Classic Car Insurance Companies: Best Coverage (2023)

Classic Car Insurance Companies: Best Coverage (2023)

Next, we’ll take an in-depth look at each classic car company and give you details about its reputation, coverage add-ons and more.

#1 Grundy Classic Car Insurance

Availability: 50 states
Year Established: 1947
Headquarters: Horsham, Pa.

Grundy Insurance is an excellent choice for classic cars with rapidly increasing appreciation. The car insurance provider guarantees 100{e3fa8c93bbc40c5a69d9feca38dfe7b99f2900dad9038a568cd0f4101441c3f9} of the vehicle’s value in a covered total loss scenario and allows policyholders to reevaluate their car’s agreed value as needed.

Grundy boasts an accredited A+ rating from the Better Business Bureau (BBB), indicating the company’s dedication to resolving customer complaints and issues. The insurer offers the standard types of car insurance coverage — bodily injury liability, property damage liability, collision, comprehensive, personal injury protection, medical payments and uninsured/underinsured motorist.

The classic car insurer also offers spare parts coverage up to $500, trip interruption coverage up to $600, and towing and labor coverage up to $250.

#2 Hagerty Classic Car Insurance

Availability: Some coverage options may not be available in every state
Year Established: 1984
Headquarters: Traverse City, Mich.

Hagerty Insurance offers more than just a classic car insurance policy. The insurer also provides vehicle specialists to help you during any repair or replacement process and a top-notch community for car enthusiasts. Hagerty insures classic vehicles from 1979 and older.

Alongside the standard types of car insurance, Hagerty provides coverage for spare parts, trip interruptions, tools and roadside assistance. Drivers can opt into the Hagerty Drivers Club®, a membership service that offers several auto discounts, roadside assistance, auto-enthusiast events and more.

Progressive Classic Car Insurance

Hagerty has an A+ rating from the BBB, though it’s unaccredited. However, the insurer is backed by Progressive. Rather than sell its own classic car insurance, Progressive offers policies through Hagerty. This can provide peace of mind to drivers looking for a company with additional financial stability, and it can also be beneficial for drivers who want to bundle their classic car insurance with coverage for other vehicles through Progressive.

#3 American Collectors Insurance

Availability: 50 states
Year Established: 1976
Headquarters: Cherry Hill, N.J.

For classic cars, American Collectors Insurance offers agreed value coverage, vehicles in restoration coverage, spare parts coverage and automatic coverage for newly acquired vehicles.

The auto insurer also has a unique protection program called Collectors Auto Reimbursement Endorsement (CARE). This multi-tier plan provides roadside assistance, car show expense reimbursement, theft reward, cosmetic damage reimbursement and more, depending on the level of coverage purchased.

American Collectors Insurance holds an A rating with accreditation from the BBB, as well as a notably high 4.9-star rating for customer satisfaction on Trustpilot.

USAA Classic Car Insurance

American Collectors Insurance is sold through USAA, one of the most reputable car insurance companies in the nation, and underwritten by American Bankers Insurance Company of Florida, American Reliable Insurance Company and American Security Insurance Company. Each of these insurers has an ‘A’ rating from AM Best, meaning they have a strong ability to meet customer claim obligations.

#4 American Modern Classic Car Insurance

Availability: 50 states
Year Established: 1965
Headquarters: Cincinnati

American Modern offers several included protections alongside the six standard insurance coverages, such as:

  • Agreed value loss settlement: Pays out the agreed amount for a classic vehicle in the event of a total loss
  • Spare parts: Covers lost or stolen spare parts up to $2,000
  • Towing: Pays up to $75 per occurrence
  • Trip interruption: Covers up to $150 for lodging and other expenses if more than 50 miles from home
  • Pet: Covers up to $750 in pet medical bills if a pet is injured in a collision
  • New purchase: Covers any new classic vehicle (valued up to $50,000) for 30 days before a new policy kicks in

The insurer’s add-on coverages include roadside assistance, glass protection and foreign transport when overseas. American Modern does not have any BBB or Trustpilot ratings, but based on other review sites, its customer experience ratings are mixed. While the company may be a specialty insurer, it may not be the best option for customers looking for exceptional customer service.

Geico Classic Car Insurance

Like American Collectors, American Modern Insurance is sold through a larger auto insurer — in this case, Geico. Geico is respected in the industry with an A++ rating from AM Best. This means you can get quotes for both standard and classic car insurance through Geico.

#5 Heacock Classic Insurance

Availability: 48 states (not available in Alaska or Hawaii)
Year Established: 1989
Headquarters: Lakeland, Fla.

Heacock Classic Insurance is a great option for drivers looking for a five-star customer experience. Though the company is unrated on the BBB, it holds a 4.9 out of 5.0 rating on Trustpilot. Customers frequently praise the classic car insurer’s agents and their personalized service.

Heacock is underwritten by American Modern Insurance. Regarding its coverage options, Heacock offers all standard types of auto insurance and includes roadside assistance at no extra cost with any auto policy. Spare parts coverage (up to $2,000) and agreed value coverage are also included.

The insurer does not require any professional appraisals before offering coverage. A vehicle’s agreed value is decided between Heacock and the car owner.