Classic car insurance is designed for cars which are used as second vehicles, either for leisure driving or simply for taking to collector’s shows.
In most cases this is reflected by considerably lower premiums. This can be very important as insuring a classic car under a standard motor insurance policy could be very expensive because of the value, particularly if it is a unique or rare model. Specialist insurance policies also take account of the fact that classic cars hold their value much better than new cars which suffer heavy depreciation. This will affect the replacement value payment you will get if the car is written off. continue reading…
