How much does car insurance cost on a classic car?

I have a 1977 Mercedes-Benz 280E that I'd like to insure. I know it's considered a classic car. How much can I expect to pay for insurance?

Answer
“The cost of classic car insurance is dependent on the same factors as regular car insurance, but there are additional requirements. With that said, you can reasonably expect to pay between $400 and $1,000 a year for classic car coverage.
Most classic car policies require:
  • A good driving record
  • Low mileage or limited use, often in the range of 5,000 to 7,000 a year or less
  • Proper storage space or location
Most insurance companies won’t issue a classic car policy without meeting these requirements. This can be an issue as classic cars’ appraised value is worth more than their actual cash value. If you insure a classic car on a liability car insurance policy, you’d lose a majority of its value if it was marked a total loss.
To determine the cost of your insurance and if you’d qualify for a classic car policy, hop on the Jerry app. Here you can compare dozens of rates from some of top insurers in the industry so you can always get the best rate.”
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Emily Maracle
Answered on Sep 10, 2021
Emily Maracle is a car insurance specialist living in New York. Originally from the Pacific Northwest, she has a degree in English Literature and a background in customer service. She enjoys cooking, gardening, and living sustainably. In the future, she can't wait to upgrade to a hybrid or electric car.
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