Classic Car Insurance, Is it for you?

If you own a classic car and use it either at the weekends or for general social, domestic and pleasure, then a classic car insurance policy may be what your need. This type of policy is usually better for experienced drivers with a low claims history rather than for inexperienced or younger drivers.

Insurance providers who offer classic car insurance state that to qualify for this specialist insurance the vehicle has to be at least 20 years old.

Alongside this, a limited mileage is usually required. The reasoning behind this is that classic car policies tend to be for a vehicle that is used less regularly and so a low annual mileage of 5,000 or below is the norm, although some companies can offer a higher mileage level.

When deciding the level of cover and excess amount it may be worthwhile considering a higher excess as you won’t be using the vehicle as much, so its condition is high and risk relatively low, which ultimately will save you money on your premium.

Becoming a member of a classic car club shows that you are enthusiastic about your vehicle; this can gain a discount when getting an insurance policy.

Many classic cars are vintage and valued commodities, so do make sure when taking out insurance that you have an agreed value for its cost, otherwise you could find yourself in the event of a claim not receiving its true cost. Keep an eye on the car’s value and regularly update this with your provider to see if you would still be covered for the vehicle’s full amount. Being a classic car its value may continue to rise the older it gets.

Finally, do not always assume that the cheapest classic car policy is necessarily best for you. A classic car requires far more care than the norm and you want to make sure you are covered in all eventualities, otherwise what’s the point of having insurance?

Make sure you always get the best possible deal on your car insurance by using comparison sites to shop around!