Insurance of Classic Cars can be a mine field. It can be difficult to know where to start and who best to approach for the insurance of a possession that is valuable not only in monetary terms but often emotionally as well.
It pays to remember that the cheapest insurer may not give the best value for money policy. It’s worth finding out exactly what your car will be covered for and how the insurance company will deal with any claims you may submit, whether it be as serious as theft, or as minor as a ding.
Your vintage vehicle may be worth more than the value of your family’s modern cars put together, but your classic car insurance doesn’t have to cost a fortune. Classic cars are often kept under lock and key in the dry and only driven on high days and holidays. When they are driven, its normally more carefully than the owner of the rep in the BMW texting Daisy in Accounts as he adjusts his hair in the rear view mirror.
The most important thing about insurance of a classic car is to ensure that whoever you decide to use, gives you, in writing, the insurance company’s agreed valuation of your vehicle. In CCCR’s experience, having a valuation that you have submitted to your insurer is not enough to guarantee their acceptance of it, you must have written evidence of the insurer’s acceptance to guarantee a pay-out should you ever need it.
CCCR has, over the years, helped customers handle insurance claims and has seen the pitfalls first hand, as with most things in life, you get what you pay for.