Most mainstream insurers detest classic cars - they are rare, much more expensive and tracking down the parts for a repair not only comes at a price but takes a considerable amount of time.

Little wonder then that many insurers will either refuse to cover cars over a certain age or instead charge exorbitant rates for the most basic of policies.

For these reasons, it is usually recommended for owners of vintage cars to find a specialist insurer who won`t charge the earth and still provides good cover.

The vast majority of classic cars are not used as an everyday vehicle but brought out of the garage on special occasions. This low useage and `second car status` is recognised by specialist car insurers and this, coupled with the fact that nearly every classic car owner is fanatical about taking care of his vehicle, helps to drive down the cost of the premium.

However, no matter how important the cost is, there are a number of other factors which separate classic car insurance from mainstream policies.

As a general rule, if an accident occurs, the insurer pays out the valuation of the car, with newer cars generally costing more. Of course, with classic cars the opposite is true and this can cause difficulties with insurers who don`t have a claims team with the sufficient knowledge to value vintage vehicles.

Classic cars appreciate at a different rate to everyday motors and this can cause disputes in the event that a valuation is required. In addition, one of the most important features for many classic car owners is that the vehicle is fitted with original parts, a very different approach than that usually taken by insurers looking to repair damage.

As well as lacking specialist knowledge to accurately value a classic car, mainstream insurers will often refuse to provide cover other than just the basic requirements. For example, goods held inside a vehicle with a soft top will usually be excluded and breakdown cover will not be entertained. Windscreen services, sometimes given away as a free benefit of insurance, are also likely to not be provided for classic cars.

Fortunately for classic car drivers, all of the above can be obtained from a specialist insurer but they may have certain conditions which must be met for the policy to be provided.

Although it is possible to agree the guaranteed value of the car that will be paid out in the event of a claim, the amount is decided by the insurer, it cannot be solely stipulated by the owner. Some insurers will not offer classic car insurance unless the vehicle is stored in a locked garage with restricted access. It can also be difficult to get young drivers insured on a classic car policy and souping up or refitting the car in any way so it can take part in rallies is banned.

The combined benefits of classic car insurance plus the cheaper premium mean that opting for a mainstream insurer makes little sense. For those who still find the cost of insurance difficult to afford, most companies accept payment on plastic, so using your Tesco credit card is one way to fund your hobby.