Analysis

Richard Morley: The secret behind cost pressure-busting lower classic car premiums

By 2024-09-19T10:36:00

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’We still see a large percentage of our customers paying less than £100 – pretty cheap,’ says broking director

The insurance industry is all too aware of the economic impact on the motor market over the last couple of years.

Factors such as inflation off the back of the Covid-19 pandemic led to a sharp rise in costs and, in turn, an increase in premiums.

For example, according to market analysts EY, for every £1 in premiums collected in 2023, the industry paid out £1.13 in claims and expenses.

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