If you own a classic car then it is quite likely that you will also drive a family saloon car as well. If that is the case then it means you will probably be responsible for insuring both vehicles. Therefore, you will be pleased to read that the average cost of fully comprehensive car insurance continues to fall according to the latest Confused.com Car Insurance Price Index.
Whilst the above index refers to standard cars it is to be hoped that the average cost of insuring a classic car has also fallen.
According to the above index, the average premium as at the end of May 2025 was £757 per annum. If you were to refer back to the same index produced in January 2024 that covered the quarterly period ending 2023 premiums averaged £995 per annum. We are sure you will agree that is a significant drop. In fact premiums have been coming down on a regular basis since then. Let us hope that this pattern continues as there are many people here in the UK that are going through difficult financial times.
As at the end of February 2025 premiums averaged £777 per annum so in the space of 3 months premiums have come down by an average of £20 per month.
Young drivers, on average, pay more to insure their cars with an 18 year old paying an average of £2,329 per annum and a 17 year old an average of £2,051 per annum. A 31 year old pays an average of £992 per annum and a 46 year old an average of £688 per annum.
Another factor that impacts how much you will pay for car insurance is where you live. If you happen to reside in Inner London then premiums average £1,185 per annum that is the most expensive region. Those residing in Northern Ireland pay an average of £852 per annum and in South Wales an average of £598 per annum. The cheapest region is the South West with premiums averaging £515 per annum.
We have said it on many occasions but why not take the time to shop around when it comes to obtaining classic car insurance whether you are looking for cover for the first time or your existing cover is coming up for renewal. In that respect why not give us a call to obtain a quote.
