Classic car insurance

Protection built for a classic

Driving your classic car can make you feel like you own the open road. But it may take more than traditional auto insurance to help protect something so special. You can help better protect your ride by talking to your agent about classic car insurance.

Traditional auto coverage may not offer the special protection your classic car needs. Unlike an ordinary policy, classic car insurance may reimburse you for your vehicle's value if it's damaged or destroyed. An agent can give you a quote and write up your policy.

First, it may help to understand the distinction between a "classic" car and a "collector" (or "enthusiast") car. (Specialized insurance policies may be available to cover either.)

"Enthusiast vehicle" is a term used to broadly categorize vehicles that are not daily drivers, maintain or appreciate in value, and are of limited production or special interest. Within the "enthusiast vehicle" umbrella, good-condition cars from the 1970s or earlier may be considered "classic" cars. A "collector" car may be prized more for its unique appeal or features worth preserving rather than its vintage. In other words, a collector car isn't necessarily classified by its model year. Popular enthusiast car models include Chevrolet Corvette, Ford Mustang, Mazda Miata, and Porsche 911 – among many others.

Agreed value.
A big difference between a collector car and a regular vehicle is the insurance value of the vehicle. Most insurers of daily driver vehicles offer Actual Cash Value policies. This is what an insurance adjuster says your car is worth, usually based on used car values – not the enthusiast car market. If a fully restored 1960s roadster is in an accident or stolen, a standard insurance appraiser can't easily pull estimates of comparable cars from a website and give you a fair value of the vehicle or the necessary repairs.

A classic car insurer works with the vehicle's owner to assign the vehicle an "agreed value" at the time of writing the policy. That number may take into consideration current market value, condition and improvements, cost of replacement and special-order parts, and more. It's usually a much higher valuation than a traditional auto insurer would give the car based simply on age and mileage. This type of coverage helps ensure you'll be compensated for the true cost to repair or replace your collector vehicle.

Usage restrictions.
The more your classic car is on the road, the more chance there is of it being in an expensive accident. Some classic car policies have strict mileage limitations; others are more flexible. There may be mileage limits or coverage only for certain types of driving like pleasure usage. So, you may not be able to use the vehicle for daily commuting. Be sure to ask about usage options for your coverage.

Safe storage.
Vehicle storage requirements vary by company and location. No matter the requirements, making sure your vehicle is protected in adequate storage conditions is recommended.

Vehicle condition.
If you're restoring a "project car," you may be able to add an endorsement to your classic car policy to help protect both the car and your tools.

In addition to the protection offered by conventional auto insurance, a classic car policy can help protect your car's unique needs:

• Protect the value of your car:
  In the event of an accident, you should be covered for the value of your car.
• Flexible claim service:
  Choose where your car gets repaired.

An Allstate agent can offer protection for a wide variety of classic rides:

• Antiques and classics
• Modern classics from the 80s, 90s and 2000s
• Muscle cars, sports cars and race cars
• Classic trucks and SUVs
• Modified vehicles, hot rods and replicas
• Custom builds and vehicles under restoration
• Old military vehicles, antique tractors and retired fire trucks