Insurance (uk)

[dapinky]

Obviously your neighbours are more dodgy than we spoke about if you're being seen off for that much!

Actually, It's a good price, but i thought it would have been nearer to the money Paul & I paid Mr Flux......unless prices have gone up since i got mine in August.....or you told them that yours is worth substantially more than it actually is.........

[GeoffSmith]

Name?
Car details?
Address?
Oh, is that anywhere near the Consonant boys?

I think the main problem was that it's too young (unlike me before you say anything) whereas most classic insurance policies start at 15 years old and I've gone for a guaranteed value of £10k (it will be interesting to see what happens there).

[dapinky]

Ah, good point ......... my mathematical ability failed to recognise that your S2 isnt considered to be a classic on age alone

[paulrwebster]

Just changed to Adrian Flux (£222.40) from More Than (£164.21 in August).

1995 Elan S2
Brake upgrades - front and rear
Cherished policy - guaranteed valuation (NB the car is less than 20 years old but it is our fourth car)
5000 miles per year
Social + commute for me only
Garaged @ home
Thatcham Cat 1
53 year old + 46 year old wife
One no fault claim (her) / no endorsements in last 5 years

Surely you should declare your ECU Geoff. I know that you can switch it back quickly, however if you are in a smash you might not be capable.

[Sy V]

...53 year old + 46 year old wife One no fault claim (her)...

Lies, lies and damn lies!

[rob]

Sy,

need I remind you of this little adventure, not your fault of cause

viewtopic.php?f=18&t=7337&p=83180&hilit=+accident#p83180

[Sy V]

Hi maestro!

Thanks for the memories... I think!

[paulwatkins]

Classic car policy through Adrian Flux.
35 years old, no caims/convictions
garaged
agreed valuation
modifications declared
5000 miles
£100 excess
Fully comprehensive cover

£163

Just had my renewal through. £169 with the same company but with additional mods and 1 year older

[Dazzlovski]

That goes for me too.
Just had renewal note from Footman James - £420 !!

42 (borderline ancient with full head of hair)
Insured for me and my rim-scraping partner
5000 miles
Social, domestic
Garaged
3 points (me)
Claim 4 years ago (Stolen,recovered)

Mr Flux's team..... £239.00
Way to go Mr Flux

[SimonH]

I have just joined the forum [see newby post] and am thinking about getting a car ..if the price is right!

I have just got a quote from my insurance company Richardson Hoskin Classic Car Division for an 1991 Elan M100 3 named drivers all over 40.
To be added to my existing Classic Car Policy;

Car must be garaged when at home, evidence of factory alarm/imobiliser or Thatcham CAT 1 Alarm.
Includes UK and European Breakdown.

You must have another car as daily drive!

Premium :£185.00 pa

I do recomend them for classic policies and normal. They dont give added frills, but do cover at very good prices. I keep checking against others and they always come out best!

Can anybody do better?

[max and andy]

Just got our agreed value back from Adrian Flux through Ensign. S2 1995 32000 miles £375 Comprehensive
Her 38 him 40
No claims or convictions.
7000 miles per year. (No mileage restrictions on the schedule)
Social and domestic.
Occupation Retired
Parked on drive.
Agreed value £12500
Thatchem 2.
We seem to be paying quite a bit more then others with Flux. We are more then happy with the value. Flux seems to think the market is still strong. Can you barter with them over the price. Pointing out other LEC members with points, modifications and claims. Paying £150 less. Or is it just down to where you live and park. Plus a value over £10000. Max&Andy

[dapinky]

M&A,

Insurance is like any other commodity - you get what you pay for.

Flux are a broker, not an underwriter - ie they sell other peoples products, not their own.

You tell them what you require, and they look at the different companies they deal with, and offer you the options availlable.

eg, Mine was taken through Flux, but the insurer is KBG. - they were the cheapest on the day FOR THE COVER I WANTED. They would (possibly) be the cheapest for you, as the ages are similar, 'crimewave' area similar, car kept on the drive etc etc....


....BUT.....

...they will only allow up to 5K miles a year (it cannot be extended), so may not be suitable.

...also they require a Cat 1 alarm....

as far as 'agreed value' goes, like anything else, there is always someone who will value things higher than others - but virtually any amount is insurable, if you are prepared to pay the appropriate premium.

Your car may or may not really be worth £12500, but it obviously is to you - and undoubtably would cost in that region to replace 'as is', whereas mine is a lower end of the market daily driver with an agreed value of £5K.

Both of our vehicles as equally as likely to be kicked or damaged by a drunken yob (and just as likely as the Astra parked in front of it, come to that!).

