American Collectors Auto Insurance Review: A Policy Designed for Car Enthusiasts

This auto insurer is a good fit for: Drivers with a classic vehicle, a hot rod or custom car, or an imported vehicle.

Bottom line: American Collectors Insurance is a good choice for drivers of collectible cars who have a clean record, another daily driver, and need specialized protection for car enthusiasts.

American Collectors Car Insurance Snapshot

Pricing
Because American Collectors offers different types of coverage than many auto insurers, it's difficult to compare pricing. However, quotes are available online from American Collectors and it's possible to get coverage for a Ferrari valued at nearly $1 million for an annual premium of around $5,000, which is relatively affordable for the level of protection provided.

Discounts
Discounts offered by American Collectors include the following types of savings:

• High-value discount for vehicles priced at $250,000 or more
• Multi-vehicle policies
• Mature driver discounts
• Garage security discounts
• Car club membership
• Storage on a vehicle left
• Winter lay-up

Perks
American Collectors meets the unique insurance coverage needs of car collectors, including drivers with imported vehicles, classic cars, or custom vehicles. Special features targeted to car enthusiasts include agreed value coverage, a variety of mileage plans so motorists can use their vehicle as much or as little as they desire, and a quick, easy underwriting process.

Customer service
American Collectors is accredited by the Better Business Bureau and has received an A rating. The insurer also received 5 out of 5 possible stars on the BBB website's customer reviews. As a specialized insurer, American Collectors is not listed on the J.D. Power customer satisfaction rankings. However, the insurer generally gets good marks from customers on online review sites.

American Collectors auto insurance at a glance

Monthly premium costs:

• $5,153.69 for a 1957 Ferrari 250 GT Boano valued at $964,400
• $5,676.12 for a 2020 Aston Martin DB11 valued at $231,800

Coverage options:

• Classic car insurance
• Classic truck and utility vehicle insurance
• Modified car and hot rod insurance
• Exotic car insurance
• Antique and classic motorcycle insurance
• Insurance for other collectibles, including guns, military memorabilia, and sports memorabilia

Top perks

Coverage is designed for car enthusiasts

American Collectors understands the needs of drivers who are passionate about vehicles.

The insurer offers agreed value coverage. This means the amount paid out after a total loss claim is determined upfront and not based on vehicle depreciation. Inflation Guard is even included at no cost to adjust the agreed value up based on inflation.

American Collectors will also cover vehicles in the process of being restored, as well as providing automatic coverage of up to $100,000 for newly acquired vehicles for drivers with an active policy. This provides time to go through the underwriting process and put coverage in place after a policyholder adds to their car collection.

Discounts provide the opportunity to save on premiums

American Collector offers many car insurance discounts, including savings for high-value vehicles worth more than $250,000. Mature drivers and those providing a secure storage garage also get the opportunity to save. Premiums are also relatively reasonable even for expensive vehicles, and costs depend in part on how often a vehicle is driven.

What could be improved

American Collectors could offer insurance in more situations

American Collectors is very strict about who can obtain coverage. Policyholders must have a "daily driver," and not use their insured classic, collectible, or imported vehicle for commuting or even as a backup to their primary car. Insured vehicles must also be stored in specific secure locations and drivers who do not have a clean record, such as those with a DUI or speeding tickets, won't be eligible for coverage.

These stringent requirements limit who can take advantage of the policies offered by American Collectors. The insurer could offer more options for those unable to fulfill every rule.

When looking for an auto insurer who offers classic car insurance but also other types of coverage: Geico provides insurance for collector cars, but also offers a broader array of auto insurance coverage to more motorists. But, keep in mind, Geico doesn't offer all the same discounts targeted to car enthusiasts that American Collectors provides.

American Collectors is competitive with other insurers, such as Hagerty Insurance, which also focuses on collectible, classic, or imported vehicles. Quotes are available online, with the vehicle's agreed-upon value, miles driven, storage location, and safety features playing a crucial role in determining cost.

Here are some examples of what drivers might pay when securing coverage through American Collectors.

• $5,153.69 for a 1957 Ferrari 250 GT Boano valued at $964,400
• $5,676.12 for a 2020 Aston Martin DB11 valued at $231,800

The discounts offered by American Collectors differ from those offered by standard insurers. Rather than providing savings for factors like earning good grades or completing a defensive driving course, American Collectors provides savings opportunities tailored to car enthusiasts. Here are some examples of discounts offered:

• High-value discount for vehicles priced at $250,000 or more
• Multi-vehicle policies
• Mature driver discounts
• Garage security discounts
• Car club membership
• Storage on a vehicle left
• Winter lay-up

American Collectors does not offer insurance for "daily drivers," or vehicles used for commuting or business purposes. Coverage is only available for classic, imported, and custom vehicles.

Policy types

• Classic car insurance
• Classic truck and utility vehicle insurance
• Modified car and hot rod insurance
• Exotic car insurance
• Antique and classic motorcycle insurance
• Insurance for other collectibles including guns, military memorabilia, and sports memorabilia

Policyholders also benefit from automatic coverage of newly acquired vehicles for 30 days. This coverage provides up to $100,000 in protection and provides car buyers the chance to go through the underwriting process and secure a policy after purchase.

Coverage types

American Collectors offers a variety of coverage types:

• Agreed value coverage that pays out a predetermined amount when a vehicle is totaled
• C.A.R.E. packages that provide emergency towing, emergency roadside assistance, emergency travel costs, lockout services, car show expenses, personal expenses, theft rewards, ambulance assistance, hit and run info rewards, and trailer guard
• Spare parts and automotive tools
• Full safety class
• Disaster relocation and expenses
• Travel loss expenses
• Pet coverage
• Personal effects coverage

American Collectors stands out for its C.A.R.E. packages, which come in four tiers ranging from Silver to Titanium. Each C.A.R.E. package is designed to meet the needs of owners of specialized vehicles. For example, those who miss car shows due to accidents or mechanical breakdowns can make a claim to be reimbursed for non-refundable car show and hotel fees.

American Collectors is not ranked by J.D. Power's Customer Satisfaction survey due to its specialized nature. The insurer generally received positive reviews from customers online and is accredited by the Better Business Bureau.

American Collectors is best suited for people who:

• Have an imported vehicle, a classic car, or a custom car or hot rod
• Also have a separate daily driver
• Have no accident history and meet other eligibility requirements such as storing their vehicle in a secure location

Other insurance companies to consider are Geico for drivers who want the same insurer to cover their collectible car and standard vehicle or Hagerty Insurance for drivers who want a smaller insurer that's more of a family operation.