Old vs. Classic: How to Know if Your Old Car Is Considered Classic
It is hard to say how old a car has to be to be considered a classic for auto insurance, but most people agree that classic cars are at least 20 years old. Auto insurance companies like Safeco say that cars should be at least 10 years old to be considered a classic, but states tend to include much older cars in their metrics. No matter how old your car is, the Internal Revenue Service will collect taxes if you sell it or allow you to deduct taxes if you give it to a charity.
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Chris Abrams
Licensed Insurance Agent
Chris is the founder of Abrams Insurance Solutions and Marcan Insurance, which provide personal financial analysis and planning services for families and small businesses across the U.S. His companies represent nearly 100 of the top-rated insurance companies. Chris has been a licensed insurance agent since 2009 and has active insurance licenses in all 50 U.S. states and D.C. Chris works tireles...
Licensed Insurance Agent
UPDATED: Jul 23, 2024
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Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Jul 23, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our auto insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different auto insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- Auto insurance companies, states, and car enthusiast organizations have different metrics for how old a car must be before it is considered a classic
- Most sources agree that cars should be at least 20 years old to be deemed classic vehicles
- Depending on the age or value of your classic car, you may need to pay sales taxes, registration fees, and capital gains taxes
How old does a car have to be to be considered a classic for insurance or other purposes? Also, when does a car become a classic for tax purposes?
Answers will vary depending on the source. In some cases, your car only needs to be at least 10 years old and contain parts that deem it a collectible.
Auto insurance companies define what makes a car a classic. This distinction dictates which auto insurance coverages they offer for certain cars. States also have different specifications for a classic car, and certain car clubs and associates have their metrics.
Read on to discover how old your car should be for consideration as a classic and compare requirements from top auto insurance companies. However, if you want to see rates from top auto insurance companies in your area right now, you can enter your ZIP code into our free quote tool above.
Understanding the Nuances of Classic Car Insurance
When evaluating classic car insurance vs. regular, it’s essential to understand the distinct advantages that classic car policies offer. Unlike standard auto insurance, classic car insurance in Washington state is tailored to meet the specific needs of vintage vehicle owners, including agreed value coverage and flexible usage terms.
American National offers collector car insurance that takes into account the unique value and usage of classic cars. State Farm also provides specialized collector car insurance plans.
Moreover, comparing classic insurance options can help owners find the best coverage for their prized possessions, ensuring they are protected during shows, parades, and limited drives. In states like Washington and Massachusetts, antique and collector car owners have access to a variety of insurance options.
Antique car insurance in Washington state and antique car insurance in Massachusetts often include coverage for restoration and storage, vital for preserving the car’s value. Providers such as JC Taylor classic car insurance offer comprehensive plans, including classic car appraisal in Massachusetts, to determine the accurate value of a vehicle.
Meanwhile, collector car insurance in Washington state from firms like Assurant classic car insurance and Connecticut classic car insurance ensures that enthusiasts across the nation can find tailored policies that reflect the unique nature of their vehicles.
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Navigating the World of Classic Car Insurance
Determining the right coverage for your vintage vehicle starts with understanding the classic car classification and the specific requirements of classic car insurance. In Seattle, obtaining a classic car appraisal is a crucial first step to accurately value your vehicle.
Once appraised, you can explore a list of classic car insurance companies to find the best fit. Companies like JC Taylor classic insurance and Progressive car insurance collector offer tailored policies that consider the unique needs of classic car owners.
The minimum age for classic car insurance typically varies, but generally, a car must be at least 20-30 years old to qualify. So, is a 30-year-old car a classic? In most cases, yes, it is considered a classic and eligible for specialized insurance.
For young enthusiasts, finding classic car insurance for a 20-year-old vehicle can be challenging but not impossible. In states like Maryland, Georgia, and Indiana, insurance providers offer various options.
Classic car insurance in Maryland and classic auto insurance in Indiana cater to the specific regulations of each state, ensuring that vehicles are adequately protected. Meanwhile, classic car insurance in Georgia offers coverage options that take into account the unique driving conditions and risks of the region.
Comparing policies is essential; a thorough classic car insurance comparison can help you find the best deal. Providers such as JC Taylor antique car insurance is renowned for their comprehensive coverage options, making them a go-to for many classic car enthusiasts.
Generally, how old does a car have to be for consideration as a classic?
That is a difficult question to answer since the definition can vary wildly among companies and organizations. In general, a car should be at least 20 years old to be considered a classic, but states and car associations may also consider the era. For example:
- Car insurance companies like State Farm offer classic auto insurance for collector cars aged 10 years or older.
