Insurance policies for classic cars are different from standard auto insurance policies, both in terms of price and coverages. It’s essential to have the right classic car—or antique car—insurance policy to help limit out-of-pocket expenses related to accidents.

How expensive is classic car insurance?
Classic car insurance differs from owner to owner, but it tends to be less expensive than standard car insurance. According to WalletHub, a classic car policy might cost anywhere from $400 to $1,000 annually. In contrast, a standard auto insurance policy might cost well over $1,000 per year. Costs can vary depending on the value of your classic car and your location. Contact the agents at Cowey Insurance Group with any additional questions.
What is included in classic car insurance?
Depending on a variety of factors, such as car age and model, a typical classic car insurance policy might include any of the following coverages:
- Uninsured/underinsured motorist coverage
- Liability coverage
- Injury protection
- Medical payments coverage
The primary difference between a classic car insurance policy and standard auto insurance is agreed value coverage. Agreed value is a type of coverage where you and your insurance company agree upon the value of your vehicle when you take out the policy. This value is usually determined by an appraiser. This contrasts with regular auto insurance, where your insurer would most likely determine the value of your car based on comparable models.
Is classic car insurance necessary?
Classic cars, sometimes referred to as collectibles, tend to be expensive investments. Having a classic car insurance policy is the best way to limit costs if there is an accident.
If you are considering a policy, you will likely qualify if your car meets any of the following requirements:
- At least 25 years old
- Exotic
- Modified
- A modern muscle car
Your vehicle also should be in good condition and not used for commuting or other daily activities. Be sure to contact our agency with any questions regarding policy options.
Contact us today
If you are a classic car owner near New Bern, North Carolina, our agency can help with your insurance needs. Contact the agents at Cowey Insurance Group today at 252-638-1345 to learn more.