Best Classic Car Insurance In Delaware For 2025

This review will compare the top classic car insurance companies in Delaware and examine the average insurance costs. Without selecting a proper policy, you could end up with insufficient coverage, leaving you vulnerable to financial losses in case of theft or an accident.

After 15 years of selling insurance in Delaware, I’ve seen firsthand how important it is to choose the right insurer to protect your classic car.

What Is Classic Car Insurance?

Classic car insurance is a type of auto insurance specifically designed for vintage and collectible vehicles that aren’t used for everyday driving. These policies often feature agreed value coverage, where the car’s value is set between the owner and insurer upfront, guaranteeing full compensation in case of a total loss. This insurance also typically offers coverage for spare parts, tools, and specialized repairs that classic cars might require.

Eligible vehicles usually include those that are 20-25 years old, well-preserved, and often restored to their original state. However, the exact criteria can differ among insurers, with some covering modern classics and exotic cars as well. These vehicles are mostly driven for shows, parades, and leisure, rather than daily use.

Classic car insurance is perfect for car lovers and collectors who own vehicles with historical or sentimental significance. It provides comprehensive protection that standard auto insurance might not, including safeguards against depreciation and coverage for the unique requirements of maintaining classic cars. By opting for classic car insurance, owners can be confident their valuable vehicles are well-protected.

Are Classic Cars More Expensive To Insure Than Regular Cars?

Insuring classic cars is often more affordable than insuring regular vehicles, largely because of how these cars are used and maintained. Classic car insurance policies usually include restrictions such as limited mileage and secure storage, which reduce the likelihood of claims. These conditions contribute to lower premiums compared to standard auto insurance.

The cost of insuring a classic car is influenced by various factors, including the agreed value of the vehicle, the owner’s driving record, and the chosen coverage level. Agreed value coverage ensures that the car’s full value is covered in case of a total loss, as the value is set by both the owner and insurer upfront. This differs from regular car insurance, where payouts are often based on the depreciated value of the vehicle.

The specifics of coverage, such as the car’s age, condition, rarity, and usage, also play important roles in determining the premium. While classic car insurance is generally more affordable due to lower usage and the vehicle’s condition, the actual cost can vary significantly based on these factors.

Is My Car Eligible For Classic Car Insurance?

Qualifying for classic car insurance involves meeting certain criteria set by insurers. Typically, a car must be at least 20-25 years old to be classified as a classic. However, some insurers may make exceptions for younger cars if they are historically significant or particularly rare, such as modern classics or special editions.

In addition to age, the car must be well-maintained and used primarily for leisure, shows, or parades rather than daily commuting. Insurers also require that the car be stored in a secure, locked garage to minimize risks like theft or damage when not in use.

Owners are usually required to meet additional criteria, such as having a clean driving record and owning another vehicle for everyday use. This ensures that the classic car isn’t the primary mode of transportation. Insurers may also impose mileage limits, generally between 1,000 to 5,000 miles annually, to limit the vehicle’s usage.

Ultimately, eligibility for classic car insurance hinges on meeting these requirements, which are designed to safeguard both the car and the insurer. By maintaining your vehicle and using it as intended, you can secure the specialized coverage you need.

How Much Is Classic Car Insurance In Delaware?

In Delaware, the annual cost of classic car insurance generally ranges from $200 to $800. This amount varies based on factors like the vehicle’s value, the chosen coverage level, the driver’s record, and the frequency of vehicle use. Classic car insurance tends to be more budget-friendly than regular car insurance, thanks to the reduced usage and lower risk associated with these vintage vehicles.

The table below highlights the average costs from five providers:

How Is Classic Car Insurance Different From Regular Car Insurance?

Classic car insurance is distinct from regular car insurance in several notable ways, addressing the special requirements of antique and collectible vehicles.

