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Are You Eligible For Classic Car Insurance ? (About Classic Car Insurance)


Most auto insurance companies design specific car insurance policies for classic and antique cars. If you think you have a classic car and want classic car insurance, you will need to be sure that your car qualifies. The first and most important aspect of classic car insurance is defining what a classic car actually is.


Classic Car Defined

According to the UK government Revenue and Customs, a classic car is any car that is more than 10 years old and worth more than ₤15,000 pounds. If you own a classic car, choose a company that specializes in classic car insurance because insuring with a standard car insurance company may cause hassles if you need to make any claims. They do not guarantee a value for your car at the time of loss, they do not recognize the fact that collectible cars have a different appreciation value to standard cars and they may not understand the importance of using a garage of your choice or obtaining original parts.

Classic Car Insurance Eligibility

Your car is eligible for classic car insurance if it complies with the following conditions :

  • Your car must be at least 10 years old but some companies allow it to be anything from five years old or more. A few companies though will insure brand new classic cars too.
  • The minimum value of the car is decided by the insurer.
  • The vehicle must be used as a second car, never as a primary vehicle. Other considerations for some insurers include how you keep your car (garaging preferred) and good driving records. The car should generally be kept under lock and key, with only limited people allowed access to it. The car is not always covered if parked other than at the residence, even temporarily.
  • Driving your vintage car on a regular basis will disqualify you for classic car insurance. A basic limitation imposed by the vast majority of classic car insurers is on the mileage permitted per year and the manner in which that mileage is used. The range is generally 1,500 - 6,000 miles per year. The lower the mileage you limit yourself to, the lower your premium will be. The car may not be in everyday use or used for routine errands such as going to work, shopping or taking children to school. Weddings and other such instances are permissible.
  • Refitting your antique car so that it can participate in car rallies or sporting activities will disqualify you for classic car insurance.
  • The age of the motorist should be at least 21 years of age but it varies between policies. Obviously, the younger the driver, the higher the premium as companies opt for experience. Some companies will refuse to insure cars with young drivers.
  • Depending on the insurance provider, classic car insurance is specific to car make and model.
  • Your antique car must not have been involved in criminal activity.
  • The car originated in the UK.
  • You possess an unexpired UK or EU car license.

If you qualify for classic car insurance, their premiums will cost you only a fraction of what normal companies will charge you. The policy details vary from company to company as with standard motor insurance as do the eligibility requirements, so check all the details carefully. Once you comply with the insurer’s conditions, your car insurance provider will provide you with classic car insurance without any hesitation.

Benefits of Classic Car Insurance

  1. Cost-effective - If you rarely drive your classic car, you benefit from cheaper insurance.
  2. Discounts - Most well established car insurance companies provide classic car owners with discounts at an average of 25%.
  3. Services - Classic insurance providers offer additional services such as roadside breakdown help, and windscreen refurbish and replacement service.
  4. Guaranteed value - In most cases, you can specify a ‘guaranteed value’ for your car. This value denotes the overall condition of your car.

Comprehensive Insurance

Constitutes accidental damages, fire breakouts and theft attempts. It also includes medical expense received due to personal injuries.

Laid Up Insurance

Includes injury due to accident, fire and theft.

Additional Insurance

You can request your insurance provider to offer you coverage for your prized number plate.

If classic car insurance is what you require and you fulfill all the requirements, be aware that you can have a lot of the extras for a standard policy, such as breakdown coverage. Also, ensure you have an ‘agreed value’ policy which means the worth of your car has been mutually agreed between a representative of the insurance company and the owner of the car, and is stated in the policy. At the time a claim is made, this ‘agreed’ value of the car remains valid. Any changes in the policy, even a different parking place for your car, can affect your policy, so keep the insurance company informed.

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