Friday, 6 May 2016

NSW Historic Vehicle Registration & Insurance

Do you have a classic, or a future classic car sitting in the garage?  Are you one these owners who only drive their pride and joy on sunny days?  If so, you might be interested to know there are alternative registration and insurance options for these type of vehicle and/or use for residence of NSW.

Being a car enthusiast is an expensive hobby.  There is always that new and shiny part(s) to get, and in case of old vintage cars, something to fix.  So if you can save money from your yearly registration and insurance premiums, more goes into the parts kitty.
1971 Datsun 240z

In this blog I'll cover some of the key points to determine if the Historic Vehicle Scheme [HVS] from the Roads and Maritime Services [RMS] in NSW is something that will suit your registration needs.

I also contacted two insurance companies to use as examples of historic or classic insurance options for your toy.

Historic Vehicle Registration

What is HVS?
The Roads & Maritime Historic Vehicle Registration is an alternative registration scheme for historical, vintage, veteran and classic vehicles.

Why HVS?
Simple, to save money in yearly registration cost. But I see HVS suitable only for unmodified vehicles driven on club sponsored events.

  • Historic vehicles must be 30 years of age or older from the year of manufacture
  • The registered owner must be a member of a Roads and Maritime Services [RMS] recognised historic vehicle club
  • Historic vehicles must be as close to original condition as possible, with NO alterations except safety features, or period accessories and options

How to Register
You must attend a registry or service centre in person and present:
1974 Porsche 911 Carrera RS
Vehicle Use
Historic vehicles can be used for events organised by RMS recognised historic vehicle clubs or community organisations, provided an official invitation has been received and recorded by the club in the official minutes.

Historic vehicles can also be used on a road or road related area for:
  • Servicing within a short distance from their place of garaging
  • The inspection of the vehicle

If a longer journey is necessary, the operator must notify the club and the details recorded by the club in the official minutes or 'Day Book'.

Historic vehicles must display conditional registration number plates and a current registration label.
1950s Ford Thunderbird

NSW historic vehicles may be used temporarily in other States and Territories, under the same conditions as apply in NSW

Historic vehicles under the HVS may be operated on roads and road-related areas only under the following conditions:
  • Registered operator must be a member of an authorised motoring club
  • Use only in conjunction with an authorised club event or maintenance
The name of the vehicle owner's club is also recorded as a special condition. If the registered owner belongs to more than one club, the name of the primary club or other clubs may be recorded as a special condition as requested.

For more information, visit the RMS HVS website.

Historic [or Limited Use] Vehicle Insurance

It's not only on the yearly registration fee where you can save money. If you seldom use your vehicle or used only during car club activities and events, then you could be eligible for the Vintage, Veteran and Classic vehicle or Limited insurance.

Most insurance companies offer lower yearly premiums and better conditions under these insurance plans.

To use as examples in this blog, I've contacted the NRMA and Shannons. Both offer various insurance options for your vehicle.  But to my surprise, there are options for your pride and joy even it's a brand new vehicle.

In the case of NRMA, you can insure your vehicle under their 'Classic Insurance' plan if the vehicle is 15 years or older.

With Shannons, they offer three options, two of which do not have any vehicle age minimum requirements.

I used my 1994 Mazda MX-5 Clubman as the vehicle in this exercise.

Mazda MX-5 [NA]
Date: May 2016
Vehicle: 1994 MX-5 Clubman with factory hard top
Condition: Very good condition and stock (apart for a fire extinguisher and front strut tower bar)
Garage @: NSW Central Coast
Insurance Rating: Maximum No-Claim Bonus
Here are the result of from both insurance companies. One of them might just suit your needs.

Examples of Classic & Vintage Insurance Plans

As shown on the table above, other than the 'Historic' plan from Shannons, and to a certain extent the NRMA’s 'Classic' plan, the 'Limited' and 'Extreme Limited' can be considered as insurance options for any car regardless of age.

Sources: RMS, NRMA & Shannons