Insurance time again! - Equity Red star
Discussion
Its that time of year when I have to stick my hand in my pocket and cough up for insurance. Used MSM for the last few years who have been very good but I have had a quote from an alternative Broker who uses Equity Red Star as the policy underwriter.
Does anybody have a policy with them and what are they like. I was quite surprised the quote came in cheaper, I have double checked it to make sure I am comparing apples with apples (agreed value, XS etc) and it all adds up. ClassicLine was the broker so they know their TVR's
Shep
Does anybody have a policy with them and what are they like. I was quite surprised the quote came in cheaper, I have double checked it to make sure I am comparing apples with apples (agreed value, XS etc) and it all adds up. ClassicLine was the broker so they know their TVR's
Shep
Edited by shep1001 on Monday 10th August 12:21
To draw this to a conclusion, I decided to go with MSM again this year. Their price ended up being as near as makes no difference the same as that quoted by ClassicLine but I have been with them for several years and both Dawn (MSM) & KGM who underwrite the policy I have are so easy to deal with.
Regarding Equity Red Star, if you are considering insuring with them or the broker you use sells their policies, I suggest you put their name into a search engine and read some of their customers feedback. They are very aggressive on price but the thing with insurance is you only discover how competent they are when you need to claim.
Shep
Sound point re feedback.
I have mine insured with Equity Red Star via Classicline, as i want track day cover and unlimited mileage (well, 10,000 miles pa). I find Classicline wonderfully easy to deal with, answer the phone within a few seconds, quick responses, etc etc. But I have never had to claim.
I have mine insured with Equity Red Star via Classicline, as i want track day cover and unlimited mileage (well, 10,000 miles pa). I find Classicline wonderfully easy to deal with, answer the phone within a few seconds, quick responses, etc etc. But I have never had to claim.
QBee said:
Sound point re feedback.
I have mine insured with Equity Red Star via Classicline, as i want track day cover and unlimited mileage (well, 10,000 miles pa). I find Classicline wonderfully easy to deal with, answer the phone within a few seconds, quick responses, etc etc. But I have never had to claim.
Be careful as I have found out that not all track days are covered by Equity Red Star (Classic Lines). They have refused to cover the recent Asda Charity track day at Bruntingthorpe, and also a Sprint and Track Day at Curborough, asking for an additional £53 per event. Compared to just over £200 for the annual policy including track day cover, I think it is a lot for single day. They have previously covered both without any additional costs, but now say that as they are not run by ATDO members, the events are not covered under their inclusive track day cover. Although not entirely happy with the final outcome, ClassicLines have been easy to deal with.I have mine insured with Equity Red Star via Classicline, as i want track day cover and unlimited mileage (well, 10,000 miles pa). I find Classicline wonderfully easy to deal with, answer the phone within a few seconds, quick responses, etc etc. But I have never had to claim.
For serial track-dayers like me, I have to point out that Classicline/ERS cover the first six track days each year within the annual premium, after that you are paying £53 a track day (as I am).
Soooo, for 24 August at Cadwell Park, I now have to weigh up the risk of crashing the car myself, or getting crashed into, versus the wallet damage caused by the premium.
Open pit lane, 15 corners per lap, downhill grassy run-offs, armco, tyre walls, numpties in Scoobies........ No, its a no brainer, wallet damage is still the sensible course of action.
Soooo, for 24 August at Cadwell Park, I now have to weigh up the risk of crashing the car myself, or getting crashed into, versus the wallet damage caused by the premium.
Open pit lane, 15 corners per lap, downhill grassy run-offs, armco, tyre walls, numpties in Scoobies........ No, its a no brainer, wallet damage is still the sensible course of action.
The point being, that the track days have to be ATDO backed events, or run entirely by the TVR car club and for the car club only to count towards your free 6 events. This was the first two days I have asked about this year, and although not covered as part of the policy, they seem happy enough to cover them for a standard event fee which seems a little odd.
shep1001 said:
Its that time of year when I have to stick my hand in my pocket and cough up for insurance. Used MSM for the last few years who have been very good but I have had a quote from an alternative Broker who uses Equity Red Star as the policy underwriter.
Does anybody have a policy with them and what are they like. I was quite surprised the quote came in cheaper, I have double checked it to make sure I am comparing apples with apples (agreed value, XS etc) and it all adds up. ClassicLine was the broker so they know their TVR's
Shep
I made that very switch from MSM to Classicline on an Equity Red Star policy.Does anybody have a policy with them and what are they like. I was quite surprised the quote came in cheaper, I have double checked it to make sure I am comparing apples with apples (agreed value, XS etc) and it all adds up. ClassicLine was the broker so they know their TVR's
Shep
Edited by shep1001 on Monday 10th August 12:21
I didn't want to move from MSM as they've been an excellent broker for me, but the deal from Classicline was too good to pass up.
I then found that website with all the bad Equity Red Star reviews, so I put a post on these pages and a Griffith owner came on to tell the other side of the story.
He's made a claim with Equity Red Star and couldn't say enough good words about them, I surmised two things from this...
1. People only ever bother to go on an insurance review site to make comments when things didn't go their way
2. All the people making negative Equity Red Star comments were drivers of everyday cars not classics or TVRs
Those two points combined with the positive comments from that Griffith owner put my mind at rest, of course you never really know until you make a claim, and everyone hopes they'll never make a claim.
But on the face of it and the fact we haven't got hoards of TVR drivers complaining about Equity Red Star on these pages you should be alright with them.
Lets face it if there were Equity Red Star issues amongst the TVR community we'd hear about it, and Classic line needs Equity Red Star to be an honest underwriter or their specialist TVR broker business wouldn't last that long.
Take the great deal from Classic line and enjoy
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