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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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: Mar 12, 2022

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Key Takeaways

  • State Farm classic car insurance plans provide customizable coverage options for vintage vehicle owners
  • Coverage types include liability, collision, and comprehensive insurance
  • You work with an agent to agree on your vehicle’s value

Are you buying a classic car? Maybe you already own one. Either way, you might be curious about car insurance for your antique vehicle. We’ve got you covered. We take the stress out of shopping for auto insurance with honest reviews of car insurance companies and access to free and easy quotes. Today, we will break down the coverage available with State Farm classic car insurance. 

State Farm car insurance is a well-known option for auto coverage. State Farm’s classic car insurance plans offer a variety of benefits for owners of vintage vehicles. We’ll look at the coverage options available, and we’ll discuss the essential things you need to know when buying a classic car. 

What is State Farm classic car insurance?

Whether you rebuilt and restored the car yourself or you bought it in pristine condition at an auction, you must protect your investment. While new vehicles begin to lose their value the second you leave the lot, classic cars grow in value over time. Antique car insurance plans can protect your assets.

State Farm classic car insurance is an excellent way to safeguard the money you put into your antique vehicle. The company offers a wide range of coverage options to ensure your vintage car is protected if it is damaged. 

What vehicles are eligible for State Farm classic car insurance?

Vehicles must meet a few requirements to qualify for State Farm classic car insurance. State Farm classifies classic cars into two age categories:

  • Classic car. This coverage category is for cars 10-24 years old with historical interest. Classic car examples include hot rods and muscle cars. 
  • Antique car. Vehicles with historic interest ages 25 and older are classified as antique cars. All vehicles aged 25 years and older are considered antique cars for insurance purposes. 

Your antique or classic car must meet the following requirements to be eligible for State Farm’s classic car insurance policies:

  • Limited use. Classic and antique vehicles should only be driven infrequently or for special occasions. Some examples of appropriate uses are car shows, exhibitions, club activities, parades, and limited pleasure driving.
  • Condition. Your classic or antique car must be restored, maintained, and preserved in its original condition, or be in the process of restoration. Insurance companies may decline to insure vehicles in poor condition.
  • Storage. Your vehicle must be stored in an enclosed building to be eligible for State Farm classic car insurance.

You must contact an agent to get policy details specific to your vehicle. State Farm’s classic car insurance plans may differ by state. 

State Farm Classic Car Insurance Coverage Options

The coverages available with a State Farm classic car insurance policy include:

  • Liability insurance. Liability coverage pays for damages you cause to others while driving your classic car. Most states require a minimum level of liability car insurance.
  • Medical payments insurance. This type of coverage helps pay the costs of medical or funeral expenses when you or a family member are hurt in a car accident.
  • Collision insurance. Collision coverage helps cover losses related to hitting another object or vehicle while driving your antique car.
  • Comprehensive insurance. Comprehensive car insurance pays for damage to your classic vehicle caused by non-collision events. Causes of loss covered by these plans include weather, animals, vandalism, and theft.
  • Uninsured/Underinsured motorist insurance. This coverage pays for damages to your vintage vehicle caused by drivers without insurance or with inadequate insurance.
  • Emergency road service. State Farm’s emergency road service can assist you with parts, fuel, or towing services if your classic car breaks down.

State Farm’s classic car insurance plans are subject to policy provisions and optional riders. You must speak with an agent to receive more custom details and a quote for your situation. 

What does State Farm classic car insurance cost?

With a State Farm classic car insurance plan, your premiums are based on a couple of factors:

  • Agreed value. Vintage vehicles have no standardized book value. As a result, you and the company must agree on the value of your car. The value of a classic car is based on factors like age, condition, and type of vehicle.
  • Deductibles. You can choose your deductible. Selecting a higher deductible will result in lower premium rates.

Your State Farm classic car insurance policy will pay greater amounts of money for cars that are valued higher. 

Additional Features of State Farm Classic Car Insurance

State Farm’s classic car insurance policies include access to many helpful features and benefits. 

If the insurance company declares your vehicle a total loss, you will receive the agreed value of your car. The agreed value may be higher than your car’s actual cash value. This ensures that you get the money you deserve for your vehicle if it’s totaled. 

State Farm classic car insurance policyholders can receive up to $500 in coverage for spare parts.

You have access to State Farm’s 24-hour good neighbor service. If you have a State Farm classic car insurance plan, you can call an agent, day, or night, for help with your vintage car insurance.

State Farm takes a particular interest in ensuring vintage vehicles. In 2010, the company’s employees built the 1968 “split Camaro” as a teaching tool. The car is split into two halves and illustrates the difference between a fully restored vintage vehicle and one heavily modified.

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What to Know When Buying a Classic Car

Buying a classic car is much different from purchasing a new car off the lot. If you’re shopping for a vintage vehicle, there are several things you should keep in mind. 

How to Buy a Classic Car

While buying a classic car, you must remember the following considerations:

  • Invest with caution. The market for vintage and collectible cars is highly inconsistent. Antique vehicles have no standardized book value, and your investment cannot be guaranteed.
  • Determine what the car’s use will be. You can decide what type of classic car to purchase by considering a few questions. Will it be a daily driver? Do you want to show it? Will it stay in your garage unused?
  • Decide on your budget. After determining a budget, stick to it. Classic cars are expensive. They often become even more costly after you begin the restoration. 
  • Research. You can consult price guides and auto auctions to get a general idea of your vehicle’s market price. You must read all the information you can. Always check the car’s retail value you want to buy to get a baseline price.
  • Check the mileage. Fewer miles on a car equals greater vehicle value. While many classic cars have high miles, it’s always wise to search for the vehicle with the lowest mileage.

Vintage vehicles are much different from new cars. You won’t usually get a warranty or return option with a classic car, so you must do all the research you can when buying a classic car. 

An Inspection Checklist for Buying a Classic Car

Visual inspection is crucial when buying a classic car. If you don’t know much about vintage vehicles, you can hire a professional mechanic to perform the inspection. 

You can inspect the antique car yourself, but remember to check these things:

  • Vehicle title. Ensure the car is registered correctly to the seller. It can be costly if you have to apply for a new title.
  • Vehicle identification number (VIN). Make sure the VIN on the title matches the number on the car. The VIN can usually be found in the lower corner of the driver’s side windshield or the driver’s door jamb.
  • Interior condition. Replacement parts for vintage vehicles are expensive. Check the seats, upholstery, badges, radio, dashboard, and emblems to ensure that the car’s price matches its condition.
  • Exterior condition. Try to inspect the car during the day. Look at the paint, visible dents, or misaligned body panels. Check for signs of structural repairs or welding.
  • Rust presence. A small amount of rust might be ok. It’s essential to look for any signs of large-scale vehicle rust. It can be costly to replace large body panels or sections of the floorboard. 

The final step should be a test drive. While driving, listen for knocks, squeaks, and clunks. Listen and feel for wobbly or loose parts while going over bumps and around corners.

State Farm Classic Car Insurance in a Nutshell

Vintage vehicles are quite different from newer cars. Instead of depreciating, antique cars appreciate. It’s critical that you have quality protection for your investment.

State Farm’s classic car insurance policies are an excellent way to protect your investment. Coverage types include liability, collision, comprehensive, and more. 

State Farm classic car insurance plans allow you to choose your deductible. You work with an agent to agree on the vehicle’s value. 

If you own a vintage vehicle, or you’re considering buying a classic car, a State Farm classic car insurance policy might be an excellent choice for you.