Industry Analysis & Industry Trends
The Classic Car Insurance industry generates revenue from two main sources: premium income and investment income. Premium income is estimated to account for approximately 80% of industry revenue in 2016-17. There are many different types of classic car insurance policies, including comprehensive cover, laid-up cover, and third-party, fire and theft cover. The level of risk and the premium prices vary considerably, depending on the type of policy.
The industry has endured challenging conditions over the past five years. In the early part of the five-year period through 2016-17, consumer confidence and real disposable income declined... purchase to read more
Industry Report - Industry Analysis Chapter
The Classic Car Insurance industry has had to deal with difficult conditions over the five years through 2016-17. The industry generates revenue through premium income and investment income. Premium income is the price paid by a customer for an insurance policy. Investment income is the revenue that insurance companies earn from investing premium income. Premium income comprises the majority of industry income.
The industry's performance at the beginning of the five-year period through 2016-17 was constrained by the ongoing effects of the economic downturn. Real household disposable incomes fell leaving many people unable to afford the costs associated with owning a classic car. Consequently demand for insurance dropped off for all but investment-grade classic cars. Thi.. purchase to read more