The main difference between traditional cars and collector cars is that collector cars usually don’t depreciate. In fact, they often increase in value. Moreover, collectors often add customized parts to the vehicle, not to mention hours of time improving the car.
Thus, collector car insurance must be based on the “agreed value” of the vehicle at the time the policy is issued. The agreed value includes your entire investment in the car.
Moreover, rates for antique collector car insurance are normally cheaper than they are for traditional coverage, since collectors tend to take better care of the vehicle and drive it less than they do a car meant strictly for transportation.