Yes, Liberty Mutual offers classic car insurance through a partnership with its subsidiary Sfeco for vintage and classic cars. Unlike a regular auto insurance policy, Liberty Mutual's classic car coverage is designed for vehicles that don't lose value over time. Cars over 25 years old that have some historical significance are usually included in the classic car category. As a specialized insurance provider, American Modern meets with you to determine the agreed value for your car before finalizing a policy.
The company will not insure classic cars that are used every day and requires that you have another regular-use vehicle that is insured to provide coverage for your classic car. In addition, Sfeco's classic car policies will not cover kit vehicles, restored cars with less than 50%, racing vehicles, or cars with nitrous oxide engines. You can cancel Liberty Mutual Gap insurance once your car is worth more than your loan or lease balance. Unlike many other classic car policies that set mileage restrictions, the Sfeco classic car insurance policy allows you to drive up to 10,000 miles a year, making it a great choice for powerful car owners who want to use their car regularly.
Liberty Mutual classic car insurance uses an agreed-upon value system, meaning that the car will be valued at a specific amount when you purchase the policy. American Modern entered the specialty insurance market in 1949 and therefore knows the ins and outs of insurance for classic cars, vintage cars and other collector vehicles. The amount of coverage you select for your belongings, liability and medical payments, the deductible, the location, the type of residence, and whether you combine your renters insurance with additional insurance policies influence the cost of renters insurance. Liberty Mutual is so cheap because it offers a wide variety of discounts and is the sixth largest insurer by market share, helping Liberty Mutual to keep prices competitive.
That's because Liberty Mutual offers special savings opportunities for drivers in this category, such as discounts for students who maintain a GPA of at least 3.0. While the exact rates vary depending on the specific features of your car, location and driving history, you're likely to spend several hundred dollars less per year on classic car insurance than you would with a standard insurance policy. We also compared the rates and discounts announced on each company's website, as well as data on car enthusiast websites, such as The Truth About Cars, Car and Driver, and more. Each company has slightly different eligibility rules for classic car insurance, so you can always check with another insurer if your vehicle doesn't qualify for a Liberty Mutual policy.