Insuring a shared classic car in Ireland
One policy, every co-owner named on it, and no paid hire. That covers most of it.
A shared classic is insured like any other classic: one policy in the lead owner's name, with every co-owner added as a named driver. Tell the insurer up front that the car is co-owned and who will drive it.
What classic policies usually look like
- Agreed value. You and the insurer agree what the car is worth before the policy starts. If it is written off, that is what you get, not a depreciated figure.
- Limited mileage. Typical caps run from 3,000 to 8,000 km a year. On Mile Club the annual cap is split between co-owners by share, and each listing shows the cap.
- Driver rules. Many classic policies want drivers aged 25 or 30 and over, with a full licence held for five years or more. If one of your group is younger, ask before you buy the share.
- Garaging. Insurers like a locked garage. Lay-up cover protects the car against theft and fire while it's stored.
The rule that matters most
Co-owners driving their own car is private use. Renting it to someone outside the group, or doing paid weddings, is commercial use. That needs a different policy, and the Road Safety Authority treats commercially used vintage vehicles differently for testing too. The Mile Club rules ban paid hire for this reason.
Who pays the excess?
Under the standard rules, whoever had the car when the damage happened pays the excess and any cost the policy doesn't cover. Wear and tear, and mechanical failures that aren't anyone's fault, come out of the maintenance fund.
This guide is general information, not insurance advice. Talk to a broker who specialises in classics.
Sources
Rules and rates change. Check with Revenue, motortax.ie, the RSA, your insurer and a solicitor before you rely on anything here.