Classic and Antique Car Insurance in Illinois

A classic car on a regular auto policy is insured for what the carrier thinks an old used car is worth. For a restored convertible or a well-kept 1960s pickup, that can be far less than it would take to replace the car. A collector car policy starts from a value you and the carrier agree on, and it is written for how these cars are driven: a few thousand miles a year, shows and club drives, and a locked garage the rest of the time.

We write classic, antique, and collector cars for owners across Illinois, whether that means one weekend car in a Wilmette garage or several cars kept together. Three things decide whether the policy works: how the value is set, how the car is allowed to be driven, and where it is kept.

Agreed Value, Stated Value, or Actual Cash Value

This setting decides what a total loss pays, and the three terms sound more alike than they are.

Agreed value. You and the carrier settle the car’s value when the policy is written, usually backed by photos, receipts, or an appraisal. On a covered total loss, the policy pays that amount, with no depreciation taken.
Stated value. The policy lists a value but pays the lower of that figure or the car’s actual cash value at the time of the loss. It looks like agreed value on the declarations page, and it is not.
Actual cash value. What a regular auto policy pays: the carrier’s view of the car’s market value when it is lost, which for an older car can rest on used-car values rather than collector sales.

Collector values move, and restoration work moves them further. A car insured at what you paid for it five years ago may be underinsured today. We review the agreed value on a regular cadence and whenever work is done on the car, and some carriers can add an automatic increase in value during the policy term.

What a Collector Policy Expects of You

Collector policies are priced for cars that are driven little and kept safe, and they spell that out as conditions. The usual ones:

Limited use. Shows, club events, parades, and pleasure drives, not commuting or errands. Some carriers set a yearly mileage allowance; others limit how the car is used without counting miles.
Secure storage. A locked, enclosed garage or storage unit. A carport or the driveway usually does not qualify.
Another car for daily driving. Most carriers want each licensed driver in the household to have a regular vehicle for everyday use.
Driver history. Clean records for anyone who drives the collector car, and often a minimum age.

A claim that happens outside those conditions can be disputed. Tell us how you drive and store the car before the policy is written, so the conditions fit how you use it.

Illinois Antique Plates and Your Policy

Illinois offers two antique registrations, and each one limits driving in its own way.

Registration	When the car can be driven
Antique vehicle plates	Only to and from antique auto shows and exhibitions, or for servicing or demonstration
Expanded-use antique plates, for cars more than 25 years old or bona fide replicas	March 1 through November 30 without those limits. December through February, only for shows, exhibitions, servicing, or demonstration

The plate and the insurance policy are separate sets of rules, and you have to stay within both. Expanded-use plates allow ordinary driving from March through November, but a collector policy may still limit the car to pleasure use and events. If you plan to drive it more than that, tell us before the policy is written.

The plate rules are in the Illinois Vehicle Code, sections 3-804 and 3-804.01. Registration itself goes through the Illinois Secretary of State.

Winter Storage

Most classic cars around Chicago come off the road from late fall to spring, because road salt does more damage than miles do. The state’s expanded-use plates assume the same thing, with December through February limited to shows, exhibitions, and servicing.

Keep the policy in force while the car is put away. A stored car can still be lost to a garage fire, a break-in, or a leaking roof, and collector policies are written for cars that spend much of the year in storage.

Restoration Projects, Parts, and Transport

A car under restoration. Some carriers insure a project car at its current value and raise the value as work is finished and documented. Tell us before the car goes to a shop, because the shop’s own insurance may not cover your car the way you expect.
Spare parts. Parts stored apart from the car usually need their own limit on the collector policy.
Trailers, transport, and shows. Ask how the policy treats the car on a trailer, with a transport company, or on display before the trip, not after.
Towing. Many collector policies include flatbed towing, which matters for a car that should never be towed by its bumper.

Liability and Your Umbrella

A collector car is driven less, but it still carries passengers and still gets driven to crowded shows. Its liability limit should match your everyday auto policy. If you carry an umbrella policy, the collector car has to be listed on it and carry the underlying limit the umbrella requires, or the umbrella may not respond above it.

Common Questions

What counts as a classic car for insurance?

It depends on the carrier more than on a single model year. Cars 25 years or older are the usual starting point, and many carriers also write newer collectible, exotic, and limited-production cars when they are driven little and stored securely.

Is classic car insurance cheaper than regular car insurance?

Often, because the car is driven little and kept garaged, and the carrier prices for that. The premium still depends on the car, its agreed value, where it is stored, and who drives it.

What is the difference between agreed value and stated value?

On a covered total loss, agreed value pays the value you and the carrier set when the policy was written, with no depreciation. Stated value pays the lower of the listed value or the car’s actual cash value, so it can pay less than the number on the policy.

Can I drive a car with antique plates in Illinois?

Only in limited ways. Standard antique plates allow driving to and from antique auto shows and exhibitions, and for servicing or demonstration. Expanded-use antique plates lift those limits from March 1 through November 30 for cars more than 25 years old. Your collector policy may set its own use limits as well.

Can I drive my classic car to work?

Not on most collector car policies, which exclude commuting and routine errands. If the car will be driven regularly, tell us, and we will look at whether a collector policy still fits.

Does my homeowners policy cover the cars in my garage?

No. Homeowners policies exclude motor vehicles, and many also exclude their parts. The garage building is covered by the homeowners policy; the cars need their own policy.

Get a Classic Car Policy Reviewed

Send us the current declarations page, a few photos of the car, and any appraisal or restoration receipts, and tell us how you drive it and where it is kept. We will tell you whether the value on the policy would replace the car and whether the use limits fit how you drive it.

Call or text 847.242.1040, email hello@longmeadow.agency, or start a quote online.