Classic car insurance Advice for reducing the cost of your premium

The harm caused by break-ins, theft, vandalism, or any other kind of damage goes much further than simple inconvenience, and financial loss or the loss of a no claims bonus on your classic car insurance policy. For us classic car owners, who have usually bought and lovingly fixed up their cars over months, often even years, loss of any kind amounts not only to money, but to time, love and emotional investment.

Because classic cars are easier break into than their newer counterparts, classic car owners are strongly advised to purchase a Thatcham-approved alarm, tracker and immobiliser. So if your car is broken into, the police will be able to retrieve a stolen vehicle often within 24 hours, which is particularly valuable in light of the fact that classic cars are often rapidly dismantled for parts to sell on separately and under the radar. And not only this, but fitting your car with these devices will reduce your insurance premium – you need only compare car insurance quotes online to see the savings, by using a service such an Moneysupermakret compare car insurance

One of the UK’s leading stolen vehicle recovery companies, TRACKER understands that a huge majority of classic car owners are adverse to the idea of tampering with the authenticity of their classic vehicle by equipping it with modern technology, worried that it might work to detract from the car’s bygone charm.

Stuart Chapman, of Tracker, reassured drivers: “Classic car owners are understandably cautious when it comes to installing alarm systems and immobilisers. Some devices are even unsightly, even on modern vehicles, so people feel they affect the look of the vehicle. Whilst that might be the case, the appeal of those vehicles for criminals makes it essential to protect them.”

If you’re happy that you’ve taken every step possible safeguard your car against danger, then there still more ways you can keep your car insurance cost to a minimum.

Ensuring that the estimated annual mileage is accurate will mean that you’re not over- or, more importantly, underinsuring. If you overestimate your mileage, your premium will be unnecessarily expensive, however, if you underestimate, you could render your policy invalid, which would be a disaster if you needed to claim for any reason.

Another way of reducing the cost of your insurance premium would be to get your classic car valued, and then get that value guaranteed. If the worst should happen and your car is written off, for example, you’ll be guaranteed to get the full value of the car which, as you’re likely to be aware of, usually increases with age when it comes to classics.