Who Offers Classic Car Insurance? A Comprehensive Guide for Collectors

Introduction

Hey readers, are you the proud owner of a timeless classic car? If so, you know that protecting your investment is paramount. Classic car insurance is a specialized type of coverage designed to safeguard your vintage masterpiece. In this article, we'll delve into the world of classic car insurance, exploring who offers it and what to look for when selecting a policy.

Insurance Companies That Offer Classic Car Insurance

Hagerty

Hagerty is a renowned provider of classic car insurance, offering comprehensive coverage for vehicles that are at least 25 years old. They specialize in collector cars and provide options such as agreed value coverage, roadside assistance, and trip interruption reimbursement.

Grundy

Grundy Insurance is another top choice for classic car owners. They offer a range of policies, including coverage for modified vehicles and high-value collectibles. Grundy's policies include agreed value coverage, guaranteed value coverage, and spare parts coverage.

American Collectors Insurance

American Collectors Insurance provides comprehensive coverage for a wide range of classic cars, motorcycles, and boats. They offer agreed value coverage, roadside assistance, and a restoration cost guarantee. Additionally, they provide tailored policies for specific makes and models.

Factors to Consider When Choosing Classic Car Insurance

Agreed Value vs. Stated Value

Agreed value coverage guarantees that you receive the agreed-upon value of your classic car in the event of a total loss. Stated value coverage, on the other hand, pays out the actual cash value of the car at the time of the loss.

Mileage Restrictions

Classic car insurance policies often come with mileage restrictions to keep premiums low. Consider your typical driving habits and choose a policy that aligns with your needs.

Restoration Cost Coverage

If you're planning on restoring your classic car, make sure to look for a policy that includes restoration cost coverage. This coverage protects you against the additional expenses incurred during a restoration project.

Other Aspects of Classic Car Insurance

Liability Coverage

Like standard auto insurance, classic car insurance provides liability coverage to protect you in case you cause an accident. Be sure to choose limits that provide adequate protection.

Medical Payments Coverage

Medical payments coverage helps pay for medical expenses incurred by you or your passengers in the event of an accident.

Uninsured/Underinsured Motorist Coverage

This coverage protects you if you're involved in an accident with an uninsured or underinsured driver.

Table: Classic Car Insurance Providers

Provider	Coverage Options	Mileage Restrictions	Restoration Cost Coverage
Hagerty	Agreed value, roadside assistance, trip interruption reimbursement	Varies	Optional
Grundy	Agreed value, guaranteed value, spare parts coverage	Varies	Optional
American Collectors Insurance	Agreed value, roadside assistance, restoration cost guarantee	Varies	Optional
Collector Car Insurance Agency	Agreed value, stated value, liability coverage	Varies	Varies
Classic Auto Insurance	Agreed value, stated value, roadside assistance	Varies	Varies

Conclusion

Choosing the right classic car insurance is crucial to protecting your valuable investment. By considering the factors discussed in this article, you can select a policy that meets your specific needs. Should you have any further questions about classic car insurance, be sure to check out our other articles for more detailed information.

FAQ about Classic Car Insurance