GT4 insurance

[jackwood]

Taffy66 said:

I have a few cars insured with NFU which include one which does actually do 0-60 in sub 3 sec(Ferrari 812). Its a group policy so the Insurance premium Tax is billed as a whole policy charge so the figures exclude this tax. The 812 with a replacement value of £250k costs me £957ex IPT which makes a mockery of the quote you received. This was only last November.

Very interesting!

I changed my policy from Carrera T to GT4 3 weeks ago. I got a pro rate rebate at time of swap (T was sub £600pa premium, so I was happy with reduction for GT4).

2 weeks later received renewal quote for end of March and GT4 had gone up to £2800 premium as part of my 3 car multicar policy.

Obviously questioned this. After a day of the NFU contact going off and asking questions, the info came back:

1) when I swapped cars, the premium for GT4 was calculated on 2021 pricing as that was when my current policy was taken out.
2) as of Jan 22 premiums had been recalculated and my renewal was based on those prices.
3) between 21 and 22, GT4 had been re-classified from group SR to group SS, hence the massive hike in premium.

I have asked twice for them to look into the classification of the GT4 and the people I have spoken to have said that it is what it is. They had raised this all the way to head office and there is nothing they can do.

Obviously I hope that you don’t see the same rise in your premium in November this year, and it’s just something I have to deal with. But may be worth to be prepared for.

[jackwood]

Just to add, I also have commercial vehicle and home insurance policies with NFU, so it isn’t like I am a new customer without history.

[SpyderMatt]

What’s group SR vs SS?

[Taffy66]

I replaced a Taycan 4s saloon with my new 4s Cross Turismo in January with both cars pretty much the exact value. I got a discount of £280 pro rata when I did the switch which was two months in to my annual renewal date in November. This translates to my new CT being cheaper to the tune of £326 for the full year compared to my previous one.

[LiamH66]

jackwood said:

Very interesting!

I changed my policy from Carrera T to GT4 3 weeks ago. I got a pro rate rebate at time of swap (T was sub £600pa premium, so I was happy with reduction for GT4).

2 weeks later received renewal quote for end of March and GT4 had gone up to £2800 premium as part of my 3 car multicar policy.

I was with NFU for my GT4 in 2018 and 2019. Really competitive, about £700. Then last October the premium more than doubled from the previous year, and when I called NFU they just said that's how much it is, and they expected to lose my custom.

I have a few other vehicles with Direct Line, who had not been interested in insuring the GT4 when I bought it unless I fitted a tracker. They were able to insure for a reasonable price without my fitting a tracker.

Can't really make sense of the insurance world...

Liam

[neilf]

My renewal just in from LV.

Reduced from £795 to £735.

I’m late forties, clean licence, no points, full NCD, with tracker 10,000 miles pa.

[Olderandwiser22]

My LV quote last year was £246.00 but having received 3 points in January it jumped to £320.00 protected.

I am absolutely disgusted at how careless I was getting points.

Edited by Olderandwiser22 on Friday 18th March 20:00

[RichieRichie]

Did anyone else have trouble getting insured due to the Clubsport option? Admiral wouldn’t let me add it onto my multi car policy due to the roll cage.

[jackwood]

Did you declare it as a modification? Or did they know it was CS spec when you called to add it?

Mine is CS and nobody has asked about a cage or mentioned a cage in any of my calls.

[RichieRichie]

jackwood said:

Did you declare it as a modification? Or did they know it was CS spec when you called to add it?

Mine is CS and nobody has asked about a cage or mentioned a cage in any of my calls.

I would check as they now ask about modifications including factory fitted options and your supposed to list them all. Who are you insured with?

[Twinfan]

RichieRichie said:

I would check as they now ask about modifications including factory fitted options and your supposed to list them all. Who are you insured with?

Yep, that's an Admiral group thing. You have to list every factory fitted option over and above the standard spec, which on a Porsche is a big list.

Not worth the bother IMHO, go elsewhere.

[jackwood]

Just wanted to update this thread.

