in a locked garage that protects it from both theft and the elements.

There are also guidelines for drivers looking for classic car insurance.

Age: The primary policyholder should be at least 25 years old
Driving record: A clean record for the last five years, with no at-fault accidents or serious violations.
Alternate vehicle: The car must not be your primary mode of transportation

While classic car insurance is cheaper than a traditional policy, there are still ways to save more.

• Bundle your policies: Insuring your everyday vehicle and your classic car with the same company can earn you a discount with many providers. Companies like Chubb and Safeco also offer homeowners insurance and other types of coverage.
• Have a clean driving record: As with traditional car insurance, not having accidents or other violations will help keep your rates lower.
• Discounts: Some insurers offer rate reductions for car clubs and other associations.
• Lower-mileage rate: Some insurers will offer lower rates for those who drive their vehicles less.
• Raise your deductible: If your classic car insurance policy has a deductible, raising it can lower your premium. However, it does mean that you’ll owe more out of pocket if you are involved in an accident, so be sure it’s affordable.

Classic car insurance companies can be strict about how many miles you’re allowed to drive in a year.

At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed financial decisions. Every insurance list is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of insurance products. To research the best insurance companies, we compiled over 100 data points on more than a dozen insurance companies. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.

To determine the best insurance for classic cars, CNBC Select analyzed numerous companies that offer this type of coverage and compared them based on rates, availability, features, usage limitations and customer service.

We incorporated data from J.D. Power, the National Association of Insurance Commissioners and the Better Business Bureau.

We also considered CNBC Select audience data when available, such as general demographics and engagement with our content and tools. 

From there, we sorted our recommendations by the best for availability, regular use, immediate coverage, restored vehicles and high-value vehicles.

Average premiums and policy structures for classic car insurance are subject to change.  

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