Almost certainly, if you own a classic car, you will also possess a family car that is your every-day runaround. If this is the case, you will have to insure both vehicles that is an expense you could do without but you have no choice as it is a legal requirement to insure a car unless it is declared SORN (Statutory Off Road Notification) and is not on the public road system.
In the current pandemic, a lot of people are struggling to pay their bills so anything that can be done to lower their expenditure has got to be welcomed. Well, you may be interested to read that, according to the Association of British Insurers (ABI), the average cost being paid by motorists here in the UK for fully comprehensive motor insurance has fallen.
In the second quarter of 2020, the ABI Motor Insurance Premium Tracker shows that the average cost of such cover has dropped by £14 per annum to £460 per annum when compared with the first quarter of 2020 when the figure was an average of £446 per annum. This equates to a fall of 3%. This is the lowest figure seen since back in the third quarter of 2016.
Whilst there is no guarantee that the cost of classic car insurance has fallen, you may wish to shop around to see if you can get a better deal when your existing cover is coming up for renewal. Not enough people do this and that is a shame as they may have been able to save some money had they done so. It doesn’t take long to get a competitive quote so why not get in touch with us today in this respect. We have been able to assist a lot of classic car owners over the years make a saving on insuring their cherished vehicles. We look forward to hearing from you.
