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Classic car insurance gives you all the benefits of standard car insurance with additional coverage tailored to vintage or collectable cars. Classic and vintage cars typically have a much lower annual mileage and are unlikely to be used as your main vehicle. However, they can have more specialist uses like showing at vintage car exhibits or being rented as wedding cars. And these will need specialist classic car insurance coverage.
Classic car insurance offers a wider range of coverage. This means you can pick exactly what you need, keeping costs low. For example, if you only use your classic car for leisure use, you won’t need the same coverage as someone who races their vintage car.
This option lets you cover your car for an agreed upon value rather than its market value. This can be essential for vintage cars whose value can fluctuate. It gives you peace of mind if you’ve invested time and effort into maintaining your classic car. It also helps if your car holds sentimental or familial value, and you want to receive fair compensation in the case of an accident
The lower mileage and usage of a lot of classic cars can translate into cheaper premiums overall when compared to standard car insurance policies.
Carrying out a classic car insurance comparison gives you access to a range of specialist insurers who understand and appreciate the value of classic vehicles, and your needs as an owner.
Classic car insurance policies can incorporate different coverage options like those for events, car shows, rallies, or restoration. Getting the coverage you need on one policy could be cheaper overall than add-ons to standard car insurance, or taking out additional policies.
There is no one age that cars have to be to qualify for classic car insurance in the UK. The classic car insurance age requirements will vary across different insurers. But generally speaking, a car over 10-25 years old will qualify.
The exact age of your car is more important when it comes to tax. HMRC defines classic cars as ones over 15 years old, and with a value above £15,000. These can include more modern classics like the Ford Sierra, Escort, or MG Midget.
Meanwhile, cars over 40 years old, like certain Daimlers or Triumphs, can be classified as vintage or historic cars, meaning they could be exempt from tax.
Some of the coverage options available on classic car insurance will be familiar to you. You’ll still have the same three main options, as well as some specialist additional options and add-ons.
Comprehensive insurance is a valuable option for insuring classic cars as it offers protection for the car itself, as well as third party damage. This means you can repair or replace your car if it is involved in an accident or damaged.
TPFT insurance offers third party protection, which insures you against accidental damage or harm you cause to others or their property. It will also protect your car from damage or loss in a fire, or if it is stolen. This is a good option for cars that are in storage or out of use for a large portion of the year.
Third party cover will only insure you against third party claims made against you for accidental damage or loss caused to others. This is the minimum legal requirement for driving on UK roads.
Standard car insurance will usually insure your car against its market value. This means that in the case that your car is written off, this is the maximum payout you will receive to replace the car.
Unlike new cars, the true value of classic and vintage cars depends on more than their market value. This can cause problems for classic owners and collectors when it comes to insuring their vehicles.
With agreed value cover you can factor in the cost of upkeep, repairs and improvements you’ve invested in the car, as well as its rarity, historical significance, and sentimental value.
With agreed value cover you receive a maximum payout amount you are happy with if the car is considered a total loss, giving you more peace of mind.
The cost of classic car insurance in the UK will vary even more widely than normal car insurance. Your premium is calculated on an individual basis, taking into account a range of factors that indicate your level of risk. With our classic car insurance quote form, it takes no time to find out the personalised cost of insuring your car.
The value your car is insured for – Generally, the more your car is insured for, the higher your premiums could be. With agreed value cover, you have more control over this. Otherwise, your car is usually insured against its market value.
Your annual mileage – Lower annual mileage can mean lower premiums. This is simply because less time on the road means you are less likely to be involved in an accident, lowering the risk of insuring your car.
Your usage needs – If you only need social usage cover, you’ll typically pay less than someone who needs track day, or wedding car coverage.
Your driving profile – A good driving history of no driving convictions or past claims can help lower premiums. Some insurers could consider your no claims history on standard car insurance, or allow you to transfer it to your classic car insurance policy.
The insurer you choose – Classic car insurance companies will assign different weights to each risk indicator. This is why it is so important to shop around and compare classic car insurance quotes. If you don’t, you could miss out on choosing the cheapest classic car insurance deal that fits your needs.
Give an accurate mileage – Overestimating your annual mileage could mean you pay more than necessary. Taking the time to calculate your mileage as accurately as possible could save you money in the long run.
Considering upgrading security – Naturally, security features on classic cars are usually outdated. Investing in upgrades like alarms or immobilisers could be rewarded by some insurers with cheaper premiums.
Maintain a clean driving record – Practising good driving can help you avoid getting points or convictions that are known to increase car insurance costs.
Park in a safe location – Quotezone research shows that lifestyle factors like where you park a car can have a significant impact on the cost of car insurance. This could also be the case when it comes to insuring your classic car.
Only get the coverage you need – Consider all of your options when it comes to insuring your classic car. Short term insurance options could be a better choice depending on how you use your vehicle. Likewise, any add-ons like breakdown cover can be excluded if you are already covered by a separate breakdown policy.
Compare vintage car insurance quotes – Comparing quotes can help in your search for cheap classic car insurance. It gives you a better understanding of the market so you can make informed decisions.
When you compare with Quotezone, you get matched with experienced UK insurers who can meet your needs. Our fast and secure platform makes it simple to find classic car insurance deals tailored to you.
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