Another Insurance Question

[pauljmcnulty]

THB £500 isn't all that bad for fully comp on a Porsche? I pay about £200 for a limited-mileage policy, needing to prove another car for everyday use and no business cover, so I'd expect to pay at least double for a main-car policy. I'd not risk 3rd party on mine, it wouldn't be that much cheaper. Wouldn't you need to go through the hassle of claiming off the other driver if it was their fault, and you'll lose your no claims?

 

[Wigeon Incognito]

That doesn't sound too bad, and often third party is barely any less than fully comp. I pay just over £200 on limited miles, and have a saved quote for unlimited miles, business use, park on street etc for £650 that it'll be moving to soon with A-Plan but then again I am only 24 and have a slightly murky past.

 

[944psi]

It is that time of year again. []

Given that my S2 is probably not worth that much and the fact that my insurance renewal is just over £500 with a £400 compulsory excess, it got me thinking that an all singing all dancing comprehensive insurance may not be that economical.

Apart from the obvious, are there any other drawbacks to having third-party only insurance?

I have got some additional quotes but just don't seem to be able to reduce my premium. AON came in a little lower if I joined the club again and named my wife as a driver (even though she only has an automatic licence) albeit with a £500 compulsory excess.

I'm not a bad insurance risk (well, I would say that), i.e. full cleanish licence, full NCB, not a bad post code, white-collar occupation but just cannot unlock the sorts of renewal prices that get bandied about for cars in the same group.

Any ideas welcomed......

Phil

 

[rcsalmons]

Try Hagerty at Silverstone - they quoted me £148 fully comp 3k miles when the car (944T) was standard. They wont touch modded cars. Rich

 

[edh]

the really cheap prices all come via a classic policy - maybe that's the route? It does seem a bit steep though - not much less than mine with business & trackday cover on a modified turbo (6k miles) - from HIC who may be worth a try

 

[cuffn]

Phil If you haven't already try running a quote through confused.com I did it this year and ended up moving away from the AA to Performance Direct (performancedirect.co.uk) as the policy was more flexible. My quote was for approximately 10k miles a year with business cover and my wife as a named driver on an '89 2.7 Lux for £342 which I reckon is pretty good. Regards

 

[944psi]

Thanks for the input guys. I will follow up on HIC - I spoke to them when I first got my S2, but they wanted me to have more experience of driving such a powerful motor! I was musing more that the cost of the insurance plus the excess pitted against diminishing values meant that fully comp may not be that logical. But you are correct - the cost is probably not that much of a differential and the potential hassle factor if anything were to happen would be huuuge. From recollection, I thought that a lot of the classic policies required the car to be garaged. Since I am in the middle of converting mine, that is no longer an option. With my sensible hat on I can see that the premium is not that bad, but I will see if they(or HIC) could do anything just to bring it under the £500. Phil

 

[RSGulp]

ORIGINAL: rcsalmons Try Hagerty at Silverstone - they quoted me £148 fully comp 3k miles when the car (944T) was standard. They wont touch modded cars. Rich

My RS is modified and they are happy to insure it on a classic policy at a very competitive price - well worth a call to Hagerty.

 

[pauljmcnulty]

From recollection, I thought that a lot of the classic policies required the car to be garaged. Since I am in the middle of converting mine, that is no longer an option.

That's always been my problem. I've got a garage, but as it's full of work gear it's never going to contain a 944. I could have lied, but figured it's not worth the risk of the policy being declared void if I was caught and I have an old-fashioned sense of honesty! Classicline where the only company that would cover me un-garaged and at the £200 mark, but it is a classic-car low mileage policy.

 

[Diver944]

ORIGINAL: 944psi I will follow up on HIC - I spoke to them when I first got my S2, but they wanted me to have more experience of driving such a powerful motor!

I am guessing you must be lucky enough to be one of our more youthful owners [], that is the main contributor to higher insurance premiums. I'm in my early 40's and pay £530 for the Turbo with engine and all mods declared including track day cover on a Classic policy with high agreed value. The S2 is on a normal unlimited mileage Fully Comp policy with Performance Direct and costs £350. Having my wife on both policies drops the premium by a healthy percentage

 

[944psi]

ORIGINAL: Diver944 I am guessing you must be lucky enough to be one of our more youthful owners [], that is the main contributor to higher insurance premiums.

