What to do after maxing out insurance mileage?
Discussion
Hi all,
Just wanted to know if anyone here has gone through their insurance limited mileage policy quicker than expected? I took out a 5,000 mile Locktons policy, quickly extended (for £200 odd) to 7,500 miles - which I am fast approaching (another 200 miles left). I only got the policy in Feb so not close to renewal yet.
Does it depend on the insurer? Last time Locktons told me that 10,000 mile policies were 'by referral' only - I'm not sure what this means but regardless, that's the maximum they do and I'm likely to do more than that even. Is it going to be as simple as renewing the annual policy very early or is something else going to be on the table?
Cheers,
James
Just wanted to know if anyone here has gone through their insurance limited mileage policy quicker than expected? I took out a 5,000 mile Locktons policy, quickly extended (for £200 odd) to 7,500 miles - which I am fast approaching (another 200 miles left). I only got the policy in Feb so not close to renewal yet.
Does it depend on the insurer? Last time Locktons told me that 10,000 mile policies were 'by referral' only - I'm not sure what this means but regardless, that's the maximum they do and I'm likely to do more than that even. Is it going to be as simple as renewing the annual policy very early or is something else going to be on the table?
Cheers,
James
Edited by jamesc12 on Friday 1st June 19:25
jamespconnor said:
Hi all,
Just wanted to know if anyone here has gone through their insurance limited mileage policy quicker than expected? I took out a 5,000 mile Locktons policy, quickly extended (for £200 odd) to 7,500 miles - which I am fast approaching (another 200 miles left). I only got the policy in Feb so not close to renewal yet.
Does it depend on the insurer? Last time Locktons told me that 10,000 mile policies were 'by referral' only - I'm not sure what this means but regardless, that's the maximum they do and I'm likely to do more than that even. Is it going to be as simple as renewing the annual policy very early or is something else going to be on the table?
Cheers,
James
I'm with Locktons - the policy suits me brillinatly but there's no doubt it's not for everyone, including those that need one for higher miles. It's because the premium is loaded more like a classic car policy that the mileage comes into playJust wanted to know if anyone here has gone through their insurance limited mileage policy quicker than expected? I took out a 5,000 mile Locktons policy, quickly extended (for £200 odd) to 7,500 miles - which I am fast approaching (another 200 miles left). I only got the policy in Feb so not close to renewal yet.
Does it depend on the insurer? Last time Locktons told me that 10,000 mile policies were 'by referral' only - I'm not sure what this means but regardless, that's the maximum they do and I'm likely to do more than that even. Is it going to be as simple as renewing the annual policy very early or is something else going to be on the table?
Cheers,
James
first year, I increased from 5 to 7.5 and then to 10. Second yr, I just took out a 10k policy. I believe they simply don't do more than 10k mile policies but I wasn't aware of there being any referral for increases to 10k
I'm not sure you can get round it by simply renewing early ? I do find however that most of my miles are easter thru til September and I then do very few the following 6 mths. I also found that whilst I still love the car, after the first yr, the novelty of using it for absolutely everything I could wore off so that's brought miles down a little. That's assumign it's a second car
jonby said:
I'm with Locktons - the policy suits me brillinatly but there's no doubt it's not for everyone, including those that need one for higher miles. It's because the premium is loaded more like a classic car policy that the mileage comes into play
first year, I increased from 5 to 7.5 and then to 10. Second yr, I just took out a 10k policy. I believe they simply don't do more than 10k mile policies but I wasn't aware of there being any referral for increases to 10k
I'm not sure you can get round it by simply renewing early ? I do find however that most of my miles are easter thru til September and I then do very few the following 6 mths. I also found that whilst I still love the car, after the first yr, the novelty of using it for absolutely everything I could wore off so that's brought miles down a little. That's assumign it's a second car
Thanks. I don't actually drive my car more than weekends (300 miles in the last month) but I had a massive 4,500 mile europe roadtrip followed by a 1,000 mile round trip to Amsterdam. I have a few more planned such as meeting some friends in Göteborg, Sweden at some point as well as Spa Grand Prix this September so I see myself really struggling to stay under 10,000 miles given my renewal is up in Feb 2013. She's there to be driven so I would hate to not be able to drive her to save on the miles...first year, I increased from 5 to 7.5 and then to 10. Second yr, I just took out a 10k policy. I believe they simply don't do more than 10k mile policies but I wasn't aware of there being any referral for increases to 10k
I'm not sure you can get round it by simply renewing early ? I do find however that most of my miles are easter thru til September and I then do very few the following 6 mths. I also found that whilst I still love the car, after the first yr, the novelty of using it for absolutely everything I could wore off so that's brought miles down a little. That's assumign it's a second car
James - obviously approach Locktons with your enquiry but I fear they may not be suitable for you under the Chubb Classic Car range. As Jonby intimates, it is this declared range that keeps the premiums down.
