What is Antique Car Insurance? All You Need to Know

Do you have an antique car in Canada that needs special care? Antique car insurance is your ticket to protecting its unique value and historical significance. From safeguarding against theft to covering damages, it ensures your vintage ride stays cherished on the road.

In this guide, we explore everything you need to know about antique car insurance: Specialized coverage options, costs, the best companies providing antique car insurance, and more.

You can use our free tool to explore car insurance quotes online based on the unique needs of your vehicle.

What is antique car insurance?

To kick things off, let’s first understand what it takes to be an antique car. An antique car is generally considered an older automobile, though the specific age definition can vary depending on the source. 

An antique car is typically at least 45 years old, but the Antique Automobile Club of America (AACA) defines an antique car as over 25 years old, which is a less common definition. Legal definitions for antique vehicle registration can vary by location.

Here’s some more information to help you understand if your car is eligible to be antique:

• Era: The antique car era encompasses the early days of automobiles, including the Veteran era, the Brass era and the Vintage era, which range from the late 19th century to the 1930s. Later cars are often referred to as classic cars.
• Condition: Antique cars are valued for their originality and historical significance. They may be in original condition, or they may be restored to match the original manufacturer's specifications.
• Value and use: Antique cars, especially those in pristine condition, can be very valuable. They're often seen as collector's items and are not typically driven every day. They might be kept in storage, exhibited at car shows or driven on rare occasions.

As the name suggests, antique car insurance is a car insurance policy that protects your antique car. That said, there’s a lot more to it — coverage, exclusions, cost and more. Let’s find out everything about it. 

Before you choose any plan, always compare multiple plans. It will not only help you save money but will also get you better coverage. Use our comparator below to get free car insurance quotes online from Canada's best companies.

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What does antique car insurance cover?

Antique car insurance is a special type of car insurance — for vehicles that meet the criteria for an antique car.

Now, here’s the catch: The exact age requirement can vary by insurer, but it's typically for cars at least 20-25 years old, and sometimes even older (like 45+ years old). Some insurers might also have additional requirements related to the car's condition, value or participation in car clubs or shows.

Agreed-value coverage: Unlike regular car insurance that uses depreciated value, antique car insurance uses agreed-value coverage. This means you and the insurance company agree on the car's worth upfront, ensuring you get the full value in case of a total loss.

Coverage options

It typically offers similar coverage options to regular car insurance, including:

• Liability coverage: Covers injuries and property damage caused to others in an accident you're responsible for.
• Comprehensive: Covers damage to your car from things other than collisions, like fire, theft, vandalism or weather events.
• Specialized coverage: Some insurers might offer additional coverages tailored to antique cars, such as:
  • Towing to specialized classic car repair shops
  • Coverage for attending car shows or events
  • Coverage for spare parts, which can be rare and expensive for antique vehicles

What does antique car insurance not cover?

Antique car insurance offers specialized coverage, but when it comes to exclusions, it’s no exception. Similar to regular car insurance, antique car insurance typically doesn't cover:

• Daily use: This insurance isn't meant for everyday driving. Most policies will have mileage limitations, meaning they only cover the car if it's driven below a certain number of miles per year. Exceeding this limit could void your coverage.
• Racing or competitive events: Insurers typically exclude coverage for damage sustained during racing, drag racing or other competitive driving events.
• Wear and tear: General wear and tear from regular use isn't covered by antique car insurance. This includes things like mechanical breakdowns due to normal aging or worn-out parts.
• Modifications: Some insurers might exclude coverage for cars with significant modifications that deviate from the original manufacturer's specifications.

Additionally, if you plan to use the antique car as your primary vehicle, you'll likely need standard car insurance, which offers broader coverage for daily driving.

How much does antique car insurance cost in Canada?

You can’t predict the exact cost of antique car insurance in Canada is difficult to predict without getting a personalized quote. That said, costs typically range from $300 to $1,000 per year.

Even this average cost can be up and down based on several factors that can influence the final premium, such as:

1. Your car's value: The higher the agreed value of your antique car, the more it will cost to insure.
2. Your car's age and condition: Rarer, older and well-maintained vehicles will generally be more expensive to insure.
3. Your driving record: A clean driving record can lead to lower premiums.
4. Mileage driven annually: Lower mileage typically qualifies for discounts.
5. Your location: Insurance rates can vary by province. For instance, the antique car insurance Ontario premiums might be a bit higher than those in Alberta.
6. The type of coverage chosen: More comprehensive coverage will cost more than basic liability.

Instead of relying on estimates, use our comparator to get accurate quotes from different insurance companies specializing in classic/antique car insurance in Canada.

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How does an antique car differ from a classic car?

The main difference between a classic car and an antique car lies in their age. Here's a breakdown:

Classic Cars

• A classic car is generally considered to be at least 20 years old, but not older than 45 years. This range can vary slightly depending on the source.
• Classic cars are often recognized for their cultural significance, unique design features or exceptional performance during their era.
• They might still be driven somewhat regularly, but they're also valued for collecting and restoration.

Antique Cars

• An antique car is typically defined as being over 45 years old. Antique cars represent the early days of automobiles, with some dating back to the late 19th century.
• They are seen as historical artifacts, valued for their originality and connection to automotive history.
• Antique cars are often driven less frequently and are more likely to be kept in collections or exhibited at car shows.

Feature	Classic Car	Antique Car
Age	At least 20 years old	Over 45 years old
Significance	Cultural significance, unique design or performance	Historical significance, connection to automotive history
Use	May be driven regularly, but also collected and restored	Driven less frequently, often kept in collections or exhibited
Example	1970 Ford Mustang Boss 302	1915 Model T Ford

Where can you get antique car insurance in Canada?

Finding antique car insurance companies in Canada can be challenging since we have limited options. While we don’t have a lot of direct options for antique car insurance in Canada, we do have plenty of options for classic car insurance companies, which can extend their offerings to antique cars, too.

So if you are having trouble finding an antique car insurance provider near you, talk to a classic car insurance provider and see if they can help you with your needs.

Here are some options you can consider:

Hagerty Canada

Hagerty is a leading provider specializing in collector car insurance. It offers agreed-value coverage, guaranteed value coverage (optional), comprehensive and collision coverage with options, roadside assistance and coverage for attending car shows and events (restrictions may apply).

Hagerty’s primary focus is on collector vehicles, potential multi-car discounts, online valuation tools and club membership with benefits (may vary).

Allstate Canada: Partnered with Hagerty

Backed by Hagerty's classic car insurance expertise, Allstate car insurance offers agreed-value coverage and flexible coverage options. You can tailor your coverage for collector cars and potential benefits from Allstate's network and services (check details with Allstate).

Vintage Auto Insurance

Vintage Auto Insurance offers customization based on individual needs and caters to a variety of classic and antique cars. You get coverage for agreed-value, options for comprehensive and collision and roadside assistance (may vary by policy). Did we mention that you can customize your coverage options?

CAA Insurance (availability varies by province)

Like all other providers, CAA car insurance offers agreed-value coverage, coverage during restoration, repair shop of choice for repairs (some restrictions may apply) and some discounts for CAA members. If you’re an existing CAA member, you might be eligible for specialized service for your antique or classic cars.

To get a better idea about each provider, visit their website and look for their classic/antique car insurance section. You can also use our comparator to compare your options.

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