What is the average price of classic car insurance?
While many people assume that insuring a classic vehicle will be costly, classic car owners often find that insuring their favourite vehicles is actually very reasonable.
We took a detailed look at classic car insurance prices in our recent Heritage Classic Car Report of 2025, finding the average annual premium for classic car insurance stands at £123.
Where your quote lands in relation to this average will of course depend on several factors, including the vehicle’s make, model and age, as well as your profile as a driver.
Which factors influence classic car insurance prices?
Several factors come into play when insurers calculate classic car insurance premiums. Everything from the make and model to the driver’s age – and how the vehicle is used – can affect the price. Here’s a closer look at what shapes classic car insurance pricing.
Vehicle make and model
The make of your classic car can significantly impact insurance costs. Some classics are simply more expensive to insure than others due to differences in value, and the availability of parts associated with each model. The desirability of a classic car also plays a role. High-value and rare models tend to attract higher premiums because they can be more costly to replace if stolen or damaged.
For instance, our report found that Jaguar owners pay an average premium of £186, while Triumph owners experience much lower premiums, averaging £86. To contextualise this, the average value of a Jaguar insured is £36,000, while the average value of a Triumph is £14,000.
Driver age
Age plays a key role in determining classic car insurance premiums, with younger drivers often facing higher costs.
Our data shows that drivers born in the 1990s face higher premiums – averaging £215 annually – compared to older drivers who typically see much lower rates. Those born in the 1950s pay some of the lowest premiums, reflecting their lower risk profile. Experienced drivers are seen by insurers to drive more cautiously and have fewer accidents.
Vehicle age and usage
The era in which a vehicle was built can influence premium prices, often due to differences in how frequently they’re driven, their reliability and parts availability.
Interestingly, vehicles over a century old have the lowest premiums, averaging £69. This is because they’re often meticulously maintained and driven sparingly, reducing the likelihood of claims. While ‘modern classics’ from the 2000s see higher much premiums, averaging around £249. These cars may still be used more regularly and often have features that blur the line between classic and ‘modern classic’ vehicles, making them more expensive to insure.
Your postcode
Where you live plays also plays a role in determining your classic car insurance price. Insurers assess postcode data to understand the likelihood of theft, vandalism and accident claims in a given area.
If you live in a city or an area with a high rate of vehicle crime, your premium is likely to be higher to reflect the increased risk. Classic car owners in urban areas, particularly London, often pay significantly more compared to those in rural or suburban locations where theft and accident rates are lower.
Additionally, where you store your classic car matters. If your car is parked on the street overnight, insurers may charge a higher premium due to the increased exposure to potential incidents.
Tips to reduce classic car insurance costs
Here are some practical ways to keep your classic car insurance premiums down without cutting corners on protection:
1. Join a car club
At Heritage, we offer a 15% discount of for being a member of a recognised classic car club. Insurers see club members as responsible enthusiasts who take good care of their vehicles, meaning they’re often rewarded with discounts.
2. Secure storage
Where you keep your classic car when it’s not in use plays a big role in how much you’ll pay for insurance. Keeping your classic car in a locked garage or secure facility can often lower premiums in some cases as it reduces theft and damage risks.
3. Low mileage
The lower your annual mileage, the more likely you are to receive a discount, which is ideal for those who only drive their classic vehicle occasionally. Many insurers offer policies tailored for limited use, as lower mileage means a reduced risk of accidents.
Classic car insurance prices: FAQs
Yes, modifications can impact premiums. While some modifications have no impact on costs, significant performance enhancements or cosmetic changes could increase premiums. Always inform your insurer about any modifications.
While it’s possible, young drivers, especially those under 25, face much higher premiums due to perceived risk. Many insurers may have age restrictions or require additional conditions.
Yes, many insurers offer laid up insurance policies that cover vehicles not currently on the road, protecting against risks like theft, fire, and accidental damage during the restoration process.
Classic car insurance is often cheaper because these vehicles are typically driven less frequently, kept in secure storage, and well-maintained by their owners. Insurers recognise the lower risk associated with these factors, leading to reduced premiums.
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