Fun & Games with Insurance brokers
Discussion
I know this topic is well documented but I though I would share my experiences from last week.
I called 13 Ins cos, mostly gleamed from the FOC mag. for a quote on my 360 spider that is arriving next week
and I was amazed at not only the diversity of quotes but the phone responses and questions I was asked...
There was 1 company that ceased trading, 3 companies would not quote!?.
2 would not quote due to value, 1 would not quote due to secure underground parking??? I explained that a thief needed to get through 2 sets of security gates to gain access to the carpark which is loaded with CCTV and there is a daytime porter in the block....hmmmm methinks this is safer than a personal garage....still no go there.
After day 1, worst quote was 8k,
from A Flux best was 4.4k
I was awaiting 5 quotes from other co's that had to "refer" me to the underwriters.
One company asked "Where I was getting the car from" not that it was any of their biz so I asked why, only to be met with "Who are you dealing with at the garage" The guy said he was "just interested" Yeah right!!
Day 2 and I called Cheam, who insured my previous F, a 355B. They came in at 5k
I called Tesco who were supposed to be the new aggressive "quoters" on the block, 4.3k
No response from the "refer to underwriter" co's
Day 3 and I was beginning to sweat, 2 of them came back and were above 5k, "its your age" whaaattt???
I'm 36 this year and Full NCB, guess you have to be 70 to get a quote from those guys.
BUT then it happened, the other 3 all called back within 10 mins, all had the same quote, all from the same underwriter, small world eh.
The quote was a very respectable 2450,with 1200 excess, only 300 quid more than my 355B from 3 yrs ago. I'm not sure I would underwrite me at that money.
I gave the business to Nowellandrichards.co.uk on a friends recommendation. Richard there was very helpful, very professional, always returned my calls punctually and not spivvy.
Two other things to note are some companies will mirror insurance from an outstanding policy,(very kind)whereas some will insist on transferring the NCB and some will insist that you have owned a performance car previously or at least had some experience in one!
I guess it just adds to the old saying, It really does pay to shop around!!
One last point, I was very happy to hear that trackday ins was INCLUDED
but my excess would be incresed to a whopping, mind bending 12k!!!
Roll on next Friday,
Manu, book me in for the week starting April 7th!!!!!!!
>>> Edited by jason360 on Wednesday 26th March 17:52
I called 13 Ins cos, mostly gleamed from the FOC mag. for a quote on my 360 spider that is arriving next week
and I was amazed at not only the diversity of quotes but the phone responses and questions I was asked... There was 1 company that ceased trading, 3 companies would not quote!?.
2 would not quote due to value, 1 would not quote due to secure underground parking??? I explained that a thief needed to get through 2 sets of security gates to gain access to the carpark which is loaded with CCTV and there is a daytime porter in the block....hmmmm methinks this is safer than a personal garage....still no go there.
After day 1, worst quote was 8k,
from A Flux best was 4.4k I was awaiting 5 quotes from other co's that had to "refer" me to the underwriters.
One company asked "Where I was getting the car from" not that it was any of their biz so I asked why, only to be met with "Who are you dealing with at the garage" The guy said he was "just interested" Yeah right!!
Day 2 and I called Cheam, who insured my previous F, a 355B. They came in at 5k
I called Tesco who were supposed to be the new aggressive "quoters" on the block, 4.3k
No response from the "refer to underwriter" co's
Day 3 and I was beginning to sweat, 2 of them came back and were above 5k, "its your age" whaaattt???
I'm 36 this year and Full NCB, guess you have to be 70 to get a quote from those guys.
BUT then it happened, the other 3 all called back within 10 mins, all had the same quote, all from the same underwriter, small world eh.
The quote was a very respectable 2450,with 1200 excess, only 300 quid more than my 355B from 3 yrs ago. I'm not sure I would underwrite me at that money.
I gave the business to Nowellandrichards.co.uk on a friends recommendation. Richard there was very helpful, very professional, always returned my calls punctually and not spivvy.
Two other things to note are some companies will mirror insurance from an outstanding policy,(very kind)whereas some will insist on transferring the NCB and some will insist that you have owned a performance car previously or at least had some experience in one!
I guess it just adds to the old saying, It really does pay to shop around!!
One last point, I was very happy to hear that trackday ins was INCLUDED
but my excess would be incresed to a whopping, mind bending 12k!!! Roll on next Friday,
Manu, book me in for the week starting April 7th!!!!!!!
