for vintage cars and collector vehicles that maintain or appreciate their value over time. This type of coverage is typically more affordable than standard car insurance by up to 36%.

Say you’ve been scouring the web for a limited edition

Chevrolet Corvette

from 1969—just like the one your dad used to drive. The lucky day comes when you find a seller who’s willing to negotiate for your price range, and you arrange to pick up your new-to-you ‘Vette. You have no intention of driving it regularly, but the sentiment makes it all worth it.

While you’ll definitely want to protect your collectible, regular

car insurance

likely wouldn’t be worth it. That’s where classic car coverage comes in. Keep reading to learn more about Allstate’s classic car insurance, what it covers, and whether or not this coverage option is right for you.

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Allstate car insurance quotes: What you need to know

Does Allstate offer classic car insurance?

Yes—Allstate offers competitive classic car insurance through a partnership with Hagerty.

Before you can purchase a classic car insurance policy through Allstate, you’ll need to make sure that your car qualifies. Technically, Allstate offers what one might call collector car insurance, meaning you can purchase this coverage for a variety of vehicles that maintain or appreciate their value—regardless of the model year.

The following types of vehicles could qualify for Allstate classic car insurance:

Classic and antique cars, trucks, and SUVs

Modern classics from as recent as the 2000s

Muscle cars, sports cars, and race cars

Replicas, custom builds, and vehicles under restoration

Hot rods and modified vehicles

Old military vehicles, antique tractors, and retired fire trucks

Unlike most other car insurance companies, Allstate doesn’t enforce a strict mileage limit for covered classic cars. However, you may be required to store your classic car a certain way per your local Hagerty requirements.

The owner of the classic car is also required to meet the following criteria:

Be at least 25 years of age

Maintain a

clean driving record

Use a different vehicle as your daily driver

Abstain from classic car racing

Additionally, the area where you live could disqualify you from classic car coverage. Talk to an Allstate agent or request a quote through Allstate.com to learn more about your eligibility.

Key Takeaway Allstate partners with Hagerty to offer classic car insurance for classic and collector cars that maintain or appreciate value over and are not used as daily drivers.

What is classic car insurance coverage?

Classic car coverage works differently from a standard auto insurance policy because it covers an agreed value for the car that’s not based on age or mileage-based depreciation.

Most insurance providers assess the

actual cash value

of your daily driver to determine your car’s worth for a standard insurance plan. Because of this, your classic car’s value would be assessed based on standard depreciation rather than its worth in the enthusiast car market. With classic car coverage, on the other hand, the owner and the insurance agent work together to come to an agreed value that is used for the car’s insurance.

This means your collector vehicle will be covered for its actual worth if it needs repairs or is ever deemed a total loss. Classic car insurance includes all the liability insurance you’d need to meet your state’s requirements, but it also typically comes with cheaper premiums. Why? Well, there are a few restrictions you’ll typically need to follow:

The classic car cannot be used as a daily driver. Many insurance providers enforce strict mileage limits (but Allstate does not).

The classic car must be properly stored. At the very least, you’ll likely need to park your classic ride in a private or locked garage, but some companies have stricter requirements.

The car must be in good condition. Some companies require certification that a classic car has been properly restored, and a few even offer certain project endorsements during a restoration.

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How much is an Allstate classic car insurance policy?

Insurance rates for a classic car insurance policy purchased through Allstate’s partnership with Hagerty can be as much as 36% less than the average traditional auto insurance policy.

Hagerty’s classic car insurance is a fantastic option when you’re looking for

cheap car insurance

for an older or restored vehicle. And since you’d be purchasing your Hagerty coverage through Allstate, you may be able to save even more by bundling other insurance products like

homeowners

renters insurance

Keep in mind that where you live can affect the cost of your coverage. For example,

classic car insurance in Texas

will likely be more expensive than classic car insurance in Maine, where traditional car insurance is less than half the cost on average.

No matter where you live, you may be able to save on your Allstate insurance by applying eligible discounts. In addition to multi-policy discounts, Allstate offers

safe driver discounts

and

paid-in-full discounts

that could help you save on the overall cost of your premium.

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Is the Allstate Drivewise App worth it?

Who should get classic car insurance?

Classic car insurance is a good idea for anyone who owns a classic or collector vehicle that they do not use as a daily driver.

While you’ll have to follow certain restrictions to qualify for classic car coverage, such as limited usage or safer storage, most owners are likely already following them. More importantly, you could lose money on a collector car if you’re insuring it with a traditional car insurance policy.

The bottom line: classic car insurance is a cheaper option than traditional insurance, and anyone with a qualifying car and driver profile should consider it.

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FAQs

What other insurance companies offer classic car insurance?

You can get classic car insurance through many other top providers.

Progressive

and

Nationwide

also offer classic coverage through Hagerty. You can also look at options from

Geico

State Farm

, as well as

USAA

if you’re a qualifying military member or dependent.

Is car insurance cheaper for classic cars?

Yes. Classic car insurance is cheaper for classic cars and covers more value than a standard car insurance policy.

When does classic car insurance expire?

A classic car insurance policy typically covers a 12-month period. However, your classic car insurance could be canceled early if you’re found to be using your classic car more often than you’ve agreed to or if you’re not storing or maintaining it properly.

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