Protect the Vehicles You've Worked Hard to Preserve

Classic cars, antique vehicles, muscle cars, hot rods, vintage trucks, and collector vehicles are often more than transportation—they are investments, hobbies, family heirlooms, and pieces of automotive history.

At M&M Insurance Agency, we help vehicle enthusiasts throughout Michigan and Wisconsin protect their collector vehicles with specialized insurance designed for how these vehicles are actually used and valued.

 

What Is Collector Vehicle Insurance?

Unlike a standard auto insurance policy, collector vehicle insurance is designed for vehicles that are:

• Preserved

• Restored

• Customized

• Appreciating in value

• Used on a limited basis

These policies often provide broader protection and more favorable claim settlements for collectible vehicles.

 

What's the Difference Between Classic, Antique, and Historical Vehicles?

Many people use these terms interchangeably, but they can mean different things for registration and insurance purposes.

 

Classic Vehicles

Generally, a classic vehicle is:

• Older than 20-25 years

• Maintained in good condition

• Used for hobby, pleasure, exhibitions, or occasional driving

• May be restored or modified

 

Examples:

• 1985 Chevrolet Monte Carlo

• 1993 Ford Mustang LX

• 1998 Chevrolet Corvette

 

Classic vehicles may qualify for specialized collector insurance even if they are driven occasionally.

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Antique Vehicles

Antique vehicles are typically:

• 25 years old or older

• Maintained primarily for preservation, exhibitions, parades, and hobby use

• Often restored to original condition

 

Examples:

• 1967 Chevrolet Camaro

• 1957 Chevrolet Bel Air

• 1931 Ford Model A

 

Many antique vehicles qualify for specialized registration plates and collector insurance programs.

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Historical Vehicles

Historical registration is a state-issued registration classification.

In Michigan, historical registration generally applies to vehicles:

• 26 years old or older

• Owned as collector vehicles

• Not used for daily transportation

• Driven primarily for exhibitions, club activities, parades, tours, and maintenance purposes

Wisconsin has similar collector and hobby vehicle registration classifications.

Historical registration affects how the vehicle can be legally used on public roads but does not automatically determine insurance eligibility.

 

Why Standard Auto Insurance May Not Be Enough

Traditional auto insurance policies often settle claims based on:

 

Actual Cash Value (ACV)

Actual Cash Value considers depreciation.

 

Example:

A restored 1969 Camaro may be worth $45,000 to collectors but could receive a much lower valuation under a standard auto policy.

This is one reason many enthusiasts choose collector vehicle insurance.

 

Agreed Value Coverage

One of the most valuable features of collector vehicle insurance is Agreed Value coverage.

 

How It Works

Before the policy is issued:

• You and the insurance company agree on a vehicle value.

• Documentation may include photos, appraisals, receipts, or restoration records.

 

If a covered total loss occurs:

• The agreed value is paid, subject to policy terms and conditions.

• No depreciation deduction is applied.

 

Example:

• Agreed Value: $35,000

• Covered Total Loss: $35,000 payout

 

This provides greater certainty than standard Actual Cash Value policies.

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What Types of Vehicles Can Be Covered?

Coverage may be available for:

 

Classic Cars

• Muscle cars

• Vintage cars

• Restored vehicles

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Antique Vehicles

• Pre-1980 vehicles

• Historic automobiles

• Preservation vehicles

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Collector Trucks

• Vintage pickups

• Restored utility trucks

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Street Rods & Hot Rods

• Modified vehicles

• Custom builds

 

Collector Motorcycles

• Antique motorcycles

• Custom motorcycles

• Vintage bikes

 

Military Vehicles

• Historic military vehicles

• Restored military transports

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Specialty Collector Vehicles

• Rare vehicles

• Limited-production vehicles

• Show vehicles

 

What Does Collector Vehicle Insurance Cover?

Coverage options may include:

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Agreed Value Coverage

Protection based on a pre-established value.

 

Collision Coverage

Protection from covered collision losses.

 

Comprehensive Coverage

Protection against:

• Fire

• Theft

• Vandalism

• Falling objects

• Weather damage

 

Spare Parts Coverage

Coverage may be available for:

• Replacement parts

• Rare components

• Stored parts inventories

 

Restoration Coverage

Some policies offer protection during vehicle restoration projects.

 

Towing & Roadside Assistance

Coverage designed specifically for collector vehicles.

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Usage Requirements

Collector vehicle policies generally require:

• Limited annual use

• Secure storage

• Another vehicle available for daily transportation

• Responsible driving records

 

Requirements vary by carrier.

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Why Enthusiasts Choose Specialized Collector Insurance

Benefits may include:

• Agreed value protection

• Specialized claims handling

• Flexible collector vehicle programs

• Coverage for restorations

• Protection for rare parts

• Lower premiums than standard auto policies in many cases

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Why Choose M&M Insurance Agency?

We understand that collector vehicles are often much more than transportation.

We help owners:

• Insure classic and antique vehicles properly

• Determine appropriate agreed values

• Review usage requirements

• Protect restoration investments

• Transfer existing collector policies

• Compare available coverage options

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Whether you own one collector vehicle or an entire collection, we can help you find the protection you need.

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Frequently Asked Questions

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What is the difference between classic and antique vehicles?

Generally, antique vehicles are older and often maintained primarily for preservation, while classic vehicles may be newer collector vehicles that are still enjoyed on a limited basis.

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What is agreed value coverage?

Agreed value coverage establishes a vehicle value before a loss occurs and helps eliminate depreciation concerns during a covered total loss claim.

 

Can I drive my collector vehicle regularly?

Collector vehicle policies typically have usage restrictions. Daily commuting is generally not permitted.

 

Does historical registration affect insurance?

Historical registration affects vehicle registration and usage requirements but does not automatically determine insurance coverage.

 

Can modified vehicles be insured?

Yes. Many collector vehicle programs can insure custom vehicles, street rods, and modified classics.

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