Car Insurance Matters: What to look for when insuring a classic car

Insurance expert Mark Willis, from Maidenhead based company Vision - a quality provider of replacement vehicle solutions - answers your questions.

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Q: What should I look out for when insuring my classic Porsche? I want to safeguard my investment.
A: A restoration job can take hundreds of hours and a number of years to complete, but the satisfaction of driving a pristine classic car on a fine day makes all the hard work worthwhile.
Cars that are more than 21 years old are generally defined as ‘classic’ by insurers and it’s advisable to get them covered through specialists with policies that are generally able to offer owners better terms.
Classic car insurance features limited mileage bands, reflecting the fact that most are an owner’s second or third car and are only used at weekends. There’s also an option for cars kept off the road (SORNed), covering theft, fire and accidental damage. A parts-only warranty is another way to keep costs down. Many insurers also offer a discount for drivers who are members of a classic car club.
It’s a good idea to pre-agree the value of your classic car with your insurance company, especially if it is particularly rare or has an interesting history. An Agreed Value is usually reviewed every two years, and if it’s not established with an insurer, market value would be used in the event of a claim.

It’s worth shopping around and using a broker is a great time-saving way to get tailored cover.