Sara Routhier, Managing Editor and Outreach Director, has professional experience as an educator, SEO specialist, and content marketer. She has over five years of experience in the insurance industry. As a researcher, data nerd, writer, and editor she strives to curate educational, enlightening articles that provide you with the must-know facts and best-kept secrets within the overwhelming world o...

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Written by Sara Routhier
Director of Outreach

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 also has an MBA from the University of South Florid...

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Reviewed by Joel Ohman
Founder, CFP®

UPDATED: Jun 24, 2022

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The iconic beauty and history behind classic cars make them a prized possession for anyone lucky enough to own one.

As much joy as classic cars bring us, they are also a terrific investment, an investment that needs to be protected.

You probably already do everything under the sun to make sure you get the most enjoyment out of your vintage ride.

Everyone loves to keep it clean and properly sheltered.

Jaguar XK120

Jaguar XK120

You probably also make sure it is well-maintained so you can drive it worry-free and show it off on the road.

While keeping up with upkeep and giving your vintage vehicle shelter, it needs to be safe; true peace of mind only really comes when you also protect it from the unexpected.

Classic car insurance does just that.

Why Classic Coverage?

It helps make sure you get back the full insured value of your car if it gets totaled.

It lets you take comfort knowing that your dream car, your “baby,” is fully covered should you face your worst nightmare: a total loss.

Getting an insurance policy for your vintage vehicle makes sense.

Picking the right policy to ensure you get the best coverage for your vintage car isn’t always as easy as it sounds.

Getting insurance on a classic vehicle isn’t as simple as adding the car to your conventional auto insurance policy.

Insurance providers won’t sell you classic car insurance for any old car, no matter how meaningful it might be to you.

That’s why the first thing you should do when looking for the right policy is to make sure your car is considered a classic car by insurance providers.

At least 25 years old.
Have a good driving record.
Safeguard your vehicle from the elements.
Use other vehicle as your daily driver.
Live in a certain area.
Don't race your classic.
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Is Your Car Defined as a Classic?

There’s always going to be a debate about what’s defined as a classic.

Fortunately, insurance companies are transparent about what they call classic cars.

Cars protected by classic coverage policies usually fall under one of these categories:

Antique cars

Insurance providers typically define antique cars as being at least 25 years old.

However, some providers require that cars be at least 45 years old to receive the antique label.

Antique Vehicle

In addition to being at least 25 or 45 years old, these vehicles should be well-maintained and in original or original restored condition covered by classic car insurance.

Modern limited production cars

Cars that fall under this category are sometimes called exotic cars.

Some recognizable makes include Ferrari and Lamborghini, among others.

They typically have a limited production run and are not available for sale to the general public.

Vintage Vehicles

A car is usually classified as vintage if it was manufactured between the years 1919 and 1930.

Other categories often associated with classic car insurance, include the following:

  • Muscle cars, sports cars, and race cars
  • Hot rods
  • Kit cars and replicas
  • Historical vehicles (vintage military vehicles, antique tractors, and fire trucks)

Even if your car falls under one of these categories, most policies require that the car is well maintained.

That doesn’t mean the car you’re restoring in your garage can’t be insured under a classic car policy.

Some insurance providers will make exceptions and offer coverage for classic vehicles that are being restored.

If your vintage is your everyday car to run errands or commute to work, you might find that many providers will refuse to sell you coverage for a classic vehicle.

These providers clearly spell out in their policies that the insured vehicle can only be used on occasion.

That means you can still take it out for a joyride once in a while.

Just know that some insurance providers won’t be interested in selling you coverage if you plan to use your classic car every week to buy groceries.

Choosing between Classic Car Insurance and Traditional Coverage

As long as your vintage isn’t your everyday vehicle, it makes sense to buy classic car insurance.

There are two primary benefits to classic coverage that make it a much better option than adding the vehicle to your conventional auto insurance policy.

Classic coverage is more affordable

Specialized policies for classic cars often carry lower premiums than traditional auto insurance policies.

Since classics aren’t driven as frequently as everyday vehicles, there is less risk in insuring them.

That allows providers to charge less for premiums, which, in turn, saves you money.

VehicleClassic CoverageTraditional Coverage
1965 Mustang$954$1,588
1969 Corvette$876$1,492
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There are no guessing games

If the unfortunate happens and your car is totaled, you won’t have to wait to find out how much your insurance provider pays you.

