When Is A Car A Classic For Insurance

For tax and mot purposes hmrc defines classic cars as being at least 15 years old with a value of 15 000 or more. First you ll need to find an insurer but you ll also need to determine a value for your new baby and work with that insurer to find coverage that protects your investment and helps you replace or repair it in the event of an accident. Some car insurance companies have different types of policies for old cars subject to designations such as antique vintage collector or historic policies that depend on age and use.

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Some may consider cars only 10 years of age as eligible.

When is a car a classic for insurance. We ve rounded up the classic car definitions from several providers. Classic car insurers and brokers however have varying definitions of what counts as a classic model. These are often known as modern classics and can be considered as a classic car despite their age e g. Some insurers consider a car of this description that is only greater than 10 years old to be classic.

We offer 3 levels of cover comprehensive third party fire theft or third party only. The rules and qualifications for insuring your car as a classic will vary based on the company you re working with and where you live. For example geico and grundy require cars to be at least 25 years old while state farm and safeco require cars to be at least 10. Defined by many companies as being 19 to 24 years old restored in good working condition and greater than the average value of other autos of the same make and model year.

A 1989 volkswagen golf gti. If your classic car is 25 years old and you already insure a private car then you re eligible for our classic car insurance. Because all insurance companies have their own underwriting department that essentially evaluates risk and monitors exposure it s difficult to create a set of hard and fast rules regarding what defines a classic car. Classic car insurance companies don t all have the same requirements to qualify your car for coverage.

Most don t use the same strict criteria as the ccca. We know how much effort and hard work it can take to get a classic car road ready so we offer tailored insurance just for you. The best classic car insurance is designed to address valuation in a way that provides better coverage by using an agreed value or guaranteed value to determine the coverage amount. Some insurance companies group all classic type cars under the general umbrella of classic car insurance or will separate them out individually.

In other areas the age limit is higher at 20 or even 25 years old. The age requirements for classic car insurance vary by company. Insurers will have their own set of criteria when determining if a car is a classic or not which is why it s a good idea to compare a range of quotes from different insurers. Here in ontario most companies will consider a vehicle over 15 years old a classic.

Classic car insurance is similar to the coverage you have on your other vehicles but there are some important differences that you need to be aware of.