If you own a classic car then you will be well aware of the costs involved in maintaining its beauty, with vintage cars demanding attention all year round. Being viewed as a precious collectors item it is essential that you give your classic car the attention it deserves, going above and beyond to secure its safety where possible. How do you define ‘classic’? There is no standard insurance definition of a ‘classic car’, with the term meaning different things for different insurance companies. Some insurers say that 10-year-old cars are classic while others insist that the car must be at least 20 years old to pass as a classic motor. Wanting to get some clarity on this we at Lady Motor approached High Gear insurance, UK brokerage specialising in private car insurance. ‘Working with a number of insurance providers we have found that each company has their own definition of classic, therefore we partner customers with providers that best suit their demands. With classic car insurance being very specialist we tend to spend more time on such policies than any other vehicle type’. Is classic car insurance cheaper than traditional coverage? The price of coverage is totally dependant on the car itself, as well as the purposes and frequency in which it is driven. Traditionally classic car policies are cheaper than for your average family hatchback, arguably due to the fact that classic vehicles are driven less. Imran of High Gear says: ‘Vintage cars are usually driven just a few times a year, being kept in locked, secure garages for the majority of the year. For this reason they pose are far less of a threat, encouraging competitive rates for cover’. Market value Many people invest in classic cars, with vehicles such a vintage Mercedes, Rolls Royce’s and Morris Minors maturing with age. For this reason the market value given by the insurance company is of great importance, with owners wanting to safeguard their purchase. So, if you would like to learn more about the various classic car packages on offer we suggest going to a broker, helping you gain more of an insight into how the industry works.