Before we get down to the top four classic car insurance providers in the UK, it’s important to understand what “classic cars” actually are. Classic car insurance is an insurance cover meant for classic cars or cars that are usually more than two to three decades old. These cars are collectible vehicles that have been phased out by their manufacturers or are no longer in active production. Maintaining these cars is not just about keeping them clean and sheltered but also having them covered. So the Mk1 Prelude comes under that umbrella.
Classic Car Insurance
Regular car insurance policies typically cover cars up to their actual cash value. This value is equivalent to the car’s replacement expense minus depreciation. Classic car insurance, by contrast, covers a collectible vehicle for a guaranteed or an agreed value that is mutually agreed upon by the insurer and the insured. Not to mention, collectible cars go up in value if they have been taken care of well and restored.
Best Four Classic Car Insurance Providers
Admiral’s classic car insurance covers start at just £97. The car can be secured with a single car insurance cover or made part of a multi-car insurance cover that could also encompass non-vintage or standard cars. The highlights of Admiral’s insurance cover are 24-hour emergency helpline; agreed valuation; additional multi-car discounts; and European cover up to 90 days. There’s also unlimited coverage for the car’s audiovisual equipment and a £5,000 personal injury cover, which also includes your spouse. The personal belongings and sat-nav cover ensures you receive up to £100 in case the personal belongings kept in the car get ransacked or damaged
Aviva works in tandem with Hagerty International, which is a specialist in classic cars, to provide people classic car insurance quotes. By the way, Hagerty International possesses the knowledge and is passionate about classic cars. To be eligible or receive a classic car insurance quote from Aviva, your classic car should be your second car; must have been made before 1990; should not have crossed 5000 miles; and be valued above £2,500. And a premium discount is possible if the car’s mileage is lower than 5000 miles. The salient features of Aviva’s classic car insurance are agreed value at zero additional cost; cover for trials and public road rallies; option to choose a laid-up or comprehensive cover; choice of repairer during a claim; complete UK/European recovery and breakdown; and £100,000 of legal costs cover.
RAC’s classic car insurance is customised to meet you and your vehicle’s requirements. To qualify for the cover, the car should have been manufactured before 1990. Even cars made after 1990 could be considered but that would need a discussion with RAC. RAC’s classic car cover is not an umbrella cover. It offers a variety of vehicles for different kinds of older cars. For instance, the age, make, etc. would be looked into before a cover is drafted.
LV (Liverpool Victoria)
LV offers classic car insurance for cars that are 20 years old or more. Like the requirements specified by other companies, the car should not be your primary car and it should have also not clocked more than 5000 miles. LV offers agreed value cover, which means the company would pay the value agreed upfront in case of a complete loss. It also provides £100,000 as motor legal expenses for legal expenses (if any). LV also has exclusive discounts for its loyal customers who currently hold a standard car insurance, home insurance or any other type of insurance cover with LV.