Best Classic Car Insurance: Grundy vs Hagerty vs American Modern & More

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Sure, classic car insurance won’t cover your DeLorean to travel “Back to the Future,” but there are many reasons why you need to insure your prized possession. Antique auto shows, parades, classic car club meetings, pleasure riding… If you’re a collectible car owner, you need vehicle insurance coverage for any type of event.

Classic Car Insurance 101

You need to be familiar with several specific classic car insurance terms before purchasing a policy.

Classic vs Antique

Couple riding in classic Thunderbird car (caption: Best Classic Car Insurance)

A motor vehicle’s classification can make a difference in taxes and insurance. Generally, “classic” applies to vehicles over 20 years old, and “antique” cars are over 45 years old. “Vintage” cars were built between 1919 and 1930.

Insurance companies, however, vary widely in how they classify cars. Some companies consider a car an antique when it’s more than 25 years old, fully restored, and in good working order. A few insurance providers will even classify certain cars as classic when they’re just past ten years old.

Stated Value vs Agreed Value

New and used vehicles begin depreciating as soon as you drive them off the lot, so standard insurance companies insure them according to their Actual Cash Value or Stated Value.

Because of this depreciation, insurance companies adjust your payout in the event of a total loss based on what the car would be worth just before the accident (Stated Value) instead of what you originally paid.

Classic and antique vehicles are assessed on a different level. They generally appreciate in value with proper maintenance, so many specialty insurers guarantee an “Agreed Value” coverage that’s based on the value of your car.

You and the insurance company determine an agreed value based on appraisals, photos, and other documentation. With agreed value coverage, the insurance company guarantees that they will pay this agreed-upon value in the event of a covered total loss.

All of the insurance companies in our reviews here offer agreed value coverage.

Inflation Guard

Some companies include an “Inflation Guard” as part of their policy benefits. Most collector vehicle values appreciate over time. This is unlike modern cars, which depreciate in value after purchase.

Some insurance policies will automatically increase your vehicle’s value by a certain percentage every quarter or year as part of their standard coverage so that your insurance policy keeps up with the appreciating value of your vehicle.

Daily-Use Restrictions

Many classic and antique car insurance plans restrict the daily use of your collectible vehicle. Generally, this means that you’re not covered if you use your classic car to go to work, run errands, etc. As with any insurance product, make sure you review the policy’s terms and conditions carefully. You’ll want to know precisely what the usage restrictions are. Otherwise, you might have an accident that isn’t covered.

In most cases, you must have a daily-use car insurance policy in addition to your classic vehicle insurance. Some companies also mandate that every licensed driver in your household has a standard auto insurance policy and a car of their own (although there are exclusions, i.e., for a full-time student away at college).

Best Classic Car Insurance

Most of the companies we review here cover classics, collectibles, antiques, modified cars, hot rods, classic motorcycles, and more. We based our reviews on several factors, including company strength, reputation, level of coverage, additional benefits, and more.

Winner: Hagerty Review

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Hagerty specializes in insuring antique, classic, and collectible vehicles. They offer low premiums, a guaranteed agreed value, and customized policies for an incredible variety of vehicle types. All policies include $750 of comprehensive coverage for spare parts.

They also have several low-priced add-on options. With Hagerty’s restoration coverage $20/year option, the insured value of your car increases 10% per quarter (up to $25,000) until the restoration is complete, and you get $750 of coverage for automotive tools.

For just $25 per year, you can also add $1,500 coverage for trip interruption reimbursement and $10,000 accidental death coverage.

In addition to classic and antique cars, Hagerty also specializes in insuring specific collectible “modern” cars and supercar/exotic vehicles. These include some vehicles 1980 and newer that are maintained for collector vehicle activities and are of a unique interest nature (e.g., Mustangs, Corvettes, Miatas, Ferraris, etc.).

Supercar/exotic vehicles manufactured in 2000 and later may also be eligible (e.g., Lamborghinis, Aston Martins, Dodge Vipers, etc.). Learn more about modern and exotic car qualifications and requirements in our full review of Hagerty.

Hagerty comes highly recommended by thousands of classic and collectible car owners for their prompt service and exceptional customer support.



