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How Does Classic Car Insurance Work?

Blog graphic with mountain background and title "How Does Classic Car Insurance Work?"
Carl Pash

Carl Pash

Carl Pash is the President of Alliance Insurance of the Rockies and has over 25 years of experience working with insurance claims. Carl has a mission to match customers with the best insurance products through personally getting to know his customers, allowing him to protect their financial security.

Classic car insurance is specifically designed for classic cars. While not required by law, it is often recommended by classic car experts and enthusiasts. Benefits of classic car insurance include protection from financial loss in an accident, theft, or natural disaster. If you own a classic car or are thinking about purchasing one, classic car insurance is definitely something to consider. If you’re wondering, “How does classic car insurance work?,” continue reading to learn about coverage options and classic car requirements. 

Alliance Insurance of the Rockies is a Colorado-based insurance company that is committed to getting you the right coverage at the right price. We specialize in home, auto, and renters policies designed to protect your home and belongings. In an emergency, you want to be able to rebuild and replace what you’ve lost without worrying about being underinsured. If you have questions about coverage for your prized classic car, we’d love to help.

What is Classic Car Insurance?

Classic car insurance is a type of insurance designed to offer additional protection to classic, antique, and collector vehicles. With a standard policy, depreciation and mileage affect the amount your car is insured for, even if it has been restored or its value has increased over time. Classic car insurance allows you to set an insurance value with the help of your agent so that you can cover the cost of repairs if your classic car is damaged.

What Does Classic Car Insurance Cover?

A blue Alpine classic car in the middle of a road.

Classic car insurance covers standard collision, liability, and property damage coverage. Sometimes your insurer will place restrictions on driving a vehicle covered under a classic car policy, however. This can include yearly mileage limits or requirements that you own a different car for daily driving.

The main benefit of a classic car policy is coverage for specialized repairs and restorations. Repairing a classic car after an accident can be costly. Parts are often discontinued or difficult to find, so you may end up paying a premium. 


You’ll also probably need to hire a specialist to complete the repairs rather than going to your normal mechanic. According to the III, taking your classic car to a specialist costs 2-3x the cost of a regular car repair. Your classic car coverage also includes specialized towing services to get your classic car to the shop.

Do You Need Insurance for an Antique Car?

Yes, you need classic car insurance if your vehicle is considered a classic or antique car. Though a traditional auto policy will protect you from accident liability, your insurance payout in the event of an accident wouldn’t cover the cost of repairs to your vehicle. If you’re planning to drive your classic or antique car on a regular basis, classic car insurance is a must. If you’re not sure whether your vehicle qualifies as a classic or antique car, contact your insurer to find out.

Classic Car Requirements

For insurance purposes, classic cars are typically defined as vehicles that are at least 25 years old. However, some insurers may consider classic cars to be those that are 20 years old or older. Classic cars are also typically worth more now than they initially sold for new. Classic cars are often collector’s items and may be used for occasional leisure driving or special events, such as classic car shows.

To qualify for classic car insurance, your vehicle must be in good working condition and not have previous damage. Many classic car policies place yearly mileage limits on your vehicle, so make sure that you choose a policy that fits your needs. Other common requirements are a clean driving record for the insurer and a safe storage location for the vehicle when it’s not being driven.

Benefits of Classic Car Insurance

There are many benefits to classic car insurance, including:

  • Protection from financial loss in an accident, theft, or natural disaster
  • Coverage for the vehicle’s agreed-upon value that can be adjusted as the value appreciates
  • Additional coverage for things like spare parts and restoration costs
  • The ability to drive your classic car without worry
  • Roadside assistance

If you own a classic car, classic car insurance can give you peace of mind knowing that your prized possession is properly protected.

How Much Does Classic Car Insurance Cost?

The cost of classic car insurance varies depending on a number of factors, including the make and model of your vehicle, its age and condition, your driving history, and the level of coverage you need. However, classic car insurance is typically more expensive than traditional auto insurance. That’s because classic cars are often worth more than their depreciated value and can be more expensive to repair.

Get a Classic Car Insurance Quote with Alliance Insurance of the Rockies

You’ve likely invested a lot of time and money into your classic car, so you want to ensure it’s protected against accidental damage. Our insurance experts at Alliance Insurance of the Rockies can help you determine the amount of coverage you’d need for your classic car. We’ll estimate the value of your vehicle based on make, model, and condition and recommend a plan that will allow you to replace parts and pay for repairs if the need arises. Contact us today to get started. 

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