Classic Car Insurance

Classic Car Insurance

Classic cars are an excellent insurance risk - these cars are usually better maintained, they are only driven occasionally (if at all) and when they are in use, they tend to be driven carefully and for shorter journeys. Add to this the likelihood that a typical classic car owner will be older and with a wider driving experience than some drivers and you will see why quotes for classic car insurance are often significantly cheaper than for other, everyday-use and more modern cars.

What is a classic car? If you have found this page then it's quite likely that you will already have a good idea whether your pride and joy is a classic model or not. How is it that some cars of a certain age are considered 'classic cars' while others of the same age are not as appreciated? The age of a car in itself is not always the best guide to gaining classic car status - there are many other factors, including the production numbers and scarcity value of the car when it was originally built, whether it appealed to a certain type of enthusiastic driver at the time and over the intervening years and also whether the current value of the classic car is appreciating, or at least fairly stable.

In some cases, such as where the car is very old, probably very rare too and with only a few models still remaining, the classic car status is fairly easily applied, as in the case of vintage or veteran cars. What is the difference between a vintage and a veteran car? A veteran car, officially speaking, is any car made before the end of 1918. A vintage car is one made between 1919 and 1930 although it is widely thought that a vintage car is one that was made between the two World Wars. A classic car, or perhaps a 'modern classic car' is usually a car that is no longer in production and made since the Second World War, although there is an assumed minimum age of 20 years before a car could be considered to be a classic model.

To fulfil the requirements of a classic car insurance policy, the age of the car is only one underwriting consideration. Other insurance factors include the owner's willingness to agree to a limited mileage for the duration of the insurance policy - perhaps 1500 miles or 3000 miles per annum - and also whether the owner is looking for an agreed value insurance policy. This will require the insurance company to agree that the value placed on the classic car by its owner is accurate and will sometimes require an independent engineer's report on the vehicle to be presented to the insurance company before they will agree to the classic car owner's valuation.

Other factors to take into account for a classic car insurance policy is the age of the driver - usually restricted to drivers over 25 - and the requirement for the classic car to be garaged when not in use. Different classic car policies will vary between their specific requirements but if you and your car fulfil most of the criteria mentioned here, you may be eligible for a classic car insurance quote.