Classic Car Insurance
2026 Audit Guide
Technical specifications for agreed-value underwriting, vehicle classification tiers, and 2026 statutory liability adjustments.
Classification Multipliers
Antique (Pre-1948)
Vehicles 75+ years old, primary original parts.
Classic (1948-1979)
Post-war collector quality, high market stability.
Muscle Car (1964-1973)
High-performance American V8 icons (e.g., GTO, Mustang).
Modern Classic (1990-2010)
Rapidly appreciating 90s/00s cultural icons (e.g., Skyline, Supra).
Exotic/Hypercar
Limited production, specialized maintenance requirements.
Resto-Mod / Custom
Classic chassis with modern performance upgrades.
Agreed Value vs.
Stated Value
For collectors in 2026, the distinction between these two models is the difference between total asset protection and significant financial loss.
Agreed Value
Guarantees 100% payout of the policy limit with zero depreciation. Mandatory for investment-grade assets.
Stated Value
Pays up to the stated amount OR actual cash value, whichever is lowest. Often leads to lower payouts for appreciating cars.
2026 Compliance Audit
The 2026 regulatory landscape has shifted. Specifically, New Jersey's Bill A2426 has mandated higher liability minimums (35/70/25), which has increased the liability portion of classic car premiums by an average of 6.2%.
"Underwriters are now requiring biometric garage access or high-resolution telemetrics for all 'Modern Classic' policies exceeding $100,000 in agreed value."
Institutional FAQ
Verified answers for the 2026 insurance cycle.
Q. How is classic car insurance calculated in 2026?
Calculations are primarily based on the 'Agreed Value' of the vehicle rather than Actual Cash Value (ACV). Because classic cars typically appreciate, insurers use market indices (like the Hagerty Valuation Tool or S-Class benchmarks) combined with usage restrictions (typically <2,500 miles/year) and storage quality to determine premiums. On average, you pay 1.5% to 2.5% of the car's agreed value annually.
Q. What is the 2026 'Modern Classic' insurance trend?
Modern Classics (1990–2010) are the fastest-growing segment in 2026. Due to high demand from Gen X and Millennial collectors, vehicles like the Nissan Skyline GT-R or Porsche 996 are seeing insurance premiums rise alongside their rapidly increasing market valuations. For these cars, choosing 'Inflation Riders' that adjust agreed value automatically every 12 months is becoming industry standard.
Q. Does New Jersey's 2026 insurance law change affect classic cars?
Yes. NJ's 2026 law increasing liability minimums to 35/70/25 applies to all registered passenger vehicles, including classics. While your hull coverage (Agreed Value) remains the same, your liability portion of the premium may see a 5-8% increase depending on your current limits.
Q. Why is agreed value better than stated value for 2026?
Stated Value allows an insurer to pay the amount you stated OR the actual cash value (ACV), whichever is lower at the time of loss. In a high-inflation environment like 2026, ACV often lags behind actual market value. Agreed Value guarantees the full amount on the policy page regardless of market dips, providing 100% financial certainty.
Q. What are the secure storage requirements for 2026 policies?
Strict underwriting in 2026 requires the vehicle to be stored in an 'enclosed, permanent structure' (garage, private hangar, or specialized collector facility). Storing a classic car in a carport or on a driveway typically disqualifies it for low-cost specialty insurance and forces it onto a more expensive standard auto policy.
Q. What mileage limits apply to 2026 collector policies?
Standard classic tiers usually offer 1,000, 2,500, or 5,000-mile annual plans. For 2026, several insurers have introduced 'Leisure Multi-Tier' plans which allow for occasional commuting up to 10 days per month, though this typically increases premiums by 15.4%.