Insurance price variation..........

[wolfie308]

We all know there can be a huge variation between companies for exactly the same parameters, but how about this? Renewal due soon and best price to suit my requirements through confused.com was with the A.A at £319

Out of curiosity, I scrolled down to the highest quote which was from 1stCentral for.....any guesses?..........£7,824 ROFLMAO

 

[zcacogp]

Hmmm. Mine up up soon, and by all accounts the cost of insurance is climbing steeply.

£319 is pretty good for a non-classic policy. What are the details if you don't mind me asking?

(For reference, I pay around £500, aged 35, me and Mrs zcacogp to drive, NCB as long as your arm, one no-fault accident 4 years ago, kept on the road in East London. Alarm & immobiliser.)


Oli.

 

[wolfie308]

Hi Oli, my details are... Age 55, clean license, 12+ years NCB, only car but with use of another, 5k miles p.a, parked on drive, HP6 postcode, Cat 2 alarm/immobiliser, me as sole driver, social/domestic use only.

Might be worth me looking at classic policies again as last time I checked, they seemed to only want to cover me if I had another car(as a main use vehicle with me as the Policyholder)

Be aware also that the Roadside Assist option that the A.A offer doesn't cover cars over 10 years old when you read the small print []

 

[Northern924]

Have a check on go compare, they have a specific search for Classic Insurance.

Last year I had mine limited to 8k and with no NCB paid £329, this year with 1 years NCB and on a regular policy so that I can use it as my daily drive with 15k I'm paying £422.
Thats for: 39 yr old, 1 yr NCB, cat1, off road parked South Northumberland postcode, wife on as a named driver, fully comp

 

[Copperman05]

Still the best option I can find is ClassicLine, they offer me Unlimited mileage on a classic policy, only car, agreed value £6500, parked on street in London, fully comp, Porsche Club trackday and 30 day European cover for £400.

 

[Northern924]

Thats one hell of a deal Copperman

 

[Frenchy]

Slightly OT, i have mine with Footman James on a classic, agreed value, unlimited mileage and use of another car with all mods declared £182, but for breakdown cover i have moved to GEM who were cheaper than the AA and my Porky's will be covered.
They chucked in a couple of freebies also, have won a few awards for service in the last couple of years, hope i don't have to use them though !

 

[zcacogp]

ORIGINAL: Copperman05

Still the best option I can find is ClassicLine, they offer me Unlimited mileage on a classic policy, only car, agreed value £6500, parked on street in London, fully comp, Porsche Club trackday and 30 day European cover for £400.

Thanks. That's better than the deal I have with non-classic cover, and I'll be giving these chaps a call when it comes to renewal time for sure.


Oli.

 

[wolfie308]

Just goes to show how much shopping around you need to do to get the best deal/cover appropriate to your circumstances. Firstly, R.H Specialists wouldn't offer a classic policy on my S.2 because it is my only car(even though I'm a named driver on my wife's car).

In the end, it was Classicline that came up with the goods......5k miles, ungaraged, social use only, £350 excess, legal cover, full breakdown cover including HomeStart.......£285. Agreed value of £5k for £20 extra seems a no brainer too.

Interesting to note - because it's a classic policy with no NCB, I have to send them a copy of the previous insurance proving my 10+ years NCB allowed, in order that it doesn't lapse. Haven't come across this before, but then I haven't had a classic policy before.

Copperman.....must say I haven't come across unlimited miles classic cover before. On my letter, Classicline say they can offer 1.5k, 3k, 5k, and 7.5k miles.

 

[pauljmcnulty]

Agreed value of £5k for £20 extra seems a no brainer too.

That sounds low for your car, having put in a lot of work over the last year or so? I'd have said go for £8K off the top of my head. [8|]

 

[zcacogp]

What does "agreed value" actually mean? I've heard that it doesn't mean that in the event of a total loss, they send you a cheque for the relevant amount just like that ...

(McNulters, I think you probably know the answer to this one.)


Oli.

