I want to insure my three classic cars...
Hi,
I want to insure my three classic cars: a 1989 Mercedes-Benz 190e 2.0-litre petrol, a 1994 BMW 520 2.0-litre petrol and a 1996 Peugeot 306 XAD van, a 1.9 diesel. Can you tell me the best insurance company to try (not a broker) and also if you could give me a value on the three cars?
Regards
Thomas
Thomas Ryan (Dublin 12)Mar 2016 Filed under: insurance
Expert answer
Hi Thomas,
Well, for a start, you're not going to be able to insure any of the three as classics, as none has passed the 30-year mark yet. If your intention is to use them for 'classic-style' driving (only bringing them out for events or days out etc.) then you might be able to get a limited mileage policy that will reduce your costs a bit.
The next problem is that Irish insurers are conducting something of a war against cars of that sort of age – they reckon that older cars are at higher risk of claims so the premiums are being loaded out of all proportion. Most of the major insurers will do a multi-car policy, but with their ages I think you might struggle to find an affordable quote.
As for value, if they're all in exceptional condition then I'd say the Mercedes and BMW could be worth as much as €5-7,000 each (they really would have to be exceptional though) and the Peugeot van probably about €3,000 (again – if in exceptional condition).
@neilmbriscoe