Classic Car Insurance
Many owners of classic cars think of their cars as their babies. If you are a classic car owner yourself, you will know that you would almost rather die than have something bad happen to it! Classic cars can often take on a character of their own and almost feel like one of the family. You wouldn’t write off a member of your family, and would always want to make sure that they are protected. The same is true of your classic car. Classic car insurance can give you peace of mind, that should anything bad happen, your car will be covered.
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What Counts as a Classic Car?
For insurance purposes, any car over 15 years old can actually be termed a classic car. However, the definition of classic car largely depends on the individual insurers.
Classic Car Insurance Rules
Though there can be advantages to insuring a classic car rather than something more modern, it is very important to make sure that you read the policy documents carefully when considering taking out a particular classic car insurance policy. You must make sure that it is suitable for your needs.
For example, some dedicated classic car insurers may place restrictions on annual mileage, on the assumption that you only drive your car on weekends/ holidays and not for a daily commute. If you do drive your classic car every day, you will need to make sure you have a high enough mileage allowance.
How Much Does Classic Car Insurance Cost?
Fortunately, you should not have to spend too much to insure a classic car. Insurers often offer competitive prices for classic car insurance. This is because classic cars are generally cherished cars that have been very well maintained. They may also not be driven all that often, which means that they will have low mileage. This means fewer accidents, less overall risk and wear and tear, and potentially also cheaper car insurance for a classic car owner.
The right vintage car could be one of the more affordable options for young or newly qualified drivers who are looking for a vehicle that will not be too costly to insure.
What is Agreed Valuation Car Insurance?
The true value of classic cars is sometimes hard to establish. You may wish, before you arrange insurance, to get an agreed valuation on the car. Some insurers will be able to offer this service. A dedicated classic car insurance company may also be able to help you with salvage retention. This means that if repairs will cost more than a new car, you will have the right to buy it back, and can strip the car for parts of possibly even repair it and get it back on the road.
