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Chicago Classic & Collector Car Insurance

Classic red muscle car in Chicago
Agreed Value Specialists

Guaranteed Value Protection for Your Passion

0% Depreciation. 100% Peace of Mind. Insurance built by enthusiasts who know the difference between a 1967 Mustang Fastback and a used Camry.

The Stated Value Trap

Why Standard Insurers Get It Wrong

Most standard insurers use "Stated Value" policies for classics. Here's the trap: they pay the lesser of your stated limit OR the actual cash value at the time of loss. Your $50,000 '69 Camaro could net you $32,000 after their depreciation formulas.

We use Agreed Value—the only approach that makes sense for collector vehicles. If your car is insured for $50,000, you get a check for $50,000. Period. No negotiations, no depreciation games.

Collector Coverage Essentials

  • Agreed Value (No Depreciation)
  • Spare Parts & Tools ($500+ Included)
  • Cherished Salvage (Keep Totaled Car)
  • Trip Interruption (Show Breakdown)
  • Pet Passenger Coverage
  • Restoration Coverage (Increasing Value)
Get Your Agreed Value Quote

Built for the Hobby

Restoration Projects

"Vehicle Under Construction" coverage that automatically increases your insured value by 10% quarterly as you restore it. Your investment grows—your coverage grows with it.

Flexible Usage

Drive to work occasionally? Want a "Sunday Cruise"? We offer policies with no fixed mileage limits—unlike the strict "Parade Only" rules of the past. Real coverage for how you actually enjoy your car.

The Chicago Garage Rule

Let's be honest: Most carriers require a fully enclosed, locked garage. Carports or "gangway" parking common in Chicago neighborhoods usually don't qualify for collector rates. We'll tell you upfront.

Illinois Antique Plates vs. Insurance

Vintage car with Illinois antique plates

Understanding Your Plate Options

Illinois offers two types of Antique Vehicle plates, and there's constant confusion about what each allows. Here's the straight answer:

Standard Antique Plates
Driving restricted to car shows, parades, and club activities only. Cheapest registration option.
Expanded-Use Antique
Drive freely March through November with no restrictions. Year-round pleasure use.
Our Insurance Works With Both
Standard IL plates (cheaper registration) or regular plates—your choice.
No Emissions Testing
Vehicles 25+ years old are exempt from Illinois emissions requirements.

What Qualifies as a "Collector" Vehicle?

It's Not Just 1960s Muscle Cars

Many enthusiasts assume collector insurance is only for pre-war antiques or Detroit muscle. The reality? The hobby has evolved dramatically, and so has collector coverage.

We Insure

  • Modern Classics: Miatas, S2000s, air-cooled 911s, E30 BMWs—the future collectibles.
  • Modified & Tuners: Supras, Skylines, built imports with documented modifications.
  • Military Vehicles: Jeeps, Deuce-and-a-halfs, restored military surplus.
  • Antique Tractors: John Deere, Farmall, and other agricultural collectibles.

Typical Eligibility Requirements

Vehicle Age: Generally 15-25+ years depending on the carrier and vehicle type. Modern classics (under 15 years) may qualify based on limited production or collectible status.

Primary Vehicle Requirement: You must own a regular "daily driver" insured separately. The collector car cannot be your only transportation.

Storage: Enclosed, locked garage required. No street parking, carports, or open storage.

Protecting the Investment

Additional Protection Options

  • Diminished Value Coverage
  • Automobilia (Gas Pumps/Signs)
  • Disaster Relocation Reimbursement
  • Car Club Liability Discounts

Cherished Salvage Explained

Standard Insurance: If your car is totaled, the insurance company takes it and sells it to a salvage yard. Gone forever.

Cherished Salvage: You receive your full Agreed Value payout AND keep the vehicle. Perfect for rare parts, sentimental value, or rebuilding a car that's one-of-a-kind.

Why Not Add It to My Regular Auto Policy?

Big Mistake. Here's Why.

Adding a classic to a standard Geico/Allstate/State Farm policy often means you're paying "daily driver" liability rates on a car you drive 500 miles a year. That's expensive and unnecessary.

