This article provides general information about the insurance industry and does not describe Hagerty’s specific products or policy terms unless clearly noted.
For young drivers, obtaining insurance for their classic car is often the biggest barrier to getting behind the wheel. Dreams of hot hatchbacks and sleek coupes may be dashed by the reality of pricey premiums. The same can also be true for those young drivers who have their sights set on a classic car, with some companies having a minimum age for policyholders of 25 years or older.
As champions of the classic car hobby, however, we’re able to offer classic car insurance for young drivers from 21 and up, as long as they meet certain insurability criteria.
Here’s all you need to know before embarking on your classic car journey as a young driver.
Eligibility criteria for young drivers explained
Age restrictions
If you’re a young driver currently looking for insurance for your classic car, you’ll likely have noticed that most of the providers out there require you to be a certain age in order to qualify.
You’re probably wondering why insurers have these requirements in place. Well, it all comes down to the level of risk associated with insuring young drivers. Younger drivers are considered a higher risk due to a combination of youth and inexperience.
A report on road casualties in Great Britain by the Department for Transport revealed that young male drivers aged 17-24 are about four times more likely to be killed or seriously injured in a road collision compared with all car drivers aged 25 and over. Due to statistics like this, it makes younger drivers a higher risk compared to other age groups, and therefore often makes premiums more expensive.
At Hagerty UK, we can provide classic car insurance for drivers aged 21 or over (subject to meeting our insurability criteria). So, if you’re under 25, have a classic car and want to get out on the road, why not get in touch to see if we can cover you?
Driving experience restrictions
It’s obvious really, but the longer you have been driving, the more miles you are likely to have under your belt. If those miles have been trouble-free, then you’re likely a lower risk for an insurer. As young drivers gain experience on the road, insurers begin to see them as lower risk.
Tips for getting classic car cover as a young driver
For young drivers shopping for classic car insurance, it will always pay to compare policies offered by different insurers, as they may well have different restrictions – from age to driving experience, to where you’ll be keeping your car and the mileage you plan to drive each year.
Owning another car as your daily driver will help – if you’re only using your classic car in your downtime then the risk is lower. Some insurers will actually only cover your classic car if you have an alternative car for everyday driving.
If you’re over the age of 21, and your car is 15 years old, you might be eligible for a classic car insurance policy with Hagerty UK. You’ll need to have at least three years of experience on the road, with a full driving license, and another car as your daily driver.
All Hagerty UK policies are fully comprehensive with agreed value cover included. It’s fair to say that the more valuable the car, the more expensive the policy is likely to be, so a cheap starter classic that’s not too powerful would be a good way to begin your journey. It’s also a good idea to join a car club too, as members are often eligible for discounts.
Just as every car and driver are unique, so too are the insurance needs, restrictions, and benefits, so talking all this over with your insurer will most likely get you better result than simply filling in an online form with a comparison site for example.
To see if you’re eligible for young driver classic car insurance, just give our friendly team a call on 0333 323 1138.
Before you call us, it’s worth making sure you meet our insurability criteria below:
- Your vehicle is 15 years or older
- You have a regular use vehicle (RUV) that you use for most of your driving such as commuting
- You’ve held a full UK driving license for at least 3 years
- You drive your classic vehicle for less than 5,000 miles per year
- Your vehicle is valued under £75,000
