Street rod car insurance

How to find the right insurance for your pride and joy.

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You’ve probably invested a lot of time and effort, as well as money, in your street rod, so finding the right insurance is crucial.

This guide explains what you need to know about street rod car insurance, what to look for and how to find the right cover for your street rod.

Compare comprehensive policies

Name Product Roadside Assistance Accidental Damage Storm Choice of Repairer Agreed or Market Value
Coles Comprehensive
Optional
Agreed or Market
Finder's summary: With Coles comprehensive car insurance, you could earn double flybuys points at Coles supermarkets and you can get $10 off your Coles grocery bill every time you redeem 2,000 Flybuys points. Also, get up to $200 for damaged or stolen groceries. Get 10% off your first year's premium when you take out a policy online. T&Cs apply.

Who it might be good for: Coles customers and Flybuys collectors.
Australia Post Comprehensive
Optional
Agreed or Market
Finder's summary: Australia Post car insurance offers comprehensive cover for things like theft, fire, new for old replacement and emergency accommodation and transport. Cover also extends to anyone who uses your car, not just you. Get $75 online discount + $100 gift card when you purchase by 11 July 2021. T&Cs apply.

Who it might be good for: If multiple people use the one car and you don’t want to worry about listing all drivers.
Virgin Comprehensive
Optional
Optional
Agreed or Market
Finder's summary: Finalists for the 2019 Finder Awards for Best Value Car Insurance, Virgin Comprehensive provides a good level of cover for a decent price. Get 15% off on your first year’s premium when you purchase a new eligible comprehensive car insurance online. T&Cs Apply.
Budget Direct Comprehensive
Optional
Optional
Agreed or Market
Finder's summary: Awarded the 2019 Finder Award for the Best Value Car Insurance, this policy offers solid coverage at a low cost plus you will get 15% discount on first year's premium when you take out a policy online. Budget Direct's claims service has received a 4.2/5 based on nearly 5,000 customer reviews.

Who it might be good for: People who want a comprehensive policy without breaking the bank.
Bingle Comprehensive
Market
Finder's summary:Bingle consistently comes up as one of the cheaper insurers out there. It only covers the basics, so you don't get to choose your own repairer, you're not covered for personal items in the car and unless you add it as an option, you won't get a hire car if your car is stolen. But this keeps its premiums low.

Who it might be good for: Someone who wants a low-cost option that covers them for the basics.
Qantas Comprehensive
Optional
Optional
Agreed or Market
Finder's summary: You'll be able to choose how comprehensive you want your cover to be with optional extras like choice of repairer and the option of agreed or market value. Plus you can also earn Qantas Points for joining and paying your premium. Sign up today and earn up to 20,000 Qantas Points (points awarded will be based on your premium). T&Cs and eligibility apply.
PD Comprehensive
Optional
Agreed
Finder's summary: PD comprehensive car insurance policy lets you buy, manage, and start your claims process online. It includes cover for emergency repairs up to $500 and free windscreen chip repair. Ability to customise your extras cover. New policyholders can enjoy 15% off on their first year's premium. T&Cs apply.

Who it might be good for: Those with low claims history and the only driver.
QBE Comprehensive
Green Company
QBE Comprehensive
Optional
Agreed or Market
Finder's summary: QBE is a sustainable insurance company and also Finder's Green Insurer of the Year 2021 Award winner. This policy offers the highest level of protection available from QBE including three-year new car replacement. You can also save $75 when you purchase a new comprehensive policy online. T&Cs apply.

Who it might be good for: Those that are looking for a more environmentally friendly insurance choice.
Stella Comprehensive
Optional
Agreed or Market
Finder's summary: Stella’s a female-focused insurer. It'll cover you if your car is damaged as a result of domestic violence. It offers higher cover for baby gear than most, with up to $2,000 cover for prams, strollers and child seats. Get $50 cash back when you purchase online between 1 April – 30 June 2021 using the code STELLA50. T&C apply.

Who it might be good for: Someone who wants a female-centred car insurance policy (it will cover men too).
Poncho Comprehensive
Agreed
Finder's summary: Poncho works like a monthly subscription – you pay monthly and can cancel and leave at any time. You can also list multiple cars and drivers under one policy, making it ideal for families and groups living together under one household.

Who it might be good for: People who want their car insurance month to month.
ahm Comprehensive
Optional
Both
Finder's summary: ahm comprehensive car insurance lets you choose higher excess to reduce your premiums plus you can get up to 15% off when you purchase a new car insurance policy. T&Cs apply. Additionally, their Fixed Kilometre Plan can save you up to 30% compared to their standard comprehensive cover.

