The policy conditions of the vintage car insurance policy.

What is the excess in classic car insurance?

The excess is a part of the damage that you have to pay for yourself. Not all insurance companies use an excess. If they do, it is often an amount up to €150. In case of a damage of €1.000 you will receive €850 based on a deductible of €150. Insurers apply an excess to discourage policyholders from claiming damages.

A higher excess for young drivers

Young drivers often pay a higher premium until they are 24 years old. Insurers do this because they cause more damage compared to older drivers. For some insurers, this is not enough. They also impose an additional excess in the policy conditions in case of damage caused by young drivers. Not all insurers do this.

Excess for windscreen damage

A different excess applies to damage to windshields. If replacement of the glass is not necessary, there is often no excess. The insurer may refer you to a specific glass repairer in your area. When replacing the windscreen, an excess often applies. The amount of the excess depends on where you go for the window replacement. Insurance companies may refer you to repairers with whom they have contracts.

Termination of oldtimer insurance

The classic car insurance has a standard term of one year. After the first year of insurance, the insurance will be renewed for another year. After the first year of insurance, the insurance can be cancelled daily. Some insurers use a notice period of one month. This is allowed. When cancelling the old-timer insurance on the 5th of April, the insurer is allowed to end the insurance on the 5th of May. When selling the oldtimer, the oldtimer insurance can be cancelled immediately. This is logical, as there is nothing left to insure. The insurance can also be cancelled in the first year when the old-timer is sold.

Damage control by the insurer

For damage repair, insurers make use of damage control. This means that you should preferably have the old-timer repaired by a repair company designated by the insurer. They steer damage by, for example, reducing the excess if you go to the affiliated repairer. We are also familiar with this phenomenon in glass repair.

Driving with alcohol at the wheel

Insurers are strict in the case of damage where the driver was under the influence of alcohol. The insurer has the right to recover the amount of the damage from the person who caused it. In a liability case, the damage to the other party is compensated. The insurer can then send the drunk driver an invoice for the damage. This type of damage recovery can involve large sums of money.

Other exclusions

In the policy conditions there are even more situations where there is no coverage. For instance, participating in speed contests or renting out the old-timer. The oldtimer insurance does not provide cover either when driving the oldtimer without a valid driving licence.

Guarantee

In the event of a collision abroad, you may have to face bail. In an extreme case, the old-timer can be confiscated. It is even possible that you yourself end up in prison. The oldtimer you get back against payment of a deposit. The insurer takes care of this. Also when a deposit is needed to get you out of jail.