If you have not owned a classic car before it is important to realise that there are basic differences between what is known as a standard car insurance policy and the cover offered under one defined as classic car insurance, from a specialist car insurer.

Will Classic Car insurance cover you?

One way to establish this is to phone a classic car insurance brokers and enquire.

Different car insurance companies have different definitions of the age and type of vehicles that can be covered under this type of cover..

The major variation between a standard policy and those offered by the classic car specialists is in the way that you use your classic vehicle, and in particular, how much you drive it.

The large mainstream insurers and price comparison sites will offer cover for older cars but will charge an additional premium because of its age. More importantly you will only be offered the current market value replacement if the car is covered under a mainstream policy and is deemed to be a write-off when you claim.

With a standard car insurance policy on a replacement like for like basis, the value of the car is often set by the market value at the time of a claim, typically taken from one of the car price magazines such as the UK’s Glasses Guide.

The amount you will be probably receive for a write-off will be at the current market value of your car which is an annual depreciating amount. Inevitably, if you own a classic car and insure it under a standard policy contract, this leads to under valuation and under insurance of the true value of the car.

If you make changes to your lifestyle and you will be eligible for all sorts of non standard specialist car insurance that is tailored to a particular genre or lifestyle group or club.

Classic car insurance policies are now based primarily upon usage limits and consequently tend to reflect the fact that classic cars are used differently than a normal everyday car, although the all types of use will still apply.

Types of Use
a. social, domestic, pleasure

b. business and commuting

c. for hire and racing

Many a beloved classic motor will stay under wraps in the garage for many a month and is only brought out and paraded for special occasions and events.

Most specialist motor underwriters therefore appreciate that you may need a more tailored and flexible type of car insurance for a classic car, one that allows you to fit the policy around what is effectively your lifestyle risk. Your risk levels are calculated upon the way you use the classic car and the number of miles distance you cover in that car each year.

These so called rating factors are adapted to play a much larger role in the calculation of a classic car insurance premium than the traditional factors that weigh heavily in standard car insurance premium calculation, such as Age or Gender.

Price has tended in the past not to be a large driver in the classic car insurance market, where quality of cover for cherished vehicles has always been seen as the primary marketing message. Underwriters have appreciated that the classic car is quite often considered as a ‘baby’ within the family unit and may in the past have taken advantage of the object irrationality when considering price.

As with all car insurance it is important to compare both covers and prices when shopping around. There are many specialist classic insurance providers available online today and many specialist schemes that are targeted at particular classic owners. Compare the premiums offered by these with those from the price comparison sites, but if you want to avoid disappointment if you need to make a claim, be sure to understand the difference in policy covers.

The Internet has made it very easy to get classic car insurance quotes that were previously only available from specialist car insurance brokers on the high street.

You can find classic car insurance companies offering special deals for your particular classic by searching for your model type e.g Chevrolet classic car insurance.

To compare classic car insurance online visit the UK’s leading classic car insurance specialists or call 0800 089 0182