Do I Need Classic Car Insurance?

Many owners of classic cars wonder - do I need classic car insurance? Anyone who owns a classic car certainly does. A lot of owners are not clear about when they need to insure their classic or collector’s vehicles. As soon as a vehicle is legally in your name and belonging to you, it needs to be insured.

Why Do I Need Classic Car Insurance?

As soon as you have that title, before you drive or otherwise transport your car to your home or its storage facility, you need to make sure that it is insured. If there happened to be an accident during that first trip in your newly obtained classic car and you did not have it covered, you would simply lose the money that you have paid for it or would have to pay for its repairs out of your own pocket. Do not let your insurance lapse during storage periods, either. If you tend to store your car throughout the winter and bring it out for shows or joy rides only after the coldest weather has passed, keep the car covered by insurance the entire time. In the event of a fire, theft, or some kind of accident in your garage or storage facility, your car could be damaged or stolen and not have coverage for repairs. Keep in mind that your homeowner’s insurance policy will not cover damages to your vehicle even if it is harmed while in your garage.

When to Insure a Classic Vehicle

Though most classic car insurance providers refuse to cover classics for involvement in racing or track uses, these cars still need to be insured while they are being transported, driven on UK roads, or staying in storage. If your classic vehicle is being restored, it should be insured in this case, as well. Also make sure that it is covered under the insurance policy of the person who is restoring it. If your car is damaged or stolen while in their care, it will be much easier to file a claim with your insurance provider. Your provider will then take on the responsibility of the claim and work out all of the details with the restorer’s insurance provider to have your car repaired, replaced, or pay out its value to you.

Classic Car Restoration

As the restoration on your car progresses, you need to have the value of the vehicle reassessed every once in a while. This will ensure that your car’s full value is covered. When the restoration is finished, re-evaluate your classic car’s value again. Your insurance policy for your finished car should reflect its condition as a newly restored classic vehicle. Do not forget to include every feature and any modifications that have been made to the car’s original model specifications, as these can affect your premiums as well as how your car is covered. Anything that you leave off the policy, whether this is done accidentally or purposefully, can invalidate your policy in the event that you have an accident and your claim could be rejected.

Transporting Your Classic Car

If you are asking, “Do I need classic car insurance while my car is being transported?”, the answer is a resounding affirmative. Most companies that provide auto transportation have their own motor insurance policies to cover the vehicles in their care. However, this insurance typically covers only around £150,000, depending on variations between companies. This coverage usually only covers losses caused by negligence. If there is an accident that is caused by another person on the road or it is deemed an act of nature, transport companies’ insurance policies will most likely not cover this kind of damage. You need to insure your classic vehicle for the time before it is picked up, while it is in transit, and after it has been successfully delivered.

Getting Classic Car Insurance Online

After you have asked yourself, “Do I need classic car insurance?” and subsequently answered yourself with a “Yes!” - try looking online. Many UK car insurance comparison sites now have the option to search for classics and collectible vehicle insurance quotes. You can find affordable policies to compare within just moments, allowing you to locate a cheap policy that provides you and your beloved classic with the coverage that you need.


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