For car lovers, few things beat driving a restored 1968 Camaro or showing off a mint Model A at a weekend show. But when it comes to protecting your classic, a standard auto policy won’t cut it.
If you own a classic car, antique auto, or collectible vehicle, you need classic car insurance. Here’s why it matters.
Why Standard Auto Insurance Isn’t Enough
Standard auto policies are for cars driven daily. They assume vehicles lose value over time. But classic cars often go up in value. In fact, Hagerty reports that collectible car values rose by an average of 18% in 2022. If your car is totaled, a standard policy may only pay “book value.” That could be far less than its real worth. With classic car insurance, you and your insurer agree on the car’s value (known as “agreed value”) up front — so you know exactly what you’d receive if the worst happens.
Key Features of Classic Car Coverage
Here are a few unique benefits you can expect with a specialty policy:
✅ Agreed value coverage: No depreciation surprises.
✅ Lower premiums: Because classic cars are usually driven less, rates can be lower.
✅ Spare parts coverage: Many policies include coverage for hard-to-find replacement parts.
✅ Flexible mileage limits: Policies account for show attendance and pleasure drives — not daily commuting.
Who Qualifies for Classic Car Insurance?
Insurers typically require:
🚗 The car is at least 20–25 years old (younger for certain “modern classics”).
🚗 The vehicle is kept in a secure garage or storage facility.
🚗 The car isn’t your primary means of transportation.
🚗 You have a clean driving record.
Some policies also cover newer exotic or limited-edition vehicles — even if they’re less than 10 years old.
How to Get Started
If you’ve invested time, money, and heart into your vehicle, don’t risk underinsuring it. At Smart Insurance Agency, we work with top specialty carriers like Hagerty, Safeco, and others to find the right fit for your classic.
Visit Hagerty’s Valuation Tools to see what your car is worth today — then give us a call to discuss your options.
Classic Car Fun Fact
Did you know? According to SEMA, there are over 5 million classic and antique vehicles registered in the U.S. today — and that number keeps growing as more enthusiasts join the hobby.
Ready to Protect Your Classic?
Contact us today at 417-258-2541 or https://www.smartinsuranceagency.com/contact/ to get a free, no-obligation quote on classic car insurance. You’ve already made the investment — now let us help you protect it.
Sources: Hagerty Market Trends, SEMA Market Report