Classic Car Insurance

Classic car owners know the investment of energy and finance that a classic car demands. And your special car requires special car insurance.

When choosing classic car insurance, there are a few things you should keep in mind:

Insurance Options for Classic Cars

If you value your classic car, you may want to consider taking out Comprehensive car insurance. This will help ensure that your car as well as the vehicle and property of others, will be covered in the event of an accident, even if it is caused by you.

If you don't drive your classic car and normally keep it under cover, you could opt for Third Party Fire and Theft, which will cover your car if it is stolen or damaged by fire, as well as if your car causes any damage to someone else's property.

When taking out your classic car insurance policy, make sure that your insurer regards your car as a classic, and not just a depreciated modern car. This way, you can insure against an agreed value - a fixed amount that's fair for your make and model - rather than just the market value, which is determined at the time of a claim based on the age and condition of your car.

Other Considerations for Insuring Classic Cars

Repair options

Classic cars often need special care and attention that a regular garage may struggle to provide. When selecting your classic car insurance policy, you might go for one that allows you to choose your own preferred repairer, especially if you already deal with someone you trust.

If this option is not available, ask to view your insurer's list of preferred repairers to see if there is one that deals particularly with classic cars.

Understand the terms of your policy

As with any legal document, you should read the relevant Product Disclosure Statement (PDS) carefully and make sure you understand all the terms and conditions involved before you take out classic car insurance. For example, it may cost a little extra to receive an agreed valuation for your classic car, but this extra cost may be required to ensure that your insurer guarantees the full value of your car when it comes time to claim.

Classic car owners are particular about their cars, so you should also be particular about the insurance policy you choose to protect it.

These articles are provided as reference material to allow more informed decision making, but are not intended as being a complete source of information on any topic. All readers should make their own independent analysis on the topic to make sure they have considered the aspects that are important to them.