Companies Offering Insurance for Classic Cars

Insurance companies offering insurance for classic cars include specialty insurers like Hagerty and Grundy, and more well-known names like Safeco and GEICO. Classic car insurance might be more or less expensive than standard coverage. Find out how much you might pay.

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UPDATED: May 31, 2022

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Written By: Laura BerryReviewed By: Joel OhmanUPDATED: May 31, 2022Fact Checked

Here's what you need to know...

  • Companies define a classic car differently, but most agree that vehicles older than 20 or 25 years qualify as classic
  • Classic car insurance offers special protection for vintage vehicles, including low mileage requirements, car show reimbursement, and agreed-upon value
  • While you can get classic car insurance from big companies like State Farm, specialized providers like Safeco, Hagerty, and Grundy are customer favorites

Usually defined as anything older than 20 years, a classic car can be an excellent investment and fun hobby. Some people depend on a car’s appreciation to fund their retirement, while others simply enjoy the classic car lifestyle.

Whatever reason inspired your purchase of a classic vehicle, a standard car insurance policy won’t keep it safe. Instead, you’ll need a classic car insurance plan. There are many differences between standard and classic car insurance plans that allow you to use your car without worrying.

While many people choose to add a classic car policy to an existing plan with companies like State Farm or GEICO, serious enthusiasts tend to trust specialized companies like Grundy or Hagerty. The best company for your car depends on what you do with it.

Read more to explore what classic car insurance companies can offer you, then compare quotes to find the best rate possible.

The Best Classic Car Insurance Companies

The insurance company you select to protect your car is an important decision. Luckily, owners have a lot of choices. From major providers like State Farm and GEICO to specialized companies like Hagerty, classic car owners should compare plans to find the perfect coverage for their car.

Although major brands offer excellent coverage, many enthusiasts prefer shopping from companies dedicated to classic cars. Providers specializing in classic cars tend to be more knowledgeable and supportive of the lifestyle.

Whichever company you decide to shop with, you should know what you plan to do with your classic car before getting insurance. For example, a car used for the occasional pleasure drive needs different coverage than a vehicle used in shows.

Once you have an idea of your car’s primary use, you’ll be ready to find a company that works best for you. Consider the companies specializing in classic car coverage listed below if you’re unsure where to start.

Grundy Classic Car Insurance

Grundy Insurance is a well-known, trusted name in the classic car community. Although it offers insurance for vehicles of all ages, your car can get classic coverage if it’s over 25 years old.

Grundy doesn’t stop at cars, either — you can find insurance for classic boats, homeowners, and specialty collections.

For classic cars, Grundy’s best policy is the Original Olde plan. The Original Olde plan was explicitly crafted for classic vehicles and includes the following coverage:

  • Liability. If you cause an accident, liability car insurance coverage helps pay for damage you caused to people and property. Most states require a minimum amount of liability coverage to drive.
  • Collision. Collision insurance helps repair your car after an accident, no matter who is at fault. Collision insurance covers you even if you hit a stationary object like a tree.
  • Comprehensive. From bad weather to theft, there’s a lot that can damage your car outside of an accident. Comprehensive car insurance covers most damage, but check with your company to see what’s covered.
  • Uninsured/underinsured motorist. Most states require a minimum amount of liability insurance to drive, but not all drivers obey the law. Uninsured/underinsured motorist coverage protects you from drivers without enough insurance.
  • Personal injury protection (PIP). Bills can get expensive after an accident. Personal injury protection coverage helps pay for medical expenses, physical therapy, and lost wages after a car accident.
  • Agreed value guaranteed. A Grundy representative will evaluate your car after you sign up for insurance. If your vehicle is totaled, Grundy will reimburse you the agreed-upon amount.
  • No deductibles. While it’s not available in every state, this add-on allows you to skip your deductible after an incident.
  • Inflation guard. Many owners buy classic cars for their investment potential. Since a classic vehicle’s worth typically rises, inflation guard increases your policy’s value to match.
  • Trip interruption. If you experience mechanical issues while away from home and your car needs overnight repairs, Grundy will give you up to $600 a day for meals and lodging.
  • Towing and labor. Grundy covers $250 worth of towing and labor costs after an accident.

Grundy doesn’t publish any information about available discounts, but most companies offer them to help you save. Grundy’s reputation as one of the most affordable providers on the market means it probably offers discounts, so ask a representative when you sign up.

