Is Third Party Classic Car Insurance Worth Having?

When it comes to arranging classic car insurance you have a number of options with third party classic car insurance being one of them. Bearing in mind its limited cover, a question that often crops up is, “ is it worth having?”

third party classic car insurance does not cover damage to your own vehicle

Would you just arrange third party classic car insurance on this valuable car?

The short answer is that it most definitely is assuming that you cannot afford either third party fire and theft or fully comprehensive classic car insurance. These two options provide a grater level of cover than just third party cover.

So, let’s have a look at third party classic car insurance in a little more detail: –

There are numerous insurers that offer this level of classic car insurance so there is plenty of choice. This, potentially, means that you may be able to get this type of cover at a very competitive premium.

Third party classic car insurance provides a very similar level of cover to that of third party insurance on an ordinary car. It tends to be the cheapest level of cover with the exception of laid up cover.

As with most things in life – you get what you pay for. For instance, third party classic car insurance will provide cover for any damage caused to another vehicle, another person and other property but no cover is provided for damage to your own classic car either through being damaged in an accident or it being stolen.

The potential issue with third party cover is that, if your classic car is particularly valuable, and it were damaged as a result of you being responsible for an accident you will not have any cover. This will leave you responsible for paying for the repair work to your own classic car.

Therefore, you need to ask yourself if you should not consider either third party, fire and theft or fully comprehensive classic car insurance. Yes, either of those is more expensive than third party classic car insurance but is it not worth paying more for that extra peace of mind?

Ultimately, the choice has to be yours.

About Anne Jacobs

I am a full time insurance underwriter with a love for writing. I work in the UK at a classic car insurance company. My other hobbies are going to the gym and aerobics (when I am not looking after my 3 year old daughter Jessie.
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