Buying, restoring, upgrading, storing and maintaining your classic car can be an expensive hobby, but one part of the equation is actually very affordable: classic car insurance. You'll be pleasantly surprised at how inexpensive specialized insurance for collector cars can be.

Better yet, there are ways you can make classic car insurance cheaper still. Here are the top five ways to save money on classic car insurance.

1. Classic Car Insurance Companies - Find 'Em

Get your insurance from a company that specializes in policies to insure collector cars, classics and street rods. Normal insurance companies often don't understand that classics are different. They will usually only cover your vehicle for Actual Cash Value, meaning the "book" value minus depreciation. They'll charge you for liability insurance as if you drove the car every day. Specialty companies will offer Agreed Value coverage, and pay you the full agreed value of the car in case of a total loss. Some major insurance companies do have special departments and programs for collector cars, so ask your agent.

2. Mileage Limits

Agree to the lowest mileage limitations practicable for your lifestyle. All policies for classic and antique vehicles have mileage limitations--commonly 1,000 or 2,500 miles, sometimes as high as 6,000 miles a year. If you only drive your classic in the occasional Fun Run or car show, you're not putting many miles on it. Opt for the lowest mileage limit that will allow you to drive when you really want to, and save yourself some money.

3. Join a Classic Car Club

There are clubs for every make and model of collectible car, and many general ones as well. Many specialty insurance companies will give you a discount on your policy if you belong to a classic car club. Always ask.

4. Buy Only the Classic Car Insurance Coverage you Need

If you're in the process of restoring a classic car and it's not yet drivable, obviously you don't need liability coverage yet. You should be insuring what you've got--even the parts that are still lying on the garage floor--against fire, theft, vandalism, etc. A comprehensive policy will protect you while keeping your premium extremely low. Once all the pieces of the puzzle are put together and she's ready to roll, you can add liability coverage at pretty reasonable rates.

5. Look for a Classic Car Insurance Company that Offers an Inflation Guard

While technically this won't save you money up front on your classic car insurance, it does protect your investment. Since classic cars typically appreciate in value, this feature increases your coverage by a set percentage each quarter. This keeps you always protected for the full value of your investment.

By following a few simple tips, you'll find it very easy to get cheap classic car insurance, and you can spend the extra money on a trip down Route 66.