Classic Car Insurance Comparison

Compare Classic Car Insurance Quotes: Protect Your Pride and Joy

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What is Classic Car Insurance?

Classic car insurance provides financial protection for vehicles considered vintage, classic, or collector’s items. In the UK, owning and driving a classic car on public roads requires a valid insurance policy. This cover protects you in an accident, theft, or other unforeseen circumstances that could affect your cherished vehicle.

The level of cover will depend on the specific policy you choose and the provider, offering different features such as agreed value cover, limited mileage discounts, and more tailored options for classic cars.

Types of Classic Car Insurance

When insuring your classic car, it’s essential to understand the different levels of cover available. Like standard car insurance, classic car insurance policies provide varying degrees of protection depending on the type of policy you choose. However, classic car policies often come with additional benefits tailored to meet the specific needs of classic car owners, such as agreed value cover and limited mileage discounts.

Whether your car is a vintage model or a cherished collectable, ensuring you have the right cover can offer peace of mind. In the dropdowns, we outline the main types of cover available for classic car insurance.

Third-party-only insurance is the most basic level of policy available. It provides financial protection for any damage caused to other vehicles or injury to third parties in an accident where you are at fault. However, TPO does not cover any damage to your classic car or provide protection in the event of theft or fire. This level of insurance is the minimum legal requirement for driving in the UK, but it may not be the best option if you want to protect your classic vehicle.

Third-party fire and theft insurance extends the cover of TPO by protecting your classic car in the event of fire damage or theft. In addition to covering third parties, this policy will cover the cost of repairing or replacing your classic car if it's stolen or damaged by fire. TPFT offers more protection than TPO while being less comprehensive than other options. For many classic car owners, TPFT provides a good balance of protection, particularly if the car is stored in a secure location when not in use.

Fully comprehensive insurance is the highest level of cover available for classic cars. In addition to protecting third parties, this policy will also cover the cost of repairing or replacing your vehicle following an accident, even if you are at fault. Comprehensive policies also protect against situations where damage is caused, but no blame can be assigned, such as in the case of a hit-and-run. For classic car enthusiasts who want to ensure maximum protection for their pride and joy, fully comprehensive insurance offers the greatest level of security.
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Classic Car Insurance Options

Classic car insurance is tailored to protect cherished vehicles that hold sentimental and historical value. Unlike standard car insurance, these specialised policies often offer additional benefits to meet the unique needs of classic car enthusiasts. Below are some key options to consider when selecting your classic car insurance.

Since classic cars are often driven less frequently than everyday vehicles, many insurers offer limited mileage policies that can help reduce your premium. By agreeing to a mileage cap—such as 3,000 or 5,000 miles per year—you can lower the cost of your cover. However, being honest about how much you plan to drive is essential, as exceeding your agreed limit could result in extra charges or even affect your cover. Unlimited mileage policies are also available if you prefer not to be restricted, though these may come with higher premiums.

One of the most significant benefits of classic car insurance is the ability to agree on the value of your vehicle when you take out cover. Insurers will typically request recent photographs of your car's exterior and interior to assess its current market value. Agreed value provides peace of mind, as in the event of a total loss—whether due to theft or irreparable damage—you'll receive the agreed amount in settlement minus any excess. It's essential to regularly review and update this value, especially as market prices for classic cars can change quickly. Some insurers offer free agreed value assessments through their specialist underwriters.

Salvage retention rights allow you to keep your vehicle's remains if they are written off. For classic car enthusiasts, this can be invaluable, as these vehicles often hold more than just monetary value. If your policy includes this option and your car is deemed beyond economical repair, you can retain the salvage to restore the vehicle or use its parts for future projects. This is a crucial consideration for those who see their classic cars as more than just a mode of transport.

Restoration and modifications are common in classic cars, meaning many vehicles may no longer match their original specifications. Insurers catering to classic car owners are typically accommodating of these changes as long as they are road legal. However, it's essential to notify your insurer of any modifications, particularly those that affect performance or value, as they may increase your premium. Being transparent ensures that your vehicle remains fully covered should the unexpected occur.

Optional Extras for Classic Car Insurance

When it comes to protecting your classic or cherished car, there are a variety of optional extras that can provide added peace of mind. These extras are available depending on your chosen policy and can help ensure your vehicle is covered in various scenarios. Here are two important options to consider:

Protected No Claims Bonus for Cherished Classic Cars 

To safeguard your no-claims discount, you can pay an additional amount to protect it as part of your classic car insurance. This means that your no-claims bonus will remain unaffected even if you need to make a claim. However, it's important to note that this does not prevent the overall cost of your policy from increasing after an accident, even if you were not at fault. The protected no-claims discount allows for one or more claims before your no-claims bonus is reduced, but the specifics depend on your policy's step-back procedure.

Breakdown Cover 

Breaking down on the road or having your vehicle fail to start at home can be stressful and costly. To avoid unexpected expenses, consider adding a breakdown service to your policy. With different levels of cover available, you can choose the option that best fits your needs, ensuring you're supported no matter where your journey takes you.

How Can You Lower the Cost of Classic Car Insurance?

Instead of focusing solely on finding the cheapest classic car insurance, it is more important to seek the best value while ensuring you have the right level of cover for your needs at a competitive price. However, several ways exist to help reduce your classic car insurance premiums while maintaining adequate protection.

Classic car insurance can often be cheaper than standard car insurance because classic cars tend to be driven less frequently. By agreeing to a limited mileage policy, such as a 3,000-mile limit per year, you may be able to reduce your premium. Being honest about how much you plan to drive is essential, as exceeding your agreed mileage could result in additional charges or affect your cover. Unlimited mileage policies are also available for those who prefer not to be limited.

Improving the security of your classic car can lead to discounts on your insurance. Additional security features like trackers, alarms, immobilisers, or wheel locking devices, particularly those that meet Thatcham standards, can help lower your premium by reducing the theft risk.

Many insurers offer discounts if you are a recognised car owners' club member. Membership demonstrates your commitment to maintaining your vehicle and signals that you will likely take good care of it. Insurers often provide a discount for members of these clubs, although the exact amount will vary between providers.

While many insurers do not offer no-claims discounts on classic car insurance due to flat-rated premiums, some do. It's worth checking whether a no-claims discount is available when comparing quotes. Additionally, specific policies may allow you to build up your no-claims bonus on a classic car, which could benefit future policies.

Frequently Asked Questions

Each insurer may have different criteria, but generally, a vehicle is considered a classic if it is over a certain age (typically 15 to 20 years old), is not used as a primary vehicle, and is maintained in good condition. Some insurers also consider the car's rarity and collectability.

Many classic car insurance policies offer an agreed value cover, where you and the insurer agree on the car's value when taking out the policy. Value is calculated on photos and, sometimes, an independent valuation. The agreed value protects you from depreciation, ensuring that you are paid the agreed amount in the event of a total loss.

Most classic car insurance policies offer limited mileage options to help reduce premiums. However, some insurers provide the flexibility of unlimited mileage cover for those who plan to drive their classic car regularly. Choosing a policy that suits how often you intend to use your vehicle is essential.

Yes, many insurers understand that classic cars often undergo restoration and modifications. As long as these modifications are road-legal, they can usually be covered, but it's essential to disclose any modifications when taking out the policy. Some modifications may increase your premium, especially if they affect the car's value or performance.

Yes, breakdown cover is a popular optional extra that many classic car owners choose. Depending on the level of cover you select, it can cover roadside assistance, home start services, and even European breakdown assistance. This ensures you're supported in the event of a breakdown, no matter where you are.
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