After moving my then GT4 off NFU policy due to massive premium hike, I sold my GT4 back to OPC due to new GT4 allocation and picked up a base Cayman as an interim runaround.

I put that car back on with NFU and cancelled the GT4 policy with the other insurer.

I collected my new GT4 on Thursday this week. I called NFU to get a quote for changing the policy from the base Cayman to the GT4, just to see if their underwriters had seen sense.

Indeed, there was a zero cost to change from the circa £50k base Cayman to the £100+k GT4.

Normality seems to have returned to NFU.

Jack

[breadvan]

I don’t list factory options when declaring modifications. So I wouldn’t tell my insurer if was a CS or not. Am I getting it wrong?

[Twinfan]

breadvan said:

I don’t list factory options when declaring modifications. So I wouldn’t tell my insurer if was a CS or not. Am I getting it wrong?

It depends on the insurer, you'd need to check the small print.

Some class any option, including those factory fitted, as "modifications".

[bigmowley]

jackwood said:

Just wanted to update this thread.

After moving my then GT4 off NFU policy due to massive premium hike, I sold my GT4 back to OPC due to new GT4 allocation and picked up a base Cayman as an interim runaround.

I put that car back on with NFU and cancelled the GT4 policy with the other insurer.

I collected my new GT4 on Thursday this week. I called NFU to get a quote for changing the policy from the base Cayman to the GT4, just to see if their underwriters had seen sense.

Indeed, there was a zero cost to change from the circa £50k base Cayman to the £100+k GT4.

Normality seems to have returned to NFU.

Jack

I have just added a GT4 to my NFU insured car fleet. The quote was very good, as ever, about £375 a year for 4 named drivers. However I now have to have the tracker activated otherwise the car is not covered for theft whilst in the UK. This is an absolute PITA and adds about £275 a year to the cost of ownership. However I just could not get it insured for any less anywhere else so NFU and chunky fob it is then.

[scrounger73]

Im on the hunt for insurance as I'm expecting my policy to almost double on the 718 GTS

49, full NCB, no points. Phoned Classic line and they want £1085 with me adding virtually every restriction bar a ground anchor and they were a bit dubious about me asking for 7500 miles a year. However the car is valued at £5k more than I paid for it a year ago.

Best quote so far is £675 with esure and £894 with Admiral. I paid £560 with Admiral last year, all factory options declared and mileage set at 9k.

Direct line wont insure the car neither will Churchill even with the tracker.

Edited by scrounger73 on Saturday 18th February 17:06

[Twinfan]

Hmmm, here's hoping Lockton haven't gone mental over the last 2 months or I'm going to up a certain creek without an instrument for momentum.

No garage and a roll cage really aren't a great combination when trying to get insurance!

[scrounger73]

Good luck Dave.

Fingers crossed for you.

[jackwood]

bigmowley said:

I have just added a GT4 to my NFU insured car fleet. The quote was very good, as ever, about £375 a year for 4 named drivers. However I now have to have the tracker activated otherwise the car is not covered for theft whilst in the UK. This is an absolute PITA and adds about £275 a year to the cost of ownership. However I just could not get it insured for any less anywhere else so NFU and chunky fob it is then.

Yes that was a requirement for me too. But I’ve had that on other policies too, and my list price is over £100k, so wasn’t too surprised.

[Taffy66]

scrounger73 said:

Im on the hunt for insurance as I'm expecting my policy to almost double on the 718 GTS

49, full NCB, no points. Phoned Classic line and they want £1085 with me adding virtually every restriction bar a ground anchor and they were a bit dubious about me asking for 7500 miles a year. However the car is valued at £5k more than I paid for it a year ago.

Best quote so far is £675 with esure and £894 with Admiral. I paid £560 with Admiral last year, all factory options declared and mileage set at 9k.

Direct line wont insure the car neither will Churchill even with the tracker.

Edited by scrounger73 on Saturday 18th February 17:06

Just had a renewal quote from ClassicLine for my 718GT4 Clubsport valued at £98k for £835. Not the cheapest but the best for track day cove in my experience.