Classic car owners may be interested to hear that motor insurance companies paid out a record sum to meet claims in Q2 of 2026 according to figures recently published by the Association of British Insurers (ABI) and it may surprise you just how much was paid out.

In the second quarter of 2026, motor insurers paid out a staggering £3.2 billion to meet claims for motor vehicles. This figure will no doubt of included claims for such things as vehicle theft, damage to vehicles and broken windscreens.

Apparently, 5% more was paid out in Q2 of 2026 when compared with the previous quarter. Furthermore, the amount paid out in the second quarter of 2026 was 7% more than was paid out in the second quarter of 2025. We are sure that you will agree they are big increases and are figures that motor insurance companies could have done without.

It is interesting to note that the average amount paid out per claim in the second quarter of 2026 was £4,900 with this being 4% more than in the first quarter of 2026.

The average amount paid to meet windscreen repair costs amounted to £283. This was an increase of 7% when compared with the previous quarter. This seems a large rise in such a short period of time.

One would have thought that if motor insurance companies paid out increasing mounts to meet claims that there could possibly have been a comparable rise in motor insurance premiums but this was not the case. Apparently, the average premium rose by £6 per annum – a rise of 1% – in the second quarter of 2026.

One of the reasons why motor insurance companies have paid out more to meet claims is going to be due to newer vehicles often being fitted with more gadgets such as more sophisticated sat navs, air bags, radio systems, lighting both inside and outside the vehicle and wing mirrors. If you look at say wing mirrors, they often have an indicator light built in, they are sometimes heated and they are frequently electrically operated.

Obviously, in the case of elderly classic cars, they are unlikely to be fitted with such things unless they have been adapted in some way.

Whilst writing, may we remind our readers that if your existing classic car insurance is shortly due for renewal in the coming weeks why not make contact with us with a view to getting a competitive quotation without any obligation. We very much look forward to hearing from you.