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American Collectors Insurance Review 2019

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American Collectors Insurance has been in business since 1976 and is headquartered in Cherry Hill, New Jersey.  Its parent company is part of Assurant Inc., a Fortune 500 company with an annual revenue of $10+ billion. In 2014, NSM Insurance Group acquired American Collectors Insurance.  The company sells its insurance products through a network of independent agents, insurance organization partnerships, and through direct sale to the consumer. The company’s rates are higher than that of a number of its competitors, but the rates are in the competitive range.  One significant drawback, however, is that the company’s coverage options vary from state to state with agreed value coverage not being offered in three states.


  • The company is rated an A+ by the Better Business Bureau although the company is not accredited by the BBB.
  • Assurant, the parent company, has excellent financial strength according to A.M. Best
  • American Collectors Insurance insures collector cars for Agreed Value.
  • The company offers three mileage plans:  2,500; 5,000; and a Freedom Tier which allows for occasional general use plus up to 7,500 annual miles.
  • The company uses a simple application process in which applicants answer a few questions and submit payment along with a photo of their vehicle.  
  • Offers zero deductible
  • Works with independent agents and brokers in every state.
  • Unlike a number of other collector car insurance companies, American Collectors Insurance offers its insurance in all 50 states plus Washington D.C.
  • Policies include inflation protection of up to 6% for no additional premium.
  • The company offers restoration coverage.


  • The company’s rates are competitive but higher than some of their competitors.
  • No information is available regarding the company’s claims satisfaction rating.
  • Unlike some other companies that offer collector insurance, American Collectors Insurance does not insure jewelry, watches, furniture, or fine art.
  • Coverage offers and discounts vary by state
  • Antique and Collector Motorcycle coverage is not available in New York and in North Carolina. The company only offers coverage for physical damage.
  • The company does not offer the agreed value coverage option in Massachusetts, Texas, and Virginia.

American Collectors Insurance insures collector vehicles, custom cars and hot rods, antique and classic motorcycles, and collectibles.

For a car to be eligible to be covered by American Collectors Insurance it must satisfy the following requirements:

  • be driven on a limited basis and not as a daily use car, not used for racing or Driver’s Education;
  • kept in an enclosed or locked garage;
  • drivers must have at least five years of licensed driving experience and a good driving record with no more than one moving violation or at-fault accident in the past three years;
  • lastly, every licensed driver in your household must have a regular use vehicle.

What Makes American Collectors Insurance Unique?

  • American Collectors Insurance advertises itself as a way to protect your passion and your wallet.  The company offers a ‘real person’ guarantee which means you get to talk to an actual licensed insurance representative if you call the company during business hours.
  • Furthermore, the company’s TLC plan (Towing and Labor for Collectors) is very unique and valuable to collector car owners.  No matter how well kept your classic car is, there is a good chance your car may suffer a breakdown at some point due to its age.  When that happens, TLC plan will come in handy.
    • It covers some nonrefundable hotel fees and car show fees, if you are forced to miss a show due to a mechanical breakdown or accident. It also offers bail bond and legal defense coverage for people who purchase the platinum plan; these features are not offered by most collector car insurance companies.  

>>MORE: Find the Best Car Insurance for Classic Cars

How Expensive are the Rates of American Collectors Insurance?

A car insurance company’s rates are one of the main factors that consumers look at when trying to decide on an auto insurance company.  This is true even with collector car enthusiasts. You want to protect your passion at a great rate. The way in which rates are calculated for collector cars differs slightly from that of traditional car insurance due to the fact that collector cars are not driven for regular use.   Collector car insurance rates are based in large part on a company’s base rates. 

To get a quote from American Collectors Insurance, simply go on the website and use their quote tool.

Here is an example of American Collectors Insurance rates for a 158 Cadillac Eldorado Seville with 6,358 miles on it and an estimated value of $67,900.00 that is estimated to be driven 2,500 miles or less a year for pleasure:

  • For $1,000 deductible on collision
  • $1,000 deductible other than collision
  • Including liability coverage
  • $1000 Spare parts coverage
  • Towing and Labor Platinum Plan ($34.95)
  • $500,000 Bodily Injury/ Property Damage limit
  • $10,000 Medical Payments 
  • $3,500 Uninsured Motorist Property Damage
  • $100,000 Uninsured/ Underinsured Motorist Bodily Injury

American Collectors Insurance quoted an estimated annual premium of $487.67.

If you opt for a $0 deductible on collision and a $0 deductible on other than collision, the estimated annual premium rate increases to $514.83.

