If you own a classic car, it is probably extremely precious to you. Classic cars are usually very valuable and may be driven, collected or bought as investments. In any case, it is vital that you get the best insurance available for your classic car so that it is kept safe from the dangers of accidental damage or theft.
Your classic car will need specialist insurance due to its rarity and desirability; standard insurance policies may not be able to cover the totality of what your car is worth as a classic model.
Classic cars can also be more costly to get insurance for due to the age of the car and its lack of modern features. Classic cars are oftentimes more fragile and less safe to drive than the cars we see on the market today, resulting in higher premiums being charged than on most modern vehicles. Specialist insurance will cover in the case of incidents such as mechanical failure, fire, theft or flooding at a fair price tailored for classic cars only.
Some classic car insurers will require that your car is of a minimum age (such as 30 years old); but this requirement is variable between providers.
Classic cars are labelled as ‘classic’ mostly due to their old age. For a car to be classic it usually has to have been manufactured 25-50 years ago. Cars over 50 years old may be considered ‘antique’ rather than classic. Other categories of ‘old’ cars include the ‘veteran’, the ‘vintage’ and the ‘post-vintage’, all of which refer to corresponding periods of manufacture.
Classic cars can be worth a lot of money as they are seen as a luxury or collectable item that are appreciated for their rarity. The harder to come by a certain model is, the more it is likely to be worth monetarily. Because it is likely that your classic car is worth a fair amount, it is very important that you have a great insurance policy that can protect it from any damage or theft that might happen to it.
The car’s registration number if you have it to hand. If not, the car make and model is fine. We’ll also need the car’s age and any modifications you’ve made
Details of your no-claims discount will help lower the price you are quoted. Use our no-claims discount tool to find out how many years’ no-claims discount your insurer will honour
Social, commuting or business, and how many miles you think you’ll do a year. You’ll also need to say where you’ll keep the car at night for security
The type of licence you have and how long you’ve held it. You can also add any additional driving qualifications you have here
Including your job, your age and your address
In order to get car insurance with one of Proper Finance’s trusted insurers, you must:
Those applying for classic car insurance will also have to fit the insurer’s age criteria. Whilst there is no set minimum age to define a classic car, the usual threshold is cars that are over 15 years. Different insurers will have different definitions of a classic car, therefore its always best to compare a range of different options to find an insurer that will accept your application.
Agreed Value Car Insurance is where the value of your car is calculated by an independent professional and your insurance provider offers you coverage for the agreed value of your vehicle in today’s terms. If you only have standard car insurance, the provider may well cover only what the model is worth as an old, standard vehicle rather than as a classic or prized one. Agreed Value Car Insurance enables you to secure coverage against the real value of your classic car as it is considered by the specialist classic car market rather than by its current market value.
Laid Up Insurance is for vehicles that are not currently being used on the road. This kind of insurance may be suitable for cars that are kept only for collectable or investment purposes, as is the case with many classic cars. Keeping your classic car insured while off the road safeguards it from any damage or theft that may happen when it is not being driven.
Laid Up Cover usually demands that your classic car is stored safely, be it in a garage, a locked building or parked on your private property.
Getting great classic car insurance is easy with Proper Finance. Simply fill in a few of your details using our online form and you will be contacted by one of our trusted insurance partners. They will assist you every step of the way, helping you get a competitive quote for your vehicle and insured as effectively and quickly as possible.