A slightly older car, but certainly not a classic car. Fun to tinker with, and great to show off at exhibitions. A car like this is called a youngtimer. You can insure it separately, and even get a bit of a discount on your car insurance premium as a result. In other words, youngtimer insurance. How does this type of insurance work? This page describes the situation in the Netherlands.
What is a youngtimer?
First of all, it is good to know what we mean by a ‘youngtimer’. You know what a classic car (oldtimer) is, but with a youngtimer it is a bit more difficult. Officially, there is no definition of the term. Some insurers consider a 10-year-old car a youngtimer, while other insurers use an age of between 15 and 25 years. The best thing is to check the insurer’s terms and conditions. Then you will know what the car has to meet to be insured as a youngtimer.
An ‘ordinary’ classic car is usually not suitable for everyday use. A youngtimer is. That is why different conditions often apply to youngtimers than to classic cars.
A lower premium with a youngtimer?
When choosing car insurance, check whether the car meets the conditions for a youngtimer. This can get you a lower premium. Sometimes the insurer does set additional conditions. For example, the insurer may limit the number of kilometres you are allowed to drive the car each year.
In some cases, it is cheaper to insure the youngtimer in a different way. You then insure the car as a second car.
Conditions
Special conditions apply to youngtimer insurance. For example, the insured person must own another car for everyday use. The youngtimer may only be used as a hobby. So you are not allowed to use the car for commuting. It is also good to keep in mind that the youngtimer keeps getting older, and at some point becomes a classic car. Then it is worth looking into classic car insurance as well.
Do I have a youngtimer or a classic car?
If you are not sure whether your car is a youngtimer or already a classic car, it is wise to check this with the insurer. Check this with several insurers. It may be possible to take out classic car insurance. The monthly premium for classic car insurance is much lower than for youngtimer insurance. Classic cars also have other advantages, such as advantages relating to road tax (wegenbelasting) and other matters.
The appraised value of a youngtimer
The advantage of youngtimer insurance is that the insurer knows it is a special car. This is also taken into account when the value is determined. Normally, a car insurer only pays out the current value of the car in the event of a total loss. With youngtimer insurance, the insured person receives the appraised value, provided the car is insured on that basis. Whether this is the case for you can be found on your policy schedule. The insurer must also accept the valuation report.
Few insurers offer special youngtimer insurance yet. It is often possible, however, to insure the car on the basis of its appraised value. It is wise to contact the insurer of your choice about this. The condition is that you submit a valuation report drawn up by a certified valuer.
Youngtimer insurance cover
Just as with ordinary car insurance, there are roughly three types of youngtimer insurance: third-party liability insurance (WA), limited casco insurance and all-risk insurance (or fully comprehensive cover). We briefly explain these types of cover.
Third-party liability insurance (WA)
Third-party liability insurance (WA) is the minimum insurance for every car. It is compulsory by law for every car owner. It covers your liability for damage to the other party. Damage to your own car is therefore not covered.
Limited casco insurance
With limited casco insurance, you insure the car against liability for damage to the other party. In addition, damage caused by fire, broken windows and damage from a collision with stray animals is also covered.
Fully comprehensive insurance (all-risk insurance)
The most extensive insurance is fully comprehensive insurance (or all-risk insurance). It covers the risks of these causes of damage:
- Damage to third parties or an accident involving two parties;
- Fire, explosions and lightning strikes;
- Theft;
- A chip in the windscreen;
- Collisions with animals;
- Storms and other natural forces;
- Collisions, skidding and ending up in the water;
- Other sudden external events.
This is the most extensive insurance, covering a lot of risks. This cover is often chosen for newer cars.
Read also: Situations in which third-party car insurance does not pay for damage, Classic car insurance and Compare classic car insurance.
Frequently asked questions about youngtimer insurance
Can I use my car every day?
With youngtimer insurance, you are often allowed to use the car every day as well. You then also insure yourself for everyday use of the car. However, commuting is not allowed. This is because the car must be kept as a hobby. So the occasional drive is no problem at all. Because the youngtimer is a relatively young car, it can be insured for everyday use.
When is a car a youngtimer?
There is no fixed rule for when a car is a youngtimer. Usually these are cars between 15 and 25 years old that may become classics in the future. It can also be a car of this age with low mileage and a high current value. A good example of this is a Mercedes S-Class with 100,000 kilometres on the clock.
Is there a separate road tax for youngtimers?
No. Although a separate road tax scheme does apply to classic cars, there is no separate scheme for youngtimers. This means you pay the normal road tax for a youngtimer.
Do you also build up no-claims years with youngtimer insurance?
With ordinary insurance, you build up no-claims years and climb the no-claims ladder (bonus-malus ladder). This may be different with youngtimer insurance. Because the car may only be used as a hobby, policyholders with some insurers do not build up any extra no-claims years. It is good to pay attention to this when you take out the insurance. So when you take out the insurance, ask the insurer what the consequences are for your no-claims years.
Can you always take out youngtimer insurance?
No. Not all cars qualify for the label ‘youngtimer’. The insurer decides whether the car is regarded as a youngtimer. For example, there is a minimum age for the car and other requirements apply. The car may only be used as a hobby, for example. So you are not allowed to drive it to work.