Antique car insurance

Antique car insurance is a specialized auto policy that protects vehicles classified as antiques, typically at least 25 years old, such as a 1965 Ford Mustang or a 1932 Packard. Insurers require limited annual mileage–often under 5,000 miles–and safe storage in locked garages or facilities like classic car storage units.

Companies like Hagerty and Grundy mandate proof of vehicle value through appraisals or sales receipts for stated value coverage. Premiums are lower than standard auto insurance; for example, average antique policies cost $300–$1,000 annually compared to $1,500–$2,000 for regular cars.

Policies exclude daily use and may not cover driving to work or errands but allow trips to shows and parades, such as participation in the Pebble Beach Concours d’Elegance. Claims pay out on agreed value instead of actual cash value, avoiding depreciation deductions common with standard auto policies, Your Insurance Info states.

Qualifying drivers must maintain clean records; insurers often reject applicants with recent DUIs or speeding violations. Some policies include roadside assistance designed for flatbed towing of classics like Chevrolet Bel Airs, rather than hook-and-chain methods used on modern vehicles.

Policyholders can insure spare parts up to $2,000 for restorations involving original engines or trim. Multi-vehicle discounts apply when you insure collections like several Model Ts or Corvettes under one policy.

Documentation requirements include photographs showing unique features–such as original wood dashboards–or restoration status before approval. Owners may choose add-ons like coverage for memorabilia displayed with cars at events such as Hershey’s Antique Auto Show.