- A state like Connecticut defines classic cars as those that are at least 20 years old. Florida and Washington recognize 30-year-old cars as classic or collectible.
- The Classic Car Club of America refers to cars produced from 1915-1948 as Full Classics. The Antique Automobile Club relies heavily on this definition for its classification of collector cars.
Now, how old does a car have to be for consideration as a classic for insurance? Read on to discover the different metrics among auto insurance companies.
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How old must a car be for consideration as a classic for an auto insurance company?
When choosing an auto insurance company to cover an older and restored vehicle, you may have to ask, “How old must my car be to be considered a classic?” Some car insurance companies may tell you up-front, likely on their websites.
To assist you, we have a handy list of companies that insure classic cars and clearly define how old a car should be to be considered a classic.
Auto Insurance Companies that Offer Extended Warranties
| Company | Overall Rating | Customer Service Rating |
|---|---|---|
| autopom! | 4.2 | 4.1 |
| CARCHEX | 4.4 | 3.2 |
| CarShield | 4.2 | 3.6 |
| Endurance | 4.6 | 4.5 |
| Olive | 4.2 | 3.8 |
| Protect My Car | 4.0 | 4.5 |
Safeco considers cars younger than 10 years old modern classics and antiques to be at least 25 years old. Also, State Farm defines antiques as cars that are at least 25 years old.
Other Auto Insurance Companies That Offer Classic Car Insurance
There are a few companies that do not appear in the table above. They include AAA, American Modern, American National, Auto-Owners Insurance, Farmers Insurance, Hagerty, J.C. Taylor, and Leland-West.
AAA, American Modern, American National, Auto-Owners Insurance, and Farmers Insurance do not specify on their websites how old a car must be to be considered a classic.
Hagerty offers classic and collector auto insurance for cars that were produced in 1979 or before. Hagerty partners with Allstate, Esurance, the Hartford auto insurance, Nationwide, and Progressive to provide their customers with classic auto insurance coverage.
- Allstate and Hagerty share similar requirements for what makes a classic car.
- Geico, which is flexible concerning what it considers a classic, also partners with Assurant for classic auto insurance coverage.
- Progressive acknowledges that classics might be 20-25 years old, but it is flexible with its specifications. The definition of a classic car depends on the state where you reside.
J.C. Taylor underwrites classic and antique auto insurance for 21st Century Insurance. However, the former does not disclose on its website what makes a car classic.
Leland-West is flexible regarding what it considers a classic car. It acknowledges that some may consider a 20-year-old collectible car a classic, while antiques should be at least 45 years old. However, Leland-West defines an antique car as one that is at least 25 years old.
How old must a car be to be considered classic for tax purposes?
That is a question with a multi-layered answer. For one thing, your car’s age will dictate how much you pay in state registration fees and sales taxes. The IRS treats classic cars a little differently.
State Examples for License Plate Registration
States define differently what makes a vintage, historic, or classic car. For example:
Arizona specifies a historic vehicle as one that is at least 25 years old. The state also requires historic car owners to pay an initial $25 fee and $10 for annual renewal.
Arkansas defines classic cars as those that are at least 45 years old. In 2019, the state shifted its definition from cars that were at least 25 years old.
Classic car owners in Arkansas can register license plates with the classic car designation for $7. Also, they are exempt from annual registration fees and taxes.
In Connecticut, classic cars must be at least 20 years old. If you want to replace an Early American style plate with a Classic Vehicle plate, you will pay a $27 fee. Your initial registration fee for a classic license plate is $47.
You will also pay a registration fee in Connecticut. However, it is prorated based on the amount of time you have left on your current registration. If you want to order a vanity plate with a Classic Vehicle design, you will pay a $96 fee.
Sales Tax
If you buy or sell a classic car, you will need to pay taxes on that transaction based on the car’s ultimate destination.
For example, if you are in Washington State and buy the car from another resident in the state, you will pay Washington State sales tax. If you have the car shipped from Washington to Texas, you will pay Texas sales tax.
Other State Taxes
In some states, you may be exempt from paying additional taxes for owning a classic vehicle. For example, California has numerous exemptions, including gifts, a simple title change, and inheritance. However, you may need to pay federal taxes on some of those transactions.
Federal Taxes
The Internal Revenue Service does not expressly define what makes a car a classic, but it considers the car’s total worth. Note that the IRS does not appraise your vehicle, so you will need to handle that yourself.
That said, if you sell a classic car, you will likely pay a 28% capital gains tax. However, you can deduct some of the expenses you incurred to restore and sell the car.
The IRS will also need to know the car’s value if you donate it to a charity. If the transaction is legitimate, you can deduct the value of the car from your income taxes.
