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Antique vehicle insurance in Quebec: what you need to know
In Quebec, an antique vehicle is generally defined as a car, truck, or motorcycle that is 25 years old or older, preserved or restored to a condition consistent with its manufacturing era. Some specialized insurers accept vehicles as young as 15 to 20 years old if they have recognized collector value. What fundamentally distinguishes antique vehicle insurance from standard auto insurance is the concept of agreed value.
Unlike a standard auto insurance policy that reimburses the depreciated market value at the time of loss, antique vehicle insurance is based on a value agreed upon and fixed in advance between you and the insurer. If your restored 1967 Ford Mustang is appraised at $45,000, that is exactly the amount you will receive in case of total loss — without negotiation or depreciation.
Agreed value: why it’s crucial
The agreed value (or stated value) is the most important concept to understand in collector vehicle insurance. Here’s why:
- No depreciation: your antique car appreciates in value over time — standard insurance doesn’t account for this and would reimburse you well below its actual value.
- Guaranteed amount in case of total loss: fire, theft, collision — you receive the agreed-upon amount without negotiation.
- Protection of your restoration investment: if you’ve invested $30,000 in restoration, that investment is protected in the agreed value.
- Periodic review: most insurers allow you to reassess the agreed value every 2 to 3 years to account for market appreciation.
To establish the agreed value, your insurer may request recent photos, an appraisal report from a recognized expert (such as an appraiser accredited by the SAAQ), or an estimate based on collector market quotes. A broker specialized in collector vehicles can guide you through this process.
Usage restrictions and typical pricing
Antique vehicle insurance is also affordable because it is associated with limited usage. Specialized policies assume your collector car is not used as a primary vehicle:
- Typical covered usage: parades, exhibitions, rallies, occasional drives (weekends), photography, and filming.
- Limited annual mileage: most policies provide a maximum of 5,000 to 8,000 km/year. Exceeding this limit without notifying your insurer can void your coverage.
- Secure storage: the majority of insurers require the vehicle to be parked in a closed and locked garage when not in use.
In terms of cost, an antique vehicle insurance premium typically ranges from $150 to $500/year for pleasure/exhibition use, which represents significant savings compared to standard auto insurance. The premium varies depending on the agreed value, region, driving history, and storage conditions.
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Frequently asked questions — Antique vehicle insurance
What is an antique vehicle according to insurers in Quebec?
The definition varies by insurer. The most common rule is: a vehicle 25 years or older, preserved or restored to a condition consistent with its manufacturing era, and used primarily for pleasure or collection purposes (not as a daily vehicle). Some specialized insurers accept vehicles from 15 years old if their collector value is established. The SAAQ officially recognizes antique vehicles (red plates), which can facilitate certain insurance procedures.
What is the difference between agreed value and market value for insurance?
Market value (used in standard auto insurance) is the depreciated value of the vehicle on the market at the time of loss — for an old car, this may represent a fraction of its actual value. Agreed value is an amount set in advance between you and the insurer, based on a professional appraisal. This is the exact amount you will receive in case of total loss. For a collector vehicle, agreed value is essential.
How many kilometers per year can an antique car with coverage be driven?
The limit varies by insurer but typically falls between 5,000 and 8,000 km per year. Some insurers offer policies with a 3,000 km/year limit (strictly for exhibition use) at very low prices, while others may go up to 15,000 km/year for more regular use. It is crucial to know and respect this limit: exceeding the authorized mileage can result in claim denial.
Can an antique car be driven every day as a primary vehicle?
No. Antique vehicle insurance policies are designed for limited leisure use, not daily use. If you wish to use your antique vehicle as your primary car, you will need to purchase standard auto insurance with a collector value notation — but you will lose the benefits of agreed value and reduced premiums. Discuss your situation with your broker.
How is agreed value calculated and established?
The insurer (or broker) may request: (1) recent photos of the exterior, interior, and engine, (2) an appraisal report from a recognized expert (antique car club, certified appraiser), (3) restoration invoices, and (4) published market quotes. Once the agreed value is established and signed in your contract, that amount will be paid in case of total loss without dispute.
How much does antique vehicle insurance cost in Quebec?
For exhibition/pleasure use with an agreed value of $25,000 to $50,000, expect between $150 and $500/year. For very rare vehicles or those valued above $100,000, the premium can exceed $1,000/year but remains very advantageous compared to standard auto insurance. Bundling your antique vehicle insurance with your home insurance may qualify you for a discount.
Do I need a garage to insure an antique vehicle?
The majority of specialized insurers require a closed and locked garage to cover an antique vehicle. This condition reduces the risk of theft and weather damage. If you don’t have a garage, some insurers accept car covers or specialized storage units, but the rate will be higher. An unsecured shelter or simple tarp generally does not meet this requirement.
Is my antique vehicle covered during transport (open or enclosed trailer)?
In general, yes — your antique vehicle insurance policy covers the vehicle during transport on a trailer for trips to exhibitions or rallies. However, the trailer itself is not covered by this policy — it must be insured by your auto insurance. Inform your insurer of planned trips to confirm coverage.
Are spare parts and special tools covered by insurance?
Some specialized policies include coverage for original spare parts stored with the vehicle, which is particularly valuable for models where parts are rare and expensive. This coverage must be explicitly requested and declared. Special restoration tools may require separate coverage through your home insurance or a business policy.
Can I lend my antique vehicle to a friend or family member?
This depends on your policy. Some insurers allow occasional use by designated or authorized drivers, provided they are declared in advance. Others restrict use to the owner only. Lending your vehicle without notifying your insurer is one of the most common reasons for coverage denial when a loss occurs. Check this clause with your broker before lending your vehicle.
Does insurance cover damage sustained at an exhibition or parade?
Yes, that’s precisely why antique vehicle insurance exists. Impact during a parade, vandalism in an exhibition parking lot, or even damage caused by a spectator are covered by a properly written policy. Some insurers also offer « event participation » coverage in case of cancellation of an event due to a covered loss.
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