Auto insurance for classic or historical cars
Discover what insurance a vintage car needs
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What do the main insurers offer to classic cars?
Classic cars are vehicles that, due to their characteristics, do not adapt to any policy. In most cases, they are used very sporadically: in exhibitions, collectors' meetings, in case of transfer to be sold, etc. Their annual mileage, therefore, is very limited and this is reflected in the policies designed for them. They require travel assistance that takes into account their particularities. Nor are cars that are going to be parked on the street and the risk of an accident is very low, compared to that of normal tourism.
It is precisely these characteristics that mark the offer of insurance available to them. In all cases we have found, insurers only offer a single type of insurance, with a level of protection of a policy to third parties and optional coverage. In addition, there are very few insurers that bet on this product, since its market is more limited than that of other passenger cars.
Helvetia: insurance for collectors
The Helvetia Classic Car Insurance has certain advantages if you are a collector of classic vehicles. In addition to offering closed prices (insurance from 50 euros per year), discounts apply from the third classic car insured with them. You can also hire it if you have a van, a motorcycle or a classic moped.
AXA: a policy with many options
AXA Seguros part of the basic guarantees: Compulsory and Voluntary Civil Liability, Legal Protection and Personal Accidents. But it falls apart from its competence by giving the possibility of including the coverage of own damages at first risk. However, it is not the only optional coverage it offers to make your Classic Car Insurance even more complete. It also offers the option of hiring the return of the car at home for 25 euros (after being repaired by accident or breakdown), broken windows at first risk for 20 euros and travel assistance from kilometer 0.
However unique, a circumstance resembles the classic car with the rest of the state's mobile park: it has to be insured. The exclusivity of this type of vehicles requires compliance with requirements in the signature of classic car insurance, which are:
- The policyholder must be the owner of the car.
- The car must be at least 25 years old to be considered historical. In some cases it is accepted that you do not have historical registration if you are over 40 years old.
- The driver must be at least 25 years old.
- Also, you must have more than one year old card.
It is very possible that the insurers establish some restrictions in this type of insurance, such as offering it only to vehicles with historical registration, limit the use to 5,000 kilometers per year, demand the existence of another vehicle for habitual use and force the car to "sleep" "in garage. With everything and with it, the price of auto insurance for classic cars can be higher than that of a normal vehicle. For example, insuring a 15-year-old Seat Ibiza will be considerably cheaper than hiring car insurance for any classic or historic car.
While it is true that the mileage of classic or historical cars is much lower and therefore the accident risks also decrease, the insurer contemplates some risks:
Theft: These vehicles are jewels and, in some cases, their high value makes them a very greedy target for thieves. In addition, being old, they do not have the safety mechanisms of modern cars.
Repair: We must remember that we are talking about unique vehicles and, therefore, the repair costs will be much higher, since more time will be needed and the parts will be more difficult to find. In addition, its age can cause it to spoil more frequently.
Venal value: As we explained earlier, historic cars are a great investment opportunity because, especially those that are well preserved and maintain good operating conditions, offer a great performance of revaluation year after year. Thus, good auto insurance must collect the historical value of the vehicle and this will make the price considerably more expensive.
Advantages in insurance for classic or historical cars
From there, each insurer has its own characteristics and can offer additional services. Some of the advantages of classic car insurance are, for example, coverage for the use of the vehicle at a relative's wedding or at fairs and concentrations of vintage cars. Likewise, some entities may positively value the customer being part of one of the many federated classic car clubs in Spain.
In addition, historic vehicles or those that were manufactured at least 25 years ago do not have to pay the Traffic Tax, since they have a 100% Autonomous Community bonus). These have, in turn, more time to pass the ITV (the vehicle can be checked every five years and not every year).
Therefore, before insuring your vehicle, we advise you to first make an insurance comparison at Acierto.com, to help you analyze the coverage, advantages, disadvantages and different possibilities offered by the main insurance companies in our country.
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