Classic Car Insurance Calculator

Agreed value coverage cost from vehicle value and usage.

About this calculator

This calculator estimates the cost of AGREED VALUE coverage, the collector-car insurance model where you and the insurer settle on a fixed payout amount up front rather than the depreciating "actual cash value" a standard auto policy pays out. Est. annual premium starts from a base rate applied to Agreed value ($), then layers on five independent multipliers: Annual mileage and Storage type both move the premium in the direction you'd expect -- more driving raises it, better-protected storage lowers it -- while Primary driver age follows a U-shaped curve rather than a straight line, since collector insurers typically surcharge drivers under 25 for inexperience AND drivers over 65-75 for age-related risk, with the lowest rates in between. Number of insured vehicles applies a per-additional-vehicle discount (capped at 25% total) that depends ONLY on how many classics you're insuring, not on any other input -- Agreed value ($), Annual mileage, Storage type, Primary driver age, and Deductible ($) all leave Multi-vehicle discount completely unchanged.

Deductible ($) reduces the premium in discrete steps as it crosses set thresholds rather than continuously, so raising it slightly within the same tier (say, from $600 to $900) does nothing until it crosses the next threshold ($1,000). Savings vs standard policy compares this estimate against a rough standard-auto-insurance benchmark, illustrating why agreed-value coverage is typically far cheaper than insuring the same vehicle as a daily driver -- collector policies assume limited mileage, careful storage, and an owner who treats the car as a collectible rather than transportation.

Inputs

Agreed value ($)

Annual mileage

Storage type

Primary driver age

Number of insured vehicles

Deductible ($)

Tab to move between fields

Results

Est. annual premium

$239.40

Monthly premium$19.95

Premium as % of value0.68%

Insurance cost per mile$0.12

Savings vs standard policy$1,336.00

Multi-vehicle discount0%

How to Use This Calculator

Enter agreed value ($) and annual mileage for the vehicle.
Select storage type (outdoor, enclosed garage, or climate-controlled facility).
Set driver age, number of insured vehicles (for the multi-vehicle discount), and deductible ($) (for the deductible credit).
Review estimated annual premium and compare with actual quotes from specialty insurers.

How the result changes with Agreed value ($)

Agreed value ($)	Est. annual premium
$17,500.00	$119.70
$26,250.00	$179.55
$52,500.00	$359.10
$87,500.00	$598.50

What each input means

Agreed value ($): The agreed-upon value that would be paid in a total loss. Set this based on current market value plus a buffer.
Annual mileage: Most collector policies require under 5,000-7,500 miles/year. Lower mileage earns bigger discounts.
Storage type: Enclosed, climate-controlled storage earns the best rates.
Primary driver age: Age of the primary driver. Drivers under 25 face higher premiums.
Number of insured vehicles: Multi-vehicle policies earn ~5% discount per additional car, up to 25% total.
Deductible ($): Higher deductible = lower premium. Common options: $0, $250, $500, $1,000, $2,500.

What each result means

Est. annual premium: Estimated yearly insurance premium for agreed-value collector car coverage.
Monthly premium: Annual premium divided by 12.
Premium as % of value: What percentage of the car's agreed value you pay annually. Typical range is 0.5-1.5%.
Insurance cost per mile: Annual premium divided by estimated annual miles driven.
Savings vs standard policy: Estimated savings compared to a standard auto insurance policy at full-coverage rates.
Multi-vehicle discount: Percentage discount earned for insuring multiple collector vehicles.

How this is calculated

Worked example, using the default values

Identify Input Parameters
6 parameters
Agreed value ($) = 35000, Annual mileage = 2000, Storage type = 1, Primary driver age = 45, Number of insured vehicles = 1, Deductible ($) = 500 = 6 input(s) provided
Calculate Est. annual premium
Est. annual premium = basePremium * mileageFactor * storageFactor * ageFactor * (1 - multiDiscount)...
239.4 = $239.4
Calculate Monthly premium
Monthly premium = annualPremium / 12
19.95 = $19.95
Calculate Premium as % of value
Premium as % of value = (annualPremium / agreedValue) * 100
0.68 = 0.68%

Engine last updated August 25, 2026. Checked against 2 independently-derived tests — how we verify calculators. Built by Paul Gunder, a software engineer, not a licensed financial, medical, or legal professional.

Frequently Asked Questions

Why does Multi-vehicle discount never change no matter what I set Agreed value ($) or Primary driver age to?

Multi-vehicle discount is calculated purely from Number of insured vehicles -- 5% per additional vehicle beyond the first, capped at 25% total -- with no dependence on the vehicle's value, mileage, storage, driver age, or deductible at all. It's a fleet-size discount, not a risk-based one, so it stays fixed regardless of how those other factors change.

Why does Primary driver age sometimes RAISE the premium as it goes up, and sometimes LOWER it?

The age factor isn't a straight line -- it's highest for drivers under 25 (inexperience risk), drops to its lowest, standard rate for drivers 25-65, then ticks back up modestly for drivers over 65 and again over 75. So moving Primary driver age from 20 to 40 lowers the premium, but moving it from 60 to 80 can raise it again -- the direction depends on which end of the age range you're starting from.

Why doesn't raising Deductible ($) by a small amount always lower Est. annual premium?

The deductible credit applies in discrete tiers -- $500, $1,000, and $2,500 thresholds -- rather than scaling continuously with every dollar. Raising Deductible ($) from $600 to $900 stays within the same tier and changes nothing; only crossing a threshold (say, from $900 to $1,000) unlocks the next discount level.

Is Savings vs standard policy based on a real competing quote?

No -- it's a rough benchmark (roughly 4.5% of Agreed value ($), with an $800 floor) meant to illustrate the general gap between collector "agreed value" coverage and standard daily-driver auto insurance, not a real quote from any specific insurer. Actual standard-policy costs vary enormously by driving record, location, and coverage limits, so treat this comparison as directional rather than precise.

Why would Storage type matter for an insurance estimate?

Where a collector car spends most of its time strongly affects theft, weather, and physical-damage risk -- an outdoor-parked or carport-stored vehicle is exposed to hail, sun damage, and easier access than one kept in an enclosed garage or, best of all, a climate-controlled facility that also limits humidity and temperature swings that degrade paint, rubber, and upholstery over time.

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