 

[DivineE]

Mine was £1200 on my 3.2 944 turbo when was 21 3years NCB (although it wasn't on the road at that time I had the quote). I now pay £1107 for WUF with all mods declared at 27 with 7 or 8 years NCB. I don't suppose it will ever go down much or hopefully ever go up either.

p.s. the 996tt who barely anyone will ensur for some reason?! Cost me £1350

 

[pauljmcnulty]

ORIGINAL: zcacogp

What does "agreed value" actually mean? I've heard that it doesn't mean that in the event of a total loss, they send you a cheque for the relevant amount just like that ...

(McNulters, I think you probably know the answer to this one.)


Oli.

Agreed value means that they agree to pay you the value you agree on in the event of a total loss. Of course, it's subject to plenty of terms and conditions, as you'd expect from insurance companies, but basically that's it.

The problem is more down to agreeing the value; you have to be very realistic. I can't say my car is worth four times the going rate unless there's good evidence to support it, but it should enable you to buy another one and get it in to the condition of the original. This might mean a really good car; one owner, low miles, full history, a cupboard full of concourse trophies etc., being valued at what would seem a ridiculous amount of money. I know of cars valued at c. £15K, and as long as it's agreed then that's what they'll pay out. If, however, you fill in one of the "self-certificate" forms, such as the Classicline one, you have to be totally honest as the car's not actually being valued by someone qualified to do so. If you say it's immaculate, but after an incident an assessor finds it's rotten through, you'll be lucky to get paid out at all; just as if you lied about convictions or health on the application.

That's why a Club valuation is so much better. As it's done by someone who's accepted by the insurance industry as qualified, then there's no reason for them to dispute the value. In fact I'd think any court would force them to pay the full amount out, but I've never heard of a problem. And it's free, which is a very nice thing indeed. []

 

[DivineE]

ORIGINAL: pauljmcnulty

That's why a Club valuation is so much better. As it's done by someone who's accepted by the insurance industry as qualified, then there's no reason for them to dispute the value. In fact I'd think any court would force them to pay the full amount out, but I've never heard of a problem. And it's free, which is a very nice thing indeed. []

Can I get someone who isn't a standard, S2 lover to value WUF

 

[pauljmcnulty]

Can I get someone who isn't a standard, S2 lover to value WUF

Something like WUF is about the hardest to value, as there's not really a comparison out there. What could you buy to replace it, and how much would it cost to recreate what's been done to WUF? [&o]

I'd start valuing it by purchase price, plus an increase for the restoration you carried out on the bodywork. How much of an increase is difficult to say, personally I'd go for the full amount you spent but expect them to reduce it a bit on the basis that at least a proportion of the repairs were normal maintenance of a twenty-year-old car.

Separating what's genuine restoration work, rather than purely expected service work, is the tricky bit. For instance I've just spent a large amount on mine, of which nearly £2K was to overhaul or replace every part of the brake system except the servo and the handbrake cable. Is my car worth more having had that done? Yes, and it would sell for more money than one that needed a caliper overhaul and all new discs, pads, shoes, lines etc. Is it going to up the insurance value? No; it was just regular servicing as far as insurers are concerned, and makes as much difference to a valuation as a new set of spark plugs.

Anyway, back to WUF. I would make sure that every mod is very clearly detailed, and that you get an agreed value. It's exactly the sort of car that insurers could get awkward about, and just saying "I paid x for it" isn't a guarantee that they will pay you the same amount.

 

[DivineE]

Hmmm thank you. They do have a lot if detail on the car and an 'agreed value' but it was more a value I suggested and they didn't question. I don't know what would happen if the worst occurred!

 

[zcacogp]

Paul,

Thanks - very helpful.


Oli.

 

[Copperman05]

ORIGINAL: wolfie308
Copperman.....must say I haven't come across unlimited miles classic cover before. On my letter, Classicline say they can offer 1.5k, 3k, 5k, and 7.5k miles.

Its def unlimited, says so on the insurance cert. Classic line were also one of only 2 insurers that provide classic cover on an only car, most of the others stipulate it must be a second car.

Edd