Chubb do however do a lot of other excellent policies (with or without Locktons) though I'm not sure how competitive.
I also suggest gooing on a search engine with your details and inputting, say, 18,000 miles pa to give you a flavour of costings. Indeed, it may be to one of these companies that your future path leads
Chubb do however do a lot of other excellent policies (with or without Locktons) though I'm not sure how competitive.
I also suggest gooing on a search engine with your details and inputting, say, 18,000 miles pa to give you a flavour of costings. Indeed, it may be to one of these companies that your future path leads
jonby said:
I'm not sure you can get round it by simply renewing early ?
Hmm, an interesting point... Worth an ask. ClassicLine refuse to give me more than 5k miles, though I know Pommehogster (also with them) is allowed 7500. I guess it's a matter for negotiation...I don't seem to use my Aston that much but when I do, it tends to emcompass several thousand miles through Europe or poncing round North Wales annoying Land Rover drivers. I intend to keep it down by using other stuff this summer and saving the poor Aston's legs.
Whether a little 1972 Alfa Spider will survive a week-long tour of the Loire and track laps at Classic Le Mans remains to be seen
As others have said, specialist insurers are able to keep the premiums down by offering limited mileage policies.
Covering less miles reduces the risk of course.
However if you keep doing road trips then you're going to consume your allowance very quickly. But you have to bear in mind that doing higher miles increases the risk of a claim, and will increase your premium as a result.
You're best off working out how many miles you're going to need for the rest of the year, then add 10 or 20% to that, then call your insurer to see what they can do. But you may find they won't cover you and the rest of the policy is cancelled, because the risk profile you present now is a bit different from that you presented at inception.
Best of luck, let us know how you get on.
Covering less miles reduces the risk of course.
However if you keep doing road trips then you're going to consume your allowance very quickly. But you have to bear in mind that doing higher miles increases the risk of a claim, and will increase your premium as a result.
You're best off working out how many miles you're going to need for the rest of the year, then add 10 or 20% to that, then call your insurer to see what they can do. But you may find they won't cover you and the rest of the policy is cancelled, because the risk profile you present now is a bit different from that you presented at inception.
Best of luck, let us know how you get on.
Haven't called them just yet but regarding a new policy: Obviously it's up to them whether they provide cover or not but I can't see how my risk profile is altered by cancelling one policy early and taking out a new one. I, too, am expecting that the novelty will wear a little thinner over the coming year and particularly over winter so perhaps a new policy now isn't such a bad thing.
Anyway, by already driving 7,000 miles claim free, surely my risk rating should go down?
Anyway, by already driving 7,000 miles claim free, surely my risk rating should go down?
I changed from CCI (who have been excellent) because they wanted to limit my mileage this time around - so I switched to DirectLine, which to be honest I regret. They offered me unlimited mileage but they were infuriating to deal with - they insisted on proof of factory alarm/immobilise which AM very kindly kept sending letter to verify the car had a thatcham approved device etc. but each time DirectLine seem to find some 'problem' meaning for some time it was not clear if the car was insured for theft.
I shall not be renewing with them next year - I'd rather pay a bit more to have a professional company to deal with.
I think the root of the problem was that DirectLine are great at insuring 'normal' cars but for something less ordinary it's best to go with a specialist - have you priced up the option of cancelling your current policy and taking out a fresh one with another provider - I would highly recommend CCI in Nottingham - very professional to deal with in my experience.
I shall not be renewing with them next year - I'd rather pay a bit more to have a professional company to deal with.
I think the root of the problem was that DirectLine are great at insuring 'normal' cars but for something less ordinary it's best to go with a specialist - have you priced up the option of cancelling your current policy and taking out a fresh one with another provider - I would highly recommend CCI in Nottingham - very professional to deal with in my experience.
I have an Admiral multi- car policy and when I bought the car, they just asked me how many miles I thought that I would travel. I just told them 8 k and they were fine. I got the impression that if had asked for 12 k that it would not be a problem.
I pay £2 k for a DB9, Brabas E320 estate, Jag XjJR and a 3.6 shogun .
They also do pay their claims, in my slightly careless experience!
I pay £2 k for a DB9, Brabas E320 estate, Jag XjJR and a 3.6 shogun .
They also do pay their claims, in my slightly careless experience!
Makes me feel guilty as mine is currently in danger of garage queen status due to workload!Gassing Station | Aston Martin | Top of Page | What's New | My Stuff