Are there mileage limits on classic car insurance? Yes, many classic car insurance policies include an annual mileage limit. Hagerty UK’s mileage limit is 5,000 miles a year, with lower options also available.
Key takeaways
- Mileage limits reflect how much you’re likely to use your classic.
- Hagerty UK’s annual limit is 5,000 miles.
- Lower limits are available, and they may reduce your premium.
- Hagerty UK doesn’t ask you to report your mileage each year.
Most of us don’t drive our classics every day. Instead, we bring them out for weekends and away days, road trips, cars and coffee mornings and club meets. Because we don’t rack up the miles of a daily driver, it’s fair to ask how that’s reflected in classic car insurance. Here’s what we’ll cover:
- Why do classic car mileage limits exist?
- What are the typical mileage caps on classic car policies?
- What are the benefits of limited mileage classic car policies?
- Do I need to report my mileage to my insurer every year?
- What happens if i go over the limit?
Why do classic car mileage limits exist?
Mileage limits exist because the amount a vehicle is driven is just one factor insurers use to assess risk. The more miles driven, the greater the chance of being involved in an accident, so a lower annual mileage can mean a lower risk. Limits also mean cover is priced according to how much you expect to use your classic car over the policy term.
Keeping the mileage down on a collectible classic can also help preserve its value. Agreed Value cover sets your vehicle’s value in advance, and mileage is one of the factors that can influence it.
What are the typical mileage caps on classic car policies?
For Hagerty UK policyholders, the mileage cap is 5,000 miles a year (although you can choose less than this if you don’t do as many miles). That’s pretty generous at almost 100 miles every weekend – and given the British weather, what’s the likelihood you’re going to get in your classic as often as that? Another way of looking at it is that it’s one serious road trip that will make good use of your policy’s included 90-day European touring and breakdown cover.
If you don’t think that you’ll be driving as many as 5,000 miles, then there are several different mileage brackets you can opt for between zero and 5,000 miles. If it really is zero, then you may well want to consider laid up cover instead.
What are the benefits of limited mileage classic car policies?
Limited mileage policies can offer a lower premium, as a lower annual mileage limit may reduce the cost of cover. Agreeing a fixed annual mileage also gives your insurer a clearer picture of how your classic will be used.
Do you need to report my mileage every year?
It depends on the insurer. Some ask for proof of mileage at renewal, such as a photo of your odometer. Hagerty UK policyholders aren’t required to provide this, as mileage information can be obtained from other sources, such as your annual MOT history, which saves you some admin.
What happens if I go over the limit?
Exceeding your annual mileage limit without informing your insurer may affect your cover, including how a claim is handled. Please refer to your policy wording for details of how mileage changes are dealt with. Hagerty UK customers can contact us to discuss their policy.
This article is for general information only and isn’t advice. Please read your policy documents for full terms and conditions.
Insure your classic with a specialist insurer
If you’re looking for cover for your pride and joy, why not consider Hagerty UK? Not only are we classic car insurance specialists, but we are enthusiasts at heart. Call us for a quote on 0333 323 1138.
