Insurance

[PJ63]

Had a quote from them last year & they were more than double my existing broker, so not sure what we get as a PCGB member!

 

[roblaurie]

I'm intrigued to know what other 911 owners think of the PCGB affiliated Lockton Insurance.

I've just renewed the insurance for my 991 C2S.

The quote from Lockton was over £1300, albeit for unlimited track days.

My present insurer is Porsche and although I am limited to cover for only 2 track days, the premium is £331 !

I fail to see where the extra Lockton benefits might be.

Also, Mannings wanted over £900.

I suspect that these insurers tailor their cover more for classic Porsches, but I'd be interested in any comments.

I am, by the way, an unexceptional risk - no convictions or medical conditions etc.

Cheers,

 

[stokey]

Some members have had competitive quotes on a multicar policy, its over 180days on the forum to view. My experience is the same, I have gave Locktons two chances on my last cars 997 gts and 991 4S they were wildly uncompetitive both times!, Marsh / Porsche seem always to come out best. I will give them another chance in Nov on my turbo to see if they have woken up yet[8|]

 

[Lancerlot]

You would do us all a favour by contacting David Hamer, david.hamer@uk.lockton.com and informing him of your experiences. Although it is keen to help, the Company seem unwilling to accept their insurer (Chubb) is not competitive for modern Porsches and the more examples we can provide, the more likely it will be he can do something about it. Just yesterday, I had a call from a friend looking for Macan insurance and to whom I had recommended Locktons. He gave them a call, was promised to call back with a quotation and nothing was heard. He gave up after the second call and placed the business with Marsh - my other recommendation. Regards, Clive.

 

[salisbees]

Same issues with my 991C2S with both Lockton and Mannings, who previously insured my Boxster S, and on questioning the reason was told that the underwriters were new car averse. What a load of rubbish!!

 

[pauljmcnulty]

You would do us all a favour by contacting David Hamer, david.hamer@uk.lockton.com and informing him of your experiences. Although it is keen to help, the Company seem unwilling to accept their insurer (Chubb) is not competitive for modern Porsches and the more examples we can provide, the more likely it will be he can do something about it.

Possibly copied to the commercial director as well? It's a two-way deal, so it should be weighed up from both sides. Given that their other two main car clubs are Ferrari and AM, they should be used to everything from the rare old cars to the new ones, all in one club. I guess one difficulty is that it's a classic policy with extra benefits like agreed value and salvage rights, which might not be relevant to new cars? They can't compete with "ordinary" insurers on price, but seem pretty competitive with the classic insurers from my experience. Only £10 or so different to Classicline for me last year.

 

[pwebb]

I have spoken at length with David Hamer since they began working with the Club. My understanding is that the insurance model is different to AM and Ferrari as Porsche owners actually use their cars... However they are well aware of the problem with newer cars and as Clive says the more ammunition we give them with real world quotes from other comparable companies, the more likely they will build a history for Chubb to work with. I have Marsh for the 991 but my Cayenne is with Locktons. They seem reasonably happy with their conversion rates but a competitive situation with the newer models would be a big step forward.

 

[Lancerlot]

They need a system for responding to new enquiries too, as this is business being lost simply through inertia. [&:] Regards, Clive.

 

[ralphmusic]

I have just been quoted £858 and £860 for a single track day at Spa, this is equal to my full year policy with Manning for a 981CS including unlimited UK trackdays. Marsh was around £450 with two trackdays so for my particular needs Manning is best, albeit it's another £250 for Spa. As always it just pays to shop around.

 

[SteveJC]

I've used Marsh for the past few years and did try Loctons last year but not for my new policy renewal in May, choosing to go straight to Marsh. Following todays out come It probably will not be them next year, why ?, well, it all started when I decided to use one of the 2 track days that my policy includes. I rang Marsh and explained what I was doing, where the day was etc., no problem at all until they wanted £20 administration fee, now, if the fee was for change of registration number, change of address or even change of car, I would have accepted it without a blink of an eye, but not for something that I believe they should include as the two track days are already in their policy. I won't even go into detail about the conversation regarding email and scanning of documents.