(The estimated quote is subject to change after the company receives your motor vehicle records, information on type of usage, and garaging security information.)

For the same car with the bullet-pointed parameters and an agreed value of $77,900, American Collectors Insurance quoted an estimated annual premium of $535.67.

American Collectors Insurance vs. Condon Skelly: Who is More Expensive?

In comparison, here is a look at a similar policy from Condon Skelly for the same car with an agreed value of $67,900:

  • For $1,000 deductible on collision 
  • $1,000 deductible on other than collision
  • Including liability coverage
  • $1,000 electronic equipment coverage
  • Roadside assistance 
  • $1,000 Spare parts
  • $500,000 Bodily Injury/ Property Damage limit
  • $10,000 Medical Payments
  • $3,500 Uninsured Motorist Property Damage coverage
  • $100,000 Uninsured/Underinsured Motorist Bodily Injury

Condon Skelly quoted an estimated annual premium of $335.08, which is $150 or 28% cheaper than that of American Collectors Insurance.  However, keep in mind that American Collectors Insurance coverage includes platinum TLC plan, which many collector car owners might find very useful.

>>MORE: American Modern Collector Car Insurance Review


American Collectors Insurance offers the following discounts:

  • discounts for safety features, mature drivers, garage security and multi-vehicle policies. 
  • discount for individual cars or collections that are valued over $250,000.
  • multi-vehicle discount for insuring two or more qualifying vehicles.
  • discount for modified vehicles $40,000 or more.

Claims Satisfaction

Claims handling and claims satisfaction is a very important part of auto insurance.  This is especially true for collector cars, a passion for their owners. If your collector vehicle is damaged, you want to get it back to perfect condition as soon as possible with the help of your insurance coverage.  This is one of the reasons that American Collectors Insurance allows you to select your repair shop of choice.

How easy is it to file a claim with American Collectors Insurance?

American Collectors insurance tries to make it easy for their policyholders to file a claim if needed.  To file a claim:

  • Click ‘submit a claim’ at the top of the homepage.  Toward the middle of the page is a submit a claim link that will take you to your account to submit a claim.
  • You can also submit a claim by calling 1-888-450-5984.

The information that you need to have handy to file a claim includes:

  • Your policy number
  • The accident or loss details
  • The date and time that the accident or damage occurred
  • Information concerning the items and/or vehicles affected
  • And the best way to contact you

You can choose the repair/ restoration facility and parts needed to make the repairs to your vehicle.

Coverage Options

American Collector Insurance offers a variety of coverage options.  Some of these options include:

  • Coverage for vehicle restoration
  • Inflation guard
  • Spare parts coverage
  • Higher liability limits and more deductible options
  • Automatic coverage for newly acquired vehicles
  • High value vehicle program for vehicles worth more than $150,000 or collections valued at more than $250,000.

The company offers a thorough emergency roadside assistance plan included in its popular TLC plan with various levels: platinum, gold, and silver. These plans include the following:

  • Roadside Assistance
  • Emergency Towing
  • Emergency Lockout
  • Lost Key Return
  • Emergency Travel Expense
  • Car Show Expense
  • Theft Reward
  • Personal Effects
  • Accidental Death & Dismemberment
  • Ambulance Assistance
  • Bail Bond
  • Legal Defense Benefit
  • Trailer Guard

Other Insurance 

In addition to collector cars, hot rods, custom cars, and antique and classic motorcycles, American Collectors Insurance offers insurance for collectibles which include wine, stamps, dolls, trading cards, sports memorabilia, comic book insurance coin insurance and more.

Website Experience

American Collectors Insurance offers a nice website experience with a professional layout that makes information easy to find.  On the site, you can get a quote and even fill out and submit the application if you like the quote. Furthermore, you can view and manage your policy online. You can even submit a claim online.  The site also provides helpful articles concerning insurance topics.

The Bottom Line

  • The bottom line is that American Collectors Insurance offers slightly higher rates than their competitors.  The company does offer more coverage options. This is especially true with its popular TLC plans; the platinum version even covers bail bonds and legal defense.
  • Its parent company is Assurant Inc, a company with $10+ billion in annual revenue.  This guarantees that the company is financially stable.
  • The company’s policies include different mileage plans and inflation protection.
  • One significant drawback of the company is that its coverage and discounts vary from state to state with ‘agreed value’ coverage not being offered in Massachusetts, Texas, and Virginia.  Furthermore, Antique and Collector Motorcycle coverage is not available in New York and the company only covers physical damage for this category in North Carolina.
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