According to MoneySuperMarket.com that is a well-known price comparison website, the average cost of fully comprehensive car insurance unfortunately rose in the last quarter of 2018. This news will no doubt disappoint some motorists including those who also drive classic cars as they may well have seen both the cost of insuring the family car and their vintage vehicle go up.
The above comparison website found that in Q4 of last year the average premium for comprehensive car cover was £514 per annum with this being some £30 per annum more than the average cost of insuring a car for that level of cover when compared with Q3 of 2018. Yes, that is concerning but it should be borne in mind that in the 4th quarter of 2017 such insurance cost an average of £574 per annum meaning that we have seen premiums fall by an average of £60 per annum over a 12 month period.
This could mean that the average cost of fully comprehensive classic car insurance has changed in similar percentage terms. If this is the case then what can the motorist do to try to mitigate this?
Well, you should not just accept the renewal quote you receive for insuring your classic car. You should shop around to see if you can get the same level of cover but for a lower premium from another provider. There are numerous price comparison websites that you can check to see how much you could insure your vintage vehicle for and it will cost you nothing to find out other than a little bit of your time. As these websites are available 24/7 you can obtain quotes at a time that is convenient to yourself i.e. on a weekend or after you return home from work in the evening.
There are no doubt some motorists who go through this process and switch classic car insurers but, when their policy comes up for renewal again in a year’s time, they do not bother to see if they can get the cover cheaper elsewhere. There is no reason why you should not go through the same process each year to see if you could save yourself some money.