Insuring a vintage car

Like modern cars, old cars must be registered and insured. At what age is a car considered collectible? We explain to you the steps and formalities to be carried out to insure a vehicle over thirty years old.

What is a collectible car?

To be admitted as a collector’s car, it must have at least thirty years. But beyond considerations of age, a luxury car can be qualified as a collector’s car. Criteria such as rarity, model, brand or vehicle history come into play. Some insurance companies offer specific guarantees for vehicles sold in few copies. Indeed, their value goes far beyond that of classic cars.

The technical control of vintage cars over thirty years old is postponed to five years. They also have a specific gray card (or registration certificate).

On the other hand, vintage vehicles less than thirty years old are subject to the same regulations as other cars. The technical control must be carried out every two years.

Collector Car Insurance, conditions

To be able to take out specific insurance for classic cars, certain conditions must be met:

  • Be over twenty-one years old;
  • have held a driving license for at least three years;
  • no traffic accident for at least two years;
  • be in possession of another vehicle for daily journeys, excluding a collector’s car.

The insurer can also claim the gray card to be certain that it is an old car. In some cases, an expert will be commissioned to establish the specific character of the vehicle.

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Where to insure a collector’s vehicle?

That’s it, a classic car sits in the garage. But like any other car, it needs to be insured. Where to insure a collector’s vehicle?

By definition and with most insurers, a classic car is a vehicle that is at least 20 years old (30 for some insurers) and has a specific registration certificate or a luxury car if it is rare and its value exceeds that of a conventional car. Even if it is used occasionally, a classic car must be insured. Otherwise, the owner incurs a fine of €3,750, the confiscation of the vehicle and a license suspension. And in the event of a responsible accident, it is the owner who will have to compensate the victims.

There are good specialized insurers on the internet that offer specific contracts. Several conditions are necessary to take out insurance for a collector’s vehicle. Generally the owner of the vehicle must be of a minimum age (21, 25 or 30 years old), have obtained his driving license more than 3 years ago, not have had any responsible accidents for at least 2 years and have another vehicle for daily trips.

The rates charged by insurers are often attractive since a classic vehicle presents less risk than a modern car: the owner drives his vehicle less often and less quickly and above all, he takes care of it and drives carefully. On the other hand, it is not compulsory to subscribe to a specific insurance.

Collector’s Vehicle, why do you have to insure it?

Remember that insurance is a requirement for all motor vehicles. If you don’t have auto insurance, you risk a fine and license suspension. You must insure your classic car.

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By opting for collector’s car insurance, you will benefit from suitable offers with competitive prices. Indeed, the risk of damage is lower than with an ordinary car. Therefore, the insurance premium is lower than with an ordinary vehicle.

Note, in the event of a claim, the reimbursement of the car is made according to the official collection rating. This is higher than that of the Argus.

Classic car, third-party or all-risk insurance

Know that you have no obligation to take out a specific insurance contract for your classic car. It is quite possible to insure it to the third party. This is a warranty suitable for cars with little use. On the other hand, taking out this type of insurance for your collector’s vehicle can involve risks. Indeed, this guarantee is not the most appropriate for valuable cars. In the event of an accident, you will not be covered.

Prefer all-risk insurance, which is more complete. In any case, give particular importance to franchises. In the event of a claim, this is higher for collector cars.

Collector Car Insurance, advantages and disadvantages

Some insurance companies offer a circuit guarantee. The insured can use his old vehicle on a racing circuit or during sporting events.

To pay less, find out from the different companies. Some of them offer discounts for people who are part of a classic car club.

On the other hand, it must be understood that collection insurance is not made for driving your car every day. Business trips are excluded. Insurers sometimes limit the number of trips to one per month. If you do not want to leave your classic car in the garage, prefer another insurance.

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Finally, there are brands that are excluded from contracts. These are sports cars. Depending on the power of your vehicle, some insurance companies will close their doors to you.

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