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Classic Car Insurance in Ontario

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Classic Car Insurance Ontario

If you have a vintage, collector, or antique car, protecting it with the right classic car insurance is essential. Classic cars are quite different than your traditional automobiles, meaning they need specialized insurance coverage. Classic car insurance, also known as antique car insurance, collector car insurance or vintage car insurance, will provide you with peace of mind knowing your collector car is properly protected.

What Is Classic Car Insurance?

Classic car insurance provides protection for antique and classic cars. Because of the different risks associated with owning these kinds of vehicles, classic car insurance is different from the standard auto insurance. A classic car insurance policy is tailored to the value of your car. Classic car insurance protects you financially against the higher physical and economic costs in the event of an accident with a classic car.

Antique Car Insurance - Morison Insurance - Ontario

Who Needs Classic Car Insurance?

If your car is considered a classic due to its vintage, collector, or antique qualities, you need classic car insurance. Classic cars have different needs than standard, modern automobiles do. Without proper insurance, you would be leaving yourself with inadequate coverages and an insufficient value on your classic car which can lead to extreme out of pocket expenses. With the protection of classic car insurance, you'll have peace of mind to enjoy your vehicle.

Do I Qualify For Classic Car Insurance?

Some requirements to qualify for classic car insurance include having a minimum of 10 years driving experience, no serious driving convictions in the last three years, own a classic car that is 25 years old preferably and that is used for pleasure only with 5,000 kilometres of driving each year (higher mileage can be considered). Most classic and antique vehicles are insurable, however, there are certain restrictions. Some vehicles may not be eligible, such as those used for racing or cars heavily modified with extreme horsepower. An insurance broker can provide you with more information on this, and help you get the car insurance right for you.

What Is Considered A Classic Car?

A classic car is generally a vehicle manufactured in 1995 or earlier. However, some insurance companies will consider newer vehicles for classic car insurance based on their collectible or classic nature. Cars, trucks, and other vehicles can be considered classics. Your best bet is to contact an insurance broker who will help determine if you need classic car insurance.

Collector Car Insurance - Morison Insurance - Ontario

How Does Classic Car Insurance Work?

Classic car insurance protects you and your antique car in the event of a claim. Classic car insurance provides liability coverage, accident benefits coverage, collision and comprehensive coverage. In Ontario, it is mandatory that all drivers have car insurance on every vehicle that is driven.

What Is The Difference Between Classic Car Insurance And Normal Auto Insurance?

With classic car insurance, you can get same insurance coverage provided in a standard auto insurance policy, plus you will have added benefits including:

  • A guaranteed insured value for your vehicle.
  • A lower premium for classic car insurance.
  • Service from an insurance broker who can get you coverage from an insurance company specializing in classic cars. Both the broker and the insurance company understand the importance of insuring your collector, vintage or antique vehicle.
  • Claims service from experts who know classic and antique vehicles, are well educated in the classic and antique vehicle industry, and appreciate how important your vehicle is to you.

How Much Does Classic Car Insurance Cost?

The cost of classic car insurance is typically much less than standard auto insurance – more than 40% less in some cases. You may pay as little as $150 to $900 approximately per year. The cost of classic car insurance depends on factors such as the vehicle's value and the number of vehicles you want to insure. Speak with an insurance broker who will provide you with multiple quotes to determine the cost of your classic car insurance.

Vintage Car Insurance - Morison Insurance - Ontario

What Does Classic Car Insurance Cover?

Classic car insurance provides the same coverages as a standard auto insurance policy like liability coverage, accident benefits coverage, collision and comprehensive coverage, however, classic car insurance will also address the needs and value of your classic car. These additional coverages include agreed-value protection, flatbed roadside assistance protection and flexible usage protection.

Agreed-Value Protection

When you tell the insurance broker the value of your classic vehicle, the insurance company will confirm the value is accurate and fair.  The insurer will then agree to a guaranteed value. The agreed-upon amount will be paid to you in case of a total loss.

Flatbed Roadside Assistance Protection

Flatbed roadside assistance is a coverage option available to provide guaranteed flatbed roadside assistance when needed in the event of a claim. Using the flatbed towing method for your classic car reduces stress and increased risk of damage on your classic vehicle. You have peace of mind knowing your classic car will be taken care of in the best way possible when an unpredictable situation occurs.

Flexible Usage Protection

Classic and collector cars should be driven to be fully enjoyed! An insurance broker can tailor your classic car insurance policy to meet your specific driving uses and needs.

Classic Car Insurance - Morison Insurance - Ontario

The Insurance Bureau of Canada has more details on classic car coverage.

What Does Classic Car Insurance Not Cover?

There are some limitations on classic car insurance, such as vehicles used for commercial purposes, racing or off-road uses, or highly customized cars. Speak with an insurance broker who will help determine if your collector car will qualify for classic car insurance.

Can You Get Full Coverage On A Classic Car?

Yes. You can get full insurance coverage for eligible classic or antique vehicles. An insurance broker who provides classic or antique car insurance can get you several competitive quotes to get you insured.

Where Can I Buy Classic Car Insurance?

You can buy classic car insurance from Morison Insurance. Our classic car insurance experts can help provide you with coverage to ensure your vehicle is properly protected. Get started today by calling 1-800-463-8074 or by filling out the form on our website. You will be glad you did!


This content is written by our Morison Insurance team. It is provided for general information only. Insurance needs differ from person to person, and this article is therefore not a substitute for professional advice about your individual insurance needs which can be obtained by speaking to one of our brokers.

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