Unfortunately, the cost of insuring a car has, on average, got more expensive in the 4th quarter of last year in comparison to the previous quarter according to the price comparison website Confused.co. Its car insurance price index reveals that the average amount paid for such cover went up by an average of £25 per annum from an average of £514 per annum to an average of £539 per annum.

If premiums have also risen for classic car insurance policies then a lot of vintage car owners could find themselves with having to bear the financial burden of also finding their insurance covering their family saloon cars has risen. At a time of high fuel costs this would be something that motorists could do without.

It is going to be interesting to see what happens to such premiums throughout the rest of this year and beyond. The pandemic no doubt played a part in helping reduce premiums in the last year or so but with more cars now back on the roads here in the UK we will probably see more road traffic accidents and a rise in the number of claims insurers have to deal with which could result in higher premiums.

It continues to be younger drivers who pay more for their cover than the more mature motorist. For instance, a 69 year old pays an average of £310 per annum, a 28 year old pays an average of £792 per annum and a 21 year old pays an average of £1,189 per annum. The reason for this variance is because the young driver is more likely to be involved in a road traffic accident than the older motorist.

Where you live has an effect on your premium with the most expensive region being Inner London where the average premium was £843 per annum. This is no doubt because it is a congested area as far as motor vehicles are concerned.

If you are looking for a competitive quote for your classic car insurance why not get in touch with us at your earliest convenience.