Classic Car Insurance
Classic Car Insurance is insurance for older cars of high value, whilst there is no insurance description or legal description for what constitutes a classic car itís generally any car that is out of production, cars where you can no longer easily buy the spares required are also classified as classic cars.
Classic Bikes And Military Vehicles
Itís not just classic cars but classic bikes and military vehicles like tanks and troop transports that are also classified as classic cars.
The best insurance rates for classic cars are from specialist insurance companies dealing with classic car insurance, with a prestige or vintage car that is worth a great deal of money your want high quality cover from experts that understand classic cars.
Not all classic cars are in general use, so if you want cheaper insurance you can still get insurance for a car thatís not used daily, you still have insurance if an accident occurs such as another driver hits your car whilst it is parked or at a show but because the car is not in general use the insurance is cheaper.
Statutory Off Road Notification
A car that is not in use on the road is called SORN insurance or laid up insurance, SORN is the Statutory Off Road Notification you file with the DVLC (Department of Vehicle Licence Centre), this means that the car is not parked on the road or used on the road, if you have a classic car in storage or transported on a trailer then you might want insurance against any damage caused by a third party but donít want to pay for full insurance then SORN or laid up insurance is the way to go.
Classic car insurance experts will be able to price your classic car more accurately than a standard vehicle insurer, often online forms just donít have the options available to detail your classic car and the quote that is generated is as if your car is an Ďold bangerí and not a classic car, specialist insurance from classic car experts know what questions to ask to give you the best insurance deals.
Look for insurance companies with UK based call centres so when you have a claim itís easy to contact the insurance company and explain the reason for the claim, especially with classic cars where the claim or details your providing may not be easy to understand or explain.
Classic car insurance includes kit cars, and for a kit car often the car does not need to be old and out of production as with a kit car the parts are already hard to buy or replace.
Modified Car Insurance
As well as kit cars, modified car insurance is for cars that are not as they were produced from the production line but have been altered in some way, this might be a bigger engine, bigger wheels, conversion into a stretch limousine or other modification, standard car insurance is difficult to get for modified vehicles because the modification is an unknown, will the vehicle breakdown more often or cause an accident due to the modification, so specialist insurance companies specialise in car modification insurance as they can better gauge the risk.
You can insure classics just as easy as regular car insurance, you just canít buy insurance from a regular car insurance company because they wonít have the expert knowledge to assess insurance risk or your claim.
You might think that classic car insurance is more difficult to get than regular insurance and it is if you try to buy classic car insurance from a regular insurance company, you need to use a specialist classic car insurer.
Low Annual Premiums
For low annual premiums, donít take out more insurance than you need, for example if you have declared SORN and keep your vehicle off road then why pay for the same insurance as those who have their vehicle on the road, tell the insurance company that you have your vehicle laid up off the road and enjoy cheaper insurance.
Cheaper insurance can be had if you have agreed value insurance, this is when you agree with the insurance company the value of your car, then if your car is written off (damaged to the point that the insurance company feel it is too expensive to repair) then the insurance company will just give you the agreed amount of money, you can use this money for anything you like, buying another classic car for example.
Agreed Value Insurance
Now itís worth noting that if you have an agreed value insurance plan then you might want to agree scrappage, this means that you can buy your own car back form the insurance company for a scrappage price (assuming the insurance company have paid out on a claim that results in the car being scrapped or written off).
The reason to agree scrappage with the insurance company is so that you can still own the car and rebuild the car or use the car for parts, this is important if the car is rare and a prestige or classic car were you want to have access to the parts.
Of course, itís not only classic cars but classic military vehicles, for example a second world war troop carrier which is unlikely to be easy to replace so if the vehicle is scrapped (so you can have the insurance money due to a road traffic accident for example) then you can buy the damaged vehicle back again for spares or repair.
Third Party Fire And Theft Or Fully Comprehensive
Insurance coverage can be third party, third party fire and theft or fully comprehensive, if you have third party insurance, realise that any damage to your own classic car will not be covered by your insurance (only the other party, the third party) will be covered.
For a classic or prestige car, your be worried about damage to your own car as much as damage to the third party so it would be a false economy to only get third party insurance, for a classic car fully comprehensive is by far the best option that way any damage to your own car can be claimed on the insurance.
