What is classic car insurance?
Key takeaways
HMRCs definition of a classic car is that it is at least 15 years old and has a market value of £15,000 or more
Some classic cars may not qualify for standard insurance and require specialised classic car insurance
Cars over 40 years old are exempt from MOT checks and car tax
What is a classic car?
There is no definitive answer on when a vehicle achieves classic status.
According to the HMRC, a classic car is at least 15 years old and has a market value of £15,000 or more
To qualify for classic car MOT exemptions and vehicle tax exemption, your car must be over 40 years old
When it comes to insurance companies, the definition varies across providers
Do I need classic car insurance?
Car insurance is a legal requirement in the UK if you plan to take your classic car on the road (or park it on public land). Classic cars do not necessarily need specialised cover and you may find you can insure yours on a standard car insurance policy.
However, some types of classic cars may not qualify for standard car insurance because of their high value and expensive repair costs. For these cases, there are providers that offer specialised policies for vintage and classic cars.
These kinds of policies will usually offer tailored cover and benefits that are specific to classic vehicles, including cover for collectors, wedding vehicles, and classic car club memberships.
If you are not currently driving your classic car you can apply for a SORN (Statutory Off Road Notification) from the UK government, which exempts you from the car insurance requirement. Of course if your vehicle is not insured, you will be financially responsible for repairing or replacing it if it is stolen or damaged.
What kind of cover do classic car owners need?
If you have a classic car, you may wish to consider an agreed value policy. This guarantees a set payout if your car is written off or stolen, based on the car's market value at the policy's start. Standard car insurance factors in depreciation, so generally pay out less as a car gets older.
Classic cars are unusual in that they often appreciate in value over time, so without agreed value insurance you could end up getting less for your classic car in the event it’s stolen or lost.
What are the categories of older cars?
The table below explains the different types of older cars and how they’re categorised:
Car type | Definition |
|---|---|
Veteran | Any vehicle built before WW1. |
Vintage | Any vehicle built before 1930. |
Post vintage | Any vehicle built between 1930 and 1945. |
Classic | There isn’t an agreed definition when it comes to what makes a car a ‘classic’. If you use tax exemption status to determine if a car is classic, then it’s any car aged 40 or over. |
Does a classic car need an MOT?
If your car is over 40 years old then it is exempt from MOT checks and car tax.
You will need to apply on the government website to be exempt for MOT and road tax. Your car will need to not have undergone any substantial changes in the last thirty years to be exempt from MOT checks.
If your car is less than 40 years old you’re legally required to get an MOT check for your vehicle, even if HMRC or insurers consider it to be classic.
Can I compare classic car insurance quotes at MoneySuperMarket?
We do not currently offer quotes for specialised classic car insurance policies.
However, our standard car insurance providers will cover some classic cars - just fill in a few details about your classic car and we'll show you which deals are available.
