Classic Car Insurance

Collector and Classic Car Insurance with Hagerty

Smallwood Insurance understands the wants and needs of classic and collector car owners and only offers the best coverage for your needs. Hagerty is the best company to insure your classic car, which is why we recommend them. If anything happens to your Chevelle, Mustang, Charger or any other classic car, we want to make sure that you get top of the line white glove service. And that’s exactly what Hagerty offers.

Benefits of classic car insurance through Hagerty

Guaranteed Value coverage

In the event of a covered total loss, you will receive the total amount of your insured value minus your deductible with no depreciation. Hagerty means, no hassle.

Flexible usage

Our policies allow for some pleasure use with no fixed mileage restrictions. With Hagerty through Smallwood Insurance, you can go for a weekend drive, take your vehicle up to the local ice cream shop or attend unlimited events and cruises. As long as it isn’t your daily driver, you are covered.

Hagerty Drivers Club^®

Hagerty Drivers Club is designed specifically for collector cars. It is a 24/7 full service roadside assistance program for lockouts, battery jumps, tire changes, emergency fuel delivery and more—guaranteeing flatbed towing with soft straps. You will never have to worry again that your muscle car might lose a bit of muscle on the side of the road.

Expert Claims Handling

Hagerty’s in-house parts specialists can help you track down replacement LKQ, OEM, or NOS parts—if they’re out there, we’ll find them. Hagerty maintains an extensive list of resources for hard-to-find parts.

You’ll save money

Because we specialize in collector car insurance, our premiums are up to 36% lower than daily driver insurance. This gives you more money for the next car…or those stainless steel long tube headers you’ve been eyeing up.

Unparalleled service and knowledge

We know collectible cars, so you deal with real people who understand your car and your needs.

Classic car insurance with Hagerty qualifications

Usage

A policy through Hagerty allows you to use your collector vehicle for club functions, exhibitions, organized meets, tours and even occasional pleasure driving—it just can’t be your daily driver.

Storage

Though we prefer that collector vehicles are stored in an enclosed, secure structure when not in use—such as a private garage, pole barn or storage unit—we will consider other storage types, including:*

• Carports
• Driveways
• Parking garages
• Car hauling trailers

Driver eligibility

In most states, we can only offer coverage to drivers who have not had a serious infraction within the last three years. Serious infractions include:

• Alcohol-related offenses
• Reckless driving
• Excessive speed violations

Regular-use vehicles

• All household members with a valid driver’s license must have a regular-use vehicle for daily driving (Motorcycles and public transportation are not considered viable regular-use vehicles by our program in most cases. Contact us for details.)
• Applicants must also maintain regular-use insurance in their own names. Smallwood Insurance can help with that too!

What is the difference between agreed value and stated value insurance coverage?

An agreed value policy—the same as Hagerty’s Guaranteed Value policy—guarantees that you will receive the full insured amount of the vehicle (with no depreciation, and including all sales taxes), in the event of a covered total loss.

In contrast, a stated value policy (sometimes called “stated amount” or “maximum limit of liability”) gives the insurer the right to pay you either your vehicle’s depreciated cash value amount or the cost to replace your vehicle—and they’ll choose the lower of the two amounts.

How is classic car insurance different from regular car insurance?

Classic car insurance offers some key benefits compared to daily driver or “regular” insurance.

Lower premiums

We understand your car is a prized passion and will be driven with great caution, so we adjust the premiums accordingly—36% lower on average than daily driver insurance. With a daily driver insurance policy, your classic may be rated like a regular-use vehicle, and you’ll be charged as if you were driving the vehicle every day.

Guaranteed Value

More commonly known as “agreed value” coverage, it means you tell us the value of your classic and we’ll affirm that it’s a fair, accurate number. Then, we guarantee that value will be paid to you in the event of a covered total loss. Regular car insurance carriers offer “actual cash value” or “stated value” coverage, which may depreciate the value of your vehicle in the event of a claim, resulting in a smaller payout than you anticipate.

No fixed mileage

Our policy allows you flexible usage—with no fixed mileage limits. Even if you have full coverage through a regular car insurance carrier, there may be mileage and usage restrictions to control how and when your classic is driven.

There are several more benefits classic car policy holders enjoy, visit our Compare to Daily Driver Insurance section to see some more.