It's not just classic cars that can have classic vehicle insurance but classic motorcycles too, classic bikes can be very expensive for all the same reasons that classic cars are expensive and irreplaceable, if the motorcycle is out of production and no parts can be easily purchased it will be classified as a classic bike and your need classic insurance.
The problem with regular insurance and regular online quote forms is that the standard insurance quote will think that you just have an old car of very little financial value, the quote engine will not realise that you actually have a classic car, use a standard insurance quote and the cost of the insurance will be high (because it is an old car or bike) but the value of the insurance policy will be very low as your car or bike will only be considered to be worth the scrap value.
It's not just cars and bikes that can be considered to be classic cars, there are modern classic vehicles like transit vans or sports versions of production cars that whilst should be correctly called a modified car are also insured on classic car insurance, itís a classic in the sense that it is irreplaceable, either because the vehicle is very valuable or because it is impossible to get the parts again (especially true of a modified vehicle).
Free quotes are always available even for classic cars, just remember to choose a specialist classic car insurance firm and not standard car insurance, your always get a fee quote and possibly a discount too, discounted premiums are available when you have more than one car, generally two or more classic cars are required to have discounted classic car insurance, however if the insurance company also insure modern cars (cars that are not classics) then you might be able to get cheaper multi car insurance where one car is a classic and the other car is a modern or everyday car.
Other options worth considering are free EU cover for ninety days (three months free European Union insurance), this means that for any ninety-day period you can take your classic car abroad and have free insurance cover in Europe, check that it offers the same protection as UK based insurance as the European policy must cover classic cars and not just be standard car insurance.
Static Car Insurance
If you have a concourse car or show your car at static shows then you can get static car insurance, this is cheaper than classic insurance for a car you will be driving on the road, static car insurance is for show cars that you put on the trailer to take the car home again after presenting at a car show, the car will usually have SORN declared and be kept off road and not driven.
With a 24 hour claims hotline you can phone the claims line and get your car repaired, the insurance company will usually give you a loan car this might be a prestige car (depending on the value of your classic car) but will not be a classic or vintage car, just a car that you can drive on the road until your own classic car has been repaired, remember that classic car repairs take longer and cost more money than regular car repairs so you want to make sure that the insurance company provide a loan car or you may be without a car for an extended period of time.
Classic Car Club
If you are a member of a classic car club you might be able to get a classic car club discount on your insurance, many classic car clubs have an insurance provider that is an expert at insuring a specific make or model of car and they are usually expert in providing such insurance, remember though that your car club will usually be receiving a commission for referring you to their preferred classic car insurance provider and this might mean that youíre not getting the best deal or the best insurance but just the insurance that offers a commission to the car club.
Laid up cover is cheaper than cover for a car that is used on the road and thatís because the risk of something happening to the car (the risk of a claim) is that much lower, there is still risk, the garage may flood or the garage roof might leak or someone may vandalise your car, but reduced risk means reduced insurance premiums, but remember with laid up cover you are not insured to drive your car on the road and if you do you will have no insurance cover and be driving illegally.
Many wedding cars are classic cars in their own right, Rolls Royce, Mercedes, Bentleys, Daimlers and Jaguars are all popular wedding cars with wedding car insurance you need to be insured for the damage that a passenger in the car might do, for example smoking in the car or physical damage and your also need to be insured for any injury to your passengers for example if you have an accident and the passenger suffers whiplash or other injury.
You might also wish to consider event insurance as your passengers are renting your car to take them to the church, should your car breakdown and be unable to take them to the church on time then you donít want to find yourself being sued and want robust insurance that will pay out for such a breakdown.
Classic car specialists often will know insurance companies that they can recommend, the same warnings apply as to car club insurance in that the insurance the specialists recommend might not be what is best for you and your car but might be what pays the specialist the most money in commission.
Vintage vehicle protection is the same as classic car protection but is often applied to military vehicles where technically they are not a brightly polished thing of beauty but might very well be a tank or other military vehicle, they are vintage without necessarily being classic, the same insurance polices apply to both, its specialist insurance where the make and model of the vehicle wonít be appearing in any online insurance application forms.