Insuring a budget classic
Discussion
Hi all I've got a plan.
In my current fleet are an RS4S S2 Stagea and an R-Limited MX5. Neither of which are really suitable daily drivers. I fancy a K10 Micra to bimble about in and have as a fun cheap project. I've got a member of a local car club willing to sell me his cheaply as he hasn't got space for it and wants to see what I will do with it. So I can pick it up for sub £500. The problem I'm having is inuring it all the quotes are currently coming back higher than the cost to insure the Stagea. I'm hoping for closer prices to the MX5 which costs me £280 a year to insure. Does anyone have any tips on getting the price down?
In my current fleet are an RS4S S2 Stagea and an R-Limited MX5. Neither of which are really suitable daily drivers. I fancy a K10 Micra to bimble about in and have as a fun cheap project. I've got a member of a local car club willing to sell me his cheaply as he hasn't got space for it and wants to see what I will do with it. So I can pick it up for sub £500. The problem I'm having is inuring it all the quotes are currently coming back higher than the cost to insure the Stagea. I'm hoping for closer prices to the MX5 which costs me £280 a year to insure. Does anyone have any tips on getting the price down?
I think your problem is that you are trying to insure a city car favoured by learners and novices so will be subject to more claims than something more likely to be used by enthusiasts.
Plus, anything daily driven will have a certain amount built into the premium to cover the 3rd Party risk no matter what car it is (all my premiums over the last 10-15 years (since I've been old enough for age not to be a factor) have been roughly the same no matter what the car value or insurance group is).
Do you have a wife/husband/partner/etc you can add to the policy? That often helps.
Plus, anything daily driven will have a certain amount built into the premium to cover the 3rd Party risk no matter what car it is (all my premiums over the last 10-15 years (since I've been old enough for age not to be a factor) have been roughly the same no matter what the car value or insurance group is).
Do you have a wife/husband/partner/etc you can add to the policy? That often helps.
Truckosaurus said:
I think your problem is that you are trying to insure a city car favoured by learners and novices so will be subject to more claims than something more likely to be used by enthusiasts.
Plus, anything daily driven will have a certain amount built into the premium to cover the 3rd Party risk no matter what car it is (all my premiums over the last 10-15 years (since I've been old enough for age not to be a factor) have been roughly the same no matter what the car value or insurance group is).
Do you have a wife/husband/partner/etc you can add to the policy? That often helps.
I was hoping the K10 had reached the cheap classic stage that the MX5 was at when i bought that for £500. I'm going to see if there's any way to add it to the Stagea policy. I'm just about to buy a house then the girlfriend will potentially be driving it but shes only 25 and looking to put her on the other cars only increased the cost. Plus, anything daily driven will have a certain amount built into the premium to cover the 3rd Party risk no matter what car it is (all my premiums over the last 10-15 years (since I've been old enough for age not to be a factor) have been roughly the same no matter what the car value or insurance group is).
Do you have a wife/husband/partner/etc you can add to the policy? That often helps.
TPFT or FC? If the former, try the latter. Might actually be cheaper. Don't bother trying to insure as a classic - you've got no hope at sensible prices and if it was written off you could buy another for buttons. If you want your young-ish Mrs to be on it as a learner there's even less chance of a sensible classic quote.
Might be a daft suggestion, but it might be so cheap in value terms that it's pushing the premium up because the 3rd party risk is that bit higher (i.e. you'll treat it like the shed it might be and not pay as much attention when driving it!) - back in the day a school friend had a 325i convertible and it cost less to insure than the Mk2 Cortina I was tooling about in.....
Might be a daft suggestion, but it might be so cheap in value terms that it's pushing the premium up because the 3rd party risk is that bit higher (i.e. you'll treat it like the shed it might be and not pay as much attention when driving it!) - back in the day a school friend had a 325i convertible and it cost less to insure than the Mk2 Cortina I was tooling about in.....
Adrian E said:
TPFT or FC? If the former, try the latter. Might actually be cheaper. Don't bother trying to insure as a classic - you've got no hope at sensible prices and if it was written off you could buy another for buttons. If you want your young-ish Mrs to be on it as a learner there's even less chance of a sensible classic quote.
Might be a daft suggestion, but it might be so cheap in value terms that it's pushing the premium up because the 3rd party risk is that bit higher (i.e. you'll treat it like the shed it might be and not pay as much attention when driving it!) - back in the day a school friend had a 325i convertible and it cost less to insure than the Mk2 Cortina I was tooling about in.....
It's turned out after a long chat with one of my insurance guys it was the value of the car that was pushing it up. As much as I had an interesting project planned for the little k10, I think its going to be some sort of German diesel for daily duties now, my sales job looks like its going to include a lot more site visits this year and I'd rather mileage allowance cover more than just fuel.Might be a daft suggestion, but it might be so cheap in value terms that it's pushing the premium up because the 3rd party risk is that bit higher (i.e. you'll treat it like the shed it might be and not pay as much attention when driving it!) - back in the day a school friend had a 325i convertible and it cost less to insure than the Mk2 Cortina I was tooling about in.....
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