What is classic car insurance?

Classic car insurance, also known as heritage car insurance, is designed for older cars used mainly for recreational purposes. These cars are tax-exempt and have access to all environmental zones. In addition, there is no longer an MOT requirement for (genuine) vintage cars over 50 years old. This rule was introduced in 2020 with the aim of reducing costs for owners. Of course, getting a car over 50 years old through the MOT can be quite a challenge.

Although classic car insurance has some similarities with regular car insurance, it is not a universal insurance. car insuranceHowever, there are some important differences. Classic car insurance is often cheaper than regular car insurance, because if you have a classic car, you will probably drive less kilometres with it than with your daily car.

How much does classic car insurance cost?

The cost of a oldtimer insurance are usually dependent on the car you drive and how many kilometres you drive per year. In addition, your age and the number of years without claims also play a role. However, the insurance costs will always be lower if you drive a vintage car.

The insurance company does expect old-timer owners to maintain their classic cars well (after all, it is usually an expensive possession!). Therefore, extra conditions may apply when taking out old-timer insurance. So pay close attention to these conditions when you take out insurance. Also, there is often a kilometre limit of for example 5000 kilometres per year.

If your classic car insurance specifies a mileage limit, you should ensure that it is not exceeded. If this happens unexpectedly, please contact the insurer. If you do not do so, the insurer may refrain from providing compensation.

When does a car become a classic?

"A car becomes a classic when it has sufficient historical importance to be collectible".

While there is no definitive answer as to what constitutes a 'classic car', 40-year-old vehicles are exempt from road tax (MRB). Note; an oldtimer must have been first registered at least 40 years ago. Therefore, what matters here is not the year of construction of the car but when it first participated in traffic. Furthermore, an oldtimer may not be registered for business purposes, in which case the exemption will be void. So an oldtimer is really meant for private use.

Why is classic car insurance cheaper than standard car insurance?

Classic car insurance policies are often cheaper than standard policies, mostly because insurers consider classic cars to be at a lower risk of being involved in a claim.

This is mostly due to the use of these cars. Usually, the owner is extremely careful on his classic car and therefore takes fewer risks in traffic.

The oldtimer insurance often also includes stricter conditions that reduce the chance of damage to your car, or of you being involved in an accident. Finally, make sure you read the conditions of the insurer concerned carefully. This way you will not be faced with surprises such as very low mileage restrictions or limited use during the winter months.