The Heritage Classic Car Report of 2026
The classic car community in the UK has never been more vocal, passionate or resilient. Despite ongoing economic pressures and the steady march of electric vehicles into the mainstream, classic car owners remain as committed to their vehicles as ever, and in many cases, even more so.
For our 2026 report, we surveyed 841 classic car owners across the UK and combined their responses with our exclusive insurance data to produce one of the most comprehensive pictures of the current classic car ownership landscape. From average insurance premiums and storage habits to attitudes on EVs and investment sentiment, our data sheds new light on what drives the classic car community in 2026.
We’ve also compared our 2026 findings directly with our 2025 report, highlighting where things have changed, and where they’ve remained reassuringly constant.
Table Of Content
- Section One: Classic car insurance statistics
- Section Two: Classic car insurance market size
- Section Three: Average cost of classic car insurance 2026
- Section Four: By driver’s age: The average cost of insuring a classic car
- Section Five: How old is a average classic car owner?
- Section Six: How many classic cars do people own?
- Section Seven: Why people own classic cars
- Section Eight: How often people check values of their classic car(s)
- Section Nine: Are classic cars a good investment?
- Section Ten: Classic cars and the electric vehicle revolution
- Section Eleven: 2025 report vs 2026 report: key differences
- Section Twelve: Why choose heritage for your classic car insurance?
Our Top UK Classic Car Statistics for 2026
- The average classic car insurance premium is £154.59.
- The South East has the most classic car owners in the UK.
- The average classic car owner is approximately 66–67 years old.
- 51% of classic car owners own just one classic car; 47% own two or more.
- 69% of classic car owners are part of at least one car club.
- 27% of owners never check their classic car’s value.
- 86% believe classic cars are part of Britain’s cultural heritage.
- 59% agree that EV regulation poses a long-term threat to classic car ownership.
- 84% of owners would like to see more young people get into classic cars.
- The most popular reason for owning a classic car remains the enjoyment of driving (70%).
Classic Car Insurance Market Size
The UK classic car insurance market is valued at £835.9 million in 2026, with 76 businesses operating in the sector. This marks a significant milestone, the market has now surpassed the pre-pandemic peak of £786 million recorded in 2019. In summary:
- 2014 to 2019: Steady growth to a peak of £786 million
- 2020 to 2021: Market declined during the Covid-19 pandemic to a low of £710.8 million, likely due to owners switching to Laid Up policies as vehicles were driven less
- 2022: Market began to rebound, valued at £727.9 million
- 2023 to 2024: Market size reached £753.1 million in 2024, an increase of 2.21% from 2023
- 2025 to 2026: Growth has continued at a CAGR of 3.5% between 2020 and 2025, with the market reaching £835.9 million in 2026
The question asked in our 2025 report, whether the market’s consistent growth would continue, has been emphatically answered. The classic car insurance market is not only growing, it is now larger than it has ever been.
Source: IBISWorld, July 2025
What About the Wider Classic Car Market?
The classic car insurance market sits within a much larger and economically significant sector. The FBHVC’s 2025 National Historic Vehicle Survey, the most comprehensive study ever conducted into the UK’s historic vehicle movement, found that the sector now contributes £7.3 billion annually to the UK economy, supporting 34,500 skilled jobs across 2,700 specialist businesses.
The number of historic vehicles registered with the DVLA has risen to 1,934,178, just shy of the 2 million mark once forecast for 2025, and owners are now spending an average of £4,567 per year maintaining and enjoying their vehicles.
That is up from just over 1.5 million historic vehicles registered in 2020, representing substantial growth in the registered fleet over five years.
Key headline figures from the FBHVC’s 2025 survey:
- 1,934,178 historic vehicles now registered with the DVLA
- £7.3 billion contributed annually to the UK economy
- 34,500 skilled jobs supported across 2,700 specialist businesses
- 690,777 historic vehicle owners in the UK
- More than 22.7 million adults regard historic vehicles as a vital part of Britain’s heritage
- Average historic vehicle now covers just 837 miles annually, down from 1,200 miles in 2020
- Historic vehicles contribute only 0.2% of all UK road mileage, yet generate significant tourism, education and cultural value
Source: FBHVC 2025 National Historic Vehicle Survey, published October 2025
The Average Cost of Classic Car Insurance in 2026
Using our exclusive in-house data, we’ve calculated that the average classic car insurance premium stands at £154.59* in 2026, including Insurance Premium Tax (IPT).
As always, the exact premium will vary considerably depending on the vehicle, the level of cover required and the driver’s individual risk profile. A Wolseley Hornet valued at £5,000 and driven 1,000 miles a year will attract a very different premium to a Ferrari 328 valued at £80,000 and driven 5,000 miles.
