Drivers of classic Volkswagen cars could be missing out on significant savings by not switching to specialist classic car insurance policies. According to a new study by the comparison website Quotezone, owners of a Volkswagen Beetle could save up to £300 a year by opting for a classic car insurance policy rather than a standard one.
Specialist Policies Offer Tailored Cover
Classic car insurance is designed specifically for vehicles that are not used as a primary mode of transport. These policies often come with lower premiums because the cars are driven less frequently and are typically stored in garages. Quotezone analysed quotes for a 1972 Volkswagen Beetle and found that the average classic car insurance premium was £156, compared to £456 for a standard policy – a saving of £300.
Volkswagen Campervan Owners Also Benefit
The study also looked at a 1976 Volkswagen T2 Campervan. For this vehicle, the average classic car insurance quote was £182, while a standard policy averaged £432. This represents a saving of £250 per year. The data highlights the potential for significant cost reductions for owners of classic VW models who switch to specialist insurance.
Criteria for Classic Car Insurance
To qualify for classic car insurance, vehicles usually need to be over a certain age – often 15 to 20 years old – and be kept in good condition. Many policies also require the car to be used for limited mileage, typically under 5,000 miles per year, and not be used for daily commuting. Some insurers also require the vehicle to be stored in a secure garage.
Greg Wilson, founder of Quotezone, said: “Classic car insurance can be a great way for owners of older vehicles to save money on their premiums, as long as they meet the criteria. It’s important to shop around and compare quotes to find the best deal.”
Additional Benefits of Specialist Cover
Beyond lower premiums, classic car insurance often includes benefits tailored to vintage vehicle owners. These can include agreed value cover, where the insurer and policyholder agree on the car’s value upfront, avoiding disputes in the event of a total loss. Some policies also offer lower or no excess, breakdown cover tailored to classic cars, and the ability to use specialist repairers.
However, drivers should be aware that classic car policies may not be suitable for every older vehicle. If the car is used as a daily driver or for business purposes, a standard policy might be more appropriate. It’s essential to read the terms and conditions carefully.
How to Find the Best Deal
Quotezone recommends that classic car owners compare quotes from multiple specialist insurers to ensure they are getting the best cover at the right price. Factors that can affect premiums include the car’s value, age, condition, mileage, and where it is stored. Drivers should also consider any additional features they may need, such as European cover or track day insurance.
The savings highlighted in the study are based on average quotes and may vary depending on individual circumstances. Nevertheless, the potential for hundreds of pounds in savings makes it worthwhile for classic VW owners to explore their options.
