Renewed Insurance and Value

[Alan Mendelson]

Hello All
Previously this year I started a thread regarding the value of my Porsche 3.2 Carrera and concluded that I had it under insured.
I have just had my renewal notice through so I have spoken to my insurer and have increased the insured value from £16,000 to £26,000. This is not an agreeed value but it shows that in the event of a claim I have not under insured the vehicle.
For increasing the value the insurer has increased the cost of my policy by £8.17 to £193.24. This is about £150 cheaper then when I first insured the car 13 years ago.

Just for interest the details of the policy are as follows:
Me and my wife are named drivers;
Fully comprehensive;
Protected bonus (11 years);
Unlimited milage;
Business use;
As many 30 day European trips as I want each year;
Car garaged at night;
Alarm and tracker fitted;
Excess: £250 compulsory plus £250 voluntary;
Value: £26000.

I am Insured with Admiral on Multi Car policy,
Second car Audi A3 S-line 170 TDI Quattro.
I do not have any involvement or association with Admiral, I am just acustomer.
I hope this may be of interest and assistance to any one looking to reinsure their car.
Regards
ALAN

 

[cramond]

Thanks for posting this reminder of the way the air cooled prices have been rising recently.
I too have now made the phone-call to adjust my insured value from £25,000 to £40,000 for my 1984 Porsche Supersport Cabriolet with RUF Conversion.
My insured profile is similiar:
2 Named Drivers over 50
Fully Comp
10Yrs + No Claims (Not protected)
Mileage may be capped at 5 or 6k?? per annum
Alarm fitted, no tracker
Excess about £500 all-in
Overall Cost £185
Details not 100% Sure but think above correct

The nice guy Mike at Chaucer (Again no affiliation or vested interest) advised they would waive the admin. fee and just adjust the underlying premium. I was then advised as the extra premium was just £0.96 (Yes 96 pence) they would waive that as well. So price stays at £185. Result!!

My advice would be to check your value against the market just to be safe.

Regards