Working out whether a vehicle can be classed as a 'classic car' for insurance purposes isn't straightforward, to say the least. Insurers each have their own set criteria, but there are a few common requirements.
That's why it's worth exploring the reasons why vehicles are classed as 'classic cars'. We'll also look at 21st century cars that could be categorised as classic for insurance purposes sometime in the future.
What makes a car ‘classic’?
If you're looking for a widely accepted definition of what a classic car is, you're unlikely to find one. That's because each insurance provider will have a set criteria of what they deem a classic car.
Confusing? It goes without saying.
However, there are several older cars that have definitive classifications, such as:
- Post-vintage: These are cars manufactured specifically between 1931-1945
- Vintage: Cars made prior to 1930
- Veteran: Generally cars that predate World War I (1914)
When does a car become classic?
The criteria we have already discussed can definitively categorise vehicles as classic cars, but it's not always clear.
It's important to state that age isn't the sole reason behind a vehicle qualifying as a classic car.
While age is factored in, the rarity, desirability, historical significance or aesthetic appeal are also considered when classifying a vehicle as a classic car.
What is a 'future classic car'?
While authorities such as HMRC set out a minimum age condition to be considered a classic car, it isn't a universal rule. Therefore, some of the relatively modern cars on UK roads might be considered classic by some insurers, and you wouldn't even know!
So, taking into account some of the determining factors that qualify a car as classic, it's possible to predict classic cars of the future.
What cars could be a classic car in the future?
If you consider all of the factors we've listed already that could class a vehicle as a classic car, you could project possible future models.
Take the Audi TT Quattro Sport as an example. It's unique shape, powerful engine, age and desirability make it a strong contender to qualify as a classic car in the eyes of insurers in the future.
While the TT Quattro Sport does have age working in its favour, this doesn't necessarily prevent other cars from gaining classic car status. There are several cars that insurers may deem as classic cars in the future, including:
- Mazada mx5 ND (2015 - present)
- Ford Focus ST Mk8 (2018-2023)
- Audi TT quattro Sport (2005-2006)
- Porchse Cayman GT4 781 (2015 - present)
- Tesla Roadster (2018-2012)
- Audi RS6 Avant C7 (2013-2018)
- Honda Civic Type R Fk8 (2017-2021)
- Land Rover Defender (2020 - present)
- Mini John Cooper Works GP (2020)
- Jaguar F-Type P450 RWD (2022 - present)
Will classic cars be banned in 2030?
No, classic cars won't be banned in 2030. This refers to the ongoing government plan to ban the sale of new petrol or diesel cars by 2030. Though the ban doesn't apply to classic cars, there might be some challenges for classic car owners.
Why does it pose a challenge? While the rarity of some cars may soar, road tax and fuel prices could rise as a result of a potential ban. It might become increasingly difficult to source replacement parts too.
In short, classic cars wouldn't be 'banned' per se, but rather, hobbyists could be deterred by the rising costs of maintaining a petrol or diesel car.
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