If you own a classic car it is quite likely that you will also possess a family saloon or hatchback. If so, you will be interested to read that the average cost of car insurance has increased in the first quarter of 2022.
We are sure that you will agree this is something that motorists could have done without as they are currently faced with high prices for such things as petrol and diesel on UK forecourts, increased mortgage interest rates and domestic fuel bills.
According to the Confused.com Car Insurance Price Index the average cost of car insurance was £550 per annum in the first quarter of 2022. In Q2 of 2021 the figure was an average of £522 per annum, in Q3 of 2021 the average cost was £514 per annum and in Q4 of 2021 the average cost was £529 per annum. This is the first rise in 1 and ½ years when compared with the previous 12 months.
Whilst just because car insurance premiums have risen this does not mean that the same thing has happened with the cost of classic car insurance but perhaps it would not be surprising if it has.
A driver’s age is one of the factors that has a bearing upon how much insurance companies charge for car insurance. Generally speaking the younger you are the more it will cost you for such cover. For instance, a 69 year old pays an average of £316 per annum, a 30 year old an average of £750 per annum and an 18 year old an average of £1,419 per annum.
So, if you have classic car insurance and your policy is shortly coming up for renewal or you are buying your first classic vehicle and need insurance cover why not get in contact with us at your earliest convenience with a view to obtaining a competitive quotation without any obligation to proceed.