Which companies offer classic car insurance?

Many auto insurance providers will cover your classic vehicle, but they’ll generally cover it as though it were a regular-use car, expecting a lot of mileage, only covering it in regular-use situations, and valuing it the same way they value any other vehicle: the older it is, the less it’s worth.

However, there are plenty of companies that provide insurance policies tailored to classic vehicles, with much lower premiums, agreed value coverage, and coverage in the variety of situations that apply to classic, vintage, and antique automobiles. This is an introduction to a few of them.

American Collectors Insurance has over 30 years of experience covering collector vehicles. They offer flexible usage plans, aiming to give you the best possible value for your car at the mileage level at which you prefer to use it. Additionally, American Collectors will cover spare parts for your classic vehicle at up to $500 a year. They also offer an inflation guard which increases the value of your vehicle by up to 8% in a year, 30-day new purchase coverage at up to $25,000, and an optional TLC (Towing and Labor for Collectors) package which offers coverage for a wide variety of situations, including towing and roadside assistance, locksmith fees, and more.

CHROME Specialty Vehicle Insurance is part of ANPAC, one of the largest families of insurance providers in the United States. Their policy features for classic vehicle coverage include their “Multi-CHROME Discount,” a volume discount that increases with each additional car you have covered. This discount can go as high as 85%. They cover vehicles used at up to 10,000 miles per year, and offer $1000 in spare parts coverage, 24/7 claims services, and a “common cause of loss deductible,” which means that you pay only one deductible even if multiple items are damaged in the same incident.

Grundy Worldwide will cover your hobby vehicle without any model, year, or mileage limitations. They offer liability limits of up to $1,000,000; an inflation guard of 4% per year; spare parts coverage of up to $500; “Trip Interruption” coverage, up to $600 for expenses incurred as a result of an accident or breakdown such as lodging; and medical coverage for injuries occurring at auto shows.

Hagerty Insurance has offices in the US, Canada, and the UK. Their service features include: an in-house claims department; new purchase coverage of up to $50,000; a business-use endorsement, allowing you to use your classic vehicle for business purposes without having to worry about whether you’ll be covered in the event of an accident or not; foreign touring coverage; coverage for motorcycle safety equipment; memorabilia coverage; a single liability charge; and various information resources and classic car hobbyist community features.

Leland-West Insurance Brokers are backed by the A+-rated American Modern Insurance Group. They offer new purchase coverage at up to $100,000, as well as $750 in accessory theft coverage, windshield repair or replacement coverage, and multi-vehicle discounts.

Posted: August 5th, 2009 under Classic Car Insurance Companies.