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Comprehensive UK classic car insurance typically costs from £100 to more than £800 per year on average. Rates depend on the car’s age, model, market value, security features, mileage, where it’s stored and more. Limited-usage policies are cheaper than regular driving ones.
Specific factors that increase classic car insurance premiums include the following:
Key factors determining premiums include:
Occasional usage policies are cheaper than those covering a classic driven regularly. Most providers limit annual mileage.
Secure garaging, immobilisers, alarms and tracking devices help deter theft and reduce premiums.
Those with previous convictions, accidents or inexperience may pay more for cover. A clean driver history can lower costs.
Earning a multi-year no-claims bonus on another vehicle helps reduce classic car policy costs.
Insurers calculate premiums partly based on the car’s current market value. More valuable vehicles cost more to insure.
The key is finding specialist insurers with competitive premiums and policy options tailored to your specific classic. Taking the time to shop around and compare should help you find affordable cover to protect your cherished vehicle.
In the UK, many insurers consider vehicles over 15 years old with a market value of more than £15,000 to qualify as classics. Limited-production vehicles 15-20 years old can also be covered.
Consider recent sale prices of comparable vehicles. Specialist classic car valuations from insurers, price guides and club experts help determine current market value.
Most classic policies limit annual mileage, with occasional usage being cheaper than policies allowing regular driving. High-mileage classics may need agreed-value policies.
Yes, garaging helps minimise the risk of damage or theft. If only parking on a driveway, consider installing security such as an immobiliser. Insurers may require secure storage.
Classics are cheaper to insure as they are rarely used, statistically safer when driven and meticulously cared for.
Comparing specialist insurers, joining a club, adding experienced drivers, garaging, limiting mileage, installing tracking devices and opting for higher excess can all help lower premiums.
