Classic car insurance

Are you a lover of the classics? At Comparethemarket, we can help you compare classic car insurance quotes for vehicles manufactured from 1970 onwards - and give you some pointers if your car’s older than that and you need specialist car insurance instead.

Are you a lover of the classics? At Comparethemarket, we can help you compare classic car insurance quotes for vehicles manufactured from 1970 onwards - and give you some pointers if your car’s older than that and you need specialist car insurance instead.

Kate Hughes
Insurance expert
5
minute read
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Last Updated 14 NOVEMBER 2022

What counts as a classic car?

A classic image surrounds the classic car. You know the one - a red and chrome machine, the roof down, darting through sunny summer lanes with a throaty growl and smiling passengers.

We think of a classic as something from a stylish bygone era. In fact, a vehicle can be considered classic for insurance purposes as long as it’s at least 15 years old. Insurance providers will also take annual mileage and condition into account.

Ask owners for their definition of a classic car and, chances are, you’ll get answers ranging from an American vintage car  to an import. The same is true of insurance providers – there’s no single definition.

What is agreed value?

This means you agree upfront with your insurance provider how much your car is worth, rather than relying on market value. So if you have an accident and your car is written off, you’ll be reimbursed the agreed amount.

There are many factors that can affect the value of your classic car as time goes on. If you feel that the agreed value in your policy no longer reflects the car’s true value, you’ll need to renegotiate with your insurance provider.

They’ll need evidence as to why you think your car is now more or less valuable. This may be because you’ve had work done on the vehicle, or the market may have shifted with buyers of the same model now paying more or less for it.

Can you get cheap classic car insurance?

It’s a bit of a surprise to hear that, yes, you could get classic car insurance cheaper than regular car insurance. That’s because classic cars are often driven less than regular cars and tend to be well looked after. However, some classic car insurance policies include a cap for limited mileage - and you need to be very careful not to go over that cap without telling your insurance provider.

How can I reduce the cost of my classic car insurance?

Here’s a few ways you can help cut the cost of your premium to get the cheapest classic car insurance you can:

  • Limit your mileage  – if you agree to an annual limited mileage, you’ll probably get a decent discount. Just make sure the mileage limit you agree is generous enough because exceeding it will invalidate your cover.
  • Increase your security – your classic car might attract the attention of thieves and its age could mean it’s poorly protected. Fitting an alarm and a tracking device could cut the cost of your cover. And if you can, keep the car in a locked garage overnight.
  • Don’t modify the car  – some insurance providers refuse to cover modified cars, and those that will insure you are probably going to charge more. A modification doesn’t just mean adding a flashy exhaust. You’ll need to disclose any additions or upgrades, no matter how simple or common. If you fail to do so, you might find your cover is invalidated.
  • Join a classic car club – while not a guaranteed way of getting the cheapest classic car insurance, joining a classic car club can sometimes reward you with exclusive discounts.
  • Shop around and compare quotes – one of the quickest and easiest ways to get a cheap classic car insurance policy is to compare quotes from multiple providers. At Comparethemarket, we can help you do exactly that. Just enter some details and we’ll show you quotes from a variety of insurance providers, allowing you to pick the one that best suits you and your car.

What add-ons are available for a classic vehicle insurance policy?

Just like a standard car insurance policy, you can get a number of classic car insurance add-ons. These include:

  • Breakdown cover – if you were ever unfortunate enough to break down while driving your classic car, the right breakdown cover will ensure it’s secure, well looked after and repaired as soon as possible.
  • Legal protection – if you’re involved in an accident, this added cover can allow you to claim for any legal costs associated with the incident.
  • European cover – if you enjoy taking your classic car abroad, whether that’s driving through the Alps or cruising down to the south of France, this add-on will ensure you’re covered to drive on the continent.

Why should you buy a classic car?

The world of classic cars seems like an expensive one for those on the outside looking in. But there’s a few cost-saving perks.

If your car’s more than 40 years old, you don’t need to have it MOT tested. And if it was manufactured before 31 December 1977, you don’t need to pay vehicle tax. You’ll need to apply for a vehicle tax exemption though.

Does my classic car need an MOT?

If your car was built more than 40 years ago, it doesn’t need an MOT - although you can still have it tested voluntarily. But if your car has had substantial work performed on it, whether that’s a new engine or significant body work carried out in the past 30 years, you may find that you’re no longer exempt from having a valid MOT.

If you have any doubts, you can find government advice here.

What classic car insurance can I compare with Comparethemarket?

We independently compare a wide range of the UK’s most trusted insurance providers to find classic car insurance deals.

We’ll show you policies based on price, cover level, add-ons or payment terms, helping you compare policies based on your needs.  

And that’s not all. Buying car insurance through Comparethemarket means you get a year of fantastic rewards on us*.

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