Small Increase In Car Insurance Premiums

According to the car insurance price index, for the third quarter of 2018, there was a small increase in premiums of 1% when comparing the figures for the previous quarter here in the UK. Such an increase may have also been seen in the cost of classic car insurance for some motorists.

On average, motorists are paying £760 per annum for fully comprehensive car insurance with this being a rise of £8 per annum when compared with the second quarter of 2018.

Premiums in South Central England and East Midlands have, on average, risen by £18 per annum when comparing Q3 of 2018 with Q2 of 2018. However, it is Inner London where motorists are, on average, paying most for their car insurance with premiums being in excess of £1,000 per annum. When compared with the same quarter in 2017, that is a significant fall of £149 per annum.

One would hope that the average amount paid by motorists to insure a classic car on an annual basis would be lower than that charged by insurance companies to insure a normal family car.

It is important that classic car enthusiasts shop around to try to get a competitive quote for classic car insurance whether that is for a motorist whose policy is shortly coming up for renewal or someone looking to insure their first vintage vehicle. Do bear in mind that it is not always about the price of such cover but another important factor that you may wish to take into account is the claims experience of the insurance company you are considering favouring with your business. Ideally, you want to be arranging such cover at a low premium but where the insurance company will provide excellent benefits.

Here at Classics Car Insurance, we will continue to keep our readers up to date with any possible increase in premiums that they may be going to be faced with. Obviously, in many cases, motorists will have been able to monitor their premiums online. If they do go up then an option, at renewal, is to negotiate the premium for a suitable motor insurance policy.

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Classic Cars Sold For Below £10,000

Classic car enthusiasts may well already be aware that you don’t have to be a millionaire to own a classic car as there are many such vehicles that can be bought for less than £10,000. This was borne out by the H & H classic and vintage car auction that took place at the Imperial War Museum on the 17th October 2018. Below we mention some of the cars that sold for under £10,000.

A 1936 Austin Seven Ruby sold for £6,412 having had an estimated price of £4,000 to £5,000. It was a lovely looking car with green bodywork and a brown leather trimmed interior. Around 290,000 of these vehicles were built between 1922 to 1939.

A 1986 Jaguar XJ-SC 5.3 achieved a sale price of £7,987 with no reserve. This fantastic sports cabriolet has only had 3 owners with the present owner having it in their possession since 1997. There were only just over 5,000 of these cars sold.

A 1973 Triumph TR6 in need of some restoration work was sold for £4,500 having had an estimated price of £5,000 to £6,000. The TR6 was capable of powering from 0 to 60mph in a little over 8 seconds and had a top speed of 121 mph. Rather surprisingly, only just over 8,000 of these sports cars were sold here in the UK.

A 1978 Fiat 124 Spider achieved a sale price of £7,875 having had an estimated price of £10,000 to £13,000. Around 200,000 of these cars were built with this one coming over from the USA. It has a red bodywork with a black soft-top.

A 1980 Leyland Mini “Orange Crush” was sold for £6,187 having had an estimated sale price of £5,000 to £7,000. This particular car has been on Top Gear. It has only done 11,000 miles and has a 1,275 cc engine. It was originally a Mini 1000 but has been significantly adapted.

There are no doubt many other classic cars that can be found around the UK for less than £10,000 meaning that owning such a vehicle is within the financial capability of many people.

If you are considering buying a classic car then you may wish to get in touch with us with a view to obtaining a quote to insure the vehicle. You may be pleasantly surprised at, potentially, how affordable obtaining such cover can be. We look forward to being of assistance.

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Shop Around For Your Classic Car Insurance

If you are the proud owner of a classic car then it is highly likely that you will also own a modern vehicle for your day-to-day driving. Both those vehicles will no doubt be adequately insured but how often do you bother to shop around to make sure that you are getting a competitive deal on insuring your vehicles?

It is quite possible that you may check to see if you can get a better deal on the insurance covering your modern car but it is possibly less likely that you do the same when it comes to insuring your classic car. This may be because you feel that the premium you are paying to insure your classic car is perfectly affordable and may be less than you are paying to insure your modern runaround.

However, in today’s economic climate, wouldn’t you love to save some money on a monthly basis that can then be used for other purposes? If the answer is “yes” then why not shop around when you receive your renewal notice from the existing insurer of your classic cover. You may be pleasantly surprised to discover that you may be able to arrange cover for your cherished vehicle but at a lower premium than you are presently paying.

