How to insure a classic car as a daily driver

Using your classic car as a daily driver means exposing it to greater road risks, which can lead to potential damage and increased maintenance needs. While classic cars are typically driven less frequently, you are free to use yours as you wish. However, it’s important to ensure you have proper insurance coverage to protect yourself against financial losses in case of damage. So, in this comprehensive guide, we’ll explore how you can insure a classic car as a daily driver, hence, guiding you on how to choose the best insurance premium for your vehicle.

What is considered a classic car?

A classic car is typically an older vehicle, usually 15 to 20 years old or more, often manufactured in the early 1990s. While the definition and criteria for a classic car can vary by state and individual opinions, these vehicles are generally recognized as older models. Some examples include:

1969 Chevrolet Camaro
1963 Mercedes Benz 300SL
Ford Model T
Ferrari 250 GTO
Aston Martin DB5
Jaguar E-Type
British Motor Corporation Mini 1959

What insurance do I need for my classic car as a daily driver?

Since you can use your classic car for various purposes such as work, leisure, or travel, it’s crucial to insure it against different road risks as a daily driver. For a classic car that you use daily, you should opt in for standard auto insurance rather than a classic car insurance policy. Classic car insurance is generally designed for vehicles that are not used frequently and comes with restrictions that may not suit a daily driver.

How to insure a classic car as a daily driver.

To find the best insurance coverage for your classic car, keeping in mind that you are a daily driver, compare different policies, rates, and quotes, and consult with various agents to select the most suitable option. Coverage options can vary, and many providers may only offer classic car insurance policies rather than coverage for daily drivers. Ensure that any policy you consider includes coverage for:

Collision: Covers repair costs if your classic car is damaged in a crash.
Liability: Provides protection for third parties in the event of bodily injuries or property damage.
Comprehensive Coverage: Protects against damage to your classic car from incidents such as fires, theft, or vandalism.
Medical Payments: Covers medical expenses for you or your passengers resulting from a collision.

Which company offers the best classic car insurance in the USA?

Below are some of the top classic car insurance companies in the USA that will insure and cover unexpected events you may encounter as a daily driver. These companies provide excellent policy coverage for your classic car, including details on coverage costs and benefits.

1. American collectors insurance

First on our list is American Collectors insurance, renowned for their classic car insurance policies. They provide coverage tailored to your specific needs and your vehicle’s requirements. Their offerings include agreed value coverage, which covers the full value of your car in case of a total loss from a collision, and flexible towing and transportation coverage. Additionally, they offer discounts that can help reduce your payment costs.

2. Grundy Insurance

Grundy provides complete collision and comprehensive coverage for classic cars, partnering with companies such as AIG, Travelers, and Chubb Insurance. They offer full agreed value coverage with no deductibles in most states. Their liability coverage can provide up to $1 million for third-party bodily injuries or property damage. What stands out about Grundy Insurance is their extensive range of coverages, including trip interruption coverage up to $600.

3. American modern insurance

American Modern Insurance provides excellent coverage for classic, collector, or vintage cars. They offer a variety of insurance options, including agreed value total loss settlement and spare parts coverage up to $2,000. Deductible options range from $0 to $10,000, depending on your coverage limits.

4. Hagerty Insurance

Hagerty Insurance offers standard coverage for classic vehicles along with optional add-ons such as spare parts coverage up to $750, trip interruption, and roadside assistance. To reduce your coverage costs, you can join the Hagerty Drivers Club® and benefit from various perks, including auto discounts. Additionally, their classic car insurance policies are supported by major insurance companies like Progressive and Nationwide.

5. Heacock

Heacock Classic provides insurance for classic, antique, and exotic cars. Their policies include agreed value coverage, standard features such as roadside assistance and restoration support, and spare parts coverage up to $2,000. This insurance is available in 48 states across the USA, excluding Alaska and Hawaii.

Editor’s Remarks

When searching for classic car insurance providers, be sure to do thorough research and compare quotes from various policies. Alternatively, you can consult an insurance agent who can assist you in selecting a policy tailored to your specific needs. Insuring your classic car will not only safeguard your vehicle but also give you peace of mind while driving. We hope this guide has helped you on how to insure your classic car as a daily driver who may encounter different risks day in day out of your work schedule.

Frequently Asked Questions

What is the most important insurance a driver can have?

The most commonly required insurance is liability coverage, which protects third parties involved in an accident or collision. This type of insurance primarily covers bodily injuries and property damage and is mandatory for all drivers in some states.

What is a daily driver car?

A daily driver car is a vehicle you use regularly for either leisure or business purposes, and it can be of any make or model.

Which type of insurance is best for a car?

Comprehensive car insurance is strongly recommended because it provides complete protection for your vehicle. This coverage includes liability for third parties, collision damages, and any other damage your car may incur due to circumstances beyond your control.

What does a driver do on a daily basis?

A driver operates vehicles to transport goods or passengers to various locations. For example, Uber drivers transport their clients to their destinations.