As a classic car owner you will have spent a lot of time searching for and caring for your prized possession, but do you really take as much time in searching for the right classic car insurance?
Insuring a classic car may be cheaper than insuring a new car, but like anything else there are still pitfalls to avoid which could save you money and protect your prized possession. Fortunately for us the guys over at Carhoots have shared these tips for protecting your classic car.
It is worth reminding you that in previous years you could simply insure your classic car for the time you would use it. Many owners would just drive the car in summer for example. But new insurance laws requires that insurance is needed if the car is taxed which may make it difficult to insurer the car for a period of time unless you declare the car off road (SORN – Statutory Off Road Notice).
What makes my car a classic car?
So what defines a classic car? There isn”t a clear definition which places your car into the classic criteria and different insurers will have different criteria. It is essential therefore to talk to each insurer before you sign up to a premium. The details you give them will allow them to determine which is the right level of insurance for your classic vehicle. Make sure you get a number of quotes to determine how much you should be paying. According to Aviva’s car insurance tips from here, classic cars should be manufactured 20 years ago as a standard production model, used as a second car, and driven under 7,500 miles a year since its acquisition. For instance, your 1982 Austin Mini Cooper with a mileage of 6000 miles per year can already be considered a classic automobile.
How much will classic car insurance cost?
As mentioned above, different insurers have different criteria, which result in premiums varying from different insurance companies. The best thing to do is research, research and research. Mainstream insurers will give you good prices and you should use comparison sites such as Moneysupermarket.com or gocompare.com but don’t forget to look at specialist classic car insurers too who might be able to give you a cheaper quote!
Also bear in mind that classic car insurance is Australian online gambling sites have become more and more popular across the globe as the unique style and history of this diverse continent is mirrored in the casino games available. generally cheaper than a standard car as you will drive it less and they are generally well maintained!
What is covered by a classic car insurance policy?
Classic car insurance generally covers the same as a modern car, but there are a few important differences:
- Valuation of a classic car is very important. Be sure to find and agree on the true value of the car to avoid being paid the market value if the car is written off! You can get a valuation carried out by an approved and recognised industry expert before arranging your policy.
- Check the replacement parts policy before handing over any cash. This is particularly important if your car is very valuable, as you will want to be sure that any replacement parts are authentic.
- Find out about the maximum mileage as insurers set this based on the proviso that classic cars are driven less often than more modern vehicles. The limit is usually around 7500 miles per year so ask if this can be increased If necessary.
Classic car insurance for young drivers.
It is uncommon for younger drivers to be insured on a classic car, which makes young drivers higher risk and consequently they have to pay higher premiums. Again the best way to find the best cover is to research various insurers as we covered earlier, but just be willing to accept a slightly higher cost.
Gender no longer effects premiums on classic cars.
In previous years young women were charged lower premiums than men due to the statistics of having fewer accidents than young men. Now, due to the new gender ruling on any type of car insurance the European Court of Justice bans insurers from charging men and women different rates based on their sex. So bear this in mind if you are a young woman expecting to get a cheaper insurance premium.
This article was written and published by Emma Jones. Emma works for Trade Classics as an in-house journalist and copywriter and has many years” experience in the classic car sector. Why not write a reply on this article below – she”d love to hear your thoughts on her thoughts!Also, don”t forget to check out the classic cars for sale here on Trade Classics.Google
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