Insurance again

RSGulp · Jun 30, 2009

After extolling the virtues of Hagerty Insurance for the past year, and telling everyone I know who drives a Porsche how good they are, and sending at least 5 people their way for new policies, I received my renewal today... £420 up from £368 last year.

So, one year on I'm seen as a £50 per year higher risk than I was at the same time last year - and it's only on a £42,000 agreed policy!

I'm looking forward to calling them and telling them it's not insured for enough anymore and I need to bump up the agreed value. Wonder how that will affect the premium? Arse.

Stewart H · Jun 30, 2009

Shop around Rich - it's a buyer's market at the moment.

ChrisW · Jun 30, 2009

True, I have found their rates quite variable --- discounts for second cars etc.

But 10% of the premium for a trackday is quite inexpensive --- including Spa.

Cx.

964RS_DAB · Jun 30, 2009

Footman James have always offered me good value for money in the past on a multi car policy with quite a generous guaranteed value on my 964rs and no mileage restrictions. Only drawback is I'd have to pay extra for track cover......

May be worth giving them a call 0845 458 6792 is their specialist vehicles division

cheers
David

Ben Savill · Jul 1, 2009

ORIGINAL: ChrisW

True, I have found their rates quite variable --- discounts for second cars etc.

But 10% of the premium for a trackday is quite inexpensive --- including Spa.

Cx.

This of course assumes that Rich takes the car on track [

].......
Allianz is the actual "paper" that the Hagerty policy is written on so not their fault that price has gone up unless they are taking more commission of course !

Definitely a buyers market so look around but still thank that Hagerty are good.

vic cohen · Jul 1, 2009

In very recent conversations [ last night] it seems FJ purchased by Aon are trying to duck out or even alter track day agreements ........if pressed they own up and threaten ok now BUT no chance next time .................if u happen to have a policy with Aon this wont happen ....................................................they will also quote competitively for track days etc in the Surrey office ............................

Jamie Summers · Jul 1, 2009

ORIGINAL: RSGulp

After extolling the virtues of Hagerty Insurance for the past year, and telling everyone I know who drives a Porsche how good they are, and sending at least 5 people their way for new policies, I received my renewal today... £420 up from £368 last year.

So, one year on I'm seen as a £50 per year higher risk than I was at the same time last year - and it's only on a £42,000 agreed policy!

I'm looking forward to calling them and telling them it's not insured for enough anymore and I need to bump up the agreed value. Wonder how that will affect the premium? Arse.

Rich,
Very surprised ..... just had my renewal from Hagerty. Mine has gone down from £537 to £505 for £50k agreed value. I was expecting an increase, as the general feeling is that motor insurance rates are hardening at the moment. I also asked them if my moving out of central London to Surrey would affect the premium, and they said "no, it's more a function of the car's value and my personal circumstances rather than postcode". The implication being that regardless of where I lived in the UK be it the Highlands of Scotland or a council estate in Peckham, so long as the car is garaged, the premium would remain the same. I must say I found that a little puzzling as plenty of other supposed "classic" insurers have declined to quote based on my London postcode in previous years. All very strange ...........

Jamie

Melv · Jul 1, 2009

Richard obviously has been penalised for 'history'.....[

]

No track days....[

]

Stewart H · Jul 1, 2009

Had my renewal notice through from A Manning today. Garaged in SE London, 47 years old, 6 points for speeding, 14 years no claims, 5000 miles policy £643.50 including accident management service and tax. Down £1.90 from last year.

timarnold · Jul 1, 2009

Just out of interest, how many track days do these Hagerty policies include and what level of cover do they provide?

Typically the specialist track day insurance companies charge a premium that's approximately 1% of the vehicle's value, covering the full value against accident damage including mechanical (engine, gearbox, etc).

I was at Oulton today with a guy in an Ariel Atom and he decided to call one of the leading track day insurance companies to insure the car for both of us to drive. He told them I was going to be instructing him and driving, so I would be in the car all the time, and they discounted the premium £100 from £280 to £180! [

]

964rsdatabase · Jul 1, 2009

Well, i use Classic Line insurance brokers and my policy price last year was £399. Agreed value of 40k and limited mileage of 1500 (yes, i know i should use it more!). Renewed it with them today via a different company (Chaucer insurance), with an identical policy for £263! I can add another 1500 miles for £35. Now i reckon that's good value!

Stewart H · Jul 1, 2009

The Manning policy has unlimited track days (as long as the organiser is ATDO registered or PCGB or MSV and my value is £50,000, so at £500 a pop that would be £2,500 for my normal 5 TDs per year Tim. Thanks to the credit crunch (read massive pay cut) it will only be 1 or 2 TDs this year, but still represents a bargain to my mind if you thought about a policy of (say) £400 plus TD cover.

vic cohen · Jul 1, 2009

Backed off an annual classic or day to day policy , its almost standard for a 10% excess , cap of £100k on the car [less 10%] if crashed on track, whatever the normal agreed value is and i have never had mechanical option of any sort.........definitely down to driver wallet !

quiquedb · Jul 2, 2009

You are lucky men... we in Spain don't have these insurance companys... we pay more 500â‚¬ for nothing more less... Wait some one wants to increase his bussines in Spain doing these kind insurances... may be one year...

jason · Jul 2, 2009

Recently renewed all mine with hagerty. I think they're greeeeeeeeeaaaaaat[

]

Maybe prices have gone up for cars with lack of use and excess polish?

Steve Brookes · Jul 2, 2009

Tim, Hagerty don't include any trackdays in the annual premium but charge you 10% of the annual premium per TD. You just ring them up before the event. In my case that means £33 per trackday. Even with the much lower value of my C2 it would be silly not to take it out each time at that price.

graham harvey · Jul 2, 2009

Thanks for heads up regarding Hagerty - just got my renewal down from £313 to £197 and the girlfriend is covered on it too (he says nervously !!)

ChrisW · Jul 3, 2009

ORIGINAL: Steve Brookes

Tim, Hagerty don't include any trackdays in the annual premium but charge you 10% of the annual premium per TD. You just ring them up before the event. In my case that means £33 per trackday. Even with the much lower value of my C2 it would be silly not to take it out each time at that price.

Thanks Steve, I obviously didn't explain this very well [

]

Now back from my travels ...

timarnold · Jul 3, 2009

Thanks for the replies to my question guys! I'm weighing up all the options for a track day hire car that would have to be road registered/insured etc.

10% of the main premium per TD would be good compared to single day bespoke TD insurance - providing they would extend that cover to the client.

Just to clarify (Vic) the mechanical cover Comp. Car include is for accident damage to the engine/gearbox/drive train, not for mechanical failure such as blow-ups. It's worth checking your cover guys because on track day cover some insurers don't cover the mechanicals (some do but it's worth checking and being sure about it), so if you were unlucky enough to back your 911 into the barriers and you broke the crankcase in two, it might not be covered by your TD insurance.