Classic Car Insurance - A Growing and Competitive Market

ByAnthony Saxon

In recent years many specialist car insurers have entered the market catering to different sectors of the driving world. Young driver, performance car and convicted driver insurance have all become specialist areas and, thankfully, classic car insurance has also become widespread.

Careful Owners

Unlike some of the other specialist areas, classic cover specialists recognise the fact that classic car owners are likely to maintain their cars exceptionally well, generally use the cars only at weekends or limit use to the summer months and are serious about the security of their vehicles. While the value of the cars may well be greater than standard cars, insurers recognise that the chance of claims is much lower, allowing them to offer highly competitive deals.

Growing Competition

Comparison shopping is worthwhile for classic car insurance - as with just about everything these days. Many comparison sites will include a range of specialist insurers and to get the best spread of deals on offer, it's worthwhile checking out a number of different sites. There's certainly no harm in asking your standard car insurance provider if they have a specialist department as well - mainstream providers are recognising the fact that niche markets need to be catered for in the highly competitive insurance market.

Special Circumstances

When comparing quotes there are some factors to consider giving special attention to:

Car value; unlike a standard car, classic cars tend to rise in value over time. Standard policies operate on a market value basis which is rarely suitable for classics. Agreed valuation should come as standard in your car insurance policy, and should be a figure that you can revise year on year.

Mileage; the chances are that you will only use your car at weekends, possibly only during the summer months. This will reduce the risk of accidents in the insurer's eyes and should be reflected in a generous discount.

Security; again there is a strong chance that you will take this even more seriously than your insurer. Security devices and secure storage protect your investment - check what security products the insurer recognises and what discounts they offer for a classic being stored in a secure garage.

Time Well Spent

Classic cars are often unique and it can take some time to fully research the classic car insurance market for your particular pride and joy. Time, in this case, that should be well spent and offer access to real savings on your insurance policy. However, complacency shouldn't be allowed to creep in and be prepared to thoroughly compare the classic car insurance market every year to ensure you get the best possible deals on offer.

Anthony Saxon is financial content writer currently working in the insurance industry for http://www.tiger.co.uk. Tiger is one of the leading classic car insurance comparison sites in the UK and our focus is to find the right insurance policy for the right price. You can compare over 140 of our insurance partners to find the best deal and save money.

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Anthony Saxon

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MLA Style Citation:
Saxon, Anthony".".5 Mar. 2012EzineArticles.com.14 Mar. 2012 .APA Style Citation:
Saxon, A. (2012, March 5). . Retrieved March 14, 2012, from http://ezinearticles.com/?Classic-­Car-­Insurance-­-­-­A-­Growing-­and-­Competitive-­Market&id=6920840Chicago Style Citation:
Saxon, Anthony "." EzineArticles.com. http://ezinearticles.com/?Classic-­Car-­Insurance-­-­-­A-­Growing-­and-­Competitive-­Market&id=6920840EzineArticles.com© 2012 EzineArticles.com
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