A car is considered a classic in Montana if it's at least 30 years old. When a vehicle in Montana meets these requirements, the owner can register it as an antique vehicle, which will limit the car’s use. Specifically, classic cars in Montana can only be used for purposes other than general transportation.
Classic Car Qualifications in Montana
At least 30 years old
Used as a collector’s item
Not used for general transportation
Keep in mind that even if your vehicle is registered as a classic car in Montana, 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 Montana costs $37 per month, on average, or $446 per year. The average cost of car insurance in Montana is 38% lower than the national average auto insurance premium, and Montana ranks 11 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 Montana, 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 Montana are Safeco, USAA, and Geico. 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 Montana are high, compared to the cost of coverage in neighboring states like North Dakota and Idaho. You can find more details in the table below.
Cost of Car Insurance in Montana vs. Neighboring States
Montana car insurance laws require $25,000 of bodily injury liability coverage per person, up to $50,000 per accident, as well as $20,000 of property damage liability coverage.
Bodily injury liability insurance pays for any injuries that you accidentally cause with your car, while property damage liability coverage helps pay for any material assets that you damage while driving, like another person’s car or mailbox. Your insurance company pays up to the limit specified by your policy for each type of car insurance coverage.… read full answer
You can face multiple penalties if you’re caught driving without at least the minimum car insurance required in Montana, including fines, suspension of your driver's license, and high-risk insurance requirements. Another important Montana car insurance law to note is the grace period for new residents. You have 60 days to register your car when you move to Montana. You’ll need to bring proof of Montana car insurance when you go to register, with coverage in each of the categories listed below.
Minimum Coverage Required by Montana Car Insurance Laws:
Bodily injury liability: $25,000 per person / $50,000 per accident
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