 

[tscaptain]

That's odd - they have never charged me for issue of track day cover note.

 

[SteveJC]

it is the first time they have charged me, that's why I was surprised.

 

[BigCat]

Marsh tried that one on me when I requested cover for Castle Combe, i referred them to the brochure which describes "two free track days" and that free means no cost so they relented and it cost me nothing

 

[lowndes]

I insure 6 cars (4 Porsche) on a Locktons fleet policy. This averages out at less than £400 per car and includes all options and add ons and unlimited PCGB track days for all Porsches. It certainly won't suit everyone as there is an element of front ended loading but once you clear that threshold the additional premium based on value is very small. If anyone wants more details pm me as some of this is best not discussed on open forums. Riviera (non 991 []) car has already enjoyed the track day cover at Anglesey and is currently taking advantage of the European cover while checking out part of the route for the September tour.

 

[Lancerlot]

Just had the following response from David Hamer on queries raised regarding insurance:- Dear Clive, Many thanks for taking the time to contact me and outlining the issue. I needed to do some research but having checked with the team I cannot trace the call from your friend Gerry which is odd. Our systems are designed so that we should not miss any calls but there is human intervention and if we have fallen down in this case I apologise. Generally, the scheme is operating well with over 1,000 members taking advantage of the policy we offer. Our conversion rate is 70% which means that for every 10 telephone calls we receive 7 take out a policy with us. This is way above the industry standard but is the type of responses we expect on all our Car Club business. Unfortunately, there will always be some members who do not insure under the scheme but we do try to offer all members a competitive premium and an insurance policy that meets their needs. Again, many thanks for contacting me. Regards David Hamer ACII Risk Solutions The company therefore seems happy with the status quo and has not indicated anything will change any time soon as regards our modern Porsches. [8|] Regards, Clive.

 

[SteveJC]

Just got off the phone to Marsh re the track day cover and their £20 administration fee, apparently this as been enforce for over year, with everyone who requests a track day having to pay, this is, as they say, because of the Financial Conduct Authority. I still do not agree as to me the 2 track days are covered by the policy for your premium paid, not your premium plus £40. SteveJC

 

[BigCat]

I have just called Marsh to enquire if I can request Track Day Cover by telephoning on the day I want it, the answer was yes and I would receive a cover note by email on the day, however, they went on to tell me that it costs £20 to set up the extension. As I said in a previous post I have not been charged before so I have sent them a scanned copy of the Porsche Insurance Brochure, the specific wording printed in this brochure is "Upon request your policy can be extended free of charge to allow you to participate in any Porsche Driving Experience Day in your own car and up to two organised track day events within the UK. The cover provided is subject to an increased excess." I have sent them a copy of this and wait to see what they come back with. Adrian

 

[BND]

New member here … first thing I did the next morning after receiving my club membership pack was call Locktons for a quote on my 991 Turbo S and was promised a return call the same day. Couple of days now and no reply.

 

[ChrisSeaward]

Hi BND, welcome to Porsche Club GB.

I'm sorry to hear that you haven't received a call back from Lockton. I'll speak with them tomorrow and ask them to call you as soon as possible.

Look forward to meeting soon.

Thanks,

Chris Seaward General Manager, Porsche Club GB

 

[Lancerlot]

Hi,

We don't know who you are because you are posting anonymously. But welcome - whoever!

You are certainly not the first to experience this by any means. It would help us all if you would contact David Hamer at David.Hamer@uk.lockton.com to advise him, since he doesn't seem to believe there's a problem in his office responding to these enquiries.

Of course, it may be they are embarrassed by the premium being obtained from underwriters because for modern high value Porsche, they are invariably far more expensive than many of their competitors.

However, completely ignoring a member's initial enquiry doesn't seem to be the best way of cementing the position as the Club's broker. [8|]

BTW If you contact support@porscheclubgb.com your forum status can be changed from "guest" to "member".

Regards,

Clive.