Insurance Advice

[911sse]

Looking for some advice here..........

I have been with Carol Nash insurance for the last six consecutive years covering my 944 and my 911 (for the past three years). I was always insured with them, never had any claims and the premiuim was around £325.

I recieved a letter from them today, stating that on my renewal date (15th Nov) they will no longer be able too cover me, no reason stated on the letter. When I called, I was told that Axa (the underwriter) are no longer insuring cars newer than 1975.

If they were too insure the car, it would have to have a Thatchem Cat 1 Alarm & Immob fitted (currently Cat 2 Immob) and would cost around £1100, as they would no longer view it as a classic car. They stated that this will affect mainly Porsche and Ferrari owners which currently have policies with them.............

Anyone else heard this from Carol Nash?

Anyone point me in the direction of a suitable insurer?

Co name and Tel No appreciated.

 

[Guest]

I use Liverpool Victoria, £600.00 PNCD, unlimited mileage, lots of mods, central London postcode (but old, mind you - me, that is). Forgot their 'phone no. - whoops.

The thing about a Thatcham 1 alarm, as long as it was Thatcham 1 when fitted, whatever it may be considered to be now, makes it still Thatcham 1 in the eye on the insurance company.

 

[Andy Tims]

Try Norwich Union - competitive & professional.

 

[Beaky]

Renewed with Carol Nash earlier this year with no problem, this must be a very recent change in policy.

Well in the long run It'll be their loss in customers, loyalty seems to mean nothing

 

[Guest]

loyalty seems to mean nothing

With any PLC, the loyalty is to their shareholders.

 

[Ian Donkin]

My '92 Turbo renewal went from £504 with Carol Nash to over £1k until I called to discuss a better price. I ended up with an everyday policy, still from them, for £700.

I've just bought a '72 2.4T and it's with R H Specialist Car Insurance (they advertise in PP) and the premium with 5,000 miles is just £157.50 inc european breakdown & legal cover!

It's even underwritten by one of the big names (can't remember without checking the certificate) - quite remarkable value.

Worth a call?

 

[lesworth]

I've just insured my 1988 Carrera Sport for £329 with 5000 miles limit through Classic Line. I tried Carole Nash and they confirmed what you say above and that this is effective from 1/10. Had I called a few days earlierm they would have insured me for £269......

 

[Alan_Armstrong]

I'm with Carole Nash...for last 3 years and my renewel is January, so I will watch this post with interest. I would assume then, the CN will pull their sponsorship out from PCGB, as they will only be able to accomodate a small proportion of the membership.

 

[IanHighfield]

I had the same update from Carole Nash, so rang around.

You will find problems if not fitted with a Thatcham Cat 1, or if you do not always park in the garage - problems for me on both accounts. ClassicLine for example refused to quote if not garaged, and PerformancMarques wanted 500 extra if not Thatcham 1.

To the rescue come Liverpool Victoria - £316 comp unlimited mileage - 43 year old with full NCD - no mods but outside London.

One final point - I really wanted Track Cover for next year - how / where do you Track guys get your insurance, or do you just risk it at the track ? No chance of getting it included, as LV said there policy document now specifically Excludes Track Days.

 

[carreracat]

Went with Adrian Flux in the end after a lot of shopping around. They were happy consider my '86 3.2 on a classic policy, and the quote was very reasonable. Had to have the Thatcham 1 alarm and immobiliser though.

 

[andrew symms]

I am with R H Specialsit, shopped around and they were the best, just over £300, only need CAT 2 Immobiliser, but has to be garaged at night when at home, limited to 5k per year, but as third car this is not a problem, also they include UK and European breakdown cover.

I would also be interested in obtaining track day cover if possible, went to Donnington a month ago, knowing if I had a knock it was going to cost me. What does everyone else do, do thay have cover or just lots of money???

Regards


Andrew Symms

PS how do you get picture onto your reply?? Also it says if am not a memeber, but I am?