>>> Edited by jason360 on Wednesday 26th March 17:52
Jason, glad to hear you got it sorted in the end. Your car will sound mad with the tubi! I can't believe I managed to get by so long without one, the reaction to the car is better now, as less people want to call you a tosser, but prefer just to listen to the car... had one guy follow me for ages and do a u turn with me on a dual carriageway, followed for ages and then u turned again.
I was thinking about insurance too, and last week or so I was bored so had a look at websites, got a quote from privilege for £2050, 25 with full NCB and no points or previous claims. I'll save over a grand from last years cost.
IIRC Privilege and Tesco use the same people, but it might be worth a quote though.
Look forward to hearing your car soon, and if it seems a little quiet, get it decatted!!
I was thinking about insurance too, and last week or so I was bored so had a look at websites, got a quote from privilege for £2050, 25 with full NCB and no points or previous claims. I'll save over a grand from last years cost.
IIRC Privilege and Tesco use the same people, but it might be worth a quote though.
Look forward to hearing your car soon, and if it seems a little quiet, get it decatted!!
Ninja
Cant go the decat route just yet,
But I'm guessing it will be like a drug, sooner of later you have to move onto the harder stuff!!!
BTW did u tell the ins co about your decat or not? I'm sure they would never notice but it would still be classed as a modification if some bright spark loss adjuster came to inspect after an accident????
That was a good quote, I think i'm getting loaded due to E London postcode!!!!
>> Edited by jason360 on Wednesday 26th March 18:26
Cant go the decat route just yet,
But I'm guessing it will be like a drug, sooner of later you have to move onto the harder stuff!!!
BTW did u tell the ins co about your decat or not? I'm sure they would never notice but it would still be classed as a modification if some bright spark loss adjuster came to inspect after an accident????
That was a good quote, I think i'm getting loaded due to E London postcode!!!!
>> Edited by jason360 on Wednesday 26th March 18:26
Tell me about it - I am getting mine requoted and bearing in mind it was £1600 last year....some muppets were coming back at 3-4k....after a few calls I started to lose the plot...'Why am I going to insure it at 3k when I am paying 1.6k now numbnuts ??'....anyhow same company as you came back to me for £1690...excellent....only on eproblem is that they will not insure me for the Cannonball...which is odd as it is by law NOT a road race unlike the Gumball....so I will ppoint out that it is a tour around europe and by definiton is included in the policy....
I was speaking to a 24 year old 575M owner in the USA the other day.. he was telling me that by law, insurance in the USA covers the CAR - not the driver -if you know what I mean - and hence ANYONE who drives the car with the owners permission is fully covered to drive it... He was paying around $5000 - so not a lot really.
He routinely lends the car to his 18 year old brother.... which is nice.
Yet to find someone who will break the £18,000 premium paid by my brothers friend with a 996 C2 at 17!
Edited to say... Jason- your Tubi is ready - just give me the date!
>> Edited by manu on Thursday 27th March 14:31
He routinely lends the car to his 18 year old brother.... which is nice.
Yet to find someone who will break the £18,000 premium paid by my brothers friend with a 996 C2 at 17!
Edited to say... Jason- your Tubi is ready - just give me the date!
>> Edited by manu on Thursday 27th March 14:31
There should be a law against insurance quote disparities 
I tried Nowell and Richards on my mildly tuned 3 series
They quoted me 2200 against 1900 quid on a normal E36 M3 Evo (I'm 29 BTW). I have used them before and they are excellent, but this wasn't very competitive...
I eventually found Liverpool Victoria could cover me for 587 quid a year - much more like it.
And to think I've got a tiny 4.0 V8 in my car? The cheek of it
But come on guys, where does that other 1500 quid go between the low quote and the high one? Maybe I should become a broker, ie I could quote ninja 2500 and he'd still be happy - especially because DomsterInsurance would insist on a Tubi...
I tried Nowell and Richards on my mildly tuned 3 series
They quoted me 2200 against 1900 quid on a normal E36 M3 Evo (I'm 29 BTW). I have used them before and they are excellent, but this wasn't very competitive... I eventually found Liverpool Victoria could cover me for 587 quid a year - much more like it.
And to think I've got a tiny 4.0 V8 in my car? The cheek of it
But come on guys, where does that other 1500 quid go between the low quote and the high one? Maybe I should become a broker, ie I could quote ninja 2500 and he'd still be happy - especially because DomsterInsurance would insist on a Tubi...
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