Classic Car Insurance in New Jersey
Classic cars in New Jersey are required to carry 25/50/5 in liability coverage, as well as PIP and uninsured motorist coverage.
Written by Kornelia Drianovski
Edited by Sarah Gray
Classic cars
in New Jersey
must be insured under their own policy including liability coverage
, personal injury protection (PIP)
, and uninsured/underinsured motorist
coverage. - New Jersey classic car insurance provides customizable coverage for everything from historic hot rods to modern muscle cars.
- Classic car policies are often cheaper than standard insurance policies, but they also tend to include limitations on usage and storage requirements.
- Classic cars may be some of the cheapest cars to insure, but comparing quotes from multiple providers will help you get the best deal possible.
- New Jersey classic car insurance provides customizable coverage for everything from historic hot rods to modern muscle cars.
- Classic car policies are often cheaper than standard insurance policies, but they also tend to include limitations on usage and storage requirements.
- Classic cars may be some of thecheapest cars to insure, but comparing quotes from multiple providers will help you get the best deal possible.
What is classic car insurance?
Classic car insurance includes many of the same car insurance coverage options available for everyday cars, but there are a few key differences. Insurance for a classic car is more customizable and includes extra provisions like flexible mileage, agreed value coverage, and specialty coverage for collector models.
What is a classic or antique car?
A classic car is a 10-24 year old vehicle with a vested historical interest. Examples include hot rods or muscle cars.
Meanwhile, an antique car is basically an older classic car: A vehicle 25 years or more years old with a decided historic interest.
These two distinctions exist mostly for registration purposes. For insurance purposes, your car doesn’t have to be older to qualify—that’s why this type of coverage is often called “collector coverage.”
In addition to providing coverage for older, antique, and vintage autos, classic coverage can also protect everything from a brand new exotic import to a newer modified sports car.
What makes classic car insurance different?
In general, you can expect to pay less for classic and collector car insurance than regular auto insurance, but there are some stipulations, including:
- Limited use provisions: Some policies stipulate that the car can only be used for the occasional joyride and public events like exhibitions, car shows, and club activities to be protected. So, no daily drivers!
- Safe storage requirements: Classic car policies often require the vehicle to be securely stored indoors and restored to or maintained in original manufacturer condition. (For example, you’ll be disqualified if you install a ‘97 engine into a ‘67 Firebird, for instance, even if the exterior is untouched.)
Keep in mind: With classic car insurance comes the opportunity for customization, beginning with the agreed value of your car. Since most specific makes and models have no set “book value,” you will have to negotiate with your insurance company to determine what dollar amount will be covered.
New Jersey classic car insurance
According to the state of New Jersey, to be registered as an historic vehicle, the car must be at least 25 years old and owned as a collector’s item, meaning it’s only used for exhibitions or education purposes. It must also be unaltered from the original manufacturer design.
Historic car owners must apply for historic designation by presenting photographs, a New Jersey car title, and paying a $44 fee. You can purchase a New Jersey historic license plate at multiple
DMV
locations.But remember, classic car insurance isn’t just for historic vehicles in the Garden State. Whether you’re driving a vintage hot rod or a brand new Maserati, New Jersey requires the following coverage for your classic or collector car:
- $30,000 in bodily injury liability per accident
- $50,000 in uninsured motorist bodily injury per accident
These coverage levels match the minimum requirements for all cars in the state.
What impacts the cost of classic car insurance in New Jersey?
While classic and collector car insurance is usually cheaper than your standard car insurance policy, your monthly rates can change depending on what specific types of insurance coverages you need.
Factors that can impact your classic car insurance rate include:
- Model year
- Stated or guaranteed value
- Mileage
- Type of vehicle
- Policy customization—if you include things like flatbed towing, roadside assistance, spare parts coverage, etc.
- Your driving record
Benefits of classic car insurance
Because historic and collector vehicles have a high value (with some being so unique that they’re literally irreplaceable), a standard auto insurance policy will not be enough to compensate you in the event of an accident or total loss.
Even within the realm of classic car insurance, some cars will qualify as collectibles if their value exceeds the original selling price.
Either way, for your peace of mind, there are many benefits of getting classic car insurance, provided you’re willing to adhere to often-included usage limitations:
- Rates 40% to 70% lower than standard car insurance
- Higher coverage limits (often up to $500,000)
- Flexible annual mileage limits
- Claims handling from fellow car enthusiasts
- Flexible deductible options
- Guaranteed or agreed value coverage
- Optional coverage for spare parts and memorabilia
- 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, you likely need specialty coverage:
- Antique & classic cars (including limited production cars and street rods)
- Vintage boats
- Modern collector vehicles
- Modified vehicles
- Replicas
- 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
Like with everyday vehicles, classic and vintage cars will need different coverage options depending on where you live, your driving habits, and what kind of maintenance you like to perform on your car.
Here are some common coverage options for classic cars in New Jersey:
Coverage | Description |
|---|---|
Comprehensive | Covers damage that isn’t the result of a collision, such as from severe weather or vandalism. |
Collision | Covers damages resulting from a collision with another vehicle or stationary object. |
Uninsured/underinsured motorist | Covers damages if you’re involved in an accident with a driver who doesn’t have auto insurance. |
Agreed value coverage | If 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 mileage | Tired mileage plans give you flexibility to customize your policy based on how much you actually drive your classic car. |
Roadside assistance | Coverage for tire changes, towing, and other incidental expenses that aren’t part of a typical auto insurance policy. |
Spare parts | Add 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
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car insurance
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