If you have a love for old cars and are considering purchasing one, you may be wondering about how easy it is to get insurance cover for your new/old pride and joy. Well, in this article, we are going to look at car insurance for older vehicles to discover just how easy it is to get the insurance cover that you need to not only ensure that you are legal but also covered in case the worst happens. As well as this, we will also look at ways of sourcing classics if you are in the market to buy one.
How Easy Is It To Insure A Classic Car?
Surprisingly easy! There are a huge number of companies out there that are more than happy to insure a classic car, and also a huge number of specialist firms whose main business is in the insuring of classic cars. You will essentially have two options when it comes to insuring a classic, and the one that you choose is going to be related to the ways in which you wish to use the car. The first option is insuring your classic car with a mainstream insurer. This is the ideal option if you are looking to run a classic as an everyday car. While classic cars might be a little long in the tooth, it is surprising just how many people use them as a daily driver. For these people, a standard insurance policy is likely to better suited to their needs. The 2nd – and more usual option – is to take out specialist classic car insurance. If you plan on using your classic sparingly (i.e. very limited mileage), you are going to save money by using a classic car insurance policy.
Another big difference between the two types of insurance policies is the way that cars are valued. On a mainstream policy, insurers will look at the market value of the car as a way of estimating any payout. This is ok for modern cars where there are plenty on the road, but for older cars, value is going to be an issue – the gap between a poorly kept model and a mint condition car is likely to be massive. The vast majority of classic car insurance policies will allow you to guarantee the value of your car should the worst happen. To do this, they will value your car before you insure it, giving you peace of mind should the worst happen. While many insurers offer this service, it is usually an added extra and is charged on top of the policy.
Is Classic Car Insurance Expensive?
Like a standard car insurance policy, classic car insurance premiums are going to be based on numerous factors like the age of the driver, where you live and the cost of replacing the vehicle, but because of the way that classic car insurance works (you only use the car in a limited fashion), the cost of a policy tends to be significantly cheaper than a mainstream car insurance policy. The methodology behind this is simple: classic cars are well maintained and rarely driven. Let’s be honest, the more a car is on the road the more likely it is to be in an accident, classic cars are rarely used and therefore much less likely to be in accidents. Also, due to the sentimental (and often monetary) value of the car, it is not likely that the car will be driven in a dangerous way.
My Car Is Precious, How Much Would I Get Back After An Accident!
If your car is insured on a classic car insurance policy then it is likely that you have agreed a fixed value for your car. In the event of a total loss, this is the amount that you would get back (minus any excess that you have in your policy). If your car is damaged and needs to be repaired, your insurer should either offer to have the car repaired for you, or allow you to choose where to have your car repaired. Often, a VAT registered garage is sufficient to satisfy an insurer, but you want to ensure that the garage has the skills and craftsmanship to work on your vehicle.
If you are local to us (Norfolk) then we can take on your accident repair. We can happily work with many of the most well-known insurers to get your car back on the road in perfect condition. While many garages are great at what they do, few have the specialist skills required to carry out complicated work on classic cars. Many of today’s techniques are unsuitable for classics, and you need the right repairer to ensure that the job is completed correctly.
Sourcing The Right Classic Car
Still looking for the right car? Here at Restoria, we can help! One of the toughest parts of owning a classic car is finding a good one in the first place. Why not work alongside our team to see if we can find the ideal car for you. As well as sourcing classic cars, we can also source project cars if you are looking for something a little bit different. Our team have years of experience taking on restoration projects that bring old cars back to life! From boyhood dreams to track day racers, our team have done it all.
So if you are looking to get started with classic cars, get in touch with us here at Restoria. Our team are experts in the classic car world and can give you all the advice and help that you need to make purchasing a classic car as easy as possible. We can also help you after you purchase with ongoing maintenance and repairs, to help keep your pride and joy ticking over for years of enjoyment. So for anything classic car-related, get in touch today and speak to our team about your requirements, we’ll be more than happy to help.