There’s a big difference between a car that gets you from A to B… And a car you bought with your heart. Maybe it’s a vintage Porsche, a limited-edition BMW, or your dad’s lovingly restored Ford Escort. Whatever the model, collectible cars aren’t just vehicles. They’re investments, and they need the kind of cover that goes above and beyond what standard car insurance is built for.
You see, the king’s comprehensive car insurance is great. It’s just not designed to cater for collectability, rarity, or rising value. That’s why we offer specialised cover for collectible cars, designed to protect your pride and joy.
What makes a car collectible
There’s no single definition, but we have an idea of what ‘collectible’ means to us. If your super special set of wheels sounds anything like what we’re describing below, you might need more than just basic cover.
For our royal purposes, collectible cars are:
- At least 20 years old.
- Rare, limited-edition, or iconic models.
- In excellent condition or restored.
- Not driven every day, usually kept for display, events, or occasional Sunday drives.
So, why won’t standard cover do the trick
Most regular car insurance policies are based on market or retail value, both of which depreciate over time. But the value of collectible cars doesn’t work this way. In fact, they often appreciate in value over time. If yours is stolen or written off and you only have standard cover, you might be paid out far less than it’s worth.
That’s where agreed value cover comes in.
How agreed value cover works
Instead of insuring your car for its market value, you and King Price agree upfront on what it’s worth. That’s the value used to calculate your premium, and it’s the amount you’ll get if your car is stolen or written off.
So, if your rare 1992 Mazda RX-7 is insured for R400,000, that’s what we’ll pay… No surprise depreciation deductions.
Added perks for collectible cars
- Customised premiums. Because the car isn’t driven daily, your risk is lower, and so is your premium.
- Optional extras. You can add extras like car hire, theft-only cover, or scratch and dent cover, depending on how your car is stored or used.
- Flexible storage options. Let us know how and where it’s stored, as this can also help reduce your premium.
Want to cover a collector’s car with us
All we need is:
- Proof of ownership.
- Photos showing the car’s current condition.
- Any valuation report you’ve got from a trusted appraiser or specialist.
From there, we’ll help you build the right policy, the kind that’s fit for your 1-of-a-kind classic. All that’s needed is a chat, which you can do any way that makes you comfortable. You can either give us all, request 1 of our experts to give you a call back, or even WhatsApp us on 0860 50 50 50. Failing that, simply click here for a commitment-free quote.
FAQs
1. Can I insure a collectible car that I drive daily?
Our collectible car cover is designed for occasional-use vehicles. If you drive it daily, a standard comprehensive policy might be better.
2. What’s the difference between agreed value and market value?
Market value is based on depreciation. Agreed value is a fixed amount you and your insurer agree to upfront.
3. Will the value of my collectible car increase every year?
Potentially, yes. That’s why we recommend updating your valuation every 12–24 months.
4. Is my classic car insured while I’m restoring it?
Yes, as long as you disclose its condition and storage situation upfront.
5. Does King Price offer cover for car collections?
Yes. If you own more than 1 collectible, we can help you bundle them into a single, customised policy.