Classic car insurance

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

At Compare the Market, we can help you compare classic car insurance quotes 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
minute read
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Posted 24 MAY 2021

What counts as a classic car?

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. 
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 which 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 will need to renegotiate with your insurance provider. However, they will require evidence as to why you believe your car to be 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 on the market.  

Is classic car cover cheaper than regular car insurance? 

It can be, 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 must be very careful not to go over it without telling your insurance provider. 

How can I reduce 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 limited mileage, 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 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. 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 cheaper 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 of getting a cheaper classic car insurance policy is to compare quotes from multiple providers. At Compare the Market, we can help you do exactly that. Just enter some details and we’ll bring you quotes from a variety of insurance providers, allowing you to pick the one that suits you, and your car, best  

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 well looked after and repaired as soon as possible
  • Legal protection – if you’re involved in an accident, this added cover will 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 simple add-on will ensure you’re covered to drive on the continent 

Why should you buy 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.  

Does my classic car need an MOT?

No, if your car was built more than 40 years ago, it will become exempt from requiring an MOT. However, you can still have it tested voluntarily. However, if your car has had substantial work performed on it, whether that’s a new engine or significant body work carried out in the last 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 are the most popular classic cars? 

With our insurance definition of a classic car, one that is at least 15 years old, we have put together a list of the top 10 most popular classic cars, based on Compare the Market data.

  1. Mini Cooper  
  2. Mini ONE  
  3. Vauxhall Corsa SXI 16V  
  4. Ford Fiesta Zetec  
  5. Volkswagen Polo E (55)  
  6. Volkswagen Polo Twist  
  7. Nissan Micra S  
  8. Renault Clio Dynamique (75) 16V  
  9. Ford Fiesta Finesse 16V  
  10. Vauxhall Corsa Design 16V 

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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