This is a question that often comes up and the answer is an interesting one. The short answer is: “Yes, you can insure your classic car with an ordinary car insurance policy”.
However, this may not be the best thing to do so let’s have a look at some of the reasons why.
Both a specialist classic car insurance policy and an ordinary car insurance policy offer the usual three levels of cover with those being fully comprehensive, third party fire and theft and third party. However, classic car insurance also offers another level of cover known as Laid Up cover.
Many owners of classic cars only take out their vehicles during the spring and summer or spend a considerable period of time in restoring the car during the winter months when it will be kept in the garage. Laid Up cover will provide protection for the car should it be stolen or damaged whilst in the garage.
You probably do not drive as many miles in your classic car as you do in the family saloon. With classic car insurance some insurers allow you to cover your vehicle for very low annual mileage such as only 1,000 miles per annum up to a maximum of around 7,500 miles a year. This will have an impact on the premium in a positive way for classic car insurance as there is less risk of the car being damaged if it only travels 1,000 miles a year.
Another potential benefit with classic car insurance cover is what is known as Agreed Value cover. This enables you to have your classic vehicle insured for a realistic up to date value as opposed to a “depreciating value” that is what normally happens with a modern car.
So, it is probably a sensible idea to arrange classic car insurance to insure your classic car.