What to look out for when taking out old-timer insurance?
Taking out old-timer insurance differs in certain aspects from taking out regular car insurance. We would like to explain to you what you should pay attention to when choosing the right insurance for your precious old-timer.
Old-timer insurance is cheap compared to insuring a modern car. This is not because old-timers are safer. There is another reason behind it. The owners are often more careful with their valuable possessions, but the big difference is made by how the car is used. Old-timers are often not used for daily traffic, but recreationally. Often, you can only drive a few thousand kilometres per year in an old-timer. Do you drive more? Then you should choose a regular motor insurance.
How many kilometres do you drive per year with the old-timer?
Old-timer insurance is not suitable for a car you drive to work every day. Insurers often set a maximum amount of kilometres you can drive per year with your old-timer. The maximum varies per insurer. There may be a maximum of 5,000 kilometres per year, but 7,500 kilometres is also possible. Do you drive more or do you use the old-timer for daily use? Then you can choose for the regular car insurance instead of the old-timer insurance.
When can you opt for old-timer insurance?
If, for example, a car is not considered an old-timer according to the tax authorities, it may be so for the insurance company. There are different criteria for this. They also differ per insurer. An insurer can state that the car has to be at least 20 or 25 years old. Another criterion is whether or not a car is still in production. In that case, only a vehicle that is no longer in production and meets additional requirements is a classic car. Insurers can even demand the existence of special clubs for the brand and type of oldtimer insurance.
Properly insure a vintage car with a high value
You can choose the cheapest form of insurance, but if your old-timer has a high value, this is not wise. The cheapest oldtimer insurance will only pay for damage caused by the oldtimer to the other party. For the insurance forms WA limited casco and WA casco an appraisal is necessary to determine the value of the oldtimer. This also prevents a discussion about the amount of the value in the event of damage.
Do not forget your claim-free years
Have you terminated a motor insurance policy in the past few years? Check whether damage-free years have been built up in this policy. You can use these years again for the old-timer insurance. You are entitled to a high discount which can give you a considerable saving on the premium.
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