Those of you who own a classic car are likely to also possess another vehicle that you use for your daily commute to the office or to do your weekly shop only taking out your vintage vehicle for a Sunday jaunt when the weather is good. If you are in that situation then you will presumably be insuring both vehicles so, whilst not guaranteed, if the cost of insuring a family hatchback goes up it is possible that the premium for insuring a classic vehicle will also rise.
So, readers will be disappointed to hear, that according to the price comparison website Confused.com, the average premium paid by a motorist in the 2nd quarter of this year has gone up by £4 per annum in comparison to the previous quarter to an average of £554 per annum. Whilst this is not a very large increase, in the last year, premiums have gone up by an average of £32 per annum.
Of course, that is an average figure taking into account the whole of the UK. However, if you happen to reside within Inner London, you may be paying considerable more as you are more likely to be involved in a road traffic accident or have your car stolen than in some other regions. Inner London residents are paying an average of £882 per annum with their premiums having gone up by £74 per annum in the past 12 months.
If you have just received your renewal documentation for your classic car insurance then it could be a good time to check to see if you can get quality cover for your cherished car elsewhere. You will be pleased to read that we have access to a panel of respected, well-known insurers. So, don’t delay – get in touch with us today to obtain a competitive quote. We look forward to being of assistance.