Are you planning to purchase a classic? Then you must of course also insure the classic. There are special old-timer insurance policies for classic cars. But how old does a car actually have to be to be labeled an 'oldtimer'? This differs per insurer.
Conditions for classic car insurance
A vintage car insurance is cheaper than regular car insurance. Insurers therefore set certain requirements that a car must meet. The most important requirement is the age of the car. It must be at least 10 years old. But beware: this age limit differs per insurer. For some classic car insurance, for example, a classic must be at least 30 years old.
Other possible conditions for a classic car insurance are:
- good security;
- a maximum weight;
- you drive a maximum number of kilometers per year;
- you are a member of the FEHAC;
- your car is of a particular make;
- your car has a minimum appraisal value.
Does your car not yet meet the requirements for classic car insurance? In that case you can sometimes take out a young timer insurance. For this you pay more premium than for an old-timer insurance, but less than for a regular car insurance. Young timers are cars between 15 and 25 years old that may become classic in the future. Or a car in this age category with a very low mileage and high daily value. Consider, for example, a Mercedes S-class with less than 100.000 kilometers on the clock.
Note: does your car not meet the requirements of an old-timer or young-timer insurance? Then you can only take out regular car insurance.
Types of classic car insurance
Is your car a real oldtimer? Then with your classic car insurance you can choose from third party liability, limited hull and all risk. The same cover as with regular car insurance. Often you can also insure your oldtimer additionally. For example for legal aid or damage after an accident.
Do you want to use your car every day? Then you can also opt for a semi-classic car insurance. You do pay a higher premium for this insurance.
With many insurers you can take out classic car insurance for a number of months. Handy if you only use your car in summer, for example. Inquire about this at your classic car insurer.
What does a car insurance cost for a classic?
The premium of the car insurance of a classic car is based on the appraisal value and the age of the classic. The premium usually increases with a higher value and with a higher age. Sometimes you pay a fixed premium. The premium you pay varies greatly per insurer. Compare car insurance through a comparison website helps you to find affordable car insurance. Would you like to receive a discount on the premium? Then join a classic car association that is a member of the FEHAC interest group. This way you get a 5 to 10% discount on classic car insurance.