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Agreed value for a car that is worth more than the book says.
A standard policy pays the actual cash value of a car, which can be far below what a classic is worth. Collector policies use an agreed value set when the policy starts, so you know what you will be paid after a total loss.
In exchange, collector insurers usually limit how you use the car: pleasure driving and shows rather than commuting, secure storage, and another vehicle for daily use. Premiums are often lower than a standard policy because these cars are driven less and cared for.
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Who it’s for
Coverage
A value agreed up front, often supported by an appraisal.
Liability and accident benefits for pleasure use.
Some policies cover spare parts and restoration tools.
Coverage while a car is being restored.
Before you buy
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Every request is matched with an advisor licensed in your province who compares insurers for you, explains the fine print and handles the application. No cost to you and no obligation to buy.
Learn before you buy
There is no official national average. The latest official figures put Ontario at $2,164 a year, Alberta at $1,903 and British Columbia at $1,358 for Basic and Optional coverage, each measured its own way. Here are all 13 provinces and territories and 15 cities compared.
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