Youthful? Well maybe in some circles - approaching 36.

ORIGINAL: Diver944 I'm in my early 40's and pay £530 for the Turbo with engine and all mods declared including track day cover on a Classic policy with high agreed value. The S2 is on a normal unlimited mileage Fully Comp policy with Performance Direct and costs £350. Having my wife on both policies drops the premium by a healthy percentage

The adding of spouse to the policy seems bizarre; guess it must spread the loadings a bit. Any issues with Performance Direct? Apart from the strange phonecalls I have had from them, they seem professional enough. Phil

 

[rpjg_1975]

I'm 32. 3 points on licence. Just done my insurance with RH Specialist Insurance Division and it's £180.60 with 5000 miles limited on a 1986 944 Lux. Previously I was with swift cover and my renewal was £279. Maybe worth giving them a try? swiftcover.com or my new insurers is 01277 206911

 

[j4mou]

try aon, classic cover. i cant remember what miles you state, but if its over a certain amount and fully comp, they turn it into unlimited mileage, they do stipulate no business use etc, but mines not garaged, im 35 6 years ncb and a clean licence, lots of sports car experience though incl top marques, and I hold a pro licence, mines £138 fc with £100 excess. hth??

 

[zcacogp]

That does sound steep for those circumstances. 33, '89 S2, kept on the road in East London, only car, just paid £500 to renew. Talk to Henry at A-Plan Insurance (01635 874646) and see what he can do. Tell him Oli with the 944 strongly recommended him. Oli.

 

[944psi]

I must be missing something because AON cannot get close to my current renewal price (which incidentally is a £539, not £509 as previously reported) and the other places I have spoken too following the earlier discussions here, have not come back to me yet. I am insured through A-Plan at the moment - someone called me today from there to ask if I was likely to renew and to call them before I went elsewhere. I am not sure if mentioning Oli's name will get me a price reduction, but I'll give it a try! [] Perhaps it's not that scientific or I have my name on a black list somewhere. Phil Paranoid S2 Owner.

 

[zcacogp]

Haggle with APlan. My renewal was £610. This dropped to £540 when I mentioned I had been quoted £515 by Esure, and came down to £500 when I called back 4 days later (on the proviso that I purchased then and there, which is what I wanted to do anyway). There is ALWAYS latitude in the prices. Oli.

 

[944psi]

There is ALWAYS latitude in the prices.

That's the feeling I got when speaking to Carly today and I will leave it until later in the week before calling them back. Phil

 

[Sandspider]

I think Direct Line may be worth a look. They were my best quote, but I got my current insurer to match it (Admiral). Direct line also offer fixing of vandalism without affecting your no claims. (Check details before you buy, I *think* I saw that somewhere :s) They also don't care whether you park on the street, a drive, or in a garage. I pay around £600 (after hard bargaining), I'm 25 and it's my only car, 7k miles, parked off street (in Bristol) but not garaged. Come to think of it, I think I even have some business cover on there. Interestingly enough, being at the same postcode but with the car garaged would only have saved me £1.96 a year! The only thing I couldn't get Admiral to do was to refund some of my money when I moved to a better postcode. I even got a new quote for the same address and the premium was £30 less, but they wouldn't give me the difference, or anything. They did say I'd get the savings when (if) I renew. Other than that, they were amenable to being bargained with. (They've had a lot of my money over the years). I'm hoping my premium will be less when I renew as by then I should have proved I can handle the car and not slid it into a ditch... [:-] Giles

 

[Fen]

Aren't Direct Line one of the ones that would rather void your policy because you have an undeclared non-standard dust cap on your tyre valve than pay out?

 

[Sandspider]

Ah, that I don't know. Never actually been with them, and never claimed on any insurance at all. (Touch wood, cross fingers, sacrifice a chicken etc.) I suspect that most insurers will do whatever they can to avoid actually paying out. A friend of mine's car was stolen while he was at university, insured on his dad's insurance. The insurer called his dad and told him that my friend had phoned them and admitted that he crashed the car while drunk! Obviously he did no such thing, and in the end they settled. Still, amazing what they'll try.