What Are the Best Collector Car Insurance Companies?

Last Updated on November 24, 2023

Collector cars have different insurance needs than ordinary vehicles.

Maybe you only drive your collector car during the summer. Maybe you hardly drive it at all – but still want it protected in storage or during a restoration.

Some companies understand how to value collector cars, charging fair prices for good coverage. Other companies avoid insuring classic cars entirely.

Keep reading to discover the seven best collector car insurance companies available today.

Key Takeaways:

  1. American Collectors Insurance, Grundy, and Hagerty stand out as three of the best collector car insurance companies in the US.
  2. Collector cars have unique insurance needs, such as coverage during storage or restoration, and it’s essential to find a company that understands these specific requirements.
  3. Some collector car insurance companies offer unique perks such as inflation guard protection, OEM parts coverage, and restoration coverage to account for the added value of collector cars.

American Collectors Insurance

A subsidiary of USAA, American Collectors Insurance offers a variety of plans for collector cars and their owners.

You can choose from multiple coverage options for all types of situations. American Collectors Insurance offers a plan that protects your car when stored, trailered, and displayed, for example – even if you don’t intend to drive it.

Alternatively, you can purchase unlimited mileage plans or plans ranging from 1,000 to 7,500 miles for your collector vehicle.

Plus, American Collectors Insurance is available in all 50 states and Washington, DC. Drivers can also add roadside assistance, trip interruption coverage, car show reimbursement coverage, inflation guard protection, and other unique perks.

Another perk of American Collectors Insurance is the ability to compare rates online. Enter details of your vehicle online to see exactly how much classic car insurance could cost. And, if you’re already a USAA member, you could save 5% to 10% on your American Collectors Insurance policy.

Overall, American Collectors Insurance is one of the top-rated collector car insurance companies available today, and the company covers thousands of classic cars across the country.

American Collectors Insurance Contact Info

Phone: (800) 360-2277
Website: https://americancollectors.com/


Grundy is popular with collector car owners who expect their vehicles to rise in value.

Overall, Grundy offers similar collector car coverage to other companies on this list, charging competitive rates for all types of collector cars and classic vehicles.

However, Grundy offers a unique perk called the Motor Vehicle Program, which adds a cushion to the insured value of your vehicle. If your vehicle rises in value, then Grundy covers up to 150% of the insured value of your vehicle to reflect this added value. With other collector car insurance companies, you would receive significantly less than the actual value of your vehicle in a total loss insurance claim.

Other perks of Grundy include spare parts coverage up to $500, trip interruption coverage up to $600, and towing and labor coverage up to $250.

Grundy also has a lengthier track record than most other collector car insurance companies listed here. Founded in 1947 in Horsham, Pennsylvania, Grundy has 75+ years of experience insuring classic cars in all 50 states.

Grundy Contact Info

Phone: (800) 338-4005
Website: https://www.grundy.com/about-grundy/contact-us/

Hagerty Insurance

A subsidiary of Progressive, Hagerty Insurance is one of the best-known names in the collector car insurance space.

Hagerty partners with standard insurance companies across the United States to offer effective coverage and good claims satisfaction.

Hagerty is popular with classic car owners for its ability to account for your vehicle’s added value during a restoration. If you’re restoring your vehicle and adding to its value, then Hagerty will automatically raise the value of your vehicle 10% a quarter up to a maximum increase of $25,000 per year. With other insurers, you could lose the value of your restoration if your vehicle is damaged or destroyed during the restoration process.

Available in all 50 states and Washington, DC, Hagerty is popular with Allstate, Nationwide, and Progressive users, as the company has partnerships with all three companies. Hagerty also offers evacuation expenses (i.e. disaster relocation coverage) for $1,500 per event, up to a maximum limit of $10,000.

Hagerty’s plans do not have a fixed mileage limit. However, the company provides plans based on the assumption that you’re driving 3,500 to 7,500 miles per year. If you drive beyond this limit, then you may want to choose another collector car insurance company.

One of the few downsides of Hagerty is its limited spare parts coverage. Hagerty covers up to $750 in spare parts. In comparison, most competitors listed here offer $2,000 in coverage.

Hagerty Insurance Contact Info

Phone: (800) 922-4050
Website: https://www.hagerty.com/

American Modern Insurance

GEICO’s classic car insurance division is called American Modern Insurance. The company offers unlimited mileage plans, low mileage plans, inflation guard protection, and other perks.

American Modern Insurance also lets you use your classic car as a daily driver. You can add optional coverage if you commute to work in your classic car, for example – something not all insurance companies offer.

Another perk of American Modern is the ability to buy coverage for a car that is currently being restored. You can avoid losses or damages to a vehicle you’re restoring. Plus, American Modern insurance offers disaster relocation costs, bundling discounts for GEICO policyholders, and other perks.

One of the downsides of American Modern Insurance is that the company has a higher-than-average number of complaints compared to other companies of its size. Like its parent company GEICO, American Modern Insurance may have issues with delayed claims and unsatisfactory settlements. Nevertheless, both GEICO and American Modern Insurance are two of the largest insurance companies in the country for ordinary cars and classic cars.