 

[Guest]

Liverpool Victoria for me as well. PNCD of 5 years but with 6 points on my license - Gbp 422.00. Nobody else could get even close.

 

[911sse]

Well I rang round all the insurance firms listed above and a few others from the back of the Porsche Post.

Best Quote - ClassicLine Insurance

£100 excess
5000 miles pa
breakdown & legal cover

£277


Thats at least £50 cheaper than Carole Nash used too be, so I think I will be going with them!

 

[plhorner]

Mark,
is that an agreed value policy?

 

[911sse]

Yes it is, the info arrived this morning.

I was wrong about the breakdown though, it costs £20 extra for UK and £35 for EEC. Not bad really.

 

[Guest]

Re Track Days, the only one I know of is thru Peart (RSA underwritten) and they cover PCGB track days provided you notify in advance and with an excess of circa £1,000 IIRC. I have in the past chosen to simply go without insurance on some days though. BTW, I am not rich, I just trust myself not to screw up - much like I do every time I drive on the public roads. Some corners require you to leave a bigger margin for error than others as do wet track conditions. Sure its a risk, but baring mechanical failure, its a calculated one.

I will offer two more (contradictory) observations. First, I think it could be difficult getting a payout even if they say you are covered. No evidence, but I can just imagine them being incredibly difficult. I run limited tread (but legal) R-compound tyres, have race seats etc. I can just imagine the claim form: "my rear tyres went off and the back stepped out on me while trying to get thru the Becketts complex at 110mph...". Secondly, a lot of companies say they don't cover track days but unless the policy actually excludes them, you may have a good argument for cover if you are prepared to get into a court battle. Most policies used to exclude timed events and racing only (perhaps they have changed - although the pace of change in the insurance industry is glacial). A small minority cover on race tracks or on private land, the latter of which is non-sensical as it might exclude you on your driveway or the supermarket car park etc. Anyhow, my memory of basic contract law and the contra-profrentum rule is that the contract will be construed against the party seeking to rely on an exclusion or against the party who is trying to interpret the contract in a narrow manner. This basically means that the exclusion has to be clear for the insurer to rely on it. Track days are not competitive and are not timed events. I personally think the club should call them Driver Training or Driver Education events to further distance themselves from other track day operators. I also get rather angry when I hear of members timing laps at track days. This jeopardises the club's Indemnity cover and the owners' personal cover - but I digress.

So, it may be worth checking the wording on your policy to see what it actually says OR the moral is, never trust your insurers []

ciao,
Richard

 

[Signor]

Greetings
Having just bought my FIRST Porsche a '85 3.2, (can't stop grinning, stupid boy) anyway, I found my current insurance company, DIRECT LINE, very helpfull. With a sports exhaust it only cost me around £537! The car is parked on my driveway in the outskirts of N.W. London and only needed a cat 2 immobiliser! I am an old fart (54) and luckely with no points on my licence (honest).
By the way a cat 1 alarm system only costs around £300 upwards, I don't know who quoted £1100, nice profit for someone!
Hope this info helps.
Alex (alias signor)

 

[bones]

Good point about people timing laps at trackdays but what about the new 'chrono' toys in the current Porsches? Incidentally I've just moved my insurance to AON. '78SC with lots of mods, no mileage limitation, full Europe wide breakdown cover £100.00 overall excess, £40.00 glass excess and an agreed value of £15,000. £267.50!

 

[cramond]

I had a little difficulty getting insured as I don't have a garage which is a prerequisite for quite a few of the underwriters.

Footman James came up trumps with a reasonable quote of £456 which includes full breakdown recovery & homestart comprehensive cover for 2 drivers, with an agreed value for a cabriolet parked on the street doing 5,000 miles/year. It even includes for cover & breakdown in Ireland (not sure if this is all of Europe)

Good Luck

 

[Guest]

My renewal with Carole Nash came through ok still as a classic policy and still with last years premium of £297.00 . All terms and conditions same as last year.Strange eh????
Ian(CTJM)