Classic Car Insurance...
Okay okay,
I know there are a lot of threads on this and have been reading some, but I think it's more a personal answer that I need because other threads have mixed opinions and suggestions.
A couple of weeks ago I read a thread about it and how it is "cheaper than conventional car insurance", which shocked me and I did a bit more research. Indeed it apparently was, and another thread said teens have been using this for years to get cheaper quotes.
So, I started looking around and found a great Mazda Mx-5 online, 1997 model year and still in great shape. I then rang up a couple of classic car insurance firms which I saw listed in another thread, and was quoted by one for £10,000, four times the value of the car!
The rest said I was uninsurable due to my age.
I'm 18; It would be my first car; I would be the primary driver; Safe neighbourhood and with car on the drive.
Is this wrong? Should it be much cheaper? What can I do...?
Was foolishly expecting it to be ~£500 or something.
I know there are a lot of threads on this and have been reading some, but I think it's more a personal answer that I need because other threads have mixed opinions and suggestions.
A couple of weeks ago I read a thread about it and how it is "cheaper than conventional car insurance", which shocked me and I did a bit more research. Indeed it apparently was, and another thread said teens have been using this for years to get cheaper quotes.
So, I started looking around and found a great Mazda Mx-5 online, 1997 model year and still in great shape. I then rang up a couple of classic car insurance firms which I saw listed in another thread, and was quoted by one for £10,000, four times the value of the car!
The rest said I was uninsurable due to my age. I'm 18; It would be my first car; I would be the primary driver; Safe neighbourhood and with car on the drive.
Is this wrong? Should it be much cheaper? What can I do...?
Was foolishly expecting it to be ~£500 or something.
I used to work for an insurance company. When you take out classic car insurance it depends on many different things. To qualify it needed to be things like your second car, very low mileage each year with No claims bonus on your first car as most classic car policies do not make up no claims bonus. Being 18 is not going to be any different i'm afraid.
Original post by FXX
A 15 year old Mazda MX-5 is still a sports car 
this
Original post by FXX
A 15 year old Mazda MX-5 is still a sports car
Really? Oh.
Is that why I was quoted £10,000 then? Could you recommend any cars that are 15 years old and would be just classified as a 'classic' and not a sports car?
I read a thread where someone recommended them, and I spent ages trawling sites online to find a 'cheap' one that was really nice...Basically I'm just trying to get cheaper car insurance through classic car insurance...with a car that isn't going to fall to pieces and doesn't look like it will?!
Original post by PlantVZombie
I used to work for an insurance company. When you take out classic car insurance it depends on many different things. To qualify it needed to be things like your second car, very low mileage each year with No claims bonus on your first car as most classic car policies do not make up no claims bonus. Being 18 is not going to be any different i'm afraid.
I see! Thank you! What can I do to get it lower? Or is there nothing?
Original post by her0n
Is the 5 a jap import or UK model?
Basically everything else other people have said.
Just for perspective, I'm 26, been driving 7 years, good postcode and my 2004 MX-5 costs about £470/yr to insure with Aviva.
Basically everything else other people have said.
Just for perspective, I'm 26, been driving 7 years, good postcode and my 2004 MX-5 costs about £470/yr to insure with Aviva.
It's an MX-5 Harvard but I don't have a clue if it's jap or UK, how would I find out?
How on earth do you get it so cheap?! I think I live in a good postcode, there's pretty much zero crime in the neighbourhood...£470 is round-about the target I was aiming for, which is why I was in shock when they said £10,000
If you insist on going for classic insurance, try an old MK1/2 Golf instead. A rear wheel drive sports car just isn't going to work.
I don't know who's told you that any 15 year old car will be really cheap to insure but they're clearly wrong. I expect a McLaren F1 would cost more than £500 to insure for a 17 year old, for example.
Unless you find a reliable old banger that you can put on a classic car policy at such a young age with zero no claims bonus and using it as your main car, you're going to have to spend at least £1000 on insurance*. Just remember that, as someone said earlier, many classic car policies don't attract no claims bonus that you can apply to modern cars so you may be shooting yourself in the foot in the long run. her0n's age and driving experience (and presumably solid NCB) is how you get cheaper premiums.
EDIT: *unless you sign up to one of those smartbox policies which limits when you can drive and tracks how well you drive.
I don't know who's told you that any 15 year old car will be really cheap to insure but they're clearly wrong. I expect a McLaren F1 would cost more than £500 to insure for a 17 year old, for example.
Unless you find a reliable old banger that you can put on a classic car policy at such a young age with zero no claims bonus and using it as your main car, you're going to have to spend at least £1000 on insurance*. Just remember that, as someone said earlier, many classic car policies don't attract no claims bonus that you can apply to modern cars so you may be shooting yourself in the foot in the long run. her0n's age and driving experience (and presumably solid NCB) is how you get cheaper premiums.
EDIT: *unless you sign up to one of those smartbox policies which limits when you can drive and tracks how well you drive.
(edited 11 years ago)
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