Insurance Opinions Wanted

[AndyGarton]

Hi guys, minor insurance dilemma: for my renewal on my integrale insurance I have the choice to make between Aviva and Hagerty (who I already use for my 1978 Escort). Aviva allow 5k miles, premium is 400 quid. Hagerty limit to 3k, premium is 500, but they offer an agreed value option.

Main dilemma is this - 3k miles is going to be tight, I suspect ideally I'd do a little bit more than this, but probably could deal with 3k at a push. Agreed value is appealing, because my car is in excellent top-of-the-market condition and I'll be keeping it that way - I can't help feeling that if the worst happens and I had to make a claim I'd end up losing at least 5k on what it's really worth when Aviva decide the "market value".

The 100 quid premium difference is not a major factor, but nevertheless isn't to be sniffed at

Thoughts appreciated, I can't quite make up my mind!

[Tyre Tread]

Have you spoken To Hagerty and asked what it would cost to increase your annual mileage allowance?

The beauty of dealing with Hagerty is that you speak to really knowldgeable and helpful people.

[benjj]

Both quotes sound amazingly expensive (unless you're very young or live in Brixton)...

By way of comparison I use Norton/Heritage and have had the following:

Citroen DS rally car, 6000 miles, garaged, 3 drivers, £35k guaranteed value, EU breakdown - £135 per year

Porsche 944 prototype rally car, all as above, competition use, guaranteed value of £11k, £160 per year

BMW E12 M535i, all as above, guaranteed value of £15k, £140 per year

I'm late 30's lots of points on my licence, drive everywhere like a getaway driver etc etc etc.

[nta16]

yeap I'd try for all three - higher (or possibly no limit at no extra charge) mileage, agreed valuation and a lower premium

don't use web quotes, don't email or send texts - talk to the people as you'll often be offered more options by talking to them

try Peter James Insurance (co-founder of Footman James)

don't click on the quote links on this page but scroll to the bottom and fill in the boxes for 'Call Me and give me a quote'(note, 'Available 9am-5pm Monday to Friday') and they'll phone you or you phone them if more convenient - http://quotes.peterjamesinsurance.co.uk/Quote/Quic...

let us know how you get on (most poster don't which is impolite at least)

[AndyGarton]

Thanks for the replies so far guys. I use a broker who I've been happy with for years, so won't be contacting companies directly. I will ask him to get quotes from the companies listed above though, as well as pass on the comments about mileage limits and unexpectedly high (!) premiums. I'm 44 with a clean license and full no claims; possibly my address (Herts) and job area (computer games) are negative factors, although I must admit I didn't see 4-500 quid as unreasonable for a relatively high value car (which has potentially high repair costs too), through reputable companies with known quality service and policy features.

Reading between the lines of the responses above though - it seems as though having the agreed value element is seen as very important for a great condition classic car? Nobody has mentioned Aviva as a good option, despite the lower premium and higher mileage limit.

[nta16]

Andy I can't see your broker getting far with dealing with a broker like PJI, that was suggested for your direct contact

having a limit of 3k-miles rather also limits the potential enjoyment of the car, I've been out on many sunny and dry drives over this winter and last (the worst for decades) winter and all previous winters, which of course increases the mileage and enjoyment (that many owners don't even consider who think all winter days have salt, snow or rain)

a lower premium can be very costly if the cover isn't as good as can a higher premium with some protection missing

I had a new for old policy for car under 12 moths old on the most expensive I've ever bought (couldn't afford it at half price now) and good job I did as I wrote it off after 3 months yet could afford to replace it with new that was the only serious accident I've been involved in in 35 years of driving

Edited by nta16 on Friday 14th February 18:54

Edited by nta16 on Friday 14th February 18:55

[arguti]

Another product I only recently discovered through A plan (although this was on a modern car) is they offered a booster product for around £40 which in effect pays you out an extra 25% on what ever amount your insurer offers you in event of a total loss claim- assume this does not operate with agreed values.

On another note, I just got a quote or two for some classic alfas and it does appear one has to shop a bit more around as the premiums are double from last year's.

