Walker Jack Consultants

If you own a classic or vintage vehicle you should always ensure that your car insurance policy is suitable.  Very often, you will save money on insurance premiums by taking out a specially tailored insurance policy for this type of vehicle.  These policies also offer valuable extras, which are unavailable on standard car insurance agreements.

All car insurance providers take a number of factors into account before deciding to offer cover.  These factors include age, occupation and even gender.  Two additional factors, which are particularly relevant to classic car insurance, are expected annual mileage and storage.  In the case of classic cars there is usually a limit to the annual mileage.  This is because such vehicles are used mainly for recreational purposes and for attending special events, such as vintage car rallies.  It is often the case that a special mileage discount can be applied to the insurance premium, which reduces the cost significantly.  In relation to storage, insurance providers offer generous discounts when a vehicle is stored in a garage, which is the norm in the case of classic and vintage vehicles.

Finally, when taking out a classic car insurance policy it is important to ensure that the value of the car is agreed between the policyholder and the insurance provider.  This will avoid any disputes if something does happen to the car and a claim of any kind has to be made.  It is usual for the insurance company to offer a free valuation in these circumstances.

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For many people, one of the most important considerations when purchasing a car is insurance.  It is a legal requirement in the UK to have at least Third Party cover.  While the cost of insuring your vehicle can be high, it has never been easier to ensure that you get the best deal for your particular circumstances.  This is because of the rise in websites offering quick insurance quotes online and the increasing popularity of price comparison websites.  It is advisable to make full use of these resources when looking for car insurance.

When purchasing a policy, always check that you are not paying for options that are not applicable to you or your vehicle.  For example, if your vehicle is not worth a great deal there is little point in paying to insure high specification equipment.  Very often it is necessary to opt out of this type of add on, as it may be a standard clause in the contract you are entering into with the insurance company.

If you have somewhere safe to store your vehicle, such as a garage, when it is not being used, make sure you let the insurance company know, as this will very often reduce the price of your premium.

Finally, the importance of thoroughly researching the market and using the various price comparison websites to ensure you find the most cost effective policy cannot be underestimated.  It no longer makes economic sense to simply continue to renew your existing policy year after year. 

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When trying to find suitable vehicle insurance, it is necessary to remember both that a minimum level of insurance is required by law and also that the cost of the insurance is going to rise, sometimes quite significantly, depending on a number of issues pertaining to the level of cover, the type of vehicle being insured and perhaps most significantly, the driver’s age and experience.

It is be possible to purchase the very basic form of third party insurance, which is required by law.  While this is the cheapest type of insurance cover available, it only provides the minimum of financial protection to the vehicle owner.  In most cases the cover provided by this level of policy will be extended, so that it also includes fire and theft, making a package known as third party, fire and theft.  This is a very popular level of insurance for the driver on a strict budget.

At the more costly end of the scale, insurance companies offer various levels of comprehensive vehicle insurance, covering a wide range of possible incidents that might result in the need to repair or replace your vehicle, regardless of who was to blame for the damage or to compensate another road user for damage or loss. 

It is worth checking with individual insurance companies, perhaps by visiting one of the many insurance comparison websites, to discover what packages they can offer that meet your specific requirements.  After all, there is no point in paying for cover that you may not actually need.

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Paying More for Your Car Insurance
Insuring your car as a young driver is more costly than for other drivers.  The age range for young drivers is up to 25 years.  This puts young drivers in the same group as over 70s, who also have to pay more based on their age.  This is because it has been statistically proven over the years that the under 25s and the over 70s are the riskiest drivers on the road.

How to Keep Your Car Insurance Costs Low
Nonetheless, there are some ways in which you can minimise the costs of insuring your car if you are under 25 years of age.  A sure way of lifting the premiums is by driving a sporty or high-powered car or a car that has been modified for speed and road holding.  Thus, a great way of keeping insurance costs low is to avoid these and to drive a regular car.

Shopping Around for the Best Insurance Deals
Further, you can shop around for a good young person’s insurance deal.  Some insurers look specifically at your age and the type of car you are insuring to decide the premium you have to pay.  Others, however, consider your professional status and age, so it is worth checking several insurers before deciding on one.

You can also decide to insure yourself in addition to the risk of an accident and damage to your own car and another.

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