Car insurance premiums continued to increase in the first quarter of 2017 according to the AA British Insurance Premium. It is quite possible that the cost of insuring a classic car has also gone up in the same period.
In the first quarter of this year, fully comprehensive car insurance premiums for modern cars rose by an average of 0.7% per annum. That would appear to be a moderate increase although in the 12 months to the end of the first quarter of 2017 such cover rose by 12.9% – a significant increase that motorists could have done without.
The rise can be partly attributable to the change in the Ogden Discount Rate upon which compensation payouts are based. Increases in the Insurance Premium Tax (IPT) will also have had an impact on the cost of covering your classic car and there is nothing that can be done to avoid paying such a tax.
So, if you are either looking for a great deal on classic car insurance for a new vintage car or your existing cover is shortly due for renewal, why not obtain a competitive quotation with the assistance of ourselves. Over the years, we have been able to help a significant number of clients with their vintage car insurance so, hopefully, we can do likewise for you.
There are many providers of classic car insurance that means it is an extremely competitive industry. Therefore, it would be sensible to use the likes of us to help obtain suitable cover for your cherished vehicle.
Classic motor insurance is a specialist form of cover and, as such, the customer must feel confident that they have the most appropriate level and type of cover but for a competitive premium. For our part, we will do all that we can to assist you in obtaining suitable, competitive cover. We look forward to hearing from you.