It is a simple and quick process to obtain one or more competitive quotes for classic car insurance from one or more insurance companies. One way to do this is to use the services of one or more price comparison websites that arranges all sorts of insurance or to use the services of such websites that specialise in providing quotes for classic car insurance.

Having obtained a number of quotes and compared the policy features and benefits without any obligation, you can make a decision as to what you want to do – stay with your existing insurer or move to another provider. Don’t forget, if you have obtained a cheaper quote from another insurer, why not ask your existing provider if it will match or better the premium quoted. After all, if you don’t ask you don’t get and, who knows, you may be able to save a reasonable sum of money.

So, if you are looking for a quote to insure your classic car, why not get in touch with us today and we will help to arrange such a quote. It may be to your financial advantage to shop around.

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Is It Expensive To Maintain A Classic Car?

If you are considering buying a classic car then there are a number of factors that you may feel it necessary to take into account such as how much it is likely to cost to maintain such a vehicle. As with most things in life, the cost is likely to vary based upon a variety of things.

For instance, if you buy a classic car that has been restored to a very high standard, then the cost of maintaining it may well be less than if the car is in need of a lot of tender loving care and attention. If you were able to afford to buy the likes of a classic Ferrari 250 GTO for many, many millions of pounds then the maintenance costs are likely to be an awful lot more than if you spent £5,000 on a classic vehicle.

As it is less likely that you will travel as many miles in a classic car than a modern car that you use for everyday use then it is unlikely that you will need to replace the tyres as frequently. However, the tyres for a classic car may be rather special and therefore may cost more than tyres for a modern vehicle.

If you are a classic car enthusiast who enjoys servicing your own vehicle then the maintenance costs are likely to be less than if you need to employ the services of a classic car mechanic. Some owners prefer to use the services of a mechanic who specialises in looking after classic cars. It is worth bearing in mind that if you are looking for your car to only use original parts then these are likely to cost more than if copied mechanical parts are used.

You may wish to join a classic car club that only has members who own a make of classic car that you own. One of the potential benefits is that you may be able to get some help in maintaining your vehicle for a modest cost.

It is also worth bearing in mind that the cost of maintaining a classic car that was built in the UK may be less than that of looking after a car that was manufactured overseas.

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Interesting Classic Cars To Be Auctioned By Bonhams In USA

Some of you who are classic car enthusiasts may fancy a trip to Pennsylvania, USA to attend Bonhams Collectors Motorcars’ and Automobilia Auction that is to take place on the 8th October 2018. You can find out more details about numerous classic cars that are being sold at the above event by visiting Bonhams website but we highlight a small number of the cars that are being offered for sale below: –

A 1931 Rolls-Royce 40/50hp Phantom 11 Newmarket Convertible Sedan with a 6-cylinder 7,668cc engine is being offered for sale with an estimated price of £230,000 to £300,000. The coachwork was completed by Brewster & Co. This delightful vehicle has travelled less than 35,000 miles since it was first manufactured. It is 1 of only 125 of these left hand drive cars built making it quite rare. The vehicle is said to be in excellent condition.

A 1954 Kaiser Darrin 161 is being offered for sale with an estimated price of between £110,000 to £140,000. This delightful left hand drive two-seater soft-top sports car has apparently been restored beautifully. It has a 6-cylinder 161 ci engine producing 90 bhp. This is also a rare vehicle as only 435 were built. The bodywork and much of the interior is in a pale green colour.

A 1953 Jaguar XK120 Roadster has an estimated sale price of between £68,000 to £87,000. This red, left hand drive classic sports car has only done 5,900 miles so it has an extremely low mileage with this no doubt adding to its appeal. It has a 6-cylinder 3,442cc engine producing 160 bhp. It is said to have been extremely well preserved.

As stated earlier, there are many other classic cars being offered for sale at the above auction. You may wish to study their brochure online.

The cost of insuring any of these vehicles will no doubt be quite significant. If you are looking to insure your classic car then why not get in touch with us and we will help arrange for you to receive a competitive quotation.

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Are These Modern Classics Going To Rise In Value?