[nta16]

arguti said:

On another note, I just got a quote or two for some classic alfas and it does appear one has to shop a bit more around as the premiums are double from last year's.

interesting the premiums were even less for this year's cover for mine and other MG owners through PJI than the previous year

[Mr Ian]

Hi Andy
I have used Lancaster for mine for the last three years, Classic Policy, agreed valuation etc.
3,000 miles on the first year went very quickly, rang and asked for another 1,500 to be added and was charged £15 admin fee, thought that was reasonable.
At renewal after the first year I asked for 6000 miles and was supprised to find it did'nt cost any extra.
I paid £205 Comprehensive this year, £400 excess,windscreen cover incl.
Even managed to put the boy on the policy for the last half of last year, they would'nt touch him until he was 25, paid pro rata for the period. This years renewal was £420 for the year with us both covered, have left him off for the winter to save some money.
Worth a phone call ?

Ian

[80quattro]

In the past, I have had my old beemers on classic policies, with limited mileage. I'm now with Flux with a 'normal' policy, no mileage limitation, earning no claims, with full breakdown cover for £140 per year on my M535i. No brainer.

[nta16]

unlimited mileage can often be a no cost option so as said ASK

not all "classic" (not that they really exist) policies have lots of restrictions and exclude other benefits

you can't compare different people's policies because of personal circumstances but the "classic" policy I have includes UK & European Accident/Breakdown, legal protection, fully comprehensive, unlimited mileage, agreed value, ungaraged, only car - below £100

ETA: and my car is lightly modified

Edited by nta16 on Friday 21st February 16:14

[AndyGarton]

Just to finish this off - I went with Hagerty in the end, got it down to 400 quid (via a £450 excess mainly). Still limited to 3k miles, but this is something they can't move on for cars newer than 1990.

[nta16]

thanks for reporting back, most don't

bear in mind apart from the legal requirement you only really need the insurance when you have an accident and that's when the excess becomes suddenly really important, have legal cover to try to recover your excess if the accident isn't your fault

my wife had a policy on her modern car with £500 excess, the next year she got a policy with zero £50 excess (I was wrong with zero) which was good because she had an accident that was her fault (surprisingly her car with plenty of damage wasn't written off but the LR Disco she hit was!)

ETA - she had next year's renewal just through and it's only £5 more than this year's despite her claim this year

Edited by nta16 on Monday 17th February 19:33

[lowdrag]

AndyGarton said:

Just to finish this off - I went with Hagerty in the end, got it down to 400 quid (via a £450 excess mainly). Still limited to 3k miles, but this is something they can't move on for cars newer than 1990.

Strange that. Lockton's insured my Mercedes 202 estate yr 2000 as a classic with a 10,000 mile limit - and it wasn't dear either. Adrian Flux do the same too.

[Riley Blue]

I've just bought a '95 E320 Coupe and phoned my existing broker, Peter S Taylor this morning for a quote based on a £5000 agreed value and 5,000 miles. They phoned back saying 3,000 miles would be £152 and 5,000 miles would cost £222, each with a £250 excess. I'm going with the 5,000 mile quote which suits me even though I might save a few pounds after spending a morning phoning around.

[AndyGarton]

A related followup question please guys - I'm considering purchasing a Mk 2 Escort, but it's fairly heavily modified for track day use (although still fully road legal): Honda S2000 engine, roll cage, upgraded suspension and brakes etc. I've tried both Hagerty and Heritage, and both said "no chance". I was surprised to hear this from Heritage especially, in view of the examples listed above.

Any recommendations much appreciated - my broker has basically given up, so it's down to me to sort this if I go ahead.

Thanks in advance,
Andy

[nta16]

Andy,
my car is lightly modified and this presented no problem to PJI (not different engine though)

[lowdrag]

Different story, but again the engine in my Jaguar is far from standard and Lockton's know about it and just shrugged. Obviously the track excess is higher, but that comes with the risk. And they cover me for track days Europewide.

[healeyneil]

Try Classicline. When I asked them to insure a Lotus Eclat engined Sprite they didnt hesitate. It was about 5 years ago but premium was about £140. When they asked what was modified, I said it might be easier to say what wasnt !