For those of us that are fortunate enough to own a classic car obtaining car insurance may prove to be a little bit tricky. No longer having its credentials and particulars on the tips of everyone’s tongue, makes establishing a car’s roadworthy nature can prove to be increasingly difficult.

Insurers have to ponder over whether in restoring it or maintaining its integrity you have somehow compromised its safety thus increasing the likelihood of an accident and then a claim. Obviously insurance companies would rather not pay out and so before deciding to offer you a policy they need to calculate what the probabilities that your dated vehicle will cause an accident are. In addition they also need to determine whether in the event of an accident, what the likelihood of your car needing care will be and at what cost?

Before deciding to go down the path of sourcing classic car insurance you need to make sure of a few things. First of all, what is a classic car? A classic car is one that was manufactured at least 15 years ago as a standard model, part of an established fleet, even if it was part of a limited edition selection. For some makes it needs to have been made at least 20 years ago, Porsche is one of those companies that stipulate the model being made an extra few years earlier before being gifted with the graceful title of ‘classic’. A classic car also needs to have an annual mileage of under 7,500 miles, some companies will offer a further discount if you keep your annual mileage considerably lower. As well as this, the classic car needs to be used as a second car, a hobby if you will.

When determining the cars value, the company’s mind is not fixed, rather policies are offered on an ‘agreed value basis’. Namely an amount is agreed upon between you and the company, one that is realistic based on the car’s credentials. Companies usually offer a number of policies with varying levels of cover, most will stipulate the age of the insurer be over 35. The cover offered by most insurers is for social, domestic and pleasure-use by all the drivers on the policy. Using the vehicle for racing or any track-style event is not covered but competitions, rallies and trials will be.

So even if you have taken tender time restoring your classic sports car to its original glory and have polished her up to a high shine, if you then go and use her for her original intentions-fast driving, then the chances of a collision is massively increased as is the chances of you making a claim. It is for this reason that most companies will refrain from offering cover on such vehicles and if one doesn't declare that their car will be used for such activities and an accident does occur as a result of such, the whole policy will be rendered null and void, in essence you will have wasted money by lying to try and save it!

RAC offers two types of cover for classic cars; ‘comprehensive’ and ‘laid up’. Comprehensive cover where available will come to an agreed value of the vehicle as well as a free valuation service if you are finding it difficult to come to an agreed value or simply want a second opinion. Accidental damage, fire and theft is also included as standard. They also extend their cover to offer third party liability cover which includes passengers. The cover impressively includes personal accident benefits for both you and your spouse as well as medical expenses. On the other hand, laid up cover only covers you for accidental damage, fire and theft; cover at this level is more for the renovating connoisseur.