How much is classic car insurance in Ontario?

Classic car insurance in Ontario starts as low as $300 a year. On average, most policies tend to cost $600 – $800 annually but the price can be higher depending on the vehicle. Your premium will depend on a number of factors that are unique to you and the value of the classic car you want to insure.

Can you insure a classic car as a daily driver?

Classic car insurance only provides coverage for pleasure or leisure use of the vehicle. Insurance companies providing classic car coverage require proof that you own and have insured another vehicle that you use as a daily driver. If you want to use your vintage ride as a daily driver, you’ll need regular or standard auto insurance.

How old does a vehicle have to be to qualify for classic car insurance?

This varies between classic car insurers, but generally speaking vehicles need to be at least 20 years old to qualify for classic car insurance. Some insurance companies will cover vehicles that are newer than that if they are considered highly collectible or have limited-edition status. An insurance broker can help determine which types of insurance your prized vintage automobile is eligible for.

Is an appraisal needed to get classic car insurance?

In most cases, appraisals are not required. That being said, because of the time and money you’ve invested in your prized ride, it may be worthwhile to still get an expert appraisal done to assess its value. You may be able to use this to protect your car based on Agreed Value Coverage, providing extra peace of mind in the amount it’s insured for.

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Q: Does my vehicle qualify for classic car insurance?

To qualify for classic car coverage, your vintage beauty needs to meet a few requirements. Some insurers may have slightly different rules, but generally:Age – We can insure vehicles that are newer that 20 years old so long as they are collectible in some way. This usually means limited production models or cars that the insurers just seem to deem collectible. Examples would commonly include things like Porsches, Corvettes and even small convertibles like Audi TTs and Mazda MX5s. They are even now getting into pickup trucks. Other insurers define classics as 1948 models and earlier, and vehicles older than that may be called vintage or antique.Usage – In Ontario, your classic vehicle should be for limited pleasure use in the summer and not driven in the winter. It shouldn’t be the car you drive every day to get to work and run errands. Some insurers have annual kilometre limits.Storage – Insurers expect that your collector car will be put away and kept indoors for the winter. This helps reduce the risk of damage and maintains the value of the vehicle.

Q: How is classic car insurance different from standard car insurance?

Unlike standard auto insurance, which is based on the declining value of a car, coverage for a collectible car needs to consider the possible appreciation in its value as well as replacement value.Classic car insurance is also intended for limited pleasure or leisure use. This vehicle is not the car you drive every day. Some insurers only allow a limit of 5,000 kilometres of driving each year.

Great Rates for Classic Car Coverage in Canada

If you own an antique or collector vehicle, you know it holds its value over time—unlike most cars that depreciate. That’s why classic car insurance exists. We’ll help you protect the full value of your vehicle, often without requiring an appraisal, and you can save on premiums if your vintage ride isn’t for daily use.

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We Insure All Kinds of Antique, Vintage, and Collector Vehicles

No matter what kind of classic you drive, we’ll help you protect your treasure with excellent coverage.

Classic Cars

From a timeless Bel Air to Carroll Shelby’s legendary Cobra, we’ll make sure your classic is fully covered.

Hot Rods, Replicas & Modified Vehicles

Own a custom or vintage modification? We’ll insure it for its true value.

Classic Trucks

Whether it’s a Lil’ Red Express, Chevy Cameo, or Jeep Scrambler, we’ve got you covered.

Retired Commercial Vehicles

Restored a ’25 Morris Cowley or a vintage ice cream truck? We’ll help protect your one-of-a-kind ride.

Collector Trailers & Campers

From iconic Airstreams to teardrop campers, we offer excellent coverage options.

Classic Military Vehicles

Passionate about history? We provide coverage for retired army vehicles like the Dodge WC52 or Bantam Jeep.

Antique Tractors

Insure your Massey Ferguson and other vintage farm equipment for their full appraised value.

Classic Motorcycles

From a vintage Ducati to other collector bikes, we’ll make sure your motorcycle is protected for what it’s really worth.

Frequently Asked Questions About Classic Car Insurance

How much does classic car insurance cost in Canada?

Classic car insurance can start as low as $300 a year. On average, most policies range from $600 to $800 annually, though the cost may be higher depending on your vehicle and personal circumstances. Your premium will be influenced by factors such as the car’s value, usage, and your driving profile.

Can I insure a classic car as a daily driver?

Classic car insurance is intended for pleasure or leisure use only. To qualify, you’ll need to show proof of ownership and insurance for another vehicle that serves as your daily driver. If you want to use your classic as an everyday car, you’ll need standard auto insurance instead.

How old does a vehicle need to be for classic car insurance?

This depends on the insurer. In most cases, vehicles need to be at least 20 years old. However, certain collectible or limited-edition vehicles may qualify even if they’re newer. A broker can help you determine whether your car is eligible.

Does my vehicle qualify for classic car insurance?

Requirements vary by insurer, but generally include:

Age: Many insurers accept vehicles 20+ years old, though some consider newer limited-production models (like Porsches, Corvettes, or Audi TTs) as collectible.
Usage: Classic cars should be used seasonally for pleasure, not as daily drivers. Some insurers apply annual mileage limits.
Storage: Collectible cars are expected to be stored indoors, especially during the winter months, to help preserve their value and reduce risks.

How is classic car insurance different from standard car insurance?

Standard car insurance is based on a vehicle’s depreciating market value. Classic car coverage, by contrast, often considers the potential for appreciation and is designed to protect collectible vehicles based on their agreed or appraised value. It also comes with restrictions, such as limited annual mileage.

Is an appraisal required to get classic car insurance?

In many cases, no appraisal is needed. However, getting an expert appraisal can provide peace of mind and help you secure Agreed Value Coverage—ensuring your car is insured for its true worth, not just a depreciated amount.

As a brokerage working with over 70 of Canada’s leading insurance companies, we provide access to a wide range of coverage options at some of the most competitive rates in the country. Want to explore the solutions available to you? Here are just a few examples.

As a brokerage for over 70 of Canada’s top insurance companies, we have access to a wide range of insurance solutions at some of the best rates in Ontario. Want to learn more about the coverage options available to you? Here’s a few of them.