Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health insuran...

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Written by Rachael Brennan
Licensed Agent for 15 Years Rachael Brennan

Chris Harrigan has an economic degree from Limestone College and an MBA from Clemson University. He previously managed auto insurance claims for Enterprise Rent-A-Car. Currently, he is using his business and insurance expertise to provide insurance data analysis and visualizations to enhance the user experience.

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Reviewed by Chris Harrigan
Former Auto Insurance Claims Manager Chris Harrigan

UPDATED: Jun 21, 2022

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Key Takeaways

  • Classic car insurance policies usually require vehicles to be in a garage, but finding a company that will give you classic car insurance with no garage is possible
  • Examine all local state laws regarding classic car insurance that doesn’t require a garage
  • Do not ignore terms put forth in a classic car policy

Restoring a classic car is a long, arduous, and, yes, fun process. A vintage car from 1957 might need a lot of work, which is fine to those capable of tracking down missing parts and performing the installation. Others may choose to simply purchase a fully restored classic car.

Both owners might look at their labors of love as investments. Classic cars might bring forth exceptional resale value.

Purchasing a classic car insurance policy is going to be necessary to protect the investment. The process of comparison shopping for such a policy is no different from buying a standard auto insurance policy.

And with that statement, those not familiar with classic cars might be a little surprised.

Newbies to the hobby of classic cars might not know special insurance with equally special conditions is required when insuring a classic car. A requirement to store the car in a garage is a common rule in many policies for classic cars.

Not everyone has access to a garage, though. Is there a car insurance policy that allows for classic car insurance with no garage? The right comparison shopping may reveal one.

Start comparison shopping today for better auto insurance rates for your classic car! Enter your ZIP code above and compare at least three to four policies!

Classic Car Insurance vs. Standard Car Insurance

Classic car insurance with no garage is completely possible if a standard auto policy is bought for a classic model. Any car can be insured under a standard car policy.

As long as the vehicle is registered in a state and, if required, passes inspection, even a very old vehicle could be covered under an insurance policy. Check local state laws to be sure.

Placing a classic car under a standard policy, however, could be improper and costly if the car is a collectible.

The owner has no intention of driving a rare and collectible 1933 vehicle on a 70-mile round trip commute to work. The car is going to be parked.

Classic car insurance is going to be relatively inexpensive since the vehicle is not in daily use. The policy, however, may cover a high amount of comprehensive and collision insurance since antiques could go up in value.

And classic cars can go up in value.

A “beat up” model purchased for $5,000 and restored for $10,000 may end up being worth $40,000 in 10 years. A brand new $20,000 car might end up being worth $1,500 in 10 years.

The combination of low insurance and possibly high payouts leads to providers putting certain rules on those seeking a policy.

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Classic Car Insurance That Doesn’t Require a Garage

Those without access to a garage might be disappointed with the news that numerous car insurance companies simply won’t cover a classic car unless the vehicle is parked safely in a garage.

However, not all insurance companies are going to refuse to insure a vehicle not placed in a garage.

Comparison shopping is required to find one that would give a stamp of approval on classic model parked on the street.

The number of insurance companies that won’t require a garage policy is probably slim.

Why would an insurer insist on a garage? Collectibles are often targeted for theft.

Would an insurer cover the costs associated with the theft of art if the art was not properly secured inside a locked home or storage facility? The imposition of a garage requirement makes sense from this perspective.

Additionally, parking the model in a garage adds for protection against vandalism and potential damage.

An “old vehicle” worth $100,000 might be at risk of being totaled if parked on the street and hit by a drunk driver or out of control truck.

The weather alone could present severe hazards. Snow and hail could do a lot of harm to an expensive and rare vehicle. Even the sun presents significant risks.

Paying out huge sums on an antique insurance policy after only taking in $200 a year on the policy reveals why an insurance company would impose the garage requirement.

Again, not every insurance company would mandate a garage rule. Finding a policy for classic car insurance with no garage requirement, however, might necessitate quite a bit of searching.

Examining the Other Rules with Classic Car Insurance

Other rules and restrictions are going to apply when placing a vehicle under a classic car policy. A set limit of mileage per year may be imposed.

The limitations on mileage could be as low as 300, but this is understandable. The vehicle is not intended for driving. If it were, then a standard policy would be far more appropriate.

Policies that place a minimal limitation on mileage, or no limitation, are going to come with a higher premiums cost.

Understand what type of driving is outright barred. Using the vehicle to drive for business could void the coverage.

For example, taking the classic car out on the road to drive to work just one day might be enough for the insurer to deny claims.

Interestingly, an insurance company may require the person who seeks classic car insurance already own an insured vehicle. This way, the insurance company feels confident the classic car will not be used more often than necessary.

As a rule, make sure all the limitations associated with a classic car policy are clearly understood.

Remain Within the Terms

Accepting terms that mandate parking in a garage or severely restricting how much driving can be done would be prudent. Failure to do so puts the policy and all its protection at risk.

Someone who places the car in private storage long enough to acquire a policy only to park the car on the street after the policy is approved is not going to be in a good position if the vehicle is totaled or stolen.

Insurance policies are contracts. Violating a contract leaves them null and void. In other words, claims would end up denied.

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Registration of Classic Vehicles

In order to acquire classic car insurance, the vehicle must be officially registered as one. The rules and requirements are going to vary from state to state.

In Indiana, the vehicle must be at least 25 years old and driven only a very limited number of miles per year to be deemed a “collector vehicle.”

The state of Indiana also requires a “Collector Vehicle Affidavit” to be filled out and submitted as part of the registration process.

In Maine, an updated antique auto affidavit must be submitted to renew the registration. This requirement could have an effect on the ability to register the vehicle online.

Registering a classic car vehicle with the DMV requires extra steps to cut down on the potential fraud of people using a classic car for daily use in order to escape higher insurance premium fees and other potential costs.

Ultimately, the added duties for registering the vehicles adds to the integrity of the collector car market. This accountability, in turn, makes buying classic car insurance more affordable.

The Issue of Liability

The chances of causing bodily injury or property damage with a classic car are very slim. Still, merely taking the vehicle out on the road to bring it to an annual car show brings risks.

Predicting what may or may not happen is impossible, which is why acquiring a decent amount of liability insurance is suggested.

Many end up enthralled over the low cost of classic car insurance, but they make the mistake of not truly assessing their liability coverage.

Classic Car Insurance That Doesn’t Require a Garage: The Bottom Line

Ultimately, all forms of car insurance are intended to protect the finances of the policyholder. As such, classic car owners need to be serious about finding the best classic car policy with appropriate terms.

Before making any final decisions on your insurance company, it is important to learn as much as you can about your local insurance providers, and the coverages they offer. Call your local insurance agent to clear up any questions that you might have. Questions to consider asking include, “What is the best coverage plan for me/my family/my situation?” “What are the minimum coverage requirements in my state and what form of coverage do you recommend?” “Do you guys offer any bundle discounts if I take out both my auto insurance and home insurance with you?” and “What is the average rate of insurance quotes you guys offer?”

Before making any big insurance decisions, use our free tool to compare insurance quotes near you. It’s simple, just plug in your zip code and we’ll do the rest!

Are you trying to find the best auto insurance for your classic car? Start comparison shopping today by entering your ZIP code below!