Classic van insurance

Classic van insurance is an insurance product specifically designed to cover vans of a certain age and vintage. Although it works in a similar way to standard van insurance, a classic policy could offer tailored protection for your retro classic or vintage van.

If you’ve spent time, effort and money lovingly restoring your classic van, you’ll want to make sure you have the right level of cover in place.

Whether you use your van for work or for pleasure, it pays to shop around and compare classic van insurance quotes. This will help you get the protection your classic van needs, at a price that suits you.

According to HMRC, a vehicle is considered classic if it’s at least 15 years old and has a market value of £15,000 or more.

But in the insurance world, each provider has its own definition of what makes a car or van ‘classic’. Some may state that a vehicle needs to be at least 15 years old; others may say 20 or 25.

To be eligible for classic van insurance, some insurance providers may also stipulate that your van needs to be:

• Of special or collectible interest

• Your second vehicle, not the main vehicle you use every day

• Driven a limited number of miles per year

• Parked off the road on a private driveway, or in a locked garage.

Each insurance provider will have its own eligibility criteria, so it’s important to read policy details carefully.

Classic van insurance could be cheaper than standard van insurance. But the cost of cover depends on a number of factors.

Generally, classic car and van owners tend to be more careful when driving their prized vehicles on the road. They’re more likely to drive at lower speeds and for fewer miles. And they may keep their vehicle in a secure place like a locked garage when not in use.

Insurance providers recognise the care taken to look after a classic vehicle and could offer a lower premium to reflect these factors.

Just like standard van insurance, there are three levels of classic van cover to choose from:

• Third-party – the minimum cover required by law in the UK. Covers injuries to other people and damage to their vehicles. It won’t cover damage to your own van.

• Third-party, fire and theft – third-party cover, plus cover if your van is stolen or damaged or destroyed by fire.

• Comprehensive – the highest level of cover available. It covers all the above, plus damage to your own vehicle, even if you’re at fault.

With specialist classic van insurance, you might also be able to benefit from:

• Agreed valuation – you and your insurance provider agree on how much your van is worth, including any restoration work, when you take out the policy. You’ll get this agreed amount, not the market value, if your van is written off or stolen.

• Laid-up cover – offers third-party, fire and theft cover if your van is stored away over winter or being restored. You’d need to declare it as SORN and keep it off the road during this time.

• Limited mileage discount – you may get a lower premium if you agree to a yearly mileage limit.

• Salvage retention – get back what’s left of your van if it’s written off, so you can restore it.

• Events cover – extended cover for rally days, shows or events.

• Discounts for club membership – you might get a discount on your premium if you’re a member of a classic vehicle club.

The cost of classic van insurance doesn’t just depend on the age and value of your vehicle. Other factors can affect the price of your premium, including:

• Your age

• Your driving history, including past claims and any driving offences

• Where you live

• Your job

• Your no claims discount

• Named drivers added to your policy

• Where you park your classic van at night

• How you use your van – for private or business use.

• Limit your mileage – if you don’t drive that often, a low mileage policy might be cheaper.

• Improve van security – security devices like an alarm, immobiliser or tracker might reduce the cost of your insurance.

• Join a classic van club – you may get a discount on your premium if you’re a signed-up member.

• Shop around – Comparing van insurance quotes from a range of providers is another way you might find cheaper classic van insurance.

At Compare the Market, we offer van insurance for vehicles manufactured from 1970 onwards. If your vehicle’s older than that, you might need to consider specialist van insurance. Just let us know what you need, and we’ll compare van insurance deals to help you get the right level of cover at price that suits you.

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