How old does a car need to be to be insured as a classic??
Discussion
Simple question, my gf now has a car plus my work commitments have changed so I only really need my car for fun. I do not want to sell it so can I insure it as a classic car and drive it as and when I fancy a hoon?? Is there a minimum age a car has to be before you can insure it as a classic car on a limited mileage policy?? Car is a 1998 compact 318ti.
Classic car policy is just a name - any T&Cs or special treatment are just down to what the particular insurer wants to offer. Usually the policy will come with restrictions such as no no-claims benefit earned, limited mileage, restrictions on where it is kept etc. Footman James told me I could insure my 1999 Elise on a classic policy when I was insured with them 3 years ago. I am now insured with REIS on a 'Sports Car Policy'. It is far cheaper than a normal policy but I am limited to 5,000 p.a. and the car has to be garaged after 10:00pm (unless I'm driving it or away from home). If you speak to the likes of REIS, Adrian Flux, CCI, they will probably be able to suggest something that suits you.
Hi
Aon (now Footman James) would treat vehicles over 10 years old as eligable for a classic policy. Our Maserati 222 gets insured with them.
All the best
Keith
PS - at one time I they were happy with the average age of bikes on a classic policy being over 10 years old, hence managing to add a 7 year old Aprilia RS125 to my classic policy
Aon (now Footman James) would treat vehicles over 10 years old as eligable for a classic policy. Our Maserati 222 gets insured with them.
All the best
Keith
PS - at one time I they were happy with the average age of bikes on a classic policy being over 10 years old, hence managing to add a 7 year old Aprilia RS125 to my classic policy
The whole principle of classic car insurance is that it only applies to cars which are old enough and hence unusable and eccentric enough that owners treat them with kid gloves rather than as simple means of transport so it would be amazing to me if you could get a policy on a 1998 3-series. That would seem to utterly defeat the point?
To be fair though a 1998 car is sooo last century, so it should qualify as classic. 
I thought it was more like 15 years old, but it seems it's a movable feast and down to the insurers to make up the rules (again). I'm hoping to insure a TVR on a classic policy and that might be 1998 or even later, but the difference being that it won't be my main car and the mileage will be limited to under 5,000 or even 3,000 a year.
I thought it was more like 15 years old, but it seems it's a movable feast and down to the insurers to make up the rules (again). I'm hoping to insure a TVR on a classic policy and that might be 1998 or even later, but the difference being that it won't be my main car and the mileage will be limited to under 5,000 or even 3,000 a year.Kickstart68 said:
Aon (now Footman James) would treat vehicles over 10 years old as eligable for a classic policy.
Not true. It depends on how you use the vehicle - is it a cherished second car, that's garaged with you driving e.g. 1500 or 3000 miles a year? Is it collectable, does it have an enthusiast club, has the depreciation curve bottomed out or is appreciating?Or is it an old run around that you occasionally hack around town in?
Ring around the specialist brokers, but they ain't stupid.
As others have mentioned, it's complicated.
You can insure cars which are kept outside, driven lots of miles and used for commuting on a specialist policy.
You can insure your only car as a classic.
You can get more or less new cars on a classic policy (my 2001 Caterham was, for example and I'm sure the last-of-the-line 21st century TVRs are).
...but not often all on the same policy.
As a general rule, though, it helps to be a second car, with a low annual mileage that's garaged overnight. Something unusual is a bonus too. Even if you only drove a current-shape Focus or Mondeo 1,000 miles a year and garaged it every day I doubt you'd get it passed as a classic.
You can insure cars which are kept outside, driven lots of miles and used for commuting on a specialist policy.
You can insure your only car as a classic.
You can get more or less new cars on a classic policy (my 2001 Caterham was, for example and I'm sure the last-of-the-line 21st century TVRs are).
...but not often all on the same policy.
As a general rule, though, it helps to be a second car, with a low annual mileage that's garaged overnight. Something unusual is a bonus too. Even if you only drove a current-shape Focus or Mondeo 1,000 miles a year and garaged it every day I doubt you'd get it passed as a classic.
As said already, there's no real rules. It just seems to be a case of phoning round and seeing who's up for a quote.
Interestingly (or not!) I've just had a quote for £170 to add a 1997 BMW 328i Sport coupe winter shed to my existing classic car policy. And that's fully comp (albeit limited mileage) through to the end of July.
The thing with the specialist insurers is that they seem prepared to phone the underwriters and fight your corner.
I'm with RH Classic, who are great. And I used Lancaster last year to cover the 1989 W124 Merc - I'd recommend them too.
Interestingly (or not!) I've just had a quote for £170 to add a 1997 BMW 328i Sport coupe winter shed to my existing classic car policy. And that's fully comp (albeit limited mileage) through to the end of July.
The thing with the specialist insurers is that they seem prepared to phone the underwriters and fight your corner.
I'm with RH Classic, who are great. And I used Lancaster last year to cover the 1989 W124 Merc - I'd recommend them too.
warp9 said:
Not true. It depends on how you use the vehicle - is it a cherished second car, that's garaged with you driving e.g. 1500 or 3000 miles a year? Is it collectable, does it have an enthusiast club, has the depreciation curve bottomed out or is appreciating?
That applies for anything. Use a Bugatti Type 35 for your daily commute into London and the classic insurers would run a mile.Point was that once it is 10 years old they would consider it for classic insurance, but under that age and they would reject it even with the same use (except with fiddles).
All th best
Keith
I think it depends on the company. Classicline insure the new Mustangs on classic policies for example. Much depends on use, storage and obviously the risk posed by the type of car and the type of driver.
However, as many threads here have shown, if you can find an unusual car that itself is a low risk, you can often get a better insurance deal on those, even on a normal policy.
I say that because many classic policies neither require nor earn NCB.
However, as many threads here have shown, if you can find an unusual car that itself is a low risk, you can often get a better insurance deal on those, even on a normal policy.
I say that because many classic policies neither require nor earn NCB.
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