A car is considered a classic in Missouri if it's at least 25 years old and has been owned solely as a collector’s item. When a vehicle in Missouri meets these requirements, the owner can register it as a historic vehicle, which will allow the car to use special license plates.
Classic Car Qualifications in Missouri
At least 25 years old
Owned as a collector’s item
Used for exhibition and educational purposes
Keep in mind that even if your vehicle is registered as a classic car in Missouri, it might not qualify for classic car insurance from certain companies. Each classic car insurer has its own eligibility requirements, so your car will need to meet those standards in order to qualify.
Classic car insurance costs less than regular car insurance because a classic spends less time on the road than a vehicle used for commuting or errands. The average classic car insurance policy costs between $400 and $1,000 per year.
Like with any auto insurance policy, each driver’s classic car insurance premium will vary based on individual risk factors such as location, driving history, the driver’s age, and the vehicle’s value. Classic car insurance usually applies to antique vehicles as well as to old, high-performance cars. Requirements and prices vary by company, though.… read full answer
Why Classic Car Insurance Costs Less Than Normal Car Insurance
Almost every classic car insurance provider forbids regular use of the vehicle, which reduces the risk for the insurer and keeps costs low. Classic cars are generally limited to parades, car shows, and pleasure driving up to a mileage limit stated in the policy. As a result, you may need to provide proof that you own a regular car for daily use when purchasing classic car insurance.
Another key difference is that most classic car insurers pay the vehicle’s “agreed value” if it is totaled. This amount is decided when the policy is purchased and reflects the fact that classic cars maintain their worth over time. On the other hand, standard car insurance policies usually pay a vehicle’s actual cash value in the event of a total loss, accounting for depreciation.
How to Lower the Cost of Classic Car Insurance
You can lower the cost of a classic car insurance policy by comparison-shopping for quotes and taking advantage of discounts. Many discounts will be the same as those for regular car insurance, such as discounts for having an anti-theft device or taking a defensive driving course. Some companies also offer discounts for membership in certain car clubs or for switching from a different insurer.
Car insurance in Missouri costs $49 per month, on average, or $587 per year. The average cost of car insurance in Missouri is 18% lower than the national average auto insurance premium, and Missouri ranks 24 out of 50 for the most affordable car insurance rates in the U.S.
There are several factors that affect how much you’ll pay for car insurance in Missouri, including your driving record, age, location, the amount of coverage that you purchase, and the insurance company you buy it from. On average, the cheapest insurance companies in Missouri are Missouri Farm Bureau, USAA, and Travelers. But every insurer has their own way of calculating premiums, so it’s a good idea to get quotes from at least three different companies to make sure you find the best deal.
Finally, it’s worth noting that car insurance premiums in Missouri are average, compared to the cost of coverage in neighboring states like Illinois and Indiana. You can find more details in the table below.
Cost of Car Insurance in Missouri vs. Neighboring States
Missouri car insurance laws require bodily injury liability coverage of $25,000 per person and $50,000 per accident, along with $10,000 of property damage liability coverage. Missouri also requires uninsured motorist coverage totaling $25,000 per person and $50,000 per accident of bodily injury.
The first two categories – bodily injury liability and property damage liability - cover injuries or damages that you accidentally cause with your car. Your car insurance pays up to the per-person or per-accident limit in each category. Uninsured motorist insurance provide additional coverage for you, in the event that you get into an accident with a driver who has limited or no insurance of their own.… read full answer
Car insurance is required in Missouri, but some drivers break that law or simply don’t have enough insurance to cover all accident-related expenses. Having uninsured coverage on your own policy means you can repair your car or go to the hospital without worrying about where you’ll get the money to pay your bills. If you want additional coverage, you can choose higher limits than the ones required by Missouri law.
Since insurance is required by Missouri law, you can face multiple penalties if you’re caught driving without it, including fines and suspension of your license and registration. Another important Missouri law to note is the grace period for new residents: You have 30 days to register your car when you move to Missouri. You’ll need to bring proof of Missouri car insurance when you go to register, with coverage in each of the categories listed below.
Minimum Coverage Required by Missouri Car Insurance Laws:
Bodily injury liability: $25,000 per person / $50,000 per accident
Property damage liability: $10,000
Uninsured motorist insurance: $25,000 per person and $50,000 per accident of bodily injury
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