Owners of classic cars are nothing if not enthusiasts – one acquisition tends to lead to another and, before you know it, any given individual or company has amassed a whole collection of valuable classic motors.
If your business involves the acquisition of such historically important makes and models on behalf of collectors – and the subsequent repair, servicing and maintenance of those vehicles – your classic motor trade insurance is essential to safeguarding your enterprise, its assets and liabilities.
In this highly specialised niche of the wider insurance market, Aston Scott has the expertise and experience of securing insurance for classic car motor traders that is tailored to meet your specific needs and requirements, yet at competitive premium rates.
The latest discovery
One of the latest discoveries of a private classic car collection was unveiled by the Sun newspaper in a story dated the 21st of August 2017.
This described how just one classic car enthusiast has managed to acquire a collection of no fewer than 350 classic cars, valued at an estimated £40 million, which is said to be the largest such collection in the UK. And – with a varied and diverse array of classics, including a Vulcan tourer built in 1911 – it is one of the most important classic vehicle collections in the whole of Europe.
Insurance for motor traders of classic cars
If you are in any way trading in classic cars, insurance for your business is clearly a highly specialised product, reflected in the nature and extent of the protection it affords:
- your business premises and showrooms may be a cut above the average car dealership, so that the classic makes and models are displayed to full effect;
- this may mean higher than usual security and almost certainly additional, specialist equipment tools which can significantly increases the value of the contents of your premises;
- the vehicles you own and display to prospective purchasers are also likely to be especially valuable – with precise insurance valuations calling for the insurance provider’s specialist knowledge and familiarity with such one-off examples of classic vehicles;
- your classic motor trade insurance also needs to cover you and your employees’ legal requirement for cover to drive such vehicles, including those which potential customers want to take for an accompanied test drive;
Your customers’ vehicles
- customers’ vehicles in your care during repairs, servicing and maintenance clearly represent specialist risks of loss and damage when such rare or unique examples of classic cars are involved;
Professional negligence and defective workmanship
- when classic cars are involved, issues of alleged professional negligence or defective workmanship are likely to be especially complicated, calling for insurance for classic car motor traders that recognises the standards that might reasonably be expected of such a business.
All in all, the provision of insurance for motor traders in classic vehicles calls for highly specialised skills and expertise.
Those are the skills we have honed here at Aston Scott, where we are ready and waiting to receive your call – on 03300 085045 – to discuss your particular, individual requirements for this specialist form of insurance.