Nick Artcles

 

 

Heritage Insurance offer cover for classic, vintage, modern classic, performance and supercars, with agreed value on classics and a range of other benefits including 90 days European driving cover as standard, salvage retention as standard, and a free Skytag GPS tracker available on request.
 
Save up to 25% with our flexible multi car insurance which allows classic and daily drives on the same policy, with individual no claims bonus.
 
Give us a call for your specialist vehicle insurance needs today, on 0121 248 9203 or visit our website here
 
 
 
When it comes to your classic car, getting the right insurance is extremely important. It is of course legally required for driving your vehicle any distance on the road, but beyond that, you want to protect its value and unique nature so you need to insure it properly.
 
It’s important to get the right kind of insurance policy for your classic car, rather than insuring it in the same way as your modern, regular use vehicle. You can get a standalone classic car policy, or a specialist multi car policy which allows both classic and modern vehicles on the same cover, but with agreed value on the classics.
 
The cars we use on a daily basis will depreciate in value each year, and so does any insurance payout for damage. Your classic car, if well-maintained and looked after, should hold its price and indeed, in many cases, actually increase in value. For this reason, your classic car insurance needs to be a policy that recognises this fact with agreed value
 
The insurance that you look for should be a special kind that will also include standard liability, collision and comprehensive coverage. Should you have an accident or a loss of any kind then the insurer will pay to cover the cost of any repairs or even replacement of your car as a prized and valuable classic.
Surprisingly, classic car insurance can usually cost less than your standard auto insurance, so why is this?
 
 
Most classic car owners drive their vehicles with the utmost care, keep them well cleaned and maintained, and don't clock up too many miles.
 
All of this means that you are less of an insurance risk so you should see lower premiums, up to 50% less than standard policies[i].
 
Of course, much depends on the value of your vehicle and its use.
 
Classic car insurance is only for certain vehicles though; your car must be collectable or antique, or be a limited edition – which is of particular relevance to some of the more modern vehicles. Again, you need to discuss all of this with a reputable insurance company. Many classic car insurance brokers will provide cover for ‘modern classics’, and for performance and supercars as well as traditional classics.
 
There will, of course, be particular criteria to meet before a classic car insurance policy can be issued. The number of miles you are allowed to drive per year will have a limit, you must own another vehicle for daily use, and your classic car must be stored safely. Your age may also be a consideration; most classic car insurers only offer cover to drivers who are over 25 years of age, although a few may insure 21-24 year-olds under very specific circumstances.
 

[i] According to Money Saving Expert, 2020.