5 Tips For Evaluating Classic Car Insurance Companies If you select the best policy, insurance on classic motor cars doesnt have to be as expensive as you might think. Insurance companies are aware that the vehicle being insured is a collectible, which cars are often better maintained and driven more infrequently than modern commuter vehicles. Unfortunately, choosing the right policy is the place many motor motorists make a mistake. Over half all classic cars are insured by a mainstream motor insurance company, as opposed to a specialist who deals in motor cars. However there is some evidence that backs up the thought that older drivers are involved in more accidents compared to average driver. Statistics show that around 8% of significant or fatal accidents involved drivers more than 70 - it doesnt suggest that they can caused the accidents needless to say. Further evidence implies that those over 70 are more inclined to claim on the automobile insurance than people within their mid 40s. Of course, anybody of their 40s that is working are able to save their no claims bonus in the occasional bump and scrape. Pensioners will often be living on limited incomes and dont are able to complete a bit of overtime to cover unexpected costs - so all that one statistic illustrates is which they may need to claim on their own insurance. Even though your classic car is more american car insurance vs uk valuable than the four-door sedan your loved ones drives around it is also far more harmful for repair should any sort of accident occur. This is why insuring these beautiful old cars can be so expensive. In many cases original parts shall no longer be being manufactured and scouring the junkyards to locate replacement parts in the event of an accident can be extremely time-consuming and costly. If youll have purchased your vehicle within the year it had been made, you would have given thousands of dollars under how its worth today. If your motor vehicle continues to be completely restored, it is probably worth at the very least 3 x more cash, or even more. You want to make sure that the insurance provider which you choose can offer you the coverage that you simply need to cover the value of your automobile in the current society. You have a great deal of time and cash committed to the classic vehicle that you just own, so there isnt any room for error here. A really easy way to get yourself a lower insurance premiums is to raise your excess level on the policy, this will likely provide you with a cheaper quote, but only because in the event of an incident on your own vehicle youve agreed to offer a larger contribution towards fixing the vehicle as well as any personal damage claims.