Understanding Classic Car Insurance

What is classic car insurance?

Classic car insurance is a specific type of cover that’s there to protect vehicles that are considered ‘classics’ - that means they’re either rare and collectable or simply cherished older models. While standard car insurance has a focus on modern, everyday vehicles, classic car insurance considers the unique needs and driving habits of classic car owners.

A standard car insurance policy may not cover the true value of your classic car, meaning you could end up out of pocket, in the event of an accident whether it’s repairable or written off. When you opt for classic car insurance cover, it often includes cover for the agreed value of the car . Normally insurers will require evidence such as several photographs to evidence the condition of a classic vehicle. Footman James do not require evidence for vehicles valued less than £15,000. So, should anything happen, and you need to make a claim, you’re insured for the car’s true worth, taking into account both its condition and rarity.

We know that a classic car isn’t merely a mode of transport. It can be a passion project, an important piece of automotive history, not to mention a valuable investment. That’s why classic car policies can be tailored to offer cover for things like attending car shows, events, and even taking your car on a European motoring adventure. Wherever your adventures take you, your vintage car is protected.

Who needs classic car insurance?

If you own a style icon like a Jaguar E-Type, a vintage Mini Cooper, or a classic Ford Mustang, or perhaps a ‘modern classic’ vehicle, then classic car insurance can be a smart option . It’s designed for anyone who owns a vehicle that’s special, be it a family heirloom, a true collector's car, or a project you’ve poured years of time and effort into.

As a classic car owner, the best way to be prepared should anything happen is to have the right insurance that reflects the true value of your vehicle, its rarity and the way you drive, or don’t drive it. Even if you stick to low annual mileage or keep it safely stored away, you need a policy that takes this into consideration.

What affects the cost of classic car insurance?

Several factors will impact how much you pay for your classic car insurance:

Age and condition of your classic car

Antique cars that have been kept in mint condition can cost more to insure. That’s because they often require special parts that are harder to obtain, as well as extra attention to repair, making them pricier to restore after an accident.

Rarity and value of your classic car

Owning a rare gem like an Aston Martin DB5 or a Jaguar E-Type is an undeniable thrill, but it also means your insurance could be higher. Rare cars are harder to replace and attract more attention, which can bump up your premiums.

How you use your classic car

The way you use your classic car matters. If you only take it out for weekend drives or shows and stick to a low mileage, your premium could be lower. Many classic car policies come with mileage limits for this reason. It must also not be your main vehicle.

Storage and security

Where you store your classic can also affect the price of your insurance. If your car is kept in a secure garage or fitted with security features like alarms or trackers, then depending on the insurer you use as it demonstrates a reduced risk of theft or damage.

Your driving history

Your own driving record is as important as ever. A clean history with no claims or driving offences can help keep your insurance relatively low. On the other hand, if you’re a younger driver or have had some bumps in the road, you might find your insurance costs more.

Classic car insurance from Footman James

With Footman James you can get a classic car insurance online quotation instantly for your classic  Jaguar, Mini, VW and more. You can also add to your quote such as agreed value and breakdown cover.

Consistent with our policy when giving comment and advice on a non-specific basis, we cannot assume legal responsibility for the accuracy of any particular statement. In the case of specific problems we recommend that professional advice be sought.