£154.59, the average classic car insurance premium in 2026, based on exclusive Heritage Insurance data.
*Premium assumes somebody insures a single classic car with Heritage, excluding add-ons. Correct as of early 2026.
By Driver’s Age: The Average Cost of Insuring a Classic Car
Breaking down premiums by the age bracket of the insured driver reveals a clear pattern: younger drivers at either end of the age spectrum pay more.
Based on our data:
- £257.58 average premium for drivers aged 25–34
- £182.88 for those aged 35–44
- £149.42 for ages 45–54
- £144.19 for ages 55–64
- £141.46 for ages 65–74 — the cheapest age group
- £161.30 for ages 75–84
- £178.88 for those aged 85 and over
Drivers aged 65–74 benefit from the lowest average premiums, reflecting their strong safety record and extensive driving experience. Younger drivers aged 25–34 pay the most, as younger policyholders are statistically associated with higher claim frequencies.
By Vehicle Make: The Average Cost of Insuring a Classic Car
Of the ten most commonly insured classic car makes at Heritage, here’s how average premiums break down:
- Mercedes-Benz: £208.66 (most expensive)
- Jaguar: £203.16
- Porsche: £185.50
- Volkswagen: £131.09
- Ford: £127.54
- Land Rover: £116.53
- Rover: £113.35
- Austin: £105.60
- MG: £99.88
- Triumph: £91.98 (cheapest)
Premium differences broadly reflect vehicle values. Mercedes-Benz and Jaguar command higher premiums due to their typically higher agreed valuations, while Triumph and MG attract lower premiums consistent with their more modest market values.
By Vehicle Age: The Average Cost of Insuring a Classic Car
Our data continues to show a compelling trend: the older the vehicle, the lower the typical premium. Here’s how premiums break down by decade of manufacture:
- 1920s: £91.13
- 1930s: £100.72
- 1940s: £89.01 (lowest)
- 1950s: £99.92
- 1960s: £111.87
- 1970s: £115.42
- 1980s: £141.83
- 1990s: £218.27
- 2000s: £296.36 (highest)
Vehicles manufactured in the 2000s attract significantly higher premiums, driven by their higher market values as they begin to achieve ‘modern classic’ status. Pre-war vehicles, by contrast, are typically lower in value and often driven fewer miles, keeping premiums low.
UK Classic Car Ownership Statistics
How Old is the Average Classic Car Owner?
Our 2026 survey of 841 classic car owners reveals that the community skews notably mature, with an estimated average age of around 66–67 years old. A substantial 64% of respondents were aged 65 or over, with the 65–74 age group the single largest cohort, accounting for 39% of all respondents.
It’s also worth noting the presence of younger enthusiasts: 69 respondents (8%) were aged 45–54, while a smaller but encouraging group of 21 people (2.5%) were under 45 which is a sign that the next generation is beginning to engage with the classic car community.
64% of 2026 survey respondents were aged 65 or over — with an estimated average owner age of around 67.
Where Do Classic Car Owners Live?
The South East of England remains the heartland of classic car ownership in the UK, accounting for the highest proportion of our 2026 respondents (175 out of 841, or around 21%). The South West came second with 133 respondents (16%), followed by the East of England with 111 (13%).
This closely mirrors DVLA data from our 2025 report, which confirmed the South East has the highest concentration of registered ‘historic’ vehicles (those over 40 years old).
Where Are Classic Cars Stored?
An overwhelming 82% of classic car owners keep their vehicles in a private garage at home — a finding that underscores the personal, treasured nature of classic car ownership. A further 11% use their driveway, while just 3% rely on professional storage facilities.
How Many Miles Do Classic Car Owners Drive?
Classic cars are, by their nature, driven sparingly. Our 2026 survey reveals:
- 24% drive under 500 miles per year
- 29% drive 500–1,000 miles per year
- 25% drive 1,000–2,000 miles per year
- 20% drive 2,000–5,000 miles per year
- Only 2% drive over 5,000 miles per year
This reinforces why agreed-value, limited-mileage insurance policies are particularly well-suited to classic car owners.
How Many Classic Cars Do People Own?
Our 2026 survey finds a slight shift in the ownership split compared to 2025:
- 51% own just one classic car
- 47% own two or more
- 23% own three or more
- 11% own four or more
- 6% own five or more
While 2025 data showed a slim majority owning two or more (52%), 2026 sees a very slight reversal, with 51% owning just one. The passion for collecting remains strong, however, with nearly a quarter of owners holding three or more classic cars.
47% of classic car owners in 2026 own two or more classic cars, with 6% owning five or more.
