What’s The Best Collector Car Insurance? Top 9 Revealed [2019]

Car accident

If you have a car collection that contains vintage, classic, or specialty cars that are meant more for preservation than for driving, your insurance needs will be different from the average driver's. Most car owners have never heard co collector car insurance, but finding the best collector car insurance is an essential for any vintage car collector. Even if you don't plan on taking your most valuable cars out on the road often or at all, you'll want them protected from any eventualities.

Auto insurers have been protecting classic cars for decades, through a unique process called agreed-value insurance. With this system, the best collector car insurance policies are designed more like a negotiation, with the insurer assessing the collection and agreeing on a value with the owner. Policies are more customizable with the owner's needs and assets than the standard car insurance policy, which is based more on the client's driving record and demographics.

If you're looking for the best collector car insurance, you should look away from the top American insurance companies and towards specialty insurers who work with classic car owners. Here at Policy Academy, we've put together a list of the best collector car insurance based on their flexible policies, additional features, and price points. Read on to discover the best collector car insurance to make sure your collection is protected from any hazards.

Product FAQ

What Is Collector Car Insurance and How Does It Differ From The Average Insurance Policy

Do Major Car Insurance Companies Offer Collector Car Insurance?

Does The Best Collector Car Insurance Offer Accident Protection?

Can Collector Car Insurance Be Bundled With Other Insurance Policies?

How Do I Sign Up For The Best Collector Car Insurance?

How We Reviewed

Car accident and a stop signage at the middle of the picture

Image by Tumisu from Pixabay

The following list of the best collector car insurance companies was reviewed based on the following parameters – affordability of premiums, flexibility of policies, customer service, claims process, included perks and features, optional perks and features, and ease of bundling with other insurance policies.

Overall Price Range

Many people expect the best collector car insurance to be more than regular insurance, but this isn't the case. As collector car insurance is built to insure the asset rather than to provide liability insurance, it depends on the number and value of the cars insured. Progressive offers classic car insurance and theirs averages around $275 less per year than their standard policy and this percentage is similar with other insurers.

What We Reviewed

  • American Modern Insurance Company
  • Grundy International Insurance
  • Safeco Insurance
  • American National Insurance
  • Hagerty Classic Car Insurance
  • State Farm Insurance
  • American Collectors Insurance
  • J.C. Taylor Insurance
  • Heacock Classic Car Collector Insurance
American Modern Insurance

Image Source: www.valuepenguin.com


Backed by Geico, American Modern Insurance Company is one of the largest insurers of classic cars in the United States and gets high marks for its many features and highly customizable agreed-value policies. It's ideal for classic car owners who want to drive their cars thanks to its mileage-limit options. Deductibles can range from $0 to $10000, and the company helps you repair your cars with up to $2000 in spare parts coverage.

American Modern Insurance Company is known for its all-inclusive policies, offering money back for towing, vet expenses for injured pets, and up to $150 a day if an accident leaves you stranded. You can get discounts for installing anti-theft devices or for insuring more than one car, and the 2% per quarter inflation guard keeps your premiums low. Negatives include spotty customer service and reports of slow claims processing, but this company's eighty-year history has made it a favorite with customers.

A.M. Best Financial Strength Rating


Where to Buy

Grundy Insurance

Image Source: planetforge.org


Grundy International Insurance has been providing all-purpose car insurance since 1947 and it's developed a trusted track record as one of the best insurers of collector cars on the market. They're a high-roller insurance agency, offering up to a million dollars in liability coverage, but they take care of their clients with coverage for incidentals like up to $250 in emergency towing coverage and up to $600 coverage for lodging or other trip interruption expenses.

While they specialize in private insurance policies, they offer deals for car restoration and car design businesses, and you can bundle your classic car insurance with all other vehicles (regular driving, motor homes, smaller vehicles) and your home insurance. With no model year restrictions and a 4% inflation guard per year, they're a popular choice for owners of large collections. Drawbacks include the lack of personal restoration coverage and the requirement that you keep your vehicle in a locked garage.

A.M. Best Financial Strength Rating

Grundy is underwritten by a collection of investors with A++, A+, and A ratings

Where to Buy

Safeco Insurance

Image source: www.safeco.com


Safeco Insurance is a division of major insurance company Liberty Mutual, offering coverage for regular driving and home insurance. However, they also provide coverage for classic cars under a duo of popular models. For those who drive their classic car regularly, the “Regular Use” policy lets you drive up to 10,000 miles annually, while the “Restricted Use” policy gives you up to 5,000 miles a year.

With Liberty Mutual having a hundred-year record of providing insurance, Safeco is seen as one of the more trusted brands in the field and offers a lot of user-friendly features. They offer a deductible-reduction policy, roadside and emergency assistance, and the ability to bundle your classic car policy with your home and regular auto insurance. Negatives include the lack of restoration coverage, spotty customer service, model-year and value restrictions, and the requirement to keep your car in a locked garage.

A.M. Best Financial Strength Rating

Safeco has a financial strength rating of A and an issuer credit rating of A+.

Where to Buy

American National Insurance


American National Insurance is a large insurance company that makes its name by offering bundles of home, auto, boat, and life insurance in one reasonably priced package. However, it has a loyal audience among classic car fans because it offers some of the deepest discounts in the field. If you're a member of the National Street Rod Association, you can get a 10% discount and the company attracts collectors because it offers up to 85% discounts for those who insure large numbers of cars.

American National offers standard insurance policies, but their classic car insurance rates depend on make and value. They get high marks for their discount opportunities, their top-rated customer service, and their in-person agents around the United States. Their main negative is that their site is difficult to navigate and doesn't offer specific information about policies.

