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Classic Car Policy For 21 Year Old


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#1 7builder

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Posted 24 August 2020 - 04:28 PM

My Son has spent the afternoon calling all of the insurance companies recommended on this forum to get a quote to insure his 35 year old Mini Piccadilly on a classic car policy. He is 21 and has 4 years NCB being used on a very heavily modified Seat Ibiza FR that he has insured with Admiral for £691 fully comp. He almost fell out of his tree when the first quote from Footman James came back at £897 for a 3000 mile classic policy so politely declined. He next called Adrian Flux and when he mentioned the price quoted by FJ the guy on the phone that was a good price and they wouldn't be able to better it. In the end he has added it to his existing Admiral policy for an additional £27/month.

Am I missing something as I was expecting a limited mileage classic car policy on a little 998 mini would have come in significantly cheaper that anything he was able to find even if he is only 21 years old and his NCB is assigned to his daily drive?



#2 CK's mini

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Posted 24 August 2020 - 05:49 PM

I believe a lot of insurance companies wont insure anyone under the age of 25 on a classic policy, so this could have restricted the number of companies they can use.

 

NCB doesn't normally effect a classic policy and also you don't build up any NCB with a classic policy. 

 

Adding it to his current policy seems to have worked out quite well so maybe try again when he's turned 25.



#3 7builder

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Posted 24 August 2020 - 07:38 PM

I think you are right about the age, that's all I can think it could be. He had a massive decrease in insurance cost when he turned 21 on his daily drive and I thoughtt it would be the same for his classic policy but we got that one wrong 



#4 Twincam

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Posted 25 August 2020 - 04:48 AM

Also take note that the Mini will be worth (on his currently policy) market value, with a classic car policy you could get an agreed value which might be significantly higher.

Lancaster was one that popped up when I used to run Escorts - Peter James I've also used in the past.

#5 7builder

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Posted 25 August 2020 - 03:39 PM

Also take note that the Mini will be worth (on his currently policy) market value, with a classic car policy you could get an agreed value which might be significantly higher.

Lancaster was one that popped up when I used to run Escorts - Peter James I've also used in the past.

Yeah, the value is going to be an issue in the event of a claim unfortunately but as an apprentice making wing spars for Airbus  aircraft his future employment prospects are looking grim so he couldn't afford or justify nearly £900 to insure his Mini.



#6 Homersimpson

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Posted 25 August 2020 - 03:56 PM

Insurance has always been difficult for the young as a small (or perhaps not so small) number spoil it for the rest of them by driving like tools.

 

When I was 20 (2001) I rebuilt a 1962 Austin Healey Sprite and couldn't find anyone to insure it for me at all until I was 21.  Fortunatly it was only a month or so to wait and then I could get insurance from any one of a number of people.

 

The other thing to try is put yourself on the policy as a named driver (not the main driver as thats fronting and against the terms of the policy) and it may reduce it.

 

I used to be on my brothers insurance as a named driver when he started driving and it made a diffference even thought I only used to drive it occassionally for repair and to take it to and from its MOT for him.






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