Why People Own Classic Cars
The Enjoyment of Driving Remains the Top Reason
When asked what they enjoy most about owning a classic car, our 2026 respondents gave answers that will be familiar to anyone in the classic car world:
- Enjoyment of driving: 70%
- It’s my hobby: 61%
- Pride of ownership: 59%
- Satisfaction of maintenance & restoration: 44%
- Nostalgia: 36%
- Aesthetic and design: 30%
- Sense of community: 19%
- Investment potential: just 8%
The data confirms what classic car owners already know: these vehicles are loved for the experience and emotional connection they provide, not primarily as financial assets.
Classic Car Clubs: A Cornerstone of the Community
Car clubs remain a vital pillar of classic car culture. In our 2026 survey:
- 69% of respondents are currently members of at least one classic car club
- 31% are members of multiple clubs
- 16% are former club members
- 11% have never been part of a club
While the proportion of current members has dipped slightly from 75% in our 2025 report, the enthusiasm for community remains evident. Of those who have left clubs, reasons typically include a loss of interest in club activities or lack of time.
69% of classic car owners are currently members of at least one car club, with nearly a third belonging to multiple clubs.
Annual Spending on Classic Cars
Beyond insurance, classic car owners invest substantially in keeping their vehicles on the road. Our 2026 survey found:
- 26% spend under £500 per year on their classic car (excluding insurance)
- 36% spend £500–£1,000
- 24% spend £1,000–£2,500
- 10% spend £2,500–£5,000
- 4% spend over £5,000 per year
For the majority, annual spend sits comfortably in the £500–£1,000 range — a testament to the manageable running costs of many British classics when maintained with care.
How People Buy Classic Cars
Reflecting the digital age, 29% of our 2026 respondents said they had purchased at least one of their classic cars via the internet or social media. While traditional word-of-mouth and club networks remain important, online platforms are playing an increasingly significant role in connecting buyers and sellers.
How Often Do Owners Check Their Classic Car’s Value?
Classic car values can fluctuate significantly, but many owners are not closely monitoring the market. Our 2026 survey found:
- 27% of owners never check the value of their classic car
- 25% check annually
- 30% check once every few years
- 7% check quarterly
- 4% check monthly
- 1% check more than once a month
The high proportion who never check — or check only every few years — is consistent with the overarching finding that most classic car owners are motivated by passion rather than profit.
27% of classic car owners in 2026 never check the market value of their vehicle.
Where Do Owners Check Their Classic Car’s Value?
When owners do check their car’s value, they tend to rely on a range of traditional and modern sources:
- Magazines and publications: 22% (most popular)
- Auction results: 22%
- Car clubs: 14%
- Classic car dealers: 10%
- Online valuation tools: 10%
- Word of mouth: 8%
Magazines and auction results share the top spot in 2026, reflecting the enduring importance of specialist media and the live market in establishing vehicle values.
Classic Cars as British Cultural Heritage
One of the most striking findings from our 2026 survey is the near-universal consensus that classic cars hold a place in British cultural history. A remarkable 92% of respondents agreed that classic cars should be protected as part of Britain’s cultural heritage — a powerful statement of the community’s sense of identity and purpose.
92% of classic car owners agree that classic cars should be protected as part of Britain’s cultural heritage.
Are Classic Cars Good Investments?
43% of respondents agreed that classic cars are good investments (either ‘strongly’ or ‘somewhat’), while 25% disagreed. This compares to 53% who agreed in our 2025 report, suggesting a softening of investment optimism in 2026, perhaps reflecting continued headwinds in classic car valuations.
Do owners think their Classic Car values will increase in 2026?
Sentiment around near-term price growth remains cautious. In 2026:
- 51% said they were unsure whether prices would increase in the next 12 months
- 22% agreed prices would rise
- 22% disagreed
This level of uncertainty is broadly similar to 2025, when 52% were unsure — though the proportion agreeing prices would rise has fallen from 31% to 22%, indicating a more sceptical outlook.
51% of classic car owners in 2026 are unsure whether classic car prices will increase over the next 12 months.
Would Owners Sell if Values Rose Significantly?
Even amid investment uncertainty, the classic car community remains deeply attached to their vehicles. If their car’s value were to double:
- 47% said they would NOT sell, consistent with the 49% who said the same in our 2025 report
- 33% said they would consider selling
The emotional attachment classic car owners have to their vehicles continues to outweigh financial incentives for nearly half of all owners surveyed.
Classic Cars and the Electric Vehicle Revolution
The rise of electric vehicles continues to cast a long shadow over the classic car community. Our 2026 survey explored attitudes in depth.
Is EV Regulation a Threat to Classic Car Ownership?
