There are many different types of car insurance but classic cars are in a category all by themselves. Not only are they a car, capable of damaging others in an accident, they also have a much greater value themselves and require a greater level of cover, owing to their extra significance. There are certain criteria placed upon cars that are eligible for this type of insurance:
Firstly, most policies require the car to be at least ten years old. Some cars can be insured as a classic if they are younger but these are generally replicas of famous cars such as the Aston Martin DB5. The cars must also be above a certain value which is typically £15,000 although this can vary from firm to firm. There is also a minimum age for the drive too who must be at least 21 before taking out classic car insurance.
Classic cars cannot be used as the main vehicle of the owner who must use another car for their day to day personal transport needs. They are generally limited in terms of annual mileage and the occasions on which they can be used. Special events form the majority of exceptions. The typical limit is around the 6000 miles per year mark although this can be much lower for more valuable cars.
Many insurance firms can offer this type of insurance although some do not have the necessary knowledge or inclination to deal with such cars. The best option is normally to find a firm that specialises in classic cars as they will be able to provide you with the best cover for your needs.
There are many cars that may meet these criteria that are of no real interest. There isn’t any particular obligation for you to pay extra for a classic car insurance policy. However, if you want to cherish your old motor then a classic insurance policy could be the best way forward. You just need to make sure your car fulfils the criteria above and the individual terms of your insurer.
