Classic Car Insurance
Short answer: Get an “agreed value” policy, not a “stated value” one. With stated value, you state a maximum and the insurer’s adjuster will try to appraise the car for less after a loss; with agreed value, you and the insurer settle the car’s value before any claim, so a total pays out what you insured it for.
Agreed-value policies traditionally limit you to ~3,000 miles a year and require a locked garage (some insurers now offer higher-mileage agreed-value for a bit more). Either way, document the car thoroughly — photos of exterior, interior, engine bay, and underside, plus an independent appraisal. (The ~$125/year premium mentioned is decades old and only illustrative.)
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Content last modified: June 13, 2026 at 10:06 am
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