Car Insurance for Vintage & Classic Cars

24 May 2018
If you’re a lover of vintage, you’re in luck. Canstar breaks down the basics of insurance for vintage and classic cars.

What defines a vintage car?

According to specialist car insurance provider Shannons, a car is considered to be vintage if it was made between the years of 1919 and 1930. While some people believe that every car over 15 years old is considered ‘vintage’, Shannons classifies cars according to the following categories:

  • Cars made before 1905 are categorised as ‘antiques’
  • Cars built between 1905 and 1919 are classified as ‘veteran’
  • Cars made between 1919 and 1930 are classified as ‘vintage’
  • Cars built after 1931 and before 1950 are classified as ‘post-vintage’
  • Cars 15 years or older are categorised as ‘classics’.

It’s important to keep these years in mind when insuring an old car, as the age of the vehicle can have an impact on car insurance premiums.

What’s the difference between comprehensive and vintage or classic car insurance?

Vintage and classic car insurance policies tend to be similar to comprehensive car insurance policies, and typically offer benefits and conditions particularly tailored for vintage vehicles.

If you only use your vintage car on occasion, particularly for car shows, then a number of larger car insurance companies offer comprehensive insurance that could be suitable. However, if you’re driving a classic car every day, it could be worth considering a specialty vintage insurance company.

A key difference is that vintage car insurance policies are agreed value only. This is because agreed value can be used to determine the worth of an older car, whereas market value is usually more suitable for newer vehicles.

What does vintage and classic car insurance typically cover?

Because classic car insurance is very similar to comprehensive insurance, there are a number of coverage options that are the same. These typically include:

  • Accidental damage
  • Damaging another vehicle/property
  • Loss or damage by fire
  • Vandalism
  • Storm or flood damage
  • Windscreen/glass damage

Some of the extra coverage options include:

  • Theft/damage to modifications or accessories
  • Towing and trailer damage
  • Storage costs
  • Recovery of personal items

It’s important to declare if you have made any modifications to your car at the time of taking out the insurance policy. This way, the provider can tailor your insurance policy accordingly.

Compare car insurance with Canstar

Whether you’re looking to cover a vintage, veteran or classic car, Canstar compares over 60+ car insurance policies including from five providers who specialise in vintage vehicle insurance.

The table below displays a snapshot of car insurance policies on Canstar’s database with links to providers’ websites. Please note the results are based on a male driver aged 30-39 in New South Wales with no cover for a driver under 25, sorted by Star Rating (highest to lowest) then by provider name (alphabetically). 

You can use Canstar’s car insurance comparison tool to generate a comparison of products which may be better suited to your needs. 

If you’d like to compare policies beyond those listed in the tables above, you can use Canstar’s car insurance comparison tool to generate a comparison of products which may be better suited to your needs. 

Similar Topics:

Share this article