Just like standard Private Motor Insurance for your daily drive, a Classic Car insurance has three levels of cover – Comprehensive, Third Party Fire & Theft, and Third Party Only;

Comprehensive (or the whole kit and kaboodle)

This provides repair or replacement cover for damage to your vehicle, as well as other vehicles and property (if you back into your neighbours letterbox for example). It is usually accidental damage, and includes theft, fire, legal liability and usually a host of additional benefits that are automatically included (like new vehicle replacement benefits, hire car after theft, or towing costs etc) or optional covers (like excess free windscreen and glass cover, hire car after accident etc) that you can add in for extra premium.

Third Party Property Damage (the basics)

Good old bomb insurance – covers damage to other vehicles and property, but not your own vehicle. Just plain and simple legal liability.

Third Party Fire & Theft (a bit of both)

An option a lot of younger drivers take out that provides the basic legal liability protection of Third Party Property Damage and adds cover for theft of your vehicle and fire. It’s not going to cover damage as a result of an accident with another vehicle or impact by an animal for example, but if the vehicle is stolen from out the front of the pub on Saturday night, at least you’re covered!

The difference between a standard motor insurance and a classic insurance, lies in the additional benefits that the insurer provides;

Agreed Value

Often the standard method of settlement under a Classic Car insurance, Agreed Value gives you peace of mind and the ability to insure the vehicle at a sum insured that accounts for all the money you’ve put into the restoration and upkeep of your vehicle.

Choice of Repairer

A very handy benefit, giving you the freedom to go to your preferred repairer, and who specialises in your particular vehicle.

Salvage rights

Often a vintage or classic car is not worth repairing to the insurer as the cost is far greater than the vehicles worth to them, so the option to keep the vehicle for no extra cost in addition to your claim settlement is a valuable option.

Lower premium for low mileage

Most classic car insurers offer lower premiums where the vehicle is used under a certain number of KM’s or miles per year. This helps keep your premiums low as you only pay for your usage.

Lay-up or Restoration cover

The option of covering for off-road exposures when your vehicle is laid up for restoration or not in use.

While no means the only benefits of a Classic Car insurance, the above are at the top of the list when considering an insurance policy for your classic car.