Who Has the Best Classic & Collector Car Insurance?

Best overall: American Modern

American Modern offers $2,000 in standard spare parts coverage, which is four times more coverage than the standard $500 offered by most companies. This perk covers you for theft or damage of spare parts. You’ll also get inflation guard, a perk that ensures your coverage amount goes up as your car increases in value.

American Modern offers flexible mileage plans, including an unlimited mileage option, perfect for collectors who drive their classic cars often. American Modern is also one of the few companies that let you insure almost any nontraditional classic vehicle, which includes anything from an antique roadster to a fire truck or even a retired military Jeep.

Because American Modern also underwrites policies for Geico, you might get bundling discounts if you have another insurance policy with Geico.

Best for daily drivers: Safeco

Safeco has two mileage options: regular use, which lets you drive up to 10,000 miles a year, or limited use, which lets you drive your classic car up to 5,000 miles a year. Regular use lets you drive your car up to 27 miles a day on average with no other restrictions, so it’s a good option if your 1968 Ford Mustang is your daily driver or you take it on a lot of road trips.

The biggest downside to Safeco is the restrictions. Safeco only covers classic cars that are at least 10 years old, limited production modern classics less than 10 years old and antique cars at least 25 years old. Safeco doesn’t cover kit cars, racing cars or unrestored vehicles.

Best for restorations: Hagerty

Hagerty is one of only three companies we explored that offer coverage for restoration cars at any stage in your project. Hagerty offers higher-than-average spare parts coverage at $750 and no fixed mileage limits. And because Hagerty underwrites Progressive classic car insurance, you could qualify for a bundling discount through Progressive.

Hagerty has a few other benefits for classic car collectors. You can contact Carcierge, Hagerty’s in-house parts specialists, to help you find replacement parts, original or otherwise. You can also join the Hagerty Drivers Club, which gives you access to 24/7 roadside assistance and discounts on car accessories, car rentals and transportation services.