A significant 59% of respondents agreed that increased regulation favouring electric vehicles poses a long-term threat to classic car ownership. This is a notable majority — and a concern that Heritage Insurance takes seriously on behalf of its clients.
59% of classic car owners believe increased EV regulation is a long-term threat to classic car ownership.
Are Owners Open to Converting Their Classic to Electric?
The short answer is: overwhelmingly no. Of our 2026 respondents:
- 72% strongly disagreed with converting their classic to electric
- 11% somewhat disagreed
- Only 4% somewhat agreed, and 2% strongly agreed
This aligns with earlier Heritage research which found 82% of classic car owners are not ready to convert their vehicles to electric. The classic car community views originality as sacrosanct — electrification is not on the agenda for the vast majority.
For those who are open to it, the primary motivation would be future-proofing the vehicle (cited by 58 respondents), followed by environmental benefits and improved performance.
A Future Dominated by EVs: The Community’s View
84% of respondents said they would like to see more young people consider owning a classic car. This aspiration — to pass the baton to a new generation — speaks to the deep cultural pride the community feels in its vehicles and the lifestyle they represent.
There’s also concern about the practical future of classic car maintenance. 51% of respondents agreed they are worried there won’t be enough skilled mechanics to maintain classic cars in the future — a legitimate concern as the automotive workforce pivots increasingly towards EV technology.`
2025-vs-2026
2025 Report vs 2026 Report — Key Differences
How has the classic car landscape changed in the past 12 months? Here we compare the headline findings from our 2025 and 2026 reports side by side.
| Metric | 2025 Report | 2026 Report |
| Survey respondents | 845 | 841 |
| Average insurance premium | £123 | £154.59 |
| Average owner age (est.) | 69 years old | ~66–67 years old |
| % of owners aged 65+ | 58% | 64% |
| Own 1 classic car | 48% | 51% |
| Own 2+ classic cars | 52% | 47% |
| Car club membership (current) | 75% | 69% |
| Never check car’s value | 24% | 27% |
| Condition = biggest value factor | 85% | 83% |
| Classic cars are good investments | 53% agree | 43% agree |
| Prices will rise in next 12 months | 31% agree | 22% agree |
| Wouldn’t sell even if value rose | 49% | 47% |
| Top value source: auctions | #1 (23%) | #2 (22%) |
| Top value source: magazines | #2 (22%) | #1 (22%) |
| Most popular region | South East | South East |
| Top enjoyment reason | Driving (73%) | Driving (70%) |
What’s Changed in 2026?
The most significant shift between reports is the rise in average insurance premiums, up from £123 in 2025 to £154.59 in 2026 — an increase of around 26%. This reflects broader inflationary pressures in the insurance market, as well as the increasing values of modern classics from the 1990s and 2000s.
Investment sentiment has cooled noticeably. The proportion of owners describing classic cars as good investments fell from 53% to 43%, and confidence in near-term price growth dropped from 31% to 22%. This reflects continued softening of classic car values, particularly for pre-1980s vehicles, as noted by market analysts including The Classic Valuer in our 2025 report.
Car club membership has dipped from 75% to 69%, though it remains high. This may reflect lifestyle changes in the post-pandemic period or the increasing role of online communities and social media as alternatives to formal club membership.
The average owner age appears to have edged slightly younger in our 2026 sample (estimated 66–67 vs 69 in 2025), though methodological differences mean this should be interpreted with caution. What is clear is that the 65–74 age group remains by far the most active demographic in the classic car world.
What’s Stayed the Same?
Despite the changes, the core identity of the classic car owner remains remarkably consistent. The enjoyment of driving is still the most commonly cited reason for ownership (70% in 2026 vs 73% in 2025). Condition remains the overwhelming determinant of a classic car’s value (83% vs 85%). Owners remain emotionally attached to their vehicles, with around half refusing to contemplate selling even if values rose significantly.
The South East continues to be the heartland of classic car ownership, and the community’s passion for the culture, the craftsmanship and the camaraderie of classic cars shows no sign of diminishing.
Whatever the economic weather, classic car owners remain as passionate about their vehicles as ever.
Why Choose Heritage for Your Classic Car Insurance?
As pioneers in classic car insurance since 1965, Heritage has spent six decades earning the trust of enthusiasts across the UK. We’re proud to be the UK’s largest independent classic car insurance broker and rated 5 stars by over 4,300 clients.
Here’s why classic car owners choose Heritage:
- Agreed value cover, established free of charge when you insure with us
- Policies tailored to low-mileage, cherished vehicles
- Expert brokers who are passionate about classic cars themselves
We hope you’ve enjoyed reading our 2026 Heritage Classic Car Report.
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