As with any contract, the price of classic car insurance depends on many parameters. The profile of the driver and the vehicle to be covered directly impact the price of the annual insurance premium. ferrets bring you here their light on this thorny question.
What is a collectible car?
Before talking about the price of insurance, it is essential to clearly define what a classic car is from a legal point of view. It is on this definition that all insurance companies will base themselves to establish their commercial proposal. The distinction between an old car and a collector’s car has all its importance on the amount of the insurance premium as well as on the possible use of the vehicle.
A classic car must, above all, have been registered for the first time at least 30 years ago , but this is not the only requirement. This vehicle must no longer be marketed by its manufacturer . It therefore has historical value, but for it to be valid, it must be consistent with the origin . This means that no technical or structural modification must have been made to its chassis or bodywork.
Similarly, its engine must also conform to the original engine although it may have been replaced by a similar model, same reference, same cubic capacity and same power. A carburettor engine cannot be transformed into an injection engine, for example. All repairs must have been made respecting the original parts with period parts .
Once all these conditions are met, the vehicle only becomes a collector’s car if its owner requests it. To do so, he must file a request in writing with the FFVE and the administration. Otherwise, it is simply an old vehicle with the same obligations as a more recent vehicle: technical inspection every 2 years, access refused in the ZFE.
How much does collector car insurance cost?
The question of the price of insurance for a classic car is a thorny subject. There are many parameters to take into account to establish the amount of the annual contribution. Each company has its own price list and calculation method that it applies according to certain criteria.
However, all insurances are based on the same parameters:
- Driver profile: age, insurance history, bonus-malus coefficient, address and type of parking lot of the vehicle to be covered
- The vehicle: make, model, year, power, value
- The type of guarantee: third-party or all-risk insurance, options, expert’s value, etc.
It is therefore quite difficult to answer precisely the question of the price of insurance for a collector’s vehicle. In general, it can be estimated that classic car insurance costs, on average, between 150 and 200 € per year . In any case, ask for a quote online to know the exact price of the auto insurance chosen according to your criteria.
Often, insurance companies seek to restrict the use of a classic car to limit exposure to risk. They can refuse to cover the vehicle for commuting or limit the annual mileage, for example. The age required by insurance to agree to cover a classic car is 21 years old. They also require having a driving license for at least 3 years.
Third-party insurance will be more economical than more comprehensive insurance such as all-risk insurance. However, depending on the value of the vehicle, an expertise may be necessary to take out a suitable guarantee. It will make it possible to obtain adequate compensation in the event of a claim.
Find your classic car insurance with lesfurets
To find car insurance for a collector’s vehicle at the best price, you can canvass local insurance agents and compete to lower your premium. This technique is quite tedious, although it can give interesting results. There is a much more effective method to get the best prices without putting in the effort.
You can save time thanks to the Internet by going to an online insurance comparator. lesfurets put all their skills and their network of insurance partners at your disposal. They will help you find insurance that meets your needs. No need to run around town, compare the offers of different companies from your living room.
Accessible free of charge 24 hours a day, 7 days a week, lesferets can provide you with several insurance proposals. Simple and easy to use, the online comparator offers you quotes adapted to your driver profile, your car and your use of the latter. You can save up to 360 euros on your next contract without leaving your home.
