Is Collector Car Insurance Right for Your Vehicle?

For the luckiest automotive enthusiasts, their love for their favorite driving machine ultimately leads to the ownership of one prized piece of motoring history—whether it’s a classic Ford Mustang, a Chevrolet Bel Air, or a restored Chevy C10.

This opportunity to possess a desirable vehicle can be a joyous journey where images of summer weekend drives, car meets, and classic car gatherings come to life. However, owners should also be aware of the possibility of a nightmarish scenario where an event prevents the enjoyment of a vehicle, whether through theft or an accident. While insurance, in general, is recognized as a proactive measure against sudden incidents, caretakers of a collector or classic car may find specialized insurance as the best protection.

What Vehicles Qualify for Collector Car Insurance?

A variety of criteria can be applied to determine a vehicle’s eligibility through collector car insurance.

Generally, an automobile 25 years or older is judged to be a classic car, but this metric differs based on the provider, with a distinction for antique cars made for older automobiles.

Beyond age, collector car insurance can apply to rare or limited-edition models, such as a Ford GT, Chevrolet Camaro Z28, or a Shelby Cobra. Vehicles produced by defunct automotive brands like Pontiac or Mercury may qualify earlier for collector car insurance.

Finally, this type of insurance is ideal for customized or modified vehicles. Whether someone owns a 1930s Ford street rod, a restomod 1970s Chevrolet C10, or a pro-touring 1969 Mustang Fastback, collector car insurance policies offer the coverage these unique builds deserve.

The Benefits of Collector Car Insurance

Collector car insurance presents a number of unique features beyond what is found with standard auto insurance policies, offering a tailored level of protection for prized classic vehicles.

One of the most impactful differences in choosing collector car insurance comes in the event of a payout. Where standard auto insurance sees a vehicle as a depreciable asset, collector car insurance offers an agreed-upon or guaranteed value. In the case of a total loss, many policies allow the owner to retain the salvaged property for possible restoration.

Other benefits include flexibility in repair options. Unlike standard insurance, which may force you to use pre-approved repair shops, collector car insurance often allows owners to pick their own mechanic, restoration shop, or even perform the work themselves.

Even if a classic Ford F-100, Chevrolet Impala, or a first-gen Bronco is undergoing restoration, collector car insurance provides coverage for both the vehicle and spare parts against loss or theft. This is especially valuable for builds involving rare NOS (New Old Stock) parts or custom interior components like vintage-style bucket seats, retro dashboard gauges, or rare trim pieces.

Additionally, this specialized insurance also benefits owners of modified vehicles. If your Chevy Chevelle, Ford Fairlane, or C2 Corvette features upgraded leather interiors, custom wheels, or a high-performance suspension setup, collector car insurance can ensure those details are protected.

Collector car insurance can be surprisingly affordable, but there are a few factors insurance companies use to keep rates low.

Possible Drawbacks of Collector Car Insurance

Despite its advantages, collector car insurance comes with a few restrictions.

One of the biggest limitations is how often a covered vehicle can be driven. Many policies restrict use to car shows, club events, and occasional weekend drives, with an annual mileage cap of around 5,000 miles (or 8,000 kilometers).

Some insurers also require an official vehicle appraisal to establish a guaranteed value, which can add extra costs upfront. Additionally, while collector car insurance covers accidents, theft, and vandalism, it doesn’t protect against mishaps during restoration, such as a botched paint job or mechanical failure.

Protecting Your Classic Ford or Chevy with the Right Insurance

If you own a 1965 Mustang Fastback, a Tri-Five Chevy, or a 1970s Ford Bronco, collector car insurance is worth considering. It provides coverage that standard policies don’t offer, ensuring that your investment is protected in case of unexpected events.

And if you’re in the middle of a Chevy C10 restoration, building a custom Ford F-250, or refreshing the interior of your classic Camaro, check out Collectors Auto Supply for a wide range of parts and accessories to complete your build with confidence.