Insurance & Depreciation

[Boatfiller]

Had quote for my 1 year old C4s from 'Porsche Insurance', who are in fact Marsh Private Clients, and my premium had gone up 8% with no claims been made in the last 12 months and no change of details. Now I know the Insurance Premium Tax has gone up 1%, so I challenged them about the increase. They would no budge on their quote, which also includes 2 track days per year (with excess increasing to 10% of the value of the car) through Aviva
So 1 asked them to requote with the value of the car reduced by 12% for being 1 year old, the new quote was reduced by a similar amount. Now I know I may be splitting hairs, but how many of us don't reduce the value of the car each year? As it is my pride & joy, I have also taken out Gap insurance so any differential will be made up.
I would like to ask 2 questions:
1. what depreciation should be used for a 1 year old that has done 8k miles?
2. Can anyone recommend another insurer who is very reasonable & includes track days, because I don't want to bang my details into comparison websites and then be bombarded with phone calls from all and sundry?
Thanks

 

[tscaptain]

Jon,
1. More than 12% I fear!
2. I'm with PIS (Marsh) and found them to be the most competitive this year (and for the last 3).
Can you divulge the PIS quote for this year?
Seen this thread?
http://www.porscheclubgbforum.com/tm.asp?m=584141&mpage=1&key=insurance

I've found price comparison websites a waste of effort for our cars - you need to talk to them to get the best price![]

 

[Boatfiller]

Alan
more than 12%? ambulance is on the way! what would you put it at for year 1 & year 2 for new car with average 8k pa mileage?
My quote is for me & wife, 10k pa, xs £430, value £75k = quote £492

thanks for link to previous thread, I know its a pretty good deal, but just don't like to pay them a penny too much. As i have got a few days til due, my challenge now is too see how much of their 22% I can recover through haggling!

 

[spyderman]

I ask them about value each year and they say that below a certain amount (can't remember what) it doesn't make any difference. I did get a few alternate quotes at last renewal but other than Admiral (who I don't trust to offer a particularly good service) no one could beat Porsche/Marsh/Aviva.

 

[tscaptain]

ORIGINAL: Boatfiller


more than 12%? ambulance is on the way! what would you put it at for year 1 & year 2 for new car with average 8k pa mileage?
My quote is for me & wife, 10k pa, xs £430, value £75k = quote £492

I think you'll struggle to find it much cheaper Jon - and at that value you don't need to have the tracker @£208 if you don't want it!
Value is always a tricky one. PCs have year old cars for mid/low £70s but of course as a trade in or private sale I guess would be somewhat less. Then there is the spectre of the new model on the horizon which won't exactly push the prices up either![] I just keep telling myself I can't take it with me......[]

 

[john crannis]

Having just renewed my insurance this month with Aon/ Aviva and the tracker for a 3rd year, I was informed that when the cars value fell below 50k
there would be no requirement for tracker to be active.!

 

[Robin M]

I have always found MPC to offer the best cover with the best price as very few other insurers will cover 2 track days a year and not require a working tracker device.
As to depreciation minimum £5K a year from new for the first 4 years probably more like £10 to 15K year 1 then 5 to 8K each year up to 5 years. New model will not help.

 

[azure111s]

My insurance with Aviva went up 15%+ this year (renewed 2 weeks ago), also with no changes except lower valuation. It's still valued at over £50K but they said that Tracker not mandatory. By removing active tracker from the quote, it went up another £30 or so, but I saved £208 by not renewing Tracker. So, overall I just about broke even on last year's cost (albeit with no tracker); might even've been a bit better off (didn't do the sums to the penny).

Broker wouldn't budge on price though; insisting that if it was a new policy or policy with any other company it would've added another £200 :-(

 

[lowndes]

Jon

Though a strict like for like comparison is difficult, I think the premium for the S actually went down between March 2010 and March 2011 whilst at the same time the replacement with new was extended/confirmed for the first two years. Of course I have to add £200+ for the loathsome Tracker but taken in the round AON/Aviva have delivered for me. No track day nonsense of course as my p&j leads a cossetted life.

Overall I don't think you have a bad deal and you'll just have to hope your insurer didn't see you ragging it round in the wet on Sunday.[]

Cheers

 

[Boatfiller]

I accept that buying a Porsche is not cheap, and the running costs are not getting any better, but Alan's analogy of 'can't take it with you' is spot on and I live by that most of the time.

Insurance is a fact of life, but if we don't challenge these 'leaches', then we will be held to ransom every time renewal time arrives. I will update once I renegotiate to see how much of the 22% I can claw back of the brokers fee for sitting on his backside and taking phone calls! It may only be pennies, but if you don't look after those, then who's going to look after the pounds?

Thanks all for input

 

[cueman]

I found A Manning to be very good for high powered cars, esp with mods, and in my case included unlimited track days.

As for value, i have no idea, but rule of thumb might be to find similar car on the Porsche used car list, and take 7-8k off that for equiv trade in ??

 

[c2s]

I am through Marsh and I saw my insurance double, when I asked it was because of the claims made last year by other drivers.
The good thing about Porsche or Marsh is if you put for example GT3 rs front bumper on a 997s and you bump it, they will replace it at the Porsche bodyshop.
You must tell them of course but they even take into account if you do ever smash your porsche up they take the market value plus whatever is on the car into the price, so if you have a GT3 bodykit on and they know about it, you will get a decent price more than the market value.
I found even with the double payment of £187 per month they are still the cheapest around.

 

[Oggy]

ORIGINAL: c2s

I found even with the double payment of £187 per month they are still the cheapest around.

£187 per month [][][]......even with my feeble maths that's £2,244 per year.....you don't have a Japanese or Libyan post code do you []