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ahaughton
Original Poster
606 posts
96 months
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Just renewed the Diablo insurance through Admiral for £380.00! The closest quote was also from an Admiral company (Bell) at around £600 but they had some crazy notion of fitting a telemetric device to the Car (safe driver scheme) which automatically voided the Insurance at > 100MPH...
They crushed the price by me changing to a Multi-Car policy (Renault Scenic down by 20% and Audi TTS by 45% on last years prices).
Approx £700 total for annual cover on all 3 :-)
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andrew
5,672 posts
61 months
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will they allow you to use your choice of garage for repairs ?
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ahaughton
Original Poster
606 posts
96 months
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andrew said: will they allow you to use your choice of garage for repairs ? Yep. I think the only issue is they dont give you a loan car if you choose one not on their 'preferred list'.
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ahaughton
Original Poster
606 posts
96 months
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ahaughton said: andrew said: will they allow you to use your choice of garage for repairs ? Yep. I think the only issue is they dont give you a loan car if you choose one not on their 'preferred list'. I suspect you may have an issue with the 'Modifications' section as strapping the wing from a 747 onto the back of your car is probably not covered....
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ahaughton
Original Poster
606 posts
96 months
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andrew said: will they allow you to use your choice of garage for repairs ? I've checked the Policy and you can choose your own Garage but need to get two quotes and they don't guarantee a loan car during the repairs 'cos that appears to be a facility offered by their 'Approved Repair Centres'.
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otta
86 posts
10 months
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that's ridiculously cheap... I begin to wonder why am I paying 5k a year to insure 3 cars ahaughton said: Just renewed the Diablo insurance through Admiral for £380.00! The closest quote was also from an Admiral company (Bell) at around £600 but they had some crazy notion of fitting a telemetric device to the Car (safe driver scheme) which automatically voided the Insurance at > 100MPH...
They crushed the price by me changing to a Multi-Car policy (Renault Scenic down by 20% and Audi TTS by 45% on last years prices).
Approx £700 total for annual cover on all 3 :-)
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maser_spyder
5,603 posts
51 months
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I use them too. About £1500 for Lambo, Maser, Landcruiser, SLK all bundled together. Good deal I thought.
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P101
812 posts
27 months
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You get what you pay for. I'd hate to have to deal with Admiral if my car was written off. I have an agreed payout if the worst were to happen. I'd rather pay the extra for peace of mind.
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otta
86 posts
10 months
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P101 said: You get what you pay for. I'd hate to have to deal with Admiral if my car was written off. I have an agreed payout if the worst were to happen. I'd rather pay the extra for peace of mind. that is what I would think as well but the price differential seems to be really substantial vis-a-vis a "classic" agreed value policy, if repairs can be done at a garage of your choice with new factory spec components (and not recycled ones) then there is only a degree of uncertainty in a total loss, but I guess they would come to their sense for most but the most illiquid/rarest cars (e.g. miura, stratos and classics in general)....
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SirMark
498 posts
58 months
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I'm also Admiral LP640roadster, DB9 and RR Sport £1,700.00 all in and have dealt with a previous problem just as good as I could have expected from anyone else.
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ahaughton
Original Poster
606 posts
96 months
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SirMark said: I'm also Admiral LP640roadster, DB9 and RR Sport £1,700.00 all in and have dealt with a previous problem just as good as I could have expected from anyone else. That seems on a par given the relative costs of my 'stable'.
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sa_20v
3,558 posts
100 months
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We're paying £2k with the Superleggera and barge on there - cheapest by far given drivers' ages (then 29, 31).