American Modern Insurance Contact Info

Phone: (800) 543-2644
Website: https://amig.com/company/contact-us/


Chubb offers premium insurance products for drivers with unique needs. The company has no mileage limits when using the vehicle for hobby purposes, making it a good option for those who driver their collector car more often than average.

Another perk of Chubb is the ability to add OEM parts coverage. Instead of repairing your vehicle with aftermarket parts, Chubb will cover the cost of repairing your vehicle with original equipment manufacturer (OEM) parts. Or, if OEM parts aren’t available, Chubb will cover the cost of fabricating parts. It’s a major advantage for drivers who want to repair their collector car to pre-loss condition after an accident.

Chubb also offers unique perks like no deductible for total loss settlements, up to $500 for disaster relocation expenses (if you need to move your vehicle because of a severe event), and the ability to choose your own repair shop (even if it needs repairs out of state or overseas).

Chubb Insurance Contact Info

Phone: (800) 682-4822
Website: https://www.chubb.com/us-en/contact.html

Heacock Classic Insurance

Heacock Classic offers collector car insurance with up to 6,000 miles per year of coverage. You also get up to $2,000 in spare parts coverage included with your plan.

If you want strong spare parts coverage and customizable coverage options, then Heacock Classic could be the right choice. The company is particularly popular with drivers who are restoring classic cars or collector cars – or with anyone who needs insurance for a race car.

Some of the unique perks of Heacock Classic include coverage for storage, transit, and paddock. You can also get restoration coverage (regardless of whether you’re restoring a vehicle yourself or working with someone else).

If you drive more than 6,000 miles per year, then Heacock isn’t the right choice for your collector car insurance, as 6,000 miles is the upper limit of their highest plan. However, Heacock has strong ratings from collector car owners for many other reasons.

Heacock Classic Contact Info

Phone: (800) 678-5173
Website: https://www.heacockclassic.com/


Safeco is a subsidiary of Liberty Mutual and offers collector car insurance across the United States.

If you use your collector car as a daily commuter vehicle, then Safeco could be your best option. Safeco offers two types of plans, including a regular use plan (to drive up to 10,000 miles per year) or a limited use plan (to drive up to 5,000 miles per year).

With regular use, you can drive your car up to 27 miles per day, on average, with no other restrictions.

Safeco has restrictions we don’t always see with other companies. The company exclusively insures vehicles that are more than 10 years old, limited production modern classic cars less than 10 years old, or antique cars more than 25 years old. If you have a race car, unrestored vehicle, or kit car, then you cannot insure that vehicle with Safeco.

Overall, however, Safeco has strong reviews and a lower-than-average number of complaints compared to other major collector car insurance companies, making them one of the top options overall.

Safeco Contact Info

Phone: (800) 332-3226
Website: https://www.safeco.com/customer-resources/customer-support

How to Compare Collector Car Insurance Companies

All collector car insurance companies claim to protect your vehicle. Some live up to that claim, while others do not.

Some of the best ways to compare collector car insurance companies include:

  • Check discounts, as some companies offer discounts if you already work with their parent company, drive a low number of miles, or are affiliated with certain groups (like a car club).
  • Look for a flexible deductible if you want lower premiums. Adjusting your deductible can significantly reduce your premiums, and some collector car companies offer very high deductible plans for this reason. You might pay a large deductible (say, $10,000) for a claim, but you’ll pay a very small amount for your premiums each month.
  • Choose companies with inflation guard protection. Without inflation guard, your collector car insurance may not be covering the actual value of your vehicle. Inflation guard increases your insurance coverage by 4% to 6% of the vehicle’s value each year with no extra cost, giving you extra protection against inflation.
  • Check spare parts coverage limits. The collector car insurance companies above offer spare parts coverage ranging from $500 to $2,000. This coverage compensates you if parts are damaged or stolen from your vehicle. It’s particularly important for rare collector cars with unique, hard-to-find parts.
  • Check mileage limits. Many collector car companies offer unlimited mileage, which is ideal if you use your collector car as a daily commuter. Others offer steep discounts if you only drive your car 1,000 to 5,000 miles per year.
  • Look for towing, labor, and roadside assistance coverage. If your collector car breaks down, you could have a costly towing bill. Consider a collector car insurance company with towing and labor coverage or roadside assistance.

By analyzing these factors, you can choose the best collector car insurance company for your unique needs.

Final Word

There are dozens of large collector car insurance companies in the United States – from small, regional insurers to large, nationwide providers.

Check collector car insurance rates online today to ensure you’re getting the best collector car insurance coverage for your unique needs.

James Shaffer
James Shaffer James Shaffer is a writer for InsurancePanda.com and a well-seasoned auto insurance industry veteran. He has a deep knowledge of insurance rules and regulations and is passionate about helping drivers save money on auto insurance. He is responsible for researching and writing about anything auto insurance-related. He holds a bachelor's degree from Bentley University and his work has been quoted by NBC News, CNN, and The Washington Post.
Back to Top