• The coverage structure is distinct. With classic car insurance, there’s often “agreed value” coverage, where the car’s worth is established at the policy’s start. In case of a total loss, the full agreed amount is paid out. Conversely, regular car insurance provides “actual cash value” coverage, which includes depreciation, potentially resulting in lower compensation.
• Usage restrictions also set classic car insurance apart. Classic car insurance usually restricts mileage to a certain annual limit and is intended for use in special events rather than everyday driving. Regular car insurance, in contrast, is designed for vehicles used regularly for commuting and daily tasks.
• Storage requirements for classic cars are more stringent Insurers often require that these vehicles be kept in a secure, locked garage when not in use to prevent theft and environmental damage. Regular car insurance does not impose such detailed storage rules.
• The coverage options themselves are tailored to the needs of classic car owners. These might include coverage for spare parts, restoration efforts, and specialized roadside assistance. Regular car insurance typically focuses on standard coverage like liability, collision, and comprehensive.
• Cost differences can be notable. Classic car insurance is often less expensive due to the reduced risk from limited use. The premiums are influenced by factors like the vehicle’s age, condition, and usage restrictions, leading to lower costs compared to regular car insurance for frequently used vehicles.

Types Of Insurance For Classic Cars

There are various types of coverage under classic car insurance, each suited for specific classic vehicles. Below are the three primary types:

Antique Car Insurance

Antique car insurance covers vehicles typically over 25 years old that are maintained or restored to good condition. These cars are usually driven for exhibitions, parades, and leisure activities instead of daily use. Policies often feature agreed value coverage, guaranteeing full compensation based on the car’s appraised value if it’s totaled.

They may also offer protection for spare parts, specialized repairs, and sometimes costs related to vehicle displays. Insurers might impose mileage limits and require secure storage to minimize potential risks.

Modified Car Insurance

Modified car insurance caters to vehicles that have been customized beyond their original factory specs, such as through engine upgrades, bodywork changes, or performance enhancements. Standard insurance policies often struggle to cover these vehicles due to the added risk from non-standard parts.

Modified car insurance provides coverage based on the agreed value of the vehicle, including the worth of the modifications. This type of policy is essential for owners who have significantly upgraded their classic cars, guaranteeing protection for their custom work.

Replicas Insurance

Insurance for replica cars is meant for vehicles that replicate or reproduce classic or antique cars. These vehicles aim to resemble historic models but are often built with contemporary materials and techniques. Due to differences in value and replacement costs compared to original classics and regular cars, replica insurance provides specialized coverage.

It usually includes agreed value coverage to ensure the vehicle is insured for its full appraised value. Additionally, policies might cover replica-specific parts and offer features such as protection for participation in car shows and events.

Should I Buy Classic Car Insurance?

Choosing classic car insurance provides various benefits specifically designed for the unique requirements of classic car enthusiasts. Here are some of the key advantages:

Agreed Value Coverage

One of the key benefits of classic car insurance is the agreed value coverage it provides. Unlike regular auto insurance, which pays out based on the car’s depreciated value, agreed value policies ensure you get the full appraised value of your classic car in the event of a total loss. This is vital for protecting your investment, given that classic cars may appreciate in value.

Specialized Coverage Options

Policies for classic car insurance often come with tailored coverage options for classic car owners. This may cover spare parts, tools, and the costs of restoration work. Moreover, these policies can offer specialized roadside assistance, equipped to manage the distinct needs of classic cars and ensure that any issues are handled with the necessary expertise.

Cost Benefits

Compared to regular car insurance, classic car insurance tends to be more affordable. This is because classic cars are generally driven less and kept in secure locations, reducing their risk of accidents and theft. Lower premiums make it a budget-friendly choice for owners who primarily use their classic vehicles for recreational purposes, car shows, and exhibitions.

Flexibility and Peace of Mind

Classic car insurance offers peace of mind by safeguarding your cherished vehicle. The range of policy options available allows you to tailor coverage to your exact requirements, whether for an antique, modified, or replica car. This comprehensive coverage ensures that all aspects of your vehicle’s value and usage are adequately protected.