Confused by Classic Insurance

[325Ti]

Im confused by Classic Insurance

in my mind it was always for old cars - ie 30 years or older and very limited mileage for driving to shows etc

however recently on a number of discussions on here people have mentioned having classic insurance on 5 old year jags etc etc

is this the work of idiots or is it actually possible?

i have a ten year old bmw and am sick of paying too much insurance - so any way of saving money would be great

cheers

[Pickled Piper]

Varies from provider to provider. However, usually requires that you garage the car, limited mileage and that it is not your primary vehicle. The age of the vehicle is often of secondary importance. Oh and you don't accrue a NCB.


pp

[325Ti]

thanks for the reply

in terms of the NCB - screw that

being young-ish i have spent a sh*t load of money to build my NCB so dont want to loose it

[ARH]

I have a classic policy on my old cars, morris minor, triumph vitesse and series 2a landrover. they are all unlimited mileage, ungaraged. With peter James. You can get classic type policies through owners clubs for much younger cars sometimes. The biggest issue is these policies generally need the cars to be a second car to gain any real cost advantage.

[98elise]

325Ti said:

Im confused by Classic Insurance

in my mind it was always for old cars - ie 30 years or older and very limited mileage for driving to shows etc

however recently on a number of discussions on here people have mentioned having classic insurance on 5 old year jags etc etc

is this the work of idiots or is it actually possible?

i have a ten year old bmw and am sick of paying too much insurance - so any way of saving money would be great

cheers

Anything is possible. The only legal requirement is that you are insured, how you and an insurer choose to class or structure the insurance is between you and them.

There isn't a legal definition of classic insurance, only what the insurer is willing to consider under that sort of policy.

[p4cks]

My 1995 Clio Williams is on a classic policy as it is a second car. I think I pay about £340 p.a. however once the car reaches its 20th birthday (that's if it hasn't rusted away!) it should go down to about £150.

I must add that it is limited mileage of 3k p.a. and it must be a 2nd car. That's with Peter Best.

There are other companies out there other than the ones on price comparison sites. For example, I got my Z4C insured with CCI for £550 (28yrs old 4yrs NCB no points) which is a sports car specialist and it even includes 3 free trackdays insurance. My VX220 Turbo was only £340 and a quote for a Porsche 996 911 came in at £450. Truly exceptional prices IMO.

So, in conclusion I would look for specialists and ring around a few to see what sort of deal they can do. I've found the customer service on both CCI and Peter Best to be exceptional, especially compared to any larger company who just don't seem to care about the car/driver/vintage etc

[CampDavid]

I have my BMW 740i insured with Footman James at 6k miles per year (I'. It needs to be garaged and I can't use it to commute (though I believe that wasn't much more to add) and I don't get 3rd party on other cars.

At £380 a year it was half the price of insuring as a normal car

[Cockey]

My Tuscan is on classic insurance. Limited to 5k a year - £311. Can't complain

[hwajones]

No NCB?
On a fully comp policy?
I'm insured by Adrian Flux but was counting on NCB building up as i got the year over, at least i'm 25 next year which opens my options out a bit...

[Cockey]

You don't get NCB, but equally you don't require any either. Therefore it works well if it's a 2nd car as you can leave the NCB on the car with normal insurance.

[farrendahl]

I'm quite fortunate, I've got the ZT-T (52 plate) on a classic policy. No restriction on usage (ie it doesn't have to be a second car) Doesn't have to be garaged, although I do park on the drive and I can use it on a commute. All in all £375 a year. Strangely enough though if I had got a 75 tourer with the same engine instead though (which was originally my first choice) I wouldn't have been able to get it on a classic policy. The only down side? I don't get any no claims, but as I'm a named driver on my other halfs policy (one where all named drivers earn NCD) it works okay for me.

[325Ti]

tried some of the companies mentioned above

CCI said my car didnt meet their requirements - screw them then ill give my hard earned to somebody else

[kambites]

I had classic car insurance on my MGB when I bought it as my first car - fully comp; only vehicle I owned; used for commuting; kept on the drive; no mileage limit; full no-claims bonus entitlement;... 350 quid a year.

That was with Lancaster Insurance.