Classic car insurance

Are old cars expensive with insurance? Not necessarily if it’s a classic car. VW Beetle, Porsche 911, or BMW Isetta: If you have such a darling in the garage, you can benefit from particularly low tariffs in motor vehicle liability, partial and fully comprehensive insurance. There are special policies from well-known insurance companies and specialist providers for classic cars.

What does classic car insurance cost?

With many providers, the prerequisite for classic car insurance is that you use the car privately, but not as an everyday vehicle. In addition, the car must be true to the original and in good condition. An H license plate with the corresponding tax relief, on the other hand, is not necessary for a classic car tariff. For most insurers, it is enough if the car is at least 25 years old. For some, 20 years is enough.

Classic car insurance is cheaper than normal car insurance because insurers assume that classic car fans are particularly careful with their cars and only drive them on special occasions. This reduces the risk of an accident for the provider. Accordingly, most tariffs are also limited to an annual mileage of 6,000 to 9,000 kilometers.

The contributions to motor vehicle liability are calculated differently depending on the provider. Either the insurance sets this flat rate, sometimes depending on the value of the car, the age, or the horsepower. Sometimes the premium is calculated in a similar way to normal car insurance. The age of the driver, parking space, and mileage is also included in the price.

On average, motor vehicle liability insurance costs between 40 and 110 euros per year, depending on the age of the vehicle. The contributions to full and partially comprehensive cover depend more on the market or restoration value. Depending on the insurer, an additional 30 to 70 euros per year is due.

This table in the specialist magazine “Oldtimer Markt” provides a good overview of providers and prices. The policies are to be taken out directly with the desired insurer. This is not possible on online comparison portals such as Check24 or Verivox.

Insurance classes do not matter
Unlike classic car insurance does not play type and regional classes still claim classes a role in the calculation of the contribution. You will also not be upgraded to the no-claims class (SF class) after an accident with your classic car. The contributions remain constant even after damage.

What should you watch out for?

Choose a tariff for which your classic car meets the requirements. Some policies require the driver of the car to be at least 23 years old. And the car should be in a garage to prevent weather damage. Certain providers also require a professional appraisal before signing the contract, in which the true to the original and good condition of the classic car is certified.

In principle, such an opinion is useful. Because if there is an accident, you can refer to it if the opposing insurance company causes problems in settling claims.

If you have had insurance for a long time, you should look at the contract again. On the one hand, new tariffs are often cheaper and at the same time offer more performance. On the other hand, the classic car may be underinsured after a few years. If the car has grown significantly in value in recent years, the contract may no longer cover this. Many tariffs automatically insure an increase in the value of 10 percent – but your car may have already exceeded this limit.

Season license plates also save money
If you only drive your classic car in the summer months anyway, you can register it as a seasonal vehicle. Then you only pay the insurance premiums for the time you use the car. The de-registration and re-registration are already done with the admission.