We have tended to focus on older classic cars when reporting on vehicles that have been sold at auction but, on this occasion, we thought we would talk about some modern classic vehicles that, according to information provided by Parkers in conjunction with the Modern Classics magazine, may rise in value over the next few years. Obviously, nobody has a crystal ball and, therefore, cannot be certain what cars will go up in value so do make sure that you do your own due diligence if you are considering buying a modern classic car as an investment.

How about an Alfa Romeo Brera Prodrive S that can presently be bought for between £10,000 to £15,000 but it is being forecast may fetch as much as £20,000 in five years time. There are two versions – the 2.2 litre one and the 3.2 litre one with the later having a V6 engine. As only 500 of the later were built, it is felt that it is the preferred option.

You could consider a manual version of the BMW 3 Series M3 (E92) with its breathtaking acceleration and sporty looks. At the moment, you could pay between £20,000 to £25,000 but it is being forecast that in 2023 it could fetch a price in the region of £30,000.

If you have a little bit more in your savings account then you could consider buying a Porsche 911 GT3 (996). This is a nippy sports car and looks fantastic. Currently, they are selling for between £70,000 to £100,000 but by 2023 it is being forecast that they could be worth £110,000 plus.

At the other end of the scale how about a hot hatchback – the Ford Focus ST170. It can be bought for between £1,000 to £5,000 but come 2023 it may be worth in the region of £10,000.

A number of other modern classics that may increase in value are mentioned on Parkers website.

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Ferrari 250 GTO Auctioned For Record Price

Classic car enthusiasts will be interested to read that another Ferrari has been sold at auction for a world record price. It was a 1962 Ferrari 250 GTO that was sold for the huge sum of $48,405,000 at RM Sotheby’s, Monterey auction in California, USA a few days ago. That is in excess of $10 million more than the previous record for such a make and model of car.

As you may be aware, the Ferrari 250 GTO is an extremely rare vehicle with only 36 being built. Needless to say, these classic sports cars were manufactured to an exacting standard and this one has the wonderful red bodywork. Apparently, there were three people bidding for the car until it was sold to an anonymous buyer.

This delightful classic vehicle had been in the same ownership since around 2000 until it was sold a few days ago. The car has quite a racing pedigree having taken part in a number of races over the years and was actively driven by the previous owner.

Another interesting sale that took part at the above auction was a 1963 Aston Martin DP215 Grand Touring Competition Prototype that was sold for $21,455,000. This particular car competed in the 1963 Le Mans race and became the first car to exceed a speed of 300 kph at the Le Mans event.

There were many other fantastic vehicles sold at the above auction details of which you can easily find on RM Sotheby’s website that we are sure you will find of interest.

It would be interesting to find out how much it would cost to insure the above classic Ferrari 250 GTO. In this respect, if you are the proud owner of a classic vehicle, why not get in touch with us and we will be pleased to help arrange for you to receive a no-obligation classic car quotation for your perusal.

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Eye-catching Classic Cars To Be Auctioned

Those of you who are classic car enthusiasts and are considering buying one may wish to get along to Bonhams The Beaulieu Sale Collectors’ Motor Cars & Motorcycles and Automobillia that takes place on the 1st September 2018 at the National Motor Museum in Beaulieu. If you look on their website, you will find that there is an extensive range of vehicles being auctioned some of which we mention below.

For instance, how about a 1972 Jaguar E-Type Series 3 V12 Roadster. It is left hand drive and has a 5.3 litre engine producing 272 bhp capable of taking this delightful classic sports car to a top speed of over 140 mph. It has an estimated price of £80,000 to £90,000.

If you have a little more in your bank account then you may want to take a look at the 1964 Jaguar E-Type ‘Series 1’ 3.8-Litre Roadster. Another left hand drive vehicle that has a 265 bhp engine. It has a soft top enabling you to maximize the sunny weather we have been seeing lately. This has an estimated price of £120,000 to £160,000.

You may need to break into your savings account if you fancy owning a 1924 Bentley 3-Litre ‘Speed Model’ Tourer. This wonderful classic open topped saloon car has been in the same ownership since 1966 and was refurbished as recently as 2016 and the engine was rebuilt only last year. This car has an estimated price of £250,000 to £300,000.

A little more affordable for some classic car enthusiast may be a 1964 Morgan Plus 4 Drophead Coupé that went through a restoration program recently between 2015 and 2017. This one has a 2,138cc engine and it is a nippy soft-topped sports car that looks fantastic.

