Classic Car Insurance

There are many drivers who choose to purchase classic cars. Most of the time, they have wished for these cars during their youth but do not have the money to buy one.

Having a classic car is just one factor, but the other important aspect is getting the least expensive classic car insurance. Usually, the cost of a least expensive classic car insurance policy is less than the policy for a modern vehicle. This clearly shows that a vintage car is usually garaged and driven for fewer miles every year. The bottom line is this type of car is better cared for.

Nevertheless, premiums for vintage cars can still vary a lot. To help you find the right vintage car insurance policy, you can take note of the following tips.

First of all, you need to have an agreed valuation when you insure your classic car. The agreed valuation is the amount that will be paid in case the car is written off or stolen. You have to be certain that this valuation is guaranteed because some insurers may refuse to pay. To have a guarantee, you may be required to pay extra meanwhile some car insurance providers would like to have an independent valuation.

Next, find out if you can increase the agreed valuation each year. This is because the value of most classic cars increases as the years go by and it can become very costly to replace it the following year. Do not forget to consider the costs of accessories including rare embellishers which can be quite pricey to replace.

Think about a limited mileage policy on your vintage car. You can set the mileage from the range of 1,500 to 10,000 miles. In the event that you are very close to exceeding the limit, you should find out if mileage can be adjusted upwards in the middle of the insured period.

Also, consider the performance of your car. If you have a high-performance classic car, it is possible that you have to pay more for your insurance as compared with the typical vintage car. This is due to the fact that high-performance classic cars are prone to accidents resulting in more costs to repair, particularly if young drivers are at the wheels.

Classic Car Insurers also argue that changes such as lowered suspensions can adversely impact the handling of the vehicle. This is applicable to vintage cars that are prestige, modified, kit-built, and imported or have a powerful engine.

But do you know that there are tricks that can be done to get cheaper car insurance especially for high-performing vehicles? This means you have to know the difference between “sports” high performance such as Mercedes, Porsche and a “modded-up” car which can become more expensive to insure.

And if you can wait until you are 30 years old, you can get cheaper premiums because of your age and hopefully because you have a no-claims history.

Finally, you can go to a specialist car insurance provider who is knowledgeable about the type of vehicle you have as well as what claims are suitable for you.

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