By Josh Recamara
Hagerty has launched two new insurance products in the UK, underwritten by Aviva, aimed at making classic car ownership more accessible to younger drivers and broadening how enthusiasts can use their vehicles.
Effective immediately, drivers 21 and over, who have held a full licence for at least three years and have another everyday vehicle, can insure a classic made before 2010. Hagerty has also introduced a daily-driver policy, which permits classics over 15 years old to be used more regularly, capped at 5,000 miles annually. To qualify, the main driver must be at least 25.
Mark Roper, managing director of Hagerty International, said the definition of what constitutes a classic and who owns these vehicles is changing. Modern classics, from rare hatchbacks to performance cars, are increasingly popular with younger collectors. He added that changes in lifestyle, including more people working from home, mean some owners now run a classic as a regular car, driving them more frequently than before.
Reaching the younger market
The new products come at a time when several UK insurers are expanding cover for younger drivers. Footman James offers policies for 18 to 24 year olds on cars over 20 years old, often with limited mileage restrictions. Goodwood Classic Solutions also provides cover for under-25s, with policies starting at around £395 depending on vehicle and usage. Custodian Insurance has reported a rise in younger collectors, with 25 to 39 year olds showing the fastest growth in classic ownership.
The wider insurance market is responding to demand from a new generation of enthusiasts. While young drivers traditionally face higher premiums, specialist providers have sought to manage risk through measures such as mileage caps, enhanced security requirements, and membership in recognised car clubs.
Overall, classic car insurance premiums have risen by around 17% year-on-year to an average of £469, but falling vehicle values and new product offerings are making ownership more attainable. Brokers note that for younger enthusiasts, affordability and usage flexibility remain central factors in policy design.
Hagerty’s move to extend eligibility and provide daily-driver options reflects these market shifts. As more insurers introduce policies tailored to younger drivers, the sector is likely to see further growth in participation from a demographic once considered outside the traditional profile of a classic car owner.
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