How about this 1937 Opel Kadett Coupé that looks absolutely lovely. Its engine has been rebuilt and has an estimated price of £4,000 to £6,000.

Why not take a look at this 1958 Morris Minor 1,275cc Convertible. Apparently, it has been serviced on a regular basis and was partly restored around 2010. The hood was renewed only 4 years ago. This delightful looking classic car has an estimated price of £5,000 to £6,000.

There are numerous other classic cars for sale at the above auction with a vast range of prices so there may be something that appeals to you. Don’t forget to make sure that, if you do buy one, that suitable classic car insurance is arranged to provide you with peace of mind. In that respect, why not get in touch with us and we can arrange for you to receive a competitive, no obligation quotation.

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Concours Of Elegance 2018 – Not To Be Missed

If you have an interest in classic cars then you may wish to try to get along to the Concours Of Elegance that takes place at Hampton Court Palace between 31st August 2018 and 2 September 2018. What a wonderful location to hold such an event and let us hope that the weather is as good as we have been seeing here in the UK in recent weeks.

Over 300 vehicles are hoping to be on show, of which 60 are believed to be some of the rarest cars on the planet. Many of them have never been on show in the UK in the past.

On the opening day, there will be 60 rare cars that make a grand entrance so this will be a wonderful opportunity for all you classic car enthusiasts to see such vehicles being driven rather than just in a stationery position.

On the Saturday one of the things that takes place is the Jaguar Trophy when around 90 Jaguars will be on display hoping to win the prestigious trophy. Also on the day, there will be a number of well-known car club members bringing along their vehicles to Hampton Court. This will include not only some luxurious cars but also some performance cars.

On the Sunday there will also be quite a lot of things taking place including the Bentley Trophy when 90 Bentleys will be on display hoping to win this prestigious award. Once again, just as on the Saturday, there will be a display of cars from other car clubs. At the end of the show, the 60 rare cars will drive off – again, something not to be missed.

Some of the cars expected to be on show include a 1903 Panhard et Levassor, 1920 Ballot 3/8 LC, 1929 Rolls-Royce Phantom 1 Brewster Rivera Town Car, 1935 Tatra 77, 1956 Bentley S1 Continental Coupe by Park Ward, 1962 Ferrari 250 SWB Berlinetta Scagkietti 3367GT, 1971 Lamborghini Miura P400S, 1992 Jaguar XJ 220 and a 2018 Ferrari GTC4 Lusso “Tailor Made” Arancia.

So, if you are a fan of automobiles, why not get yourself along to Hampton Court Palace and enjoy one or more days admiring some of the rarest cars in the world.

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Classic Aston Martin Sells For Record £10 million

A rare classic 1961 Aston Martin “MP209” DB4GT Zagato Grand Touring Two-Seat Coupe driven by a famous racing driver has recently been sold by Bonhams for over £10 million. The sale price of £10, 081,500 was a record for a British car sold in Europe at an auction.

The coupe was driven by the legendary Jim Clark who was Formula 1 World Champion on more than one occasion. He raced the car at both the RAC Tourist Trophy at Goodwood and also at the Paris 1,000 Kilometres. Unfortunately, in the first mentioned race the vehicle crashed and in the second the car had a mechanical problem.

Apparently, there were only nineteen of the Aston Martin DB4GT Zagatos built so it is extremely rare but only three of them were of the “MP209” type. This is no doubt one of the reasons why it achieved a record sale price at the auction.

The car has been in the same family ownership for 47 years and has been looked after very well. It appeared in a number of other races until 1991. Since then it has attended a number of shows.

Such classic cars are no doubt very expensive to insure but presumably the new owner will want to protect his or her investment. There are many insurers who provide classic car insurance so it is important that one is chosen that will provide an excellent level of cover for an affordable premium. There are many ways that this type of insurance can be arranged such as by going online and using the services of one or more price comparison websites or picking up the phone to a broker who specialises in insuring classic cars. There are also various classic car clubs that have arrangements with insurers for their makes of car who you could get in touch with.

We have seen a fall in car insurance premiums in recent months. So, perhaps it may be possible to arrange cover on this classic 1961 Aston Martin “MP209” DB4GT Zagato car for less than may have needed to be paid say a year ago.

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