In the USA, of course, we have 50 states and each with its own interpretation and designation of "classic" or antique vehicles. In some states, getting such a designation mandates a limited amount of mileage each year, or limited to club events, and similar limitations. Each state is different. For those that live in fair weather places, using an antique registered car for the occasional drive to work would technically not be allowed. It wouldn't much matter unless you were pulled over by Police for some reason, or had a crash--then the inquiries would open and you might have some explaining to do... ("I was just testing spark plugs! Honest!")
When I lived in Michigan, for the first 18 years or so of my Pagoda registration and ownership, I simply had a normal registration with classic car insurance. Note that the
insurance classification, and the
state registration classification are two distinct items. Then, at one point the State of Michigan raised the cost of registration of driver cars, so it then made sense to get an antique registration which then saved something like $200. Aside from the occasional pleasure drive (hardly pleasurable with the condition of the roads in Michigan) I was mostly using the Pagoda for club activities anyway.
Insurance costs in the USA are
all over the map. They take into account your exact location, the cost of parts and repairs, who is driving the car for what reason and how far, driver's record, and more. Unless you are one of the "actuaries" in the business doing the rate and risk setting you don't know why or how the rates are what they are. My wife and I drive similar cars underneath the skin. Mine is a small "ute" or pick up truck, and my wife has a small SUV. Both share a near identical hybrid powertrain. My truck is driven 2x the annual distance as my wife's car...yet the cost for insurance for her car is nearly double mine. Go figure. I cannot understand that.
The Pagoda here in NC with Hagerty was going to cost me $970/year. Agreed value of $110,000. With Grundy, it became about $630--a significant savings.
These are 12 months policies. Other well known insurance companies in this sector, such as American Collectors, and J.C. Taylor, would only write collision and comprehensive (not required by the state) but the state mandated insurance--that which you need in order to get your car registered--they won't do.
That would mean getting the Pagoda covered by two separate insurance companies, something I'd never heard of. I did check State Farm, and others that people throw out there, but none came close to my rates here. Daily driver insurance is through Erie, and nobody has been able to touch them either. I check annually.
Grundy and Hagerty both offer insurance that is inclusive of both state mandated insurance as well as the optional collision and comprehensive. And, an important detail, all my insurance for home and cars are 12 month policies. Many companies have changed to 6 month policies which then gives them twice the opportunity to raise rates.
