This article provides general information about the insurance industry and does not describe Hagerty’s specific products or policy terms unless clearly noted.
If you have an older car, taking out a classic car insurance policy could well be a better option for you rather than a standard car insurance scheme. We’re not just talking 60s’ and 70s’ MGs here, because cars as ‘young’ as 15 years of age could well be eligible.
That’s because classic car insurance policies are tailored for vehicles that are cherished by their owners and used in a different way than daily drivers. There are several potential benefits as a result, from reduced premiums to agreed valuations, and help with specialist repairs should you need them.
So, let’s get into the differences between standard car cover and specialist classic car insurance.
What we will cover (excuse the insurance pun):
- What standard car insurance policies cover
- What’s included with a classic car insurance policy with Hagerty UK
- Usage restrictions on policies, such as mileage
- How to insure your classic car
What does a standard car insurance policy cover?
A standard car insurance provider will assume that you’re driving your car regularly – this is typically referred to as ‘social, domestic and pleasure’, and many drivers often opt to add commuting and/or business use on top.
Should it come to making a claim, the insurer will typically value your car on its perceived market value at the time, not considering the purchase price or whether its value has changed since then.
In addition to this, they may also base their policies on standard mileage rates of 10,000 miles per year, which may mean classic car owners are paying for more coverage than they need. As classic car insurance specialists, we know they the majority of classic vehicles are not used like this, and rather, are secondary vehicles used for weekend drives and shows. Therefore, we base our classic car insurance policies on a maximum of 5000 miles per year, meaning classic car owners are paying for the coverage that more accurately represents their usage.
This brings us on to our final point; many standard car insurance providers don’t provide cover for car events and shows, which many classic car enthusiasts like to attend with their vehicles.
What does a Hagerty UK classic car insurance policy cover?
At Hagerty UK, we are classic car enthusiasts at heart, so we know first-hand what classic vehicle owners really want and need from their policies.
Cover for Shows and Events
Take your classic to shows and events with peace of mind that you are protected.
Agreed Value
You can choose to add agreed value to your policy. This means you and we (the provider) agree on the value of your car before the policy begins. To do this, we use our trusted valuation tool, which tracks auctions, sales and insured values to give us a better indication of its value.
With agreed value in place at the beginning of your policy, it means that you will receive the full amount that was agreed at the start of your policy in the event of a total loss, regardless of whether its value has decreased (less any excess and/or salvage value, if retained by you).
Your Choice of Repairer
With a Hagerty UK classic car insurance policy, you can choose to have your vehicle repaired at a trusted garage of your choice.
Drive any Hagerty-Insured Car
Did you know that you can drive another Hagerty-insured car? No need to let us know – you’re protected to drive another car insured by us.
Cover for Young Drivers
We can insure drivers over 21 years old, providing you comply with our insurability criteria.
Suitable Mileage Limits
Many classic vehicle owners are reluctant to drive their classic daily, favouring relaxed weekend drives and showing them off at local meets instead. This often means that most classic vehicle owners don’t need a standard policy with a 10,000-mile annual limit, as they simply don’t drive enough to warrant that level of cover.
Our classic car insurance policies are based on an annual limit of up to 5,000 miles per year (although you can opt for less than this), which is perfect for those who prefer to use their vehicles for spontaneous weekend road trips, leisurely trips to the shops, and the occasional *mandatory* marque meet-up. Therefore, with lower annual usage, your premiums could be lower than those of a standard insurance policy.
European Touring Cover
We know just how special it is to take your pride and joy out on the road. What’s better than cruising in your classic in the sunshine? Our policies cover you for up to 90 days of touring throughout Western and Central Europe, although some exclusions apply.
Breakdown and Recovery
As much as we love them, classic cars sometimes have their moments. You’ll also get breakdown cover, including recovery should your classic let you down on a trip.
How to insure your classic car
Insuring your classic car with us is simple. Speak to our UK-based team on 0333 323 1138 or, if you prefer, head over to our classic car insurance page to get a quick quote and get covered instantly.
All our classic car insurance policies are fully comprehensive as standard, and you can insure up to six classic vehicles online on a single policy. Here are some of the things you’ll need to know beforehand:
- Your annual mileage: You’ll need to tell us how many miles you typically do per year – up to 5,000.
- Storage: Where you keep your car – whether that’s on your driveway, in a garage, or in a professional facility.
- Regular use vehicle (RUV) details: Information about the car that you use daily.
- Your license details
- Any previous claims information
For agreed value, you will need to provide photographic evidence of your car’s condition, or an acceptable valuation certificate within 30 days of the start of your policy.
