Classic Car Insurance in Arkansas

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In Arkansas, cars are considered collectibles if their original manufacturing date is a minimum of 45 years old. Classic car insurance in Arkansas must include liability insurance and property damage liability insurance.
Insuring your classic or antique car isn’t like insuring your day-to-day commuter vehicle. You probably don’t drive your classic car very often, replacement parts can be difficult to find and expensive to buy, and it’s probably worth more than your primary car—so you need specialty car insurance coverage.
To help you best protect your classic car, the insurance comparison shopping and broker app Jerry will break down everything you need to know about classic car insurance in Arkansas.

What is classic car insurance?

Classic car insurance is intended specifically for classic or antique vehicles. While classic car insurance has many of the same coverage options as a standard car insurance policy, it also comes with extra limitations, such as maintenance requirements and mileage limits.

What is a classic or antique car?

Typically, a classic car is a vehicle that is between 10 to 24 years old and has historic interest, such as a sports car, limited-edition vehicle, or hot rod.
Usually, an antique car is 25 years or older and has a historic interest. As far as insurers are concerned, a classic car that is more than 25 years old is considered an antique.
Despite these general rules, keep in mind that in Arkansas, you can only obtain classic car insurance if the vehicle in question is at minimum 45 years old.

What makes classic car insurance different?

A major difference in classic car insurance is the value of the car. Every classic car is special, so there is no set "book value" for specific models and makes. However, classic car insurance is usually cheaper.
You’ll have to work towards an agreement with your insurance provider about your classic car’s value, or an agreed-upon value. This will be added to your policy and your car will be covered up to the value that you negotiated, without depreciation.
There are a few other key aspects of classic car insurance that make it distinct from the insurance you buy for your regular, everyday vehicle:
  • Price: Classic car coverage is less expensive than a regular car insurance policy.
  • Limited use: Most classic cars have a mileage cap and can only be used sparingly, such as when driving to exhibitions and shows, heading to club activities, participating in parades, pleasure driving, and other activities.
  • Storage: Classic cars must be stored in a secure facility, such as a locked garage.
  • Condition: The car must be restored, maintained, and preserved in its original condition (or be undergoing restoration).

Arkansas classic car insurance

To qualify for classic car insurance in Arkansas, your car must meet the following criteria:
  • Be at least 45 model years old from the original model date of manufacturing
  • You must be at least 25 years of age to register a classic car in Arkansas
  • You must prove that you have a second, registered vehicle that is used as your primary vehicle
In Arkansas, the minimum coverage stipulated for a classic car is as follows:
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What impacts the cost of classic car insurance in Arkansas?

Classic car insurance is normally less expensive than a regular car insurance plan. The price will vary, though, depending on the type of coverage you require for your classic car.
Here are the main factors that may have an impact on your classic car insurance rate:
  • Model year
  • Stated or guaranteed value—more expensive are pricier to insure
  • Mileage—your premium will be higher the more you drive the car
  • Customization—roadside assistance, spare parts coverage, and flatbed towing will raise your premium
  • Your driving record—many companies only offer classic car insurance to drivers with clean driving records

The benefits of classic car insurance

Regular car insurance isn’t sufficient to safeguard a classic or antique car against damage or loss. If the value of your car exceeds its original selling price, it may be certified as a collectible and you may require specialized classic car insurance.
Here are some of the main benefits to buying classic car insurance:
  • Lower rates than regular vehicle insurance (often anywhere from 40% to 70% less)
  • Higher coverage limits (often up to $500,000)
  • Flexible deductibles and annual mileage caps
  • Guaranteed or agreed value coverage
  • Lots of optional add-ons, including spare parts & memorabilia coverage, and flatbed truck towing
  • Discounts for adding more security features, such as GPS tracking, alarms, and VIN etching
  • Claims handling from fellow car enthusiasts
  • Potential discounts on collector car club memberships

Do I need classic car insurance?

If you own any of the following vehicles, you should consider buying classic car insurance:
  • Antique & classic cars
  • Classic trucks and utility vehicles
  • Modified vehicles
  • Modern collector vehicles
  • Vintage boats
  • Vintage motorcycles and scooters
  • Collector trailers
  • Motorsports vehicles
  • Retired commercial vehicles
  • Antique tractors
  • Classic military vehicles
  • Vehicles under construction

Coverage options for classic car insurance

Your classic car insurance package will depend on the type of car you have and what you’ll 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 theft.
CollisionCovers damages resulting from a collision with another vehicle or fixed object.
Uninsured/underinsured motoristCovers damages if you’re involved in an accident with a driver who doesn’t have auto insurance, or doesn’t have enough insurance to cover your damages.
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 loss due to depreciation.
Flexible mileageTiered mileage plans give you the flexibility to customize your policy based on how much you drive your classic car.
Roadside assistanceCoverage for tire changes, towing, battery jumpstarts, and other services 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 affordable car insurance for your classic car

If you’re looking for classic car insurance in Arkansas at a great rate, use the insurance broker and comparison shopping app Jerry. It’s the simplest, most effective way to find a policy that is tailored for you.
Jerry provides you with up to 50 quotes of the best classic car insurance policies across providers. Jerry then handles all the phone calls, paperwork, and renewals for your top pick so that you don’t have to bother with that tedious work!
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