When you purchase your classic car insurance policy, you and the provider will mutually agree on your car’s value.

If your car is deemed totaled after an accident, you’ll be reimbursed that agreed-upon value.

If you and your insurance company agreed on a car value of $50,000 when you purchased your policy, you’d be paid $50,000 in the event it suffers a total loss minus the deductible. 

This differs from conventional auto insurance, where your car is only covered up to its actual cash value.

That means you won’t receive the same amount you paid for your car if it suffers a total loss.

Instead, you’ll be paid a depreciated (or reduced) value of your vehicle.

Choosing a Classic Car Insurance Provider – Why Allstate Makes Sense

It might make sense to buy coverage from a provider that specializes in vintage automobiles.

These providers often have expert knowledge of the market.

If you have a fleet of vintage vehicles, an insurance company dedicated to classic cars makes perfect sense.

Working with a smaller, specialized insurance company isn’t for everyone, though.

Insurers with classic partnerships
Allstate (Hagerty)
Esurance (Hagerty)
Geico (American Modern)
The Hartford (American Modern)
Nationwide (Hagerty)
Progressive (Hagerty)
USAA (American Collectors)
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This is especially the case for those that prefer to keep all their insurance policies under the same roof.

Some conventional car insurance companies do sell their own vintage auto policy.

However, these major insurance companies usually don’t have the expertise to handle classic cars’ specialized needs.

An ideal solution for insuring your older vehicle is to purchase a policy from a conventional insurance company with a specialty partnership for classic car insurance.

That’s where Allstate comes in.

Allstate is partnered with the leading classic car insurance company, Hagerty.

With Allstate and its partnership with Hagerty, you can be confident that you’ll get the personalized service you want without having to purchase a collector car insurance policy from another company.

A Closer Look at Allstate’s Coverage

Allstate’s partnership with Hagerty allows it to offer coverage that is second to none.

Collectors can enjoy premiums that are as much as 36% lower than what they would be with traditional auto insurance.

Earlier in this article, I mentioned that many traditional insurance providers would enforce strict mileage limits when selling you a policy.

That’s not the case for Allstate.

In fact, Allstate with Hagerty has no mileage restrictions included in their policy.

Hagerty Benefits 
Lower cost than daily driver coverage.36%+ lower than average.
Guaranteed value coverage.You get paid the agreed upon value of your car.
No fixed mileage.No restrictions on mileage.
Hagerty's Driver Club.Flat bed towing, not a traditional tow truck.
Exceptional claims handling.Trained in the vintage market.
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That means you can get the most out of your classic car.

You can drive it when you want to drive it.

As an owner, you probably have a preferred mechanic.

After all, you wouldn’t trust just anyone with your prized possession.

While many traditional insurance providers prefer you to use their own affiliated body shops to repair your vehicle, Allstate puts the power in your hands.

With their flexible claim service, and comprehensive coverage options, you can choose where your car gets repaired.

That means you can use the body shop technician you know and trust without all the red tape that frequently comes with insurance policies.

The benefits don’t stop there.

With Allstate (check it out here), you’ll get access to Hagerty’s Drivers Club, a full-service roadside assistance program that specializes in classic cars.

You’ll also get the benefit of Hagerty’s classic car expertise and restoration coverage, and access to other optional coverage for your antique vehicles.

This will come in handy when you need to track down hard-to-find parts for repair or restoration.

Still Not Sure You Need or Want a Classic Policy?

Classic car insurance coverage isn’t for everyone.

If you don’t drive your vintage car or don’t need all the coverage services, it might make sense to explore other options.

If you have your homeowners or property insurance policy with Allstate, you may want to discuss with your agent how you can declare your classic car as valuable property.

This would be an enticing option if you store and lock up your car on-site.

Another option you could consider is adding umbrella liability to your traditional car or homeowner’s policy.

By adding umbrella liability, you can enjoy a little peace of mind knowing you have coverage beyond your usual liability limits.

Insuring your classic is a no-brainer

You’ve invested time and money buying and taking care of your prized possession. You might want to share your love of collector vehicles with a classic car club like Antique Automobile Club of America.

Whether you’re driving an auto auto or a modern classic, classic car insurance lets you rest easy, knowing that your investment is protected.

When you insure your vintage vehicle through classic car coverage with Allstate and Hagerty, you’ll get the convenience of a conventional insurance provider and the expertise of one that specializes specifically in classic cars.


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