It is often the case that classic car insurance can sometimes be far less expensive than insuring a regular vehicle. Insurers are believed to take into account the sentimentality that owners attach to their cars as this means they are usually looked after a lot better.
Classic cars are not only handled with greater care in the garage, they are also driven carefully on the road. This implies that greater care will result in fewer accidents and therefore fewer claims, especially as the car may spend less time on the road. This assumes that time on the road is directly relate to the number of accidents.
Classic car insurance can also benefit from a limited mileage use. Should the car spend more time on display or in the garage than being driven around then the owner will pay less for insurance. Drivers will be charged less if they don’t exceed the agreed mileage limit.
Prior to purchasing insurance for your classic car it is always worth getting an accurate valuation. Some classics increase in value every year, so it’s best to make certain that insurers are aware of this before you take out the policy, so that it can be amended accordingly. Despite the potential extra cost (however some providers offer free valuations), upon making a claim, you are certain that the car will be covered for its full value.
Extra and repair parts can often turn out to be more of an extra cost than you originally anticipated, especially if your motor is a rare classic. In some cases, parts for repairs might even need to be imported, which will more than likely bump up the cost of your insurance if you need to make a claim.
Taking all these things into consideration, it is worth remembering to shop around to find the right car insurance – be it for a classic or a regular car. Premiums can differ hugely depending on company, there are some providers for whom classic insurance is a speciality, and usually they may be able to offer you a better (sometimes cheaper) deal than regular insurance firms.
For more details on insuring your classic car or to find out about car insurance groups and insuring performance vehicles visit moneysupermarket.com.