Vintage Values: Factors Influencing Classic Car Insurance Costs

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For those searching for classic car insurance, there are various factors to consider. The premium cost of this insurance often far surpasses that of a conventional car policy and depends on a range of criteria.

Age of Vehicle

Generally, the older the car, the higher the insurance premium, since it can be more difficult to find the parts needed for repairs. The age of the vintage car and its current condition will also be taken into account since some parts may be no longer in production and result in higher costs for repair and replacement.


As with most vehicle insurance, the lower the mileage, the lower the premium. The more mileage a car has, the more often it is on the road and is thus more likely to get into an accident – resulting in higher repair and premium costs.


Where the car is garaged has a big impact on your vintage car insurance premium. If the vehicle is located in a busy city, there is more chance of it being exposed to vandalism or theft. The ease of access for such things can make the cost of insurance higher.


Driver experience counts when it comes to vintage car insurance. An experienced driver with a record of fewer accidents is likely to receive a lower premium rate than those with less experience and more accident claims.


The amount of time the car is used affects the cost of vintage car insurance. If the car is kept in an antique collection and rarely driven, the cost of insurance will generally be lower than a car that is regularly used.


Most vintage car owners invest time and money to improve their beloved automobiles. Such modifications must be declared to the vintage car insurance provider. Adding performance-enhancing components, such as a new engine, can significantly increase the premium.


The level of liability coverage you choose will also affect the cost of your vintage car insurance. High levels of liability mean higher premiums, while opting for more basic coverage can reduce your quotes.

Getting insurance for a vintage car is complex and often expensive. However, it’s essential to make sure your classic vehicle is adequately covered. Taking into consideration the above factors when searching for the best policy can help to keep the cost of your car insurance down.