Classic cars - enthusiats consider them to be a work of art, especially if they own one. They are a labour of love though, and having one takes up most of your spare time and cash! Reducing costs on your classic car can be a headache, so keeping insurance premiums low can help enormously.
Moore4Motors have come up with their top 5 tips for reducing your premiums:
1. Do your homework
It’s probably the first thing you think about when it comes to looking for new insurance before your renewal is due. By shopping around, you could save big time, so don’t accept the first quote you’re given.
2. Over valuing
Classic cars do tend to hold their value, but it would be a major gaffe if you were to over value your pride and joy as this would have an effect in the increasing premuim. Insurance companies would merely pay out the market value of the vehicle in the event of a theft or write-off and not what you consider to be its worth.
3. Squeaky clean licence
Penalty points don’t make prizes! A licence that is free from points could prove its weight in gold when it’s time to apply for quotes.
4. Reduce your mileage
I know, it’s sacralige, but reducing mileage could be reflected in a reduction in premiums. Less time on the road equates to less risk!
5. Your Excess
By offering to pay a higher excess, a classic car owner should expect a noteworthy reduction in insurance premiums.
Our top tips at first glance may not seem to offer significant savings on your car insurance, nevertheless when they are all taken into account, they could make a difference.
Moore4Motors supply classic car and kitcar parts, we also offer restorations services - take a look at some of our latest projects. Call in for a chat or contact us if you’d like more information on restoring classic cars.Back To Blog