Who it might be good for: People who drive less than 15,000 km per year.
Youi Comprehensive
Optional
Agreed or Market
Finder's summary: Youi Comprehensive Car Insurance is one of the few providers to include roadside assistance in its policy. You'll also get access to YouiRewards which gives you discounts on furniture, parking and more. Youi also has a live chat feature on its site to talk through any questions.

Who it might be good for: People over 25 who want comprehensive cover with a focus on customer service
Real Comprehensive
Optional
Agreed or Market
Finder's summary: Real Comprehensive Car Insurance provides similar coverage to other insurers for the important stuff like looking after your car if it's stolen or you crash. They're also one of the few insurers who offer a Pay As You Drive policy, so you might be able to save big if you don't drive much.

Who it might be good for: Those that don't drive much can take advantage of their Pay As You Drive policy.
Huddle Black Comprehensive
Agreed or Market
Finder's summary: Huddle's black comprehensive is its cover with highest limits and exclusive benefits. It includes roadside assistance. You can also get up to $2,000 for emergency travel and accommodation and up to $30 million legal liability cover.

Who it might be good for: Someone who wants a 24/7 claims processing.
Woolworths Comprehensive
Optional
Agreed or Market
Finder's summary: Woolworths catches our eye due to some unique perks like a price-beat guarantee, where it'll beat any current comparable comprehensive renewal notice if you're over 25. You'll also get 10% off your grocery shop once a month and can add roadside assistance onto your policy for just $7.35 per month.

Who it might be good for: Woolworths shoppers and those that want to take advantage of its price-beat guarantee.
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What exactly is a street rod?

In Australia, a street rod generally refers to the following vehicles:

  • A vehicle with a body and frame that were built before 1949 and has been modified for safe and legal road use
  • A carry-over model of a pre-1949 vehicle, made after 1949 and similarly modified
  • A replica of a pre-1949 vehicle

What should I be looking for in a policy?

It’s reasonable to assume that you don’t want to drive a street rod around with anything less than comprehensive car insurance. Even then, standard comprehensive car insurance might not suit your needs.

You may want to look for a comprehensive car insurance policy that also includes a range of prestige features to suit your needs. Standard comprehensive car insurance can cover you for damage as a result of the following:

  • Accidents
  • Fire and explosion
  • Storms, hail, flood, lightning and wind
  • Theft and attempted theft
  • Vandalism and malicious acts
  • Damage to other people’s property
  • Towing and storage costs
  • Legal costs that you may incur in claiming liability from other at-fault parties or defending yourself against legal liability allegations.
  • Cover for personal belongings kept inside the car.
  • Cover for emergency travel, accommodation and repair costs following an insured event.

What other benefits should I consider?

You may want to look for car insurance policies with the following benefits:

  • Agreed value. With agreed value car insurance, you and the insurer agree on a total value for the car. In the event of a total loss, such as if it’s completely written off or stolen, you can receive this agreed value. The alternative is market value, which simply insures vehicles at their publicly recognised market value, subject to depreciation. Market value car insurance typically isn’t the best option for street rods.
  • Modifications cover. You should mention each vehicle modification to the insurer and include it on your insurance policy. Once you do this, you can think of these modifications as being officially part of the vehicle under your insurance policy. You will then have cover for these modifications against damage in line with the terms of your insurance policy. By clearing each modification with your insurer, their value can become part of the total agreed value of the vehicle.
  • Choice of repairer. Some insurance policies will specify that the insurer will choose the repairer in the event of any damage. For a street rod, you’ll probably want to be able to choose your own.
  • Salvage rights. The fine print of many standard car insurance policies says that the insurer gets to claim the car if it is written off. This is when the cost of repairs comes to more than the total insured value (whether agreed or market value) of the vehicle. You will almost certainly want to hold on to the body and chassis, and anything else you can recover, and as such will almost certainly want an insurance policy that gives you salvage rights. Sometimes policies will land in-between these two, and specify that the insurer claims the salvage, but gives you the option of purchasing it back, before it’s sold to a third party or for scrap.
  • Event cover. If you take your vehicle to events or meets of any kind, this can be an important form of cover. Depending on the insurer, you can typically get covered for any events put on by a recognised motorsports or enthusiast group. The Australian Street Rod Federation (ASRF) is one such group. Here, for example, your car will be insured while at registered ASRF events, provided your insurer recognises the ASRF.

Agreed value cover and the ability to choose your own repairer, as well as cover for cosmetic and other non-performance modifications, is widely available with many insurers. However, performance modification cover, salvage rights and event cover can be more difficult to find outside of prestige car insurance providers.