How old must a car be to be considered a classic for auto insurance? What is the Final Word?
Your classic car has value and not merely sentimental value.
- If your primary concern is auto insurance, be aware of how an auto insurance company defines a classic vehicle. Also, ascertain whether or not they offer either full auto insurance coverage or storage auto insurance for vehicles.
- You should also be aware of how old your car must be to be considered a classic in your state. Not only does it determine how much you will pay in applicable fees and taxes, but it may come in handy when you choose an auto insurance company.
- The value of your car can affect your federal tax rates.
Ultimately, have the car appraised by a professional appraiser or use an appraisal service like Kelley Blue Book. Discovering the value of your car is beneficial in all three scenarios.
Now that you know more about how old a car must be to be considered a classic, for auto insurance and other purposes, would you like to see rates from top auto insurance companies in your area? If so, enter your ZIP code into our free quote tool and get started.
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Frequently Asked Questions
Are there any specific qualifications for a car to be classified as a classic?
While the age of the vehicle is an important factor, there are other qualifications to consider. These can include factors such as the rarity of the car, its originality, its condition, and any historical or cultural significance it may have. Some classic car organizations or clubs may have specific criteria that must be met as well.
What benefits are there to owning a classic car?
Owning a classic car can have several benefits, including:
- Appreciation in value over time: Well-maintained classic cars can increase in value, making them a potential investment.
- Historic and cultural significance: Classic cars often have a rich history and cultural significance, allowing owners to connect with the past and showcase a piece of automotive heritage.
- Unique style and craftsmanship: Classic cars often feature timeless designs and superior craftsmanship, providing a one-of-a-kind driving experience.
- Membership in classic car communities: Owning a classic car can open doors to various clubs, events, and gatherings where you can meet other enthusiasts and share your passion.
What are the potential drawbacks of owning a classic car?
While owning a classic car can be rewarding, it also comes with some drawbacks, including:
- Higher maintenance costs: Classic cars may require specialized parts and maintenance, which can be more expensive than for modern vehicles.
- Limited availability of spare parts: Finding replacement parts for classic cars can be challenging, especially for rare or discontinued models.
- Increased insurance costs: Insuring a classic car may be more expensive than insuring a regular vehicle due to the higher value and potential risks associated with older cars.
- Limited daily use: Some classic car insurance policies restrict the usage of the vehicle to prevent excessive wear and tear, limiting its everyday practicality.
Can I use my classic car as my primary mode of transportation?
While it is possible to use a classic car as your primary mode of transportation, it may not always be practical or advisable. Classic cars are often more suitable for occasional use, such as for leisurely drives, car shows, or special events. Additionally, some classic car insurance policies impose restrictions on daily usage to preserve the vehicle’s condition and value. It is important to consider the potential drawbacks, such as higher maintenance costs and limited availability of parts, before relying on a classic car as your main means of transportation.
Is my car a classic?
If your car is over 20 years old, it is likely considered a classic.
When is a car a classic for insurance?
A car is a classic for insurance purposes when it is at least 20 years old and meets specific criteria set by insurers.
When is a car considered a classic?
A car is considered a classic when it is generally 20 to 40 years old and has historical interest.
What year car is considered a classic?
Cars from the year 2004 and earlier are typically considered classic in 2024.
Does State Farm offer collector car insurance?
Yes, State Farm offers collector car insurance.
What is considered a classic car?
A classic car is one that is between 20 to 40 years old, maintained or restored to good condition.
What age can you get classic car insurance?
You can get classic car insurance for a car that is typically at least 20 years old.
What defines a classic car?
A classic car is defined by its age, typically 20 to 40 years old, and its historical or collectible value.
When does a car become a classic for insurance?
A car becomes a classic for insurance when it is at least 20 years old and meets the insurer’s specific criteria.
How old is a classic car?
A classic car is generally considered to be between 20 and 40 years old.
Are classic cars exempt from inheritance tax?
No, classic cars are not typically exempt from inheritance tax.
What year of car is considered a classic?
In 2024, cars from the year 2004 and earlier are considered classic.
Yes, a 30-year-old car is considered a classic.
Are classic cars cheaper to insure?
Classic cars are often cheaper to insure due to their limited use and well-maintained condition.
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Chris Abrams
Licensed Insurance Agent
Chris is the founder of Abrams Insurance Solutions and Marcan Insurance, which provide personal financial analysis and planning services for families and small businesses across the U.S. His companies represent nearly 100 of the top-rated insurance companies. Chris has been a licensed insurance agent since 2009 and has active insurance licenses in all 50 U.S. states and D.C. Chris works tireles...
Licensed Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.