Is Classic Car Insurance Cheaper Than Normal?

Is Classic Car Insurance Cheaper Than Modern Car Insurance?

When looking at like-for-like insurance, classic car policies can be cheaper than many insurance policies and suppliers for modern daily-drivers. Because classic cars are often seen to be lower risk and generally have a reduced claim frequency, Footman James can offer a cheaper premium for classic car insurance when compared to a modern car policy in most cases. At Footman James we never try and overcomplicate, so here a few things worth knowing about classic car insurance.

Classic car insurance is often cheaper than normal car insurance packages

If you’re looking at purchasing a classic car you can be secure in the knowledge that, in almost all circumstances, you can expect your premium to be cheaper than that for a similar-sized modern vehicle. Not only are classic car owners generally more mindful of their pride and joy, the vehicles themselves are used mostly for pleasure and tend to spend a large amount of time in a garage or lock-up - and so kept out of harm’s way.

Classic car insurance can cost less because classic cars are considered as a lower risk

Classic cars typically enjoy a low annual mileage (the average UK modern car travels 9,000 miles per year) and are generally involved in fewer accidents. Also, eligible cars are usually more than 20 years old and, as such, are rarely used all year round, reducing risk.

You don’t need a second car to have classic car insurance

In many cases, we can insure your classic even if it’s your only car - you may use public transport or a motorbike for your daily travels.

You don’t need to have two cars, but just make sure that your classic is more than 20 years old, you have a limited mileage and don’t use it for business use. 

If you’re unsure of whether your vehicle is eligible for classic car insurance, give the Footman James specialists a call on 0333 207 6120 or request a quote online. Phone lines are open from 07:00 – 21:00 Monday to Friday and 09:00 – 17:00 on Saturday.