Both are equally likely to have a window smashed, or the roof slashed to get at the stereo by a desperate drug addict.

Neither are likely to be actually stolen (by that I mean taken and never recovered) due to the age/value/ease of recognition factors - if a palacio came on the market a week after yours was nicked, it wouldn't take Shirlock Holmes to follow the clues.

Joyriders???? - unlikely due to the alarm/immobiliser (and only 2 seats, and no space for the procedes from the burglary/bank raid).

As such, the only real difference to the insurance company is the amount that they would need to pay out, in event of a claim (total loss, as parts if involved in minor damage would be the same prices!), versus salvage prices.

If you want £12.5K, and I'm only going to get £5K, yours will cost you more

[max and andy]

We thought £375 seemed quite good. Until the agreed value was done immobiliser fitted and all that. We where on a sort of stand by policy that was only third party cover. That was nearly £500. It was reading the likes of Geoffs post with the sub £200 quotes. But as you say Pinky the insurance company are going to charge more if their going to have to pay out more. A & M

[dapinky]

Insurance is one of those areas of cost which never seem particulary easy to understand. Obviously, in a high crime area you will pay more, and if you keep/use the car on a road you expect to pay more, but sometimes it is hard to see how they justify the quotes.

For arguement sake, lets assume that all drivers are the same risk, and have to pay £100 to get behind the wheel of the car and use it.....

...if it is garaged, then you will add nothing on, if it is kept on the drive, say £10, or on a road, say £25 (not for the theft point of view, but for the damage possibility whilst parked).

Likewise, an alarm will add nothing to the premium, but without one, it might add £20.

If you are going 2000 miles a year, it is assumed that you have 1/4 the chance of an accident (fault or otherwise) than someone who goes 8000 miles..... so pay accordingly....

....For the agreed value, you may get something like a premium of £10 per £1k of value...so a £5 car would add £50, wheras a £12K car would add £120.....

all figures are fictitious, but possible (perhaps someone who works in the trade can help?).

As an asside, I pay £105 for one of my Triumphs (agreed value of £7K) but limited to 1500 miles, but another one costs £120 (agreed value £40K), with no milage restriction
The reason being, that the first one is a track car, so has been altered from the factory state.....

...the second is a rally car, but is considered to be 'factory specification' as it was a works rally car used by BL competitions dept - hence it is as it left the factory

I have a friend who has built up a rally car to the same spec, (and uses it), but because his is a modified car, the insurance costs him £800 - what a crazy world!

[max and andy]

Which is the 40K rally car? Have you any photo's of either? and your mates. Would love to see them. A&M

[dapinky]

There are pics of the rally car on here somwhere, but i can't remember which thread

Most of my pics of it are on non-digital images, and it doesn't live here (it's in storage), unless it is going to be used soon!

Not wanting to go too far off-topic, this isn't the place for the pics, but here's just one for now.

frw512l.jpg

and if you follow this link it shows the replica car which i built up for Martin.

[max and andy]

I followed the Sprint for a while in the Classic weekly paper. I was going to tell you about the jacket but you obviously know about it. OK no more off topic. Very nice all the same. Andy

[Freelander]

Renewal Time - not the best use of a couple of hours searching the 'Net. Previously with Red Star but minor bump (no fault) more than doubled the quoted premium (£420.00)- why ??????

1990 SE Turbo
max 3000 miles
agreed valuation £6000
SP30 + 2 (No fault) claims
Nearing retirement (60)
Non NCB policy
incl breakdown / recovery (optional £35.00)
Chaucer Classic Car policy = £175

'Bargain' or can you do better?

[karlo]

Hi all,
I am new to the forum and am thinking of buying an Elan as a second car for myself and wife.
I am 38, wife is 33.
Will be doing less than 6000 miles definitely!!!
I was wondering how much this will cost in manchester if anyone lives there?
Maybe go the classic insurance route but what are the requirments for that beside being over 15 years old?
A range would help too and not actuals if you do not want to post the actual.
The car I am thinking of is the M100 elan (hope that is the second gen one)
Tried gocompare and the prices quoted on there were similar to my everyday avensis T180 transport.
If you need any other information please let me know.
Thanks again
Karlo

[BFG in the BRG]

Adrian Flux - £317 including, European Breakdown, £5000 agreed valuation and 6k annual mileage, Everest declared - pretty good - especially for a renewal - I often find some companies try and load the renewals - Churchill and terrible for it - but Mr Flux seems pretty fair - Classic Line £304 as a comparison.