  • In business for nearly 40 years
  • No mileage limitations for classic/antique cars (as long as it’s not a daily-use car)
  • $750 of coverage for lost or stolen spare parts and $250 for personal items
  • Automatic 30-day coverage if you buy a second collectible car
  • Optional restoration coverage
  • Roadside assistance add-on
  • Not BBB accredited: A+ rating
  • Some model-year and value restrictions
  • Several users report 3-4 hour wait times for their flatbed towing assistance

Read Our Full Review Of Hagerty

Runner-Up: American Modern Insurance Review

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American Modern Insurance offers feature-rich, agreed-value plans that are highly customizable with four mileage limit options, deductible options from $0 to $10,000, and several add-ons.

Some of American Modern’s standout policy features include an industry-leading $2,000 coverage for spare parts, an unlimited mileage plan, and up to $750 for vet expenses if your pet gets injured in the vehicle.

Every policy also includes $75 reimbursement for towing and $150/day to cover lodging and other expenses if you break down more than 50 miles from your home for more than 24 hours.



  • In business since 1965
  • Unlimited mileage plan available
  • $2,000 coverage for lost or stolen spare parts
  • Automatic 30-day coverage if you buy a second collectible car (up to $50,000)
  • Emergency assistance add-on
  • Discounts for collections, anti-theft devices, club memberships, and more
  • BBB accredited: A+ rating
  • Some model-year and vehicle value restrictions
  • A few customer complaints about slow claims processing and denied claims

Check out American Modern’s video to learn more about their specialty insurance.

3rd Place: Grundy Review

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Grundy Insurance doesn’t solely provide classic car insurance, but they have a long track record as one of the top classic car insurers in the industry.

What are Grundy’s standout policy features? They allow you to purchase up to $1 million in liability coverage. You also get $600 coverage for trip interruptions due to collisions or breakdowns and $250 for emergency towing.

Grundy also offers policies for car restoration and car building businesses, homeowners insurance, and coverage for car collections. You can even combine all your vehicles (collectors, daily drivers, motor homes, etc.) on one “MVP” agreed-value policy.



  • In business since 1947
  • No deductibles in most states
  • No mileage limitations (as long as it’s not a daily-use car)
  • Inflation guard: 4% increase each year
  • Emergency towing included in policy (up to $250/year)
  • Covers all 50 states
  • BBB accredited: A+ rating
  • Some vehicle value restrictions
  • Personal restoration coverage unavailable
  • Must keep your vehicle in a locked garage to qualify

Comparison Table

Check out our side-by-side comparison table for an easy way to compare benefits, payouts, and other features for all the companies we review here.

 HagertyAmerican ModernGrundyAmerican CollectorJC TaylorSafecoState Farm
Mileage Limitations Per YearUnlimited1,000, 3,000, 6,000 & UnlimitedUnlimited2,500, 5,000 or 7,500Unlimited5,000 or 10,0002,500
Spare Parts Per Year$750 & $250 for personal items$2,000$500$500UnlistedUnlisted$500
Coverage While Under Restoration Unlisted 
Roadside/Emergency AssistanceAdd-on: $45+/year$75 towing includedAdd-on: VariesUnlistedAdd-on AvailableAdd-on available
Trip Interruption$25/Year Add-on coverage: $1,500Included: $150/dayIncluded: $600Add-on: VariesUnlistedAdd-on Available 
Driver Age RestrictionsNoneNone255-Year Licensed Driver25NoneNone

What Are My Other Options?

American Collectors Insurance Review

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American Collectors Insurance is another solid option for classic vehicle insurance, with competitively priced premiums, agreed value, multiple liability and deductible choices, and a good customer support reputation.

Their TLC add-on plan is unrivaled in the industry — for an average of $35 per year, you get emergency towing, roadside and lockout assistance, theft rewards, and coverage for emergency travel expenses, personal effects, and even legal defense benefits.



  • In business since 1976
  • Inflation guard: up to 6% per year
  • Automatic 30-day coverage if you buy a second collectible car (up to $100,000)
  • Insurance coverage during restoration
  • Exceptional emergency assistance add-on plan
  • Discounts for multiple vehicles and collections
  • Available in all 50 states
  • Mileage limitations with every policy
  • Some model-year and vehicle value restrictions
  • Not BBB accredited: A rating

J.C. Taylor Review

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J.C. Taylor is one of the oldest companies that offers classic and antique auto insurance, and they still have a trustworthy reputation. They also provide exotic, hot rod, custom, and modified car insurance.

