What to Know About Classic Car Insurance

Classic cars

Whether it’s an old Packard, a groovy VW bus from the 1960s or a muscle car from your glory days, antique and classic cars are definitely a special breed of vehicles. As such, they often need special classic car insurance.

Insurers offer many kinds of classic car insurance for different kinds of older cars. Erie Insurance offers coverage* for the following kinds of cars:

  • Classic Autos are at least 10 years old and, because of limited production or exceptionally fine workmanship, have achieved rare or historic interest through being restored, maintained or preserved.
  • Antique Autos are 25 years or older that have been kept in good running condition and/or licensed as an antique with the Department of Motor Vehicles.
  • Special Interest Autos do the opposite of most cars: Instead of depreciating in value, they maintain or appreciate in value as they become older.

While insurers often require a separate policy to write classic car insurance, ERIE will usually write your collector car on the same policy as your regular car(s). ERIE also offers discounts to classic or antique cars that are driven at very low-mileage—for instance, 500 miles or less per year.

ERIE can insure your classic car on a Stated Amount basis. This means we pre-determine the value of the vehicle and insure it up to a specific Stated Amount shown on your policy declarations page. Payment could be less for reasons like the vehicle depreciated after its original appraisal, was modified or was damaged.

For vehicles valued at $10,000 and up, our professional material damage appraiser will inspect and value the vehicle. This means you’ll know what we believe the car is worth before a loss takes place. That way, there are no surprises if you suffer a loss since we will pay up to the stated amount shown on the declarations page of your policy.

Even if you never drive your classic car, you’ll still want to protect it from perils like fire, vandalism and theft. That’s why it’s a good idea to talk with an insurance professional like an Erie Insurance Agent if you’re interested in classic car insurance. He or she will be able to advise you about the right coverage at the right price for your classic or antique car.

*May differ by state.

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