Classic Car Insurance in Indiana

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Classic car owners in Indiana must meet the state’s basic insurance requirements for bodily injury liability and property damage liability. Although it’s not mandated by law, uninsured/underinsured motorist coverage is also a good idea.
A classic car’s a different beast from your daily drive, so it stands to reason it needs specialty car insurance. You don’t drive it as often, maintenance costs can be higher, and the vehicle itself is probably worth a lot more than your average car. 
Classic car insurance can meet your vehicle’s unique needs and offer you a host of added benefits, like flexible deductible options and coverage for spare parts and memorabilia! 
To find the cheapest coverage for your classic car, download the car insurance broker app, Jerry. You’ll get competitive quotes from leading providers and expert support from start to finish! 
Ready to find out what insurance you need on your classic car in Indiana? Let’s get started. 

What is classic car insurance?

In general, classic car insurance covers the same things that a regular auto insurance policy does, but it’s tailored to the needs of a classic or antique car. Classic car insurance also tends to come with special limitations, like mileage caps. 

What is a classic or antique car?

A classic car is any vehicle 10 to 24 years old that has historic interest.
For insurance purposes, a “classic car” that’s 25 or more years old is considered an antique car

What makes classic car insurance different?

One major difference between classic car insurance and regular auto insurance is the price—classic car insurance is generally less expensive than the kind of policy you’d want on your daily drive. 
Your rate depends on the value of your car, and since each classic car is unique, prices can vary depending on the specific vehicle. 
Because there’s no set value for classic cars, your first step will be to reach an agreement with your insurer about your vehicle’s value.
There are a few other factors that separate classic car insurance from regular auto insurance: 
  • Limited use: Classic car insurance is designed for cars that are used for infrequent pleasure driving, parades, exhibitions, etc. Your insurer will set an annual mileage cap on your policy. 
  • Condition: Your classic car must be restored, maintained, and preserved in its original condition (unless it’s undergoing active restoration). 
  • Storage: You’ll be required to have secure storage for your classic car, such as a locked garage. 

Indiana classic car insurance 

In Indiana, any vehicle that’s at least 25 years old and owned as a collector’s item, leisure pursuit, or investment can be registered as a collector vehicle. Collector cars may be registered in Indiana with a historic license plate. 
When you first register your collector vehicle you must complete a Collector Vehicle Affidavit—State Form 56166.
Although Indiana does not have specific minimum requirements for classic car coverage, state law requires all drivers to purchase minimum liability coverage as follows: 
Recommended, but not legally required coverage for a classic car in Indiana includes: 
  • Uninsured motorist bodily injury coverage: $25,000 per person / $50,000 per accident
  •  Uninsured motorist property damage coverage: $25,000

What impacts the cost of classic car insurance in Indiana?

Two of the biggest factors in determining the cost of classic car insurance are the agreed value of your car and your driving record.
Other factors that can play a significant role in the cost of your policy include: 
  • Model year
  • Mileage—the more you drive, the higher your premium will be 
  • Customization—flatbed towing, roadside assistance, and spare parts coverage will increase your premium

Benefits of classic car insurance

Because of the unique value and use of a classic car, regular insurance won’t protect it against damage or loss. Any car whose value exceeds its original sale price might be eligible for specialized classic car insurance. 
Here are some of the benefits of getting classic car insurance:
  • Higher coverage limits (often up to $500,000)
  • Claims handling from fellow car enthusiasts
  • Roadside assistance using only flatbed tow trucks
  • Discounts for additional security features (like alarms, VIN etching, and GPS tracking)
  • Potential discounts on approved collector car club memberships

Do I need classic car insurance?

If you have any of the following types of vehicles, you likely need specialty coverage:
  • Antique & classic cars
  • Vintage boats
  • Modern collector vehicles
  • Modified vehicles
  • Classic trucks and utility vehicles
  • Motorsports vehicles
  • Vintage motorcycles and scooters
  • Retired commercial vehicles
  • Collector trailers
  • Vehicles under construction
  • Classic military vehicles
  • Antique tractors

Coverage options for classic car insurance

The exact coverage you need for your classic car will depend on the type of car you own and what you need to protect it
Here are some common coverages for classic cars:
ComprehensiveCovers damage that isn’t the result of a collision, such as from severe weather or vandalism.
CollisionCovers damages resulting from a collision with another vehicle or stationary object.
Uninsured/underinsured motoristCovers damages if you’re involved in an accident with a driver who doesn’t have auto insurance.
Agreed value coverageIf you’re in a covered accident and your classic car is a total loss, you’ll receive the full agreed-upon value (minus your deductible) without any deduction for depreciation.
Flexible mileageTired mileage plans give you the flexibility to customize your policy based on how much you actually drive your classic car.
Roadside assistanceCoverage for tire changes, towing, and other incidental expenses that aren’t part of a typical auto insurance policy.
Spare partsAdd coverage for loss or damages to classic spare parts—even ones that are expensive or hard to find.

Finding cheap car insurance for your classic car

If you’re looking for affordable classic car insurance for your collector’s vehicle in Indiana, download the Jerry app. As a licensed insurance broker, Jerry will compare rates from 50+ leading insurance providers and find the coverage that fits your car’s unique needs at a price that works for your budget. 
You’re an expert on your classic car, and Jerry is the expert on car insurance! With the app, you’ll get end-to-end support throughout the comparison shopping process. Jerry will fill out your paperwork, cancel your old policy, and do all the legwork to get your classic car covered in style! 
Jerry had a super simple app that was easy to navigate. And their terrific customer service made everything even easier. Plus I saved $700 in a single year.” —Lucia M.

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