Hi everyone, (re- newish member), I am looking for a mx5 (obviously), not sure whether to look for a older car for cheaper insurance or just go with a newer car, How many years old to qualify for classic insurance?, the car not me, will it be a big difference, taking into account I’m a older driver (68) with full no claims discount no convictions ( ok if been lucky!) , thoughts please, Steve p.s. sorry if this has been covered before
I was told by one company recently it’s 15 yrs old for classic cover. TBH I would just get a few quotes from the mainstream insurers but do give some of these classic insurers a go to compare.
If it’s a starter second car then sometimes the loads of NCD will not count on that car, obviously it would if you intend on having replacing you current car with an MX-5.
You should be able to find relatively low price cover given you driving record, age etc on most models all of course dependant on postcodes and where the vehicle is kept in my experience.
The general start point with classic car insurance is 15 year old (car, not driver ).
It’s usually aimed at a second car with a limited mileage. Some insurers will ask the details of your main car to prove the classic isn’t used as your everyday car.
If you go for an agreed valuation make sure you get the valuation within 14 days of the policy starting, one insurer I was with dropped the valuation after renewing with them. I had to either accept the reduced valuation or provide an engineers report. I told the to get stuffed but as they’d dragged it over the 14 day cooling off period I was over £100 out of pocket.
It seems to depend on the insurance company. Quite a number do not offer classic policies.
If you go through a broker or one of the insurers who actually act as a broker they will usually give you that option.
Classic insurance is generally available for MK1 and MK2 and I believe you should get it for most MK2.5 cars.
Beware loss of no claims though. Some classic policies ignore no claims so yours will lapse after 2 years on such a policy.
I was very suprised when i bought my 2.0 NC, I’m early 60’s and my 2nd car ncd lapsed as was about 5 years since we had a second car but got full ncd on our daily car. Did a Compare the Market type search and with a low excess and courtesy car etc and zero ncb but limited mileage of 3000 it came in at about £160. Was fearing the renewal price as they seem to give you an introductory ncb but was only £7 more.
^^^ Yes some do “mirror” as they call it your other cars NCD. Although I’d accrued around 5 yrs NCD on my previous MX-5’s Admiral for what it was worth upped it to match my daily driver’s discount.
Thanks everyone, Erm!! yes i think i will let the wife have the first car as her car with me has a named driver [we drive this about the same over the year] and use the no claims on my mx5 when i can find one that i like , price , condition etc, thanks again. Steve
Only thing to watch is if your wife has been the named driver on your policy and she starts a new policy with you as the named driver she will have zero NCD. It’s only the policy holder who builds up a NCD.