Despite the recession, perhaps because of the recession more and more car drivers are purchasing the classic car or performance motor they have always dreamed of owning and driving when they were younger. It may have been because they could never afford it, or more likely due to other commitments such as having to purchase a sensible family estate car for the wife and three children, that they are now making up for it – big time!

Times have changed and due to the economic crisis and a change in the attitude of a generation, sports cars and classic cars are all the rage with the baby boomers, who can now be seen driving around town in cars they once pushed around as dinky or matchbox toys when they were little boys and girls.

Those big kids who would once maybe invest in shares on the stock exchange are now putting their investments into tangible property, and classic cars and performance motors have become the investment collectors portfolio of choice. Consequently as demand for expensive cars rises, the supply of car insurance responds, and there are now some excellent money saving opportunities on the market that were only available to a privileged few before the advent of online  underwriting.

For those of us who have eventually realised our dreams and secured that prized classic car or souped up modified sports car we always wanted, it is important to protect it with a comprehensive policy from an independent insurance specialist.

Specialist car insurance providers will save you money by presenting to you unique cover options, which have been specifically incorporated into the policy wording for your specific vehicle.

These bespoke policy types are known as classic car insurance schemes and are often initially drawn up by an underwriter, in request to a large pool of insurance presented by a classic car club club or society. Each manufacturer will have multiple members clubs and there may be many schemes for a particular car model.

Hence the policy wordings of classic motor and sports car insurance schemes often contain elements that are specific to a particular car make, type and model. These schemes often include additional benefits, such as helplines and approved specialist repairers who are on hand as part of the claims package.

Specialist car insurance schemes also provide cover for high performance, prestige, classic or sports cars in particular, and you could certainly save money by taking out a policy from a scheme associated with your car, rather than standard motor insurance from a insurance comparison supermarket.

If your car is not a regular everyday standard road vehicle, but is special with accessories and modifications, or it is worth over £10000 you may find yourself subjected to higher premiums from the standard motor insurance providers.

Wholesale insurance companies argue that handling claims and arranging specialist parts for replacement and repairs, tend to be much more difficult to arrange and expensive and the result is higher premiums. Many mainstream car comparison insurers do not want to cover you period, so they will try to exclude you and dissuade you by offering highly weighted premium quotes and expensive cover.

Worse still if you are forced to claim, you may even get sent to the wrong type of repair workshop by a standard insurer, when your motor or classic car requires specialist tools at the main dealer or makers garage!

You could be paying much less for your classic cover by switching to a specialist provider of classic car insurance. In certain circumstances, for example where your existing policy provider is charging you for unnecessary elements of cover, or does not really want you as a client as your profile does not match the optimal risk profile for their book of insurance business, you could save hundreds if you switch to a classic scheme. Additionally schemes more frequently than not offer exclusive discounts not found at the mega insurance supermarkets.

The benefits of these schemes are that you buy a product that is totally suitable for your individual situation and designed around your exact personal requirements and your classic or performance car’s particular insurance cover needs.

Dave Healey is a specialist car insurance underwriter who has been underwriting Classic Car Insurance and providing expert classic and sports car insurance advice for many leading UK car insurance companies