Classic Car Insurance in the UK - Industry Market Research Report

Full speed ahead: Solid demand for expensive historic cars and classic cars for investment purposes is lifting revenue

The Classic Car Insurance industry generates revenue from two main sources: premium income and investment income. There are many classic car insurance policies, including comprehensive cover, laid-up cover, and third-party, fire and theft cover, with the comprehensive cover being the most prevalent form. The level of risk and the premium prices vary considerably, depending on the type of policy. Industry participants underwrite (i. e. assume the risk for and assign premiums to) classic car insurance policies. According to HM Revenue and Customs, any car that is over 15 years old and has a market value of at least £15,000 is a classic car, but insurers can vary in their definition. The level of risk assumed and the cost of an insurance premium vary according to the type of insurance policy being underwritten. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.