Classic cars are some of the most attractive cars on the road because their owners tend to keep them in mint condition. Classic car insurance is slightly different from your average insurance, particularly as the cars’ owners like to drive them differently. It stands to reason that if the car is used less, than cost of the insurance should be less too. It doesn’t mean that a class car doesn’t need to be insured, however.
Owners of classic cars belong to clubs and take part in road shows so that they can spend time getting to know and enjoying their favourite cars. During alternative months, when the car is not on the road, they may let their insurance lapse. It’s really important if you own a classic car to keep annual insurance payments up to date, whether or not the car is regularly on the road. Some classic cars are not driven at all, in which case, they qualify for a statutory license and are exempt from other taxes.
You might think your mum’s 1998 Nissan Maxima is a ‘classic car’, but in fact the government defines cars that are more than 20 years old and have a minimum value of £15,000 as “classic”. Insurance is slightly different in that certain motors or body parts may be qualified as classic among different insurers. It’s important to ask what exactly defines “classic” and what kind of coverage it includes when you’re looking to insure your vehicle.