Classic car insurance is a type of specialist policy for cars that fall into the classic bracket.
We don’t offer these types of policies at Confused.com, but you can still insure your classic car under a standard insurance policy - and we’ll help you compare quotes to find the best one for you.
The main difference between standard car insurance and classic car cover is agreed value. This is where you and your insurer decide on the value of your car and insure it for that amount, rather than using its market value, which may be lower.
The quotes we’ll show you will be based on the market value of the car, but some insurance providers may let you insure it for an agreed value if you contact them directly after getting a quote.
To give you an idea of what you might pay, here are the average costs to insure 3 of the most popular classics in the UK, vs the average:
Average car insurance cost*
£776
Opel Manta GTE**
£59.66
Jaguar E Type**
£150.43
VW Beetle**
£428.25
*Confused.com Q2 price index data.
**Confused.com data 24/02/2023 to 24/05/2023. Average premium price across all cover types, ages and locations.
Surprisingly, classic cars can actually be cheaper to insure than newer ones. This is mainly due to them being seen as less risky to insure than newer cars.
And there are a few reasons for this:
Classic cars tend to be driven less: as they’re usually kept as leisure vehicles by hobbyists or collectors, and aren’t typically used for commuting, travelling long distances or everyday driving. This means they’re less likely to be involved in accidents.
Classic owners tend to take better care of their cars: so they’ll usually be well maintained, and stored securely when not in use. This lowers the likelihood of them being stolen, vandalised or breaking down.
Classic owners tend to be older: and may be seen as more experienced by insurers. Older drivers also tend to have higher no claims bonuses built up. And as an accumulated 5 years of NCB could save you as much as £65%1 on your insurance, this can make a big difference.
Ultimately, though, what you pay for your insurance is due to a number of factors, and the age of your car is just one deciding factor among many.
1Confused.com data 24/02/2023 to 24/05/2023.
Here's the average cost of insurance for each class of use:1
Social only
£764
Social & commuting
£734
Business use
£570
1Confused.com data 24/02/2023 to 24/05/2023
Yes, you can insure a classic car for your daily commute, just as you would a newer car. But it can affect what you pay for your insurance.
This is largely down to what are known as classes of use. These describe how you use your car, and influence what you pay for your cover.
The three main classes of use are:
Social only: This covers you for driving socially and for recreation. This might be a trip to the shops, day trips and holidays or visiting friends and family.
Social and commuting: This covers you for the above, but adds in cover for your commute to a single place of work too.
Business use: This covers your car for business use, such as driving to multiple work sites, or transporting clients. There are 3 types of business car insurance to choose from depending on how you use your car for work.
Here's the average cost of insurance for a young driver, vs the UK average for all ages
Average cost all ages:
£776*
Average cost young driver:
£1,302+
*Confused.com Q2 price index data.
+Confused.com data, 24/02/2023 to 24/05/2023. Average premium price for all drivers aged 17-25.
While not impossible, it can be difficult for young, inexperienced drivers to get insurance on a classic car.
This is largely due to inexperience, with younger drivers being statistically more likely to have an accident than older drivers. This, mixed with the fact that classic cars can be difficult and expensive to repair, can leave some insurers hesitant to cover them.
This can mean that younger drivers who have held their licence for less than a year can struggle to find cover.
Even if they do find it, young driver car insurance often comes at a higher price than cover for older, more experienced drivers.
This isn’t unique to classic cars though, with drivers under 25 paying more for their insurance regardless of the age of their car. In fact, newer drivers pay 40% more for their insurance at £1,302+, compared to the average of £776*.
If you’re a younger driver concerned that you may not be able to find cover, compare quotes now to see what your options are.
Yes, you can get breakdown cover for a classic car, and it might even be included with your car insurance.
If not, you'll normally be able to add it on to your policy for an extra cost.
When you get a quote, you'll see in the breakdown cover column whether it's included or available at an extra cost.
You can even take out breakdown cover on its own if you already have insurance for your classic.
Breakdown cover is available in a few different levels, so exactly what's included depends on which one you pick. But some common benefits of it include:
"Standard policies estimate the market value of your car, but they might not reflect the actual value of your classic car. If you want an agreed valuation for your car, speak with the insurer before you buy. An agreed valuation on your policy helps ensure you’re not left out of pocket if your car is damaged or stolen."
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