Standalone = Often 60% Cheaper Agreed Value (Not ACV) Specialist Claims Adjusters

Plus: Standard policies use Actual Cash Value (ACV) depreciation. A 1972 Corvette isn't a "50-year-old used car"—it's an appreciating asset that deserves proper valuation.

Real Cost Comparison

  • Standard Policy Add-On: $800-1,200/year
  • Standalone Collector: $300-500/year
  • Agreed Value guarantee included
  • OEM parts, not aftermarket

Specialty Vehicle Coverage

Exotics & Supercars

Ferrari, Lamborghini, McLaren—high-value exotics with specialized repair networks and valuation expertise.

Restomods & Customs

Pro-touring builds, LS swaps, and custom fabrication—valued based on actual build cost and market comparables.

Concours & Show Cars

Frame-off restorations, trailer queens, and museum-quality vehicles with professional appraisals.

Collector Car Questions

This is the most important question in collector car insurance. Agreed Value means you and the insurer agree upfront on the car's worth—if it's totaled, you get that exact amount, guaranteed. Stated Value is a trap: the insurer pays the lesser of your stated amount OR the actual cash value (their depreciation calculation). With Stated Value, your $50,000 classic could pay out only $32,000. We only write Agreed Value policies.

Occasional "pleasure use" that includes driving to work on a nice day is typically fine with most collector policies. However, your classic cannot be your daily commuter vehicle—you must have a separate daily driver insured on a standard auto policy. The key is "occasional" vs. "regular" use. We'll help you find carriers with the most flexible usage terms.

Usually no—for most collector vehicles under $100,000, photos and documentation of the car's condition are sufficient to establish an Agreed Value. Professional appraisals are typically required only for extremely high-value vehicles ($150K+), rare customs, or heavily modified builds where standard valuation guides don't apply. We'll tell you if an appraisal is needed.

The vehicle must be stored in a fully enclosed, locked garage—this is non-negotiable with virtually all collector carriers. In Chicago, this means your detached garage with a door, attached garage, or a rented storage unit. Carports, tarps, "gangway" parking between buildings, or street parking do not qualify. If your storage situation is borderline, contact us to discuss options before applying.

We recommend reviewing your Agreed Value annually, especially in today's hot collector market. Many of our policies include automatic "Inflation Guard" increases of 2-4% per year. If your car has appreciated significantly (market conditions, restoration completion), contact us to adjust your coverage. Being underinsured on a rising asset defeats the purpose of Agreed Value protection.

Yes—restomods, pro-touring builds, engine swaps, and custom fabrication are all insurable. The key is documentation: keep receipts, photos of the build process, and records of professional work. Modifications actually increase your Agreed Value when properly documented. We work with carriers who specialize in custom and modified vehicles and understand their true worth.

With standard insurance, if your car is totaled, the insurance company takes ownership and sells it to a salvage yard. Cherished Salvage lets you receive your full Agreed Value payout AND keep the vehicle. This matters for rare cars with irreplaceable parts, vehicles with deep sentimental value, or situations where you want to rebuild a one-of-a-kind machine.

It depends on the carrier and the specific vehicle. Generally, cars 15-25 years old qualify based on age alone. However, limited production vehicles, special editions, and documented collectibles can qualify regardless of age—a 2015 Dodge Challenger Hellcat or a low-production Porsche GT car may be eligible. We evaluate each vehicle individually.

Standard collector policies exclude racing and competitive track use. However, some carriers offer "Track Day" endorsements for HPDE (High Performance Driving Education) events and non-competitive lapping sessions. If you plan to do Autobahn Country Club or Blackhawk Farms events, let us know—we can find appropriate coverage.

Absolutely. "Vehicle Under Construction" or "Restoration" coverage protects your project car and automatically increases the insured value as you add parts and complete work—typically 10% quarterly. This is essential protection given how much money flows into a restoration. Document your purchases and progress photos to support increasing values.

Protect Your Passion Project

Agreed Value coverage from specialists who understand what makes your car special—not just "old."

(224) 616-9430 Get Your Agreed Value Quote

Serving Chicago Collectors from 3945 W Devon Avenue