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Classic car insurance

Classic car insurance

At Compare the Market, we offer car insurance for vehicles manufactured from 1970 onwards. If your car’s older than that, you may need to find specialist car insurance.

Daniel Hutson
From the Motor team
5
minute read
posted 24 JANUARY 2020

What counts as a classic car?

Ask motorists for their definition of a classic car and, chances are, you’ll get answers ranging from an American car to an import. The same is true of insurance providers – there’s no single definition.  
 
Essentially, a vehicle can be considered classic for insurance purposes provided it’s at least 15 years old. Insurance providers will also take annual mileage and condition into account.

Is classic car insurance cheaper than regular car insurance?

It can be. This is because classic cars are often driven less than regular cars and tend to be well looked after. However, if your insurance policy includes a mileage cap, you must be very careful not to go over it without telling your insurance provider. 

I’m looking for cheap classic car insurance – what should I consider?

The good news is that classic car insurance is a competitive business. Insurance providers know that owners of classic cars tend to maintain them well and drive them responsibly. You’re valued customers, which means they’re keen to attract your business.  
 
Our advice is to compare a range of quotes and check out the deal that’s right for you. 

What’s an agreed classic car valuation?

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. 

What are the pros of buying a classic car?

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.  
 
Like art or wine, classic cars can be a great investment. The most expensive one ever to sell was a Ferrari 250 GTO, which fetched a whopping £52 million. 

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

There are a few ways that can help cut the cost of your premium:  

  • limit your mileage – if you agree to an annual mileage limit, you’ll probably get a decent discount. Just make sure the mileage limit you agree is generous enough – you don’t want to invalidate your policy by exceeding it
  • increase your security – your classic car might attract the attention of thieves, and its age probably means 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 cars with modifications, 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. If you fail to do so, you might find your cover is invalidated

What classic car insurance can I compare with Compare the Market?

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 Compare the Market means you get a whole year of Meerkat Meals and Meerkat Movies*.

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