Agreed value vs stated value — read this twice
Agreed value pays the number on the policy, period. 'Stated value' (common on standard auto policies) pays the LESSER of the stated amount or actual cash value — the insurer can depreciate your car at claim time. For a appreciating classic, agreed value through a specialty carrier is the only correct structure.
Related guides
Long-form playbooks on the same topic, written by the RevenueLab editorial team.
FAQ
How much does classic car insurance cost?
Typically 0.5–0.8% of agreed value per year — a $50,000 classic runs $250–400 annually with a specialty carrier, far less than standard auto. The tradeoffs: mileage limits (usually 1,000–5,000/yr), garaged storage, and no daily driving.
What qualifies as a classic car for insurance?
Generally 25+ model years old, though specialty carriers also cover modern classics and limited-production cars (90s Japanese icons, supercars). The car can't be your daily driver, must be garaged, and most carriers want every household driver to have a separate regular-use vehicle.
Is Hagerty the only option?
No — Grundy, American Collectors, J.C. Taylor, and Heacock all write agreed-value policies, and prices vary meaningfully. Quote at least three; also check whether your auto insurer's specialty division (Safeco, American Modern) is competitive for your usage.
How this calculator is built
Independently maintained
Written by Sam Doshi and the RevenueLab editorial team. We don't sell the data feeds this tool is built on.
Sourced from primary data
Benchmarks come from public AdSense / Stripe / IRS disclosures and reader-submitted data — never third-party "$X per view" claims. Full methodology.
Last editorial review
Reviewed on a rolling quarterly cycle. Dated reviews are published on the methodology record for each calculator.
Editorial standards
See our editorial policy and disclaimer. Results are estimates, not advice.