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Camlet
306 posts
18 months
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otta said: P101 said: You get what you pay for. I'd hate to have to deal with Admiral if my car was written off. I have an agreed payout if the worst were to happen. I'd rather pay the extra for peace of mind. that is what I would think as well but the price differential seems to be really substantial vis-a-vis a "classic" agreed value policy, if repairs can be done at a garage of your choice with new factory spec components (and not recycled ones) then there is only a degree of uncertainty in a total loss, but I guess they would come to their sense for most but the most illiquid/rarest cars (e.g. miura, stratos and classics in general).... The lower the price, the higher the risk of non payment and/or serious complications. I know one major insurer who pay their lawyers based on performance - the higher number of rejected claims, the higher the fee. I see no benefit of running very expensive cars and buying suspect insurance. Good luck.
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otta
86 posts
10 months
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Camlet said: The lower the price, the higher the risk of non payment and/or serious complications. I know one major insurer who pay their lawyers based on performance - the higher number of rejected claims, the higher the fee. I see no benefit of running very expensive cars and buying suspect insurance. Good luck. totally agree, in fact I am with Chubb with all bells and whistles... price differential though is really staggering and to me doesn't make much financial sense, unless the cheaper ones systematically do not pay claims (or pay a 1/3 of them), which doesn't seem to be the case.
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andrew
5,672 posts
61 months
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ahaughton said: ahaughton said: andrew said: will they allow you to use your choice of garage for repairs ? Yep. I think the only issue is they dont give you a loan car if you choose one not on their 'preferred list'. I suspect you may have an issue with the 'Modifications' section as strapping the wing from a 747 onto the back of your car is probably not covered.... just tried it "747 parts" not listed "picnic tray" not listed "exterior decorative changes" no extra charge "spoiler-rear" no extra charge  "bull bars" £50 extra  unfortunately, they're still more expensive than i pay at the moment, possibly because they still list my car as a murcielago
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ahaughton
Original Poster
606 posts
96 months
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otta said: totally agree, in fact I am with Chubb with all bells and whistles... price differential though is really staggering and to me doesn't make much financial sense, unless the cheaper ones systematically do not pay claims (or pay a 1/3 of them), which doesn't seem to be the case. I'm giving Chubb a call as well - you make a damned fine point. Whilst Admiral do state 'value at current market rate', if they ask the average 10 year old how much it's worth I'll probably get £50.00....
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Colossus
245 posts
83 months
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I really don't understand the doubters. Admiral are as well financed as any of the main insurance companies and have a contractual obligation to pay out if there is a loss. If the worst were to happen and I needed to make a claim then I would rather have saved a huge amount of money over the years and have the arguement over value and/or costs until it is resolved to my satisfaction, but would be suprised if it ever really got that bad. Experience of others with different insurers does not guarantee an automatically agreed value or claim so can't really see the downside.
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otta
86 posts
10 months
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don't think it is really a matter of solvency btw Admiral and premium insurance.
If the premium they charge in smaller by a factor of 2-3 than "premium" insurance and they manage to get a relatively similar "pool" of individuals then something has to give. Either they manage systematically on average to pay out less or the "premium" insurance charge a disproportionate amount of money...
not sure which is which...
Of course not as simple as that, one might argue that they are more efficient in keeping low fixed costs, they manage to select risks more accurately (even though I doubt the most conservative drivers would go for the cheaper / less "certain" insurance cover).
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bigricho
162 posts
22 months
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P101 said: You get what you pay for. I'd hate to have to deal with Admiral if my car was written off. This has recently happened to me. I am with Admiral, I wrote off my SL55. I found the process to be smooth and easy. I ended up getting what I paid for the car (as it had appreciated slightly since I bought it, even after doing a good deal of miles).
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jtremlett
282 posts
91 months
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otta said: don't think it is really a matter of solvency btw Admiral and premium insurance... There are all sorts of factors that go into calculating an insurance premium including your perceived risk, their claims history, how they do the underwriting, how good they are at weeding out fraudulent claims, how long you've been a customer, how much business they underwrite, how good their investments are (i.e. the money they're making from investing the premium income), how efficient they are etc. A higher premium certainly does not mean an insurer will be more likely to pay any claim you may have. It may just mean they think you're likely to pay it and thus they'll make more money out of you. Jonathan
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