Insuring a business youngtimer
A company car between fifteen and thirty years old is attractive for tax but awkward for insurance. The heart of the discussion is what you get back if something goes wrong.
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The calculator and the quote form below are in Dutch. Prefer to do this in English? Email info@finassverzekert.nl or call 072 - 509 24 56 and we will take it from there.
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In brief
A youngtimer falls between two worlds. The flexible conditions of a genuine classic car insurance do not apply yet, while the car is often too old for an ordinary own-damage policy. Where it is accepted, the insurer works with the market value, and that is unrelated to what the car cost new or to what you have spent on it yourself. Article 7:960 of the Dutch Civil Code provides that insurance must not put you in a clearly better position, so without an arrangement in advance you receive no more than the market value at the time of the loss.
The way out is a valuation report. An expert establishes the value, that amount is stated on the policy schedule and applies for the period of validity of the report. For a well-maintained car with a complete service history that makes a considerable difference. If the valuation expires without your renewing it, you still fall back on market value after a loss. So put the expiry date in the same diary as your MOT and your premium renewal date.
Where things really go wrong in this category is with repair. Cars from these years are full of electronics, air suspension and systems whose parts are only available complete or second-hand. A collision that is limited in itself then quickly leads to economic total loss, after which the insurer pays the market value and claims the wreck. If you want to avoid that, agree in advance that repair with used parts is permitted and that you may keep the vehicle. The related products are set out under youngtimer insurance and the business version.
This page deals with one situation. The full overview is on Compare classic car insurance.
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Help with claims
We report the claim and monitor how it is handled. In urgent cases you can reach us on the emergency line.
What to look out for
Four points that make the difference on a business youngtimer between repair and a written-off car.
The total loss rule is in the conditions
Insurers apply a ratio between repair costs and market value above which they no longer repair. If that threshold is low, your car is written off after a collision that leaves a dent in a door. Read this provision before you sign and ask whether repair on the basis of a valued amount is possible. Also ask about the arrangement for keeping the salvage.
Inherent defect and mechanical failure
An own-damage policy covers a sudden and unforeseen event from outside. A faulty automatic gearbox, a cracked head gasket, a failed air suspension compressor or a seized engine are inherent defect and therefore excluded. That applies even where the fault occurs during a journey for the business and brings you to a halt. Only the consequential damage to other parts is sometimes covered, provided the conditions say so explicitly.
Report modifications and accessories
A different exhaust, lowered suspension, a navigation system or an audio installation is not included in the declared value and therefore not in the payment either. A modification that affects handling can also lead to a discussion about acceptance. Report changes in writing. The duty of disclosure in Article 7:928 of the Dutch Civil Code applies when the contract is entered into, but you should report changes in the risk after that as well.
Theft risk and security requirements
Cars from these years rarely have a current-generation immobiliser and are in demand precisely because of the value of their parts. Insurers therefore regularly make an approved alarm or tracking system a condition, plus overnight storage under lock and key. If the car is parked in the street while the clause sheet requires a locked space, theft is not covered.
What does your premium depend on?
- Year of manufacture and condition: determines whether own-damage cover is still offered
- Valued amount or market value: a valuation changes both the premium and the payment
- Make and model: theft risk and parts prices are taken into account
- Security class: an alarm or tracking system is often an acceptance requirement
- Annual mileage: limited use produces a lower rate
- Excess: a higher amount brings the premium down sharply on a low market value
Insurers weigh these details differently. That is where your saving is.
What is covered on a business youngtimer
| Situation | Extended | Comprehensive |
|---|---|---|
| The car catches fire in the shed where it stands outside working hours | Yes | Yes |
| You reverse into a post. The damage to your own tailgate | No | Yes |
| A marten bites through the wiring in the engine compartment | Provided that | Provided that |
| Rust in the sills that comes to light at the MOT | No | No |
| The reduction in value because only used parts could be found after a collision | No | No |
| Theft from a locked business premises while the alarm was working | Yes | Yes |
With a valid valuation report it is not the cover that changes, but the amount that is paid out.
Frequently asked questions
This is what people ask us most.
In the event of a total loss do I get the market value or the valued amount?
Without a valid valuation report, the market value, and on a car of fifteen to thirty years old that is low. With a valid report the established value is the starting point. Watch the period of validity: if the report has expired at the time of the incident, you usually fall back on the market value and the valuation has only cost you premium.
Can a youngtimer still be insured for own damage?
With some companies it can, but not with all. Some insurers stop offering own-damage cover above a certain age, others offer only third-party, fire and theft. Third-party, fire and theft covers an exhaustive list of events such as fire, storm, theft and broken glass; a collision you cause yourself falls outside it. Weigh that against the residual value of the car.
Does the tax youngtimer scheme count for the insurance?
No. The tax treatment of a car of fifteen years or older is separate from acceptance and the premium. The insurer looks at the year of manufacture, condition, value, use and security. The scheme does affect practice indirectly: because the car is driven for business, the mileage is higher than on a hobby vehicle and that is taken into account.
What do I do if the insurer declares the car a total loss?
Ask for the calculation and check which parts prices it is based on. New prices for parts that are only available used push the figure up unnecessarily. Lodge your objection in good time and with reasons. The obligation to report a loss as soon as you know of it follows from Article 7:941 of the Dutch Civil Code, but you are certainly entitled to discuss the assessment.
Every situation is different. For these situations we have a separate page.
- Compare youngtimer insurance & take out cover at a good priceThe main page
- Insuring a youngtimer vanValuation, limited use, parts
- Insuring a youngtimerFifteen to forty years, value, use
- Insuring a youngtimer for business useAcceptance, clause sheet, reporting changes
- Using a youngtimer as a company carDowntime, replacement vehicle ·. The own-damage decision
- Insuring a Mercedes Benz youngtimerMercedes-Benz youngtimer, value over time, security, repairs
- Insuring a BMW youngtimerBMW youngtimer, value over time, security, repairs