Classic car insurance is a specialist kind of policy, as the additional cover is generally needed to protect against increased risks of theft and potentially higher costs for damage. Additionally, many insurers offer useful policy additions to cover a variety of vintage car activities, such as track events or exhibiting. However, if you’re lucky enough to own a vintage car you don’t need to worry too much about the costs of insuring your vehicle. That’s primarily because insurers recognise that these types of cars tend to be driven less frequently and are often maintained to the highest standards.
How Does Classic Car Insurance Work?
Many classic car owners are passionate about their vehicles, often spending more time keeping their vintage car immaculate than they do driving! This tends to be one of the major reasons insurers look favourably on the classic car sector, and cost reductions are often available.
There’s no standard definition of a classic vehicle, and classifying your car as vintage is often down to individual insurers. It’s generally accepted in the industry that classic vehicles are over 15 years old, and often valued at £15,000+, but recent Department of Transport guidelines do assess vintage vehicles as being over 30 years old. Many owners of vintage cars find it’s an easy matter to get their vehicle insured as a classic if it has a traditional look or unique features.
Shop around to compare classic car insurance premiums first! Get a quote
It’s always a good plan to shop around different insurers before taking out any kind of policy, and this is also true of the classic car sector. Many vintage vehicles have simpler mechanics and can’t be driven at such high speeds as modern cars. This means insurers classify them as low risk from the outset. One of the major benefits of classic car insurance is that it provides cover for repairs, as these can be very expensive due to the lack of available parts.
Just some of the standard policy protections for classic car insurance include:
- Legal protection
- Cover for times the vehicle is off the road
- Breakdown cover
- Cover for driving in the EU
In addition, most vintage car owners receive some form of limited discount for reduced mileage.
Some classic car insurance policies have useful optional extras, such as:
- Insurance for exhibition or rallying purposes
- Increased cover for restoration costs
- Racing cover for drivers participating in track events
Not all of these policy additions are available from every classic car insurer, so comparing policies can give you much more than standard third party, fire, and theft cover.
Shop for the best car insurance at Arkwright Insurance Brokers today!
Take the time to discover more about insuring your vintage vehicle at Arkwright today. You’ll find it’s an easy matter to compare premiums from a variety of specialist insurers within the classic car sector, and if you have any questions at all, don’t hesitate to get in touch.