Competition within the Classic Car Insurance Market Classic cars are already defined differently over time depending on the age and make of the car. Most insurance companies however classify them as vehicles more than 25 years which can be still in a well maintained condition. These vehicles fall inside collectibles category in addition to their insurance is dependent upon several factors like the age in the car, make, design as well as other factors that the insurance providers may ask e.g. the safety of the car, drivers age and level of where to buy classic car insurance experience e.t.c. A powerful car cost you more about insurance as statistics show that the repair charges of top rated cars will be more than ordinary types of cars and high performance cars tend to be more likely to be involved in accidents. However, you can slow up the insurance fees by staying with a few recommendations. If your car can be a collectible, avoid standard car insurance policies whenever possible. For motor cars, the best choice is with one of several two other sorts of insurance available: Stated Value and Agreed Value. Under a Stated Value agreement, the insurer allows you to state the need for the vehicle, and usually, here is the amount youll be reimbursed in the case of an insurance claim. However, depreciation could be factored in, and youll must look at terms and conditions of the policy to ensure that a policy is, the truth is, to the stated value. Its also likely that you will must pay a deductible within a Stated Value claim. Many tailored classic motor insurance providers can provide a substantial deduction on premiums should they be registered with official driving organisations and clubs which underline a significant commitment and fascination with classic cars. Tailored classic motor insurance firms remember the fact that historic motorists take great proper care of their vehicle and for that reason provide cheaper overall premiums. As well as the usual claims on automobile insurance, a classic car can be more at risk from theft. Vintage cars certainly are a highly desirable vehicle, and could be targeted by thieves who know what theyre looking for. 115, 000 incidents of car theft were reported in 2009-2010 in accordance with the Home Office along with the Home Office Car Theft Index showing that older cars are in the best risk of being stolen. They report that cars greater than nine yrs . old take into account nearly two-thirds of all cars stolen in the UK.