How can I reduce the cost of my policy?

Many enthusiast car insurance policies, such as those designed for street rodders, can offer significant savings with a limited use or lay-up option. These might take different forms depending on the insurer and the policy. For example, you may be able to find the following options:

  • Lay-up periods. You may be able to specify a lay-up period, during which your car is not insured for road use because it’s laid up for modifications, or you won’t be driving it.
  • Low use. If you only drive it occasionally, and the street rod isn’t your everyday drive, you may be able to find a low-use policy which recognises this, such as by only covering you up to a certain distance driven each year.
  • Event only. If you only use your street rod for events, you may be able to find a policy specifically to cover it while at the events or while being driven or transported to and from events.

How am I covered for work or repairs I carry out myself?

Insurers will typically not guarantee any repairs you carry out yourself. This means any subsequent damage or loss, which is the result of faulty repairs or repairs you carried out yourself, will typically not be covered.

If you use a mechanic recommended by the insurer, or who works with the insurer, then any repairs will generally be guaranteed against damage.

If you choose your own repairer, then insurers may or may not guarantee repairs. You may want to check for this in your policy or enquire about it specifically with your insurer.

Where can I find the right type of car insurance?

Prestige insurers are often able to offer a higher level of cover for enthusiasts and street rodders.

If you are a member of an enthusiast group, such as the Australian Street Rod Federation, then your membership fees may also entitle you to a discount with the organisation’s sponsors

Shannons, for example, is an ASRF sponsor. You might find suitable cover with Shannons regardless of whether you’re an ASRF member, but if you are a member, you may be entitled to a discount or other benefits with this insurer.

Depending on your situation, the discount and other member benefits may not be worth the cost of membership. Members are not necessarily able to access any more cover, and you may not need to be a member in order to get cover for attending ASRF events.

Exclusions: What the insurance doesn’t cover

You’ll typically encounter many of the same exclusions with prestige car insurance that you will find with standard comprehensive car insurance.

  • Obligation to minimise damage. You need to take reasonable steps to minimise damage following an event, such as moving your car off the road or onto the shoulder following an accident if it is safe to do so and you are able to do it.
  • Requirement to take precautions. You are typically required to take reasonable precautions in order to make a claim. For example, you may not be able to claim for theft or malicious damage unless your vehicle was secured or attended to at the time. If you specify that you park your car in a garage overnight, then you might not be covered for overnight losses that occurred while your car was parked on the street outside your home.
  • Roadworthiness and legal driving obligations. Vehicles are typically only covered on the roads while they are in a roadworthy state, and you are following all the relevant laws in your state or territory. An accident claim will be denied if you were driving under the influence at the time or refuse to take a breath test or other sobriety test at the scene of an accident.
  • Unapproved modifications. Unless an insurer has specifically approved a modification, as specified in your policy, you may not be covered for any damage or loss of vehicle modifications.
  • Unapproved use. If you’re using your street rod for commercial purposes, whether it’s carrying passengers for profit or renting it out for use on a movie set, you are typically not covered unless you have cleared it with the insurer ahead of time.

The costs: Your excess and premiums

The excess is a portion of the claim that you need to pay. Often, multiple excesses will apply, in which case you will need to pay them all before the insurer will pay a claim.

  • Standard excess. This is the standard excess found under your policy. You are often able to choose your own excess, and you can opt for a higher excess for lower premiums or vice versa.
  • Unapproved driver excess. If the person driving the car at the time of a claim is not listed as a driver on your policy, you may not be covered at all or an additional excess might apply.
  • Age or experience excess. Drivers under the age of 25, or drivers over 25 who haven’t held their license for very long, may face an additional excess.
  • Special excess. An additional excess may apply to specific types of claims, or an insurer might apply a special excess to high-risk drivers, for example, one with a history of traffic infringements.

Overall, prestige car insurance typically costs more than standard cover, not only because the vehicles are usually worth more and insured at a higher value, but also because you can find a range of additional cover types.

What impacts my premiums?

There are a number of factors that can affect the cost of your car insurance.

  • How you park the car overnight, and whether you park it in an enclosed garage, in a carport or on the street can affect your premiums.
  • Security features, such as alarms or immobilisers may help reduce premiums with some insurers.
  • Your age and gender also have an effect. Under 25s typically pay significantly more for cover, while men often pay more than women.
  • Location, including your state, city, suburb and even your specific address will increase or decrease your premiums. Insurers may consider the actuarial risks of different areas.
  • Your driving and claims history, such as if you have made many car insurance claims in the past, have a history of traffic infringements or otherwise present a higher risk than most, could increase your premiums.

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