What Does Classic Car Insurance Cover?
Standard auto policies use actual cash value — which factors in depreciation. Classic car insurance works differently, protecting the true value of your investment.
Agreed Value Coverage
You and the insurer agree on the vehicle's value upfront. If your classic is totaled or stolen, you receive that full amount — no depreciation deducted. This is the gold standard for collector vehicles.
Spare Parts Coverage
Covers original and reproduction spare parts stored at your home or garage. Many classic car owners keep valuable parts on hand — this ensures they're protected.
Restoration Coverage
Covers a vehicle currently under restoration — even before it's fully operational. Protect your investment throughout the restoration process.
Liability Protection
Standard liability coverage protects you if you cause injury or property damage while driving your classic — at shows, on pleasure drives, or during transport.
Limited / Pleasure Use
Classic car policies are designed for occasional use — car shows, weekend drives, and special events. Lower mileage = lower premiums compared to daily drivers.
Trailer & Transport Coverage
Covers your classic vehicle while it's being transported on a trailer to shows, storage, or a repair shop.
Agreed Value vs. Actual Cash Value
❌ Actual Cash Value (Standard Auto)
A standard policy pays what your car is worth at the time of loss — after depreciation. A 1969 Camaro purchased new for $3,000 with standard coverage might pay out a fraction of its true collector value. This is not the right coverage for a classic.
✅ Agreed Value (Classic Coverage)
You and the insurer agree on your vehicle's value when you take out the policy. If your car is totaled or stolen, you receive the full agreed value — no arguments, no depreciation surprises. This protects what you've invested.
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