How can I find auto insurance for my classic car?

I live in the city and do not need a car for everyday driving. I found a great deal on a beautiful 1962 Stingray that I would like to buy for car shows and parades, but I cannot get it insured! Every company says I need to have a daily driver to quality for collectors insurance for the Stingray. What can I do?

Answer provided by
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Shannon Martin
Answered on Apr 29, 2021
Shannon is an expert in personal lines liability insurance with 13 + years of insurance industry experience. She also served as a special insurance liaison to AARP members for 6 of those years. She is a graduate of UL Lafayette and currently resides in NY with her family. Shannon is also an amateur juggler, ukulele player, and is a time travel paradox theory enthusiast.
“Classic or collector car insurance can be hard to get if you don’t have an underlying auto policy. Insurance carriers know that collector cars are costly to repair and they don’t want these cars to be your primary mode of transportation. The risk of an accident is too high.
If you cannot secure car insurance through carriers like Hagerty or Grundy, you may be able to through a standard carrier like Allstate or Progressive. Get in touch with a local insurance broker and explain the situation.
There are times when you can insure a vehicle for the stated amount instead of the actual cash value, and this is what you will want to look for. You will be required to have the car appraised, and then you and the insurance carrier will agree to a stated amount of coverage for your classic car. “
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