Car insurance for Triumph cars

Triumph is one of the most prestigious names in motoring and with its vehicles so sought-after you may expect to pay heavily when you compare car insurance. However, there are ways to bring premiums down.

How much does it cost to insure a Triumph model?

Car insurance premiums are assessed on a number of different criteria including your driving history, your personal circumstances, your annual mileage, your address and the vehicle itself. As such there can be substantial differences in the premiums that two drivers of identical models receive.

However, the vehicle you drive does influence your premiums itself and if you are considering buying a Triumph model it’s well worth considering the cost of insurance when choosing the vehicle that’s right for you.

To illustrate the point we compared quotes for a 27-year-old male driver from Cheshire with five years’ no-claims and a £250 excess. First we assessed the premiums he would pay to insure a Triumph 1500 TC with a 1,493cc engine built from 1973-1976 and found that he could get car insurance as cheap as £179.01 a year.

However, if the same driver owned a Triumph 2.5 PI built from 1968-1975 with a 2,498cc engine then despite having otherwise identical details the cheapest quote the driver could receive is for £207.97 a year – a difference of nearly £30 based purely on the driver’s vehicle choice.

The contrast is caused primarily by the difference in engine size – as a rule of thumb, vehicles with more powerful engines are usually more expensive to insure because they are more likely to be driven at fast speeds. In addition, insurers also consider the repair/replacement costs of a vehicle, the security features it has in place and the cost of replacement parts.

Where can you get a cheap deal on insurance for a Triumph car?

There is no one insurance company that will always be cheapest for a Triumph which is why you should compare as many policies as possible before deciding on the right deal for you. While price is important you should also consider what you’re getting for your money – for example, does the policy offer all the features you would expect as standard? Some of the policy features you may wish to look out for include windscreen cover, cover for personal effects, medical expenses, breakdown cover and legal expenses cover.

However, as the majority of Triumph models were built prior to 1975 they are usually classified as ‘classic cars’ by insurers. While many conventional insurers will offer insurance for classic cars there are also a number of specialists on the market that tailor their policies specifically for classic car owners with features such as:

- Agreed mileage limits: As most classic car owners have a second car and only use their classic vehicle on special occasions they may benefit from a discount related to the number of miles they drive.

- Agreed valuations: Many classic cars, including Triumph models, could be subject to market valuations if they are written off or stolen. However, with an agreed valuation you know from the outset what your car is worth so you are never short changed by market fluctuations.

- Advanced driving course: Many specialists offer discounts if you take an advanced driving course such as the Pass Plus if you’re a new driver, or the IAM.

- Laid-up insurance: If your Triumph is a project you are rebuilding then look for laid-up insurance which will cover it against theft and mishaps while it is off the road.

- Owners’ club discounts: Some insurers reward members of owners’ and manufacturers’ clubs believing they are more likely to take care of their vehicles.

Though you should certainly assess the quotes available from specialist insurance companies, still compare them alongside those from conventional insurers to ensure you’re receiving value for money. For example, does the classic car insurer offer the same policy features as a conventional insurer and how do the prices compare?

How to drive down the cost of Triumph car insurance

As discussed, insurers assess premiums based on the likelihood of you making a claim. So here are some tips that could reduce your premiums:

- Agree to a higher voluntary excess: The excess is your contribution to a claim – increasing your voluntary excess will usually lower premiums but keep it at a level you can afford.

- Build up a no-claims discount: Steer clear of accidents and motoring convictions and build up a no-claims discount which could be worth as much as 60 per cent off your premiums after four or more years.

- Increase security: Consult your insurer about which security devices earn discounts – generally insurers offer discounts for alarms, immobilisers and tracking devices because they reduce the risk of theft.

- Park safely: Keep your Triumph in a locked garage overnight where it is less likely to be targeted by thieves.