Car Insurance for Classic Cars
If you own a vintage car then you should definitly consider opting for classic car insurance. Generally speaking, classic car insurance is cheaper than standard car insurance. This is based on the fact that classic cars are well cared for, are driven for fewer miles every year and usually garaged.
What Is a Classic or Vintage Car?
So what constitutes a classic car? This varies between insurers; some insist that your car must be 15 years older or more whereas others have a broader definition.
Compare Premiums
There are a huge number of firms out there who offer classic car insurance which is why its importanc to not only compare premiums but to look at the additional benefits on offer as well. First thing to look for is if they offer a free valuation. This means an expert will value the price of your vintage car meaning you will be paid the correct amount if something were to go wrong. You should also see if the policy allows you to increase the value of your car year-on-year as, as with many classic cars, the price inevitably goes up!
Insurance Discounts
The majority of classic car insurance providers also offer 'limited millage' discounts which means the less you drive the less you have to pay. However, if you plan on driving your classic car regularly then check the terms and conditions to see if you are covered for the extra millage.
Other Considerations
Classic Car Clubs
If you are member of a classic car club then look for car insurance companies that are either affiliated with the club or provide discounts for drivers who are members.
Rallies
If you are considering driving your car in a rally or away from public roads then ensure your car insurance policy cover this as some classic car insurance providers won?t pay out if your car is damaged at such an event.
Laid Up Insurance
What if your classic car is undergoing repair, refurbishment or is being transported by trailer? Then look for insurance policies that offer ?laid up? insurance. This means your vintage car is covered if it is out for repair or is at an exhibition. It also covers the transportation to and from the event or garage.
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This site is for information only and cannot offer insurance advice for your particular situation.
Consult with an FSA authorised insurance advisor if unsure on any topics related to car insurance.