A.M. Best Financial Strength Rating

American National Insurance has a financial strength rating of A.

Where to Buy

Hagerty Classic Car Insurance

Image Source: bicesterheritage.co.uk


A specialty company that focuses on insuring antique and classic cars, Hagerty Classic Car Insurance is backed by major insurer Essentia and offers low premiums based on a guaranteed agreed value. They insure all vehicle types and work with customers to develop customized policies that include a variety of add-ons. For only $20 a year you can add restoration coverage with a 10% value increase per quarter and $750 in coverage for repair tools, and for $25 a year you can add coverage for trip interruptions and accidental death.

In business for over 25 years, Hagerty has developed a fast reputation as one of the best classic car insurers in the field. They add automatic thirty-day coverage if you buy another classic car, and you can add roadside assistance for a small fee. While customer service is strong, some customers complain about long waits for towing assistance and the model-year and value restrictions.

A.M. Best Financial Strength Rating

Hagerty is underwritten by Essential Insurance Company, which carries an AM Best rating of A.

Where to Buy

State Farm Headquarters

Image Source: www.wglt.org


In business since 1922, State Farm is one of the first names people think of for insurance, and they offer coverage for home, auto, life, and assets. Their classic car program is a side business that works on agreed-value contracts and is available in all fifty states. Unlike their standard insurance policies, this program is handled in person through a local State Farm agent and can cover liability, medical payments, comprehensive, collision, loss of income, and personal injury/death payouts.

State Farm classic car insurance is geared towards those who don't drive their cars much – individual limits are negotiated, but the policy is for very limited use. They cover spare parts up to $500, offer emergency assistance for an additional fee, and provide consistent customer service. Negatives include model-year and value restrictions and lower liability limits than some specialty companies.

A.M. Best Financial Strength Rating

State Farm has an A.M. Best Financial Strength Rating of A++.

Where to Buy

American Collector Insurance

Image Source: brettinsurance.com/


American Collectors Insurance is one of the smaller companies on this list, specializing in antique and collectible cars not designed for regular driving. This means there are mileage limitations with every policy, so it's not the right fit for those who love to show their cars off on the road. In business for over forty years, they offer deep discounts for multiple vehicles, a 2% inflation guard per quarter, and automatic thirty-day coverage if you buy a second collectible car.

Where they stand out from the pack, though, is with their TLC add-on plan – considered to be the best roadside assistance plan in the insurance market. For less than $35 per year, you get assistance for towing, lockouts, and roadside repairs. The company also offers coverage for travel expenses and legal defense costs, and offers rebates for installing safety equipment. The company gets good marks for customer service, but drawbacks include model-year and value restrictions, and the lack of company information on the Better Business Bureau website.

A.M. Best Financial Strength Rating

American Collectors Insurance has an A- financial strength rating from A.M. Best

Where to Buy

J.C. Taylor Insurance


J.C. Taylor is one of the oldest companies offering an exclusive focus on antique and collectible car insurance, giving them a high trust rating among customers. They offer specialty coverage for exotic cars, hot rods, and cars that have had custom modifications. This makes them a high-ranking choice for those who like to drive their cars – while their policies have a 2,500-mile rate for underwriting purposes, they don't have an official mileage limit on their policies and offer some of the most competitive premiums in the field.

J.C. Taylor has one of the smallest client bases of any company on the list and maintains a low-tech presence, with their minimalist website lacking any information about their benefits or policies. You can set up a policy over the phone or through the mail. They have a Better Business Bureau rating of A+, but the $250 deductible on physical damage coverage is high and they require cars to be kept in a locked garage.

A.M. Best Financial Strength Rating

J.C. Taylor Insurance has an A+ rating from A.M. Best

Where to Buy

Heacock Classic Car Collector Insurance

Image Source: heacockclassic.com


Heacock Classic Car Collector Insurance is owned by the Heacock Insurance Group, a full-service insurer with almost a hundred years of service. Based in Florida but servicing all fifty states, it has ties to the Sportscar Vintage Racing Association and offers discounts for members. The company gets high marks through its attentive customer service, fulfilling policies through the phone and issuing temporary insurance cards to clients until the policy is processed.

While Heacock's premiums are middle of the road, it gets high marks for having some of the lowest deductibles in the market – with some clients getting a deductible of zero. Their insurance policies are geared towards cars not used in everyday driving, so expect mileage limitations on each policy around 5,000 miles a year. Negatives include the low-tech website and issues with negotiating insurance renewals every year.

A.M. Best Financial Strength Rating

Heacock Classic Car Collector Insurance is backed by American Modern Insurance Group, which carries an A+ rating from A.M. Best

Where to Buy

The Verdict

The nine best classic car insurance companies on this list all deliver quality service, with some geared towards regular drivers who want added protection for valuable cars and some specializing in antique cars meant for garages rather than the road. We found one consistency across these nine companies – excellent customer service, as classic car clients have high-level policies that the companies want to keep with them. All nine companies specialized in agreed-value policies, where every policy is different based on an assessment of the collection by the agency.

Where they differed was in the additional features offered to clients, such as roadside assistance, coverage of repair and renovation costs, and mileage limits. That means that your best choice will depend on the size of your collection and how you intend to use it. If you're a collector who has a large number of antique cars, American National Insurance offers the deepest discounts in the field.

However, if you like to drive your cars and want comprehensive coverage for accidents and repairs, a company like J.C. Taylor Insurance offers highly customizable policies and personal attention thanks to a smaller customer base. However, there's one company that offers the best of both worlds, with comprehensive coverage, low premiums, and excellent customer service. We give Hagerty Classic Car Insurance our nod as the best classic car insurance on the market today.


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