Classics owners who clock up less miles could save on insurance

Research shows that the majority of classic vehicle owners clock up less than 1500 miles a year and could be saving on the cost of their insurance policy.
 
According to a survey by specialist insurance broker Footman James, a staggering 93 per cent of those surveyed stated that they drive less than 4500 miles a year, with 55 per cent of these driving less than 1500 miles in a 12-month period.
 
The survey also revealed that there was a 7 per cent increase in the number of classics owners driving less than 1500 miles a year, in comparison to the previous 12 month period.
 
The survey, of nearly 5,500 classic vehicle owners, was conducted via a database web survey and also at the NEC’s Classic Motor Show.
 
Garry Carlin, Footman James’ sales director, said: “Many enthusiasts tend to only drive their classics periodically throughout the year, and therefore may be able to benefit from our specially designed limited mileage policies. These usually come in different bands, such as under 1,500, 3,000 and 4,500 miles per year, as statistically the fewer miles you drive the less at risk you are of having an accident.
 
“Furthermore, depending on the age of the car, some enthusiasts may automatically qualify for unlimited mileage, which is usually charged at the same premium as the 3,000-mile option.”