Hagerty Classic Car Insurance

While Grundy car insurance is an excellent choice for most classic cars, Hagerty is ideal for a specific type of driver. Hagerty is not for you if you use your vehicle for daily driving. Instead, Hagerty covers your car during club functions, tours, exhibitions, and the occasional pleasure cruise.

A plan with Hagerty offers the standard car insurance coverages like liability, comprehensive, and collision, and you can also buy the following add-ons:

  • Hagerty Plus. The Haggerty Plus plan adds roadside assistance to a standard insurance policy. Hagerty roadside assistance covers everything from fuel delivery to tire changes.
  • Instant new car coverage. Hagerty will extend coverage automatically to any new car you buy. This coverage lasts for 30 days.
  • Flexible usage. Many classic car insurance companies limit how many miles you can drive. This add-on allows unlimited miles for pleasure cruises but does not apply to daily driving.
  • Guaranteed value. Hagerty will pay you a predetermined price if your car is totaled rather than its actual cash value to protect you if your car’s value dips.
  • Car show reimbursement. While auto shows are fun, they don’t always go smoothly. Hagerty will pay your or a family member’s medical bills if you get injured at a show.

Hagerty is picky about the drivers it chooses to insure. It usually rejects applicants with marks on their driving records, such as speeding tickets, reckless driving charges, or a DUI.

While it might not seem fair, Hagerty insures people with clean driving records to keep rates as low as possible for other customers.

Safeco Classic Car Insurance

Safeco is a little more lenient in its definition of a classic car. You can get a classic car policy for any vehicle at least 10 years old.

Like Hagerty and Grundy, Safeco includes standard insurance features in its plans, including liability, comprehensive, and collision. You can also buy several other add-ons, including:

  • Agreed value coverage. Agreed value is a popular choice for classic car owners as it guarantees a higher payout if their car is totaled.
  • Limited use. Drivers who don’t frequently use their car can save money on their policy if they drive less than 5,000 miles per year.
  • Diminishing deductible. To reward safe driving, Safeco will reduce your deductible by $100 every year you don’t file a claim. You can earn this reward up to five times, and it never affects your rates.
  • Roadside assistance. Roadside assistance can help you in a pinch. Safeco will send help for everything between a flat tire and engine failure.
  • Emergency assistance. Emergency assistance is an add-on for your roadside assistance. If you need help while you’re traveling, this add-on covers taxi fares and lodging costs.
  • Personal property. For people who frequently have valuable items in the car, this add-on reimburses you for their actual cash value if they get damaged in an accident.

Like Hagerty, Safeco usually doesn’t offer insurance to drivers with marks on their records. If Safeco or Hagerty rejects you, you should consider a bigger company like State Farm or GEICO. While they’re not dedicated classic car companies, they’re more forgiving of marks on your record.

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How much does classic car insurance cost?

Classic car owners on a budget will be pleased to know that coverage usually costs less than a standard insurance policy.

There are many reasons for this, but the main one is that most classic car insurance policies limit the number of miles you can drive, thus keeping your car relatively risk free.

Some insurance companies are so strict about classic car mileage rules that you might have to prove you own another vehicle. That way, the company knows that you have a different vehicle for daily driving.

Consider the following companies to get an idea of how expensive it might be to insure your classic car.

CompanyAverage Monthly Price
State Farm$77
American Collectors$84
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Typically, the price of your insurance comes out to be between $600 and $1,000 a year. Of course, the exact price you’ll pay will depend on various factors unique to your situation.

Find the Right Insurance for Your Classic Car

From insurance giants like State Farm to specialized providers like Hagerty, you have plenty of options for classic car insurance. You should always choose a plan that works with whatever you do with your car, whether classic car clubs, shows, or pleasure cruises.

Once you’ve determined your coverage needs, your next step should be to compare companies. Look at as many quotes as possible to find the best rates for your classic car.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.

A former insurance producer, Laura understands that education is key when it comes to buying insurance. She has happily dedicated many hours to helping her clients understand how the insurance marketplace works so they can find the best car, home, and life insurance products for their needs.

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Written by Laura Berry
Former Insurance Agent Laura Berry

Joel Ohman is the CEO of a private equity backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He has an MBA from the University of South Florida. Jo...

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Reviewed by Joel Ohman
Founder & CFP® Joel Ohman

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