Those of you who are keen on classic cars may be interested in some statistics relating to classic car insurance in the UK produced by Uswitch. You can find full details on their website but we provide some highlights of the data below.

In 2022 this particular sector of the insurance market was worth in excess of £712 million and it is being forecast that this figure will increase slightly in 2023.

It will probably not come as a surprise to read that, just as with standard car insurance, it is the young motorist who pays more on average for their classic car insurance. Those motorists in the 17 to 20 years of age group pay an average of £7,633 per annum. Those aged 26 to 30 pay an average of £1,072 per annum. The age group paying the lowest premium is in the 66 to 70 age bracket with premiums averaging £206 per annum. The average amount paid for classic car insurance in the UK this year is £401 per annum.

Classic car owners living in London pay, on average, more for their cover than anywhere else in the UK. If you happen to reside in the South West of the country then you will, on average, pay the lowest premium to insure your cherished vehicle.

It is estimated that the manufacturer with the highest value of classic cars in the UK is Porsche with a value of almost £1.2 billion. In the UK, there are estimated to be almost 44,00 classic Porsches.

It is interesting to note that it is estimated that there are more classic cars in the West Midlands than in any other region in the UK. That region has a share of 9.6%. In second place is Yorkshire with a share of 8.2%. In third place is Lancashire with a share of 5.6%.

We hope that you found the above statistics to be of interest.

If you are looking for a competitive classic car insurance quotation then why not get in touch with us at your earliest convenience as we have an extensive panel of specialist insurers at our disposal.