Classic Car Insurance in Ontario
Preserve Your Investment with Classic Car Insurance
Owning a classic car is about passion, craftsmanship, and preserving history. Whether it’s a restored muscle car, a rare collectible, or a vintage European model, these vehicles deserve specialized protection—not just standard auto insurance.
At Affiliated Insurance, we offer classic car insurance in Ontario designed for enthusiasts, collectors, and restoration specialists. With over 120 years of experience, we understand the true value of your vehicle and ensure it’s protected for the road, storage, and exhibitions.
Get a QuoteWhy Ontario Classic Car Owners Choose Affiliated Insurance
- Agreed Value Protection: In the event of a total loss, you receive the full insured value of your classic car—no depreciation, no unexpected deductions.
- Coverage Designed for Real Car Enthusiasts: Enjoy your vehicle without restrictions on pleasure driving. Attend car shows, weekend cruises, and exhibitions without worrying about mileage caps.
- Expert Claims Handling for Classic Vehicles: Classic cars require specialized repairs. Our claims team works with top restoration shops to ensure your car is restored properly using original parts.
- Affordable Protection for Collector Cars: Classic cars are driven less, meaning insurance costs are often lower than standard auto policies. We help secure competitive rates for owners.
- 24/7 Access Through Our Online Portal: Easily manage your policy, submit claims, update coverage, and review documents anytime with our online self-service portal.
Mandatory Coverages for Classic Cars in Ontario
In Ontario, classic car owners must carry mandatory auto insurance just like any other vehicle on the road. These mandatory coverages ensure legal compliance and financial protection:
- Uninsured Automobile Coverage: Ensures financial protection if you are involved in an accident with an uninsured or hit-and-run driver.
- Direct Compensation – Property Damage (DCPD) (Optional as of 2024): Previously mandatory, this coverage allows you to claim vehicle damage directly from your insurer when another driver is at fault. Ontario drivers now have the option to opt out of DCPD to lower their premiums, but doing so means their insurer will not cover repairs if another driver is responsible for the accident.
- Third-Party Liability Coverage: Protects you if you are responsible for causing injury or property damage in an accident. A minimum of $200,000 is required, but higher limits are recommended.
- Accident Benefits Coverage: Provides medical care, rehabilitation, and income replacement if you or your passengers are injured in a collision.
Optional Classic Car Insurance Coverages
While Ontario law requires certain coverages, many classic car owners choose additional protection to safeguard their investment. These non-mandatory coverages provide financial security for unexpected events:
- Collision Coverage: Pays for repairs or replacement if your classic car is damaged in an accident, regardless of fault.
- Comprehensive Coverage: Protects against theft, vandalism, fire, weather damage, and other non-collision incidents.
- Specified Perils Coverage: Covers only named risks, such as fire, theft, or weather-related damage, offering a cost-effective alternative to comprehensive coverage.
- All Perils Coverage: A combination of collision and comprehensive, offering the broadest level of protection for your classic car.
For collectors and enthusiasts, these additional coverages ensure that restoration costs, rare parts, and long-term value are fully protected.
Classic Car Insurance Endorsements in Ontario
Endorsements allow you to customize your classic car insurance policy with extra protection suited to your needs. Popular endorsements include:
- Agreed Value Coverage: Ensures you receive a pre-determined payout for your classic car in case of a total loss, without depreciation.
- Loss of Use (OPCF 20): Covers rental car or transportation expenses while your classic car is being repaired after a covered claim.
- Waiver of Depreciation (OPCF 43): Prevents depreciation deductions if your classic car is written off due to an accident.
- Limited Mileage Discounts: Offers lower premiums for classic cars driven only on weekends, for exhibitions, or seasonally.
- Spare Parts Coverage: Protects rare or expensive parts that are essential for maintaining or restoring your classic vehicle.
Adding the right endorsements can provide enhanced financial security, ensuring your classic car remains well-protected no matter what happens.
Get a QuoteHow Much Does Classic Car Insurance Cost in Ontario?
Insurance rates for classic cars vary based on factors like vehicle value, usage, storage conditions, and driver history. On average, Ontario classic car owners pay between $300 and $1,000 per year for coverage.
Factors That Influence Pricing:
- Car Value and Rarity: Higher-value or rare collector vehicles may have higher premiums.
- Usage and Mileage: Cars used only for shows and occasional drives often cost less to insure.
- Storage and Security: Garage-kept vehicles with anti-theft systems may qualify for discounts.
- Driving Record: A clean driving history can help lower premiums.
Our team will compare rates from top insurers in Ontario to find the best coverage at the best price.
Types of Classic Cars Eligible for Insurance
- Vintage & Antique Cars: Vehicles over 25 years old, well-maintained, and used primarily for pleasure driving.
- Collector & Limited-Edition Models: Rare or historically significant vehicles with long-term value.
- Replica & Modified Classics: High-quality recreations or professionally restored vehicles with performance upgrades or custom features. Some modifications may require additional endorsements.
Storage Matters: Best Storage Practices for Classic Cars
- Climate-Controlled Garage: Extreme temperatures and humidity can cause rust, corrosion, and mechanical issues.
- Battery Maintenance: Disconnecting the battery or using a trickle charger prevents power drainage during long storage periods.
- Tire Care: Storing the car on jack stands or regularly rotating tires prevents flat spots.
- Fuel Stabilizers: Adding a fuel stabilizer prevents gasoline from deteriorating and damaging the engine.
Insurance providers often offer discounts for well-maintained, securely stored classic cars.
Classic Car Events and Insurance
Classic car owners often participate in events, shows, and exhibitions. These activities may require special insurance considerations.
- Event Liability Coverage: If your vehicle is displayed at a car show or event, liability coverage ensures you’re protected from potential claims.
- Transport Insurance: If you need to move your classic car to another city or province for an event, additional transit insurance provides protection against damages during transport.
- Extended Roadside Assistance: If you take long drives to shows, extended roadside assistance can cover unexpected breakdowns.
Affiliated Insurance helps classic car owners ensure their vehicles are covered during special events without restrictions.
Keeping Your Classic Car Protected
A classic car isn’t just about getting from point A to B—it’s craftsmanship, nostalgia, and the thrill of the open road. At Affiliated Insurance, we provide expert guidance, competitive rates, and claims support from specialists who know the true value of collector cars.
Get a QuoteFAQ
Regular auto insurance doesn’t account for a classic car’s collector value and often applies standard depreciation. Classic car insurance ensures you receive the full insured amount in case of a loss.
Classic car insurance is designed for pleasure use, including weekend drives and car shows.
Most insurers classify a vehicle as a classic if it’s at least 15 to 25 years old and maintained in good condition. Some policies also cover rare or limited-production modern collectibles.
Yes. Many classic car policies include coverage for custom upgrades, restorations, and aftermarket modifications, ensuring the full value of your enhancements is protected.
Most policies require that classic cars be stored in a locked garage, storage facility, or secure location when not in use to qualify for lower premiums.