Unfortunately, J.C. Taylor’s website lacks any information about the benefits they include with their agreed-value policies. You either have to call them or submit an online form with your address, email, and other contact information to request a quote.



  • In business 60+ years
  • Competitive premiums
  • No mileage limitations (they use 2,500 for underwriting purposes only)
  • Website lacks any kind of benefit information
  • $250 deductible on physical damage coverage in most states
  • Must keep your vehicle in a locked garage to qualify
  • Not BBB accredited: A+ rating

Safeco Insurance Review

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Safeco, a Liberty Mutual Insurance company, is a well-known auto and home insurance provider that also offers two benefit-rich classic car insurance policies with agreed-value coverage.

If you drive your classic car frequently, Safeco’s “Regular-Use” policy could be just the ticket — you can drive up to 10,000 miles annually. Their “Restricted-Use” policy is limited to 5,000 miles per year.



  • Parent company, Liberty Mutual, has been in business for 100+ years
  • Regular-use plan covers up to 10,000 miles per year (even for daily use)
  • Collision deductible reduced $100/year if you remain claim-free (up to 5 years)
  • Roadside and emergency assistance add-ons available
  • Ability to bundle classic auto insurance with daily-use and homeowners insurance
  • BBB accredited and A+ rating (for parent company Liberty Mutual), which also has an alert on their file
  • Some model-year and value restrictions
  • Payouts unavailable on website
  • No restoration coverage available
  • Some complaints about poor customer service
  • Must keep your car in a locked garage

State Farm Insurance Review

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State Farm is a big name in the insurance industry, and they offer agreed-value classic and antique car insurance in all 50 states. Coverage and payouts vary by state, so you have to contact a local State Farm agent to get all the details.

Available coverage includes:

  • Liability
  • Medical payments/no-fault
  • Comprehensive
  • Collision
  • Uninsured/underinsured motor vehicle
  • Emergency road service



  • In business since 1922
  • Insurance coverage during restoration
  • Spare parts coverage up to $500
  • Emergency assistance add-on available
  • Good customer service reputation
  • Some model-year and value restrictions
  • Mileage limits are unlisted, but they say their policies are for “very limited use”
  • Not a lot of information on website
  • Not BBB accredited:  A+ rating

Frequently Asked Questions

Here’s some common questions we get from our readers regarding classic car insurance. Got your own? Ask us in the comments.

When Does A Car Become A “Classic” For Insurance Purposes?

Great question! We get this one a lot. Among car aficionados, a car is often considered classic when it has historical interest and is at least 10 years old, but insurers have their own rules for issuing a policy.

The Insurance Information Institute (III) says a car is considered a classic when it’s at least 25 to 30 years old. Progressive mentions a minimum of 10 years, Nationwide mentions an age range of 20 – 40 years, but none of these figures will guarantee coverage for your particular model. More information in our classic vs antique section above.

We recommend you start by getting a quote from the providers we review above.

How Can I Insure A Classic Car As A Daily Driver?

Unfortunately, you can’t. Classic car insurance is not designed to cover a car you drive every day, it’s meant for secondary, or collector vehicles. If your classic car is your primary ride, you’ll need to cover it with a standard automobile insurance policy. More details in our daily-use restrictions section above.

Smart Home Protection

You’ve put a lot of effort into insuring your vehicle, but what about your home? A home warranty can save you thousands of dollars a year in repair costs, appliance replacements, and more. Check out our home warranty reviews to learn more.

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Disclaimer: Information regarding insurance company offerings, pricing, availability, and other contract details are subject to change by the insurance company at any time and are not under the control of this website. Information published on this website is intended for reference use only. Please review your policy carefully before signing up for a new insurance contract or any other contract as your unique circumstances will differ from those of others who may be used for example purposes in this article.

The information provided through this website should not be used to diagnose or treat a health problem or disease; it is not intended to offer any legal opinion or advice or a substitute for professional safety advice or professional care. Please consult your health care provider, attorney, or product manual for professional advice. Products and services reviewed are provided by third parties; we are not responsible in any way for them, nor do we guarantee their functionality, utility, safety, or reliability. Our content is for educational purposes only.

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