Classic Car Insurance in Iowa

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In Iowa, classic cars have a minimum required bodily injury liability coverage of $20,000 per person and $40,000 per accident. You’ll also need property damage liability in the amount of $15,000 per accident.
Buying insurance for your classic car won’t look quite like insuring the everyday vehicle you use to commute to work. For one thing, replacement parts can be harder to find, raising the cost of ownership. Most importantly, your classic car is probably worth more than your average vehicle—so specialty coverage is a must. 
If finding the right car insurance sounds confusing—or if you just want to get the lowest rate possible—download car insurance comparison and broker app Jerry. Jerry helps drivers maximize their car insurance savings without compromising on coverage. 
To help you find the right coverage for your classic car, Jerry has compiled a guide of everything you need to know about classic car insurance in Iowa. 

What is classic car insurance?

Classic car insurance is similar to regular auto insurance, but it’s tailored to the unique needs of classic or antique vehicles. You’ll also see added limitations on your classic car’s policy, such as mileage caps. 

What is a classic or antique car?

A classic car is a vehicle 10 to 24 years old that’s judged to have historic interest. Vehicles with historic interest that are older than 25 years old are considered antique cars for insurance purposes. 

What makes classic car insurance different?

A key difference is the value of the car. Unlike newer vehicles, classic cars don’t have a set “book value” for specific makes and models, so rates will vary depending on the individual vehicle. 
You’ll have to reach an agreement with your insurer about how much your classic car is worth—the “agreed value” of your car. This will be specified on your policy, and your car will be covered up to that value without depreciation.  
Other things that make classic car insurance different from regular insurance include: 
  • Price. In general, classic car insurance is less expensive than regular auto insurance. 
  • Mileage caps. Because classic cars are only used for pleasure driving, club activities, exhibitions, etc., your policy will specify a cap for the mileage you can put on your car each year. 
  • Condition. Unless it’s undergoing restoration, the car must be restored, maintained, and preserved in its original condition. 
  • Storage. Any classic car must be stored properly—in a locked garage, for instance.  

Iowa classic car insurance 

In Iowa, the minimum coverage required for a classic car is as follows: 
Any Iowa driver may register a motor truck, truck tractor, road tractor, or motor home that is 25 years or older as a limited use vehicle if they plan to use it exclusively for exhibition or educational purposes. 

What impacts the cost of classic car insurance in Iowa?

In general, classic car insurance is less expensive than the regular policy you might have on your daily drive. The biggest factors that influence the cost of your classic car policy are stated or guaranteed value, customization, and your driving record.
The greater the value of your car, the more expensive it will be to insure. If you add lots of additional coverage—such as flatbed towing, spare parts coverage, etc.—you’ll pay a higher rate than if you stuck to the liability minimum. 

Benefits of classic car insurance

Regular car insurance just can’t give a classic or antique vehicle sufficient protection against damages or loss. Once a car’s value exceeds its original purchase price, it might be a candidate for specialized car insurance. 
Some of the benefits of getting classic car insurance include:
  • Rates 40% to 70% lower than standard car insurance
  • Higher coverage limits (often up to $500,000)
  • Claims handling from fellow car enthusiasts
  • Flexible deductible options
  • Optional coverage for spare parts and memorabilia
  • Roadside assistance using only flatbed tow trucks

Do I need classic car insurance?

If you have any of the following, 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 choose for your classic car will depend on what type of car you have, how you expect to use it, and what you need to protect it.
Here are some common coverages for classic cars:
CoverageDescription
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

To make sure you’re getting the lowest possible premium when you buy classic car insurance in Iowa, download the Jerry app. As a licensed insurance broker, Jerry will provide expert end-to-end support as you pick out the policy that’s right for you and your classic car! 
Jerry works with 50+ top insurance providers, like Progressive and Travelers, to get you the best coverage for the most affordable price. The best part? The average Jerry driver saves almost $900 on car insurance a year!
“I’ll keep this simple for you. They literally saved me $100 a month. Jerry is an amazing platform.” —Indiana L.

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