Own a Timeless Vintage Car? Here’s How You Can Avail Car Insurance


Loud revving engines, unbelievable power figures, aerodynamic body, etc. are some noteworthy features of modern-day cars. But the true golden era for auto enthusiasts was when all these changes were first-time-ever. These cars today are called vintage cars. 

Vintage cars are often compared to a wine’s ageing process. Since their value increases by each passing year, they are valued more for their rarity. There are a handful of cars in the country for which experts estimate around 3,000. Thus, it is crucial to avail motor insurance to keep them up and running. 

Classification criteria for vintage cars

Not all old cars are classified as vintage cars. For a car to be classified as vintage, it needs to be certified by the Vintage and Classic Car Club of India (VCCI). Let us look at the different classification for old cars. 

Classic Cars: Any car that is manufactured between the 1940s to 1970s is termed as a classic car. Additionally, these vehicles should not be modified and their condition must be as close to the original one which was manufactured. 

Antique Cars: Cars manufactured between the 1930s to 1940s are called antique cars. Similar to classic cars, antique cars must be in their original condition with no to low modification. Since these cars date back to around 90 years, it is essential to insure your vehicle using via quick & simple car insurance online purchaseor the offline method.

Vintage Cars: These cars are those where the roots of modern-age performance parts date back to. Generally, cars that are manufactured from 1919 to 1930 are classified as vintage. One thing to note is the valuation for these cars does not change much despite the modification since they are extremely rare and being live is enough to preserve a piece of history. 

What are the factors that influence the premium for your vintage car?

#1 Age of the Vintage Car

The first and foremost factor that impacts the premium is the age of the car. Unlike third party car insurance, the premiums aren’t pre-defined. The premium increases as the car get older. Since the spares are available in scarcity, the price of repairing them increases. 

#2 Current Value of your Vintage Car

A vintage car’s premium is determined by a professional valuer. Some insurance companies accept the valuation provided by the VCCI too. If vintage cars are valued like ordinary cars using IDV, it will not provide its true value to the owner.  

#3 Expected Cost of Repairs

After the age of the car, the next significant factor is the expected cost of repair. The repairs to these engineering marvels require skilled professional which are hard to find. Moreover, the replacement cost of spares is sky-high owing to its scarcity. Considering these factors, the expected cost of repairs increases thereby increasing the premium.

Before availing for the car loan, you can also check for Car Affordability Calculator

#4 Kilometres Driven

Lastly, vintage cars are required to be driven for their spares to function smoothly. Thus the insurance company also checks the kilometres driven at each renewal date. The higher kilometres clocked, the higher will be the required upkeep. 

Now that you know about vintage, antique and classic cars, make a suitable choice of insurer understanding its importance and how the premiums are based.