LEC 'Club' Policy

[Freelander]

Some years ago, a colleague had insurance cover through a MG Club Policy - preferential terms but only for owners of MG sportscars. Has anyone approached a reputable broker with the 'club policy' concept.
Unless we have an Insurance Broker amonst our Members, I am happy to progress.

Before posting, I have searched the archive for any mention of a 'club' policy or preferential group terms without result!

[RayD]

John,

Baron Rouge is an insurance person but hasn't posted for a while.

Ray

[max and andy]

What preferential terms did you get with the MG club policy? What would be the difference between a club policy and the 10 or 15% we get at the moment
with LEC or Club Lotus membership? A&M

[Freelander]

The MG insurance quoted was £75 for 3000 miles agreed value £5000, excess £150 without NCD.
When my previous insurer quoted +50% on the Elan premium due to a no-fault minor claim on my business car, I trawled the insurance market and got quotes ranging from £400+ to £78. The lowest quote was after negotiation with a Broker (a classic car enthusiast) who may be prepared to offer a 'club policy'. As there is such a wide range of quotes, it is logical that some premiums are either a rip-off or do not want the business.
There is an opportunity to consolidate our collective insurance needs and secure preferential terms. The terms would need to be established from a baseline of 15% discount, but I am more interested in the nett cost than getting a higher discount on an exaggerated premium.
To progress please post your experience of Insurer, post code, premium, mileage limit, if agreed value, excess, modifications - good or bad.

Equity Red Star, SA14 8**, £285, 3000, £5000, £250, none,
Chaucer, SA14 8**, £170, 3000, £5000, £250, none,

[max and andy]

Adrian Flux with Ensign. Fully comprehensive 7000 per year. Agreed value £12500. Excess £250. Modifications none. £375 GU 90 **

We are still unsure of how a club policy would differ from the policy we have now. Does it work on a group buy type of theme? Andy&Max

[Freelander]

My understanding (correct this if I am wrong) is that a friendly Broker with detailed knowledge of our cars, possible modifications, mileage, usage and type of activity (road, track, European), etc could more accurately identify risk across a group (LEC) of same classic car enthusiasts together with the volume business and secure preferential terms from an underwriter. The alternative, which we see annually, is the free for all - individual proposal without negotiation - take it or leave it approach - that lumps all sportscar drivers as high risk boy racers (and girl racers) and produces the wide range of premiums.

This would not be a group buy where everyone paid the same premium but rather having established a realistic base premium each of us would submit a proposal of their own circumstances and requirements. Hopefully to arrive at a lower nett premium.

[dapinky]

To progress please post your experience of
Insurer , post code , premium , mileage limit , if agreed value , excess , modifications

Equity Red Star , SA14 8** , £285 , 3000 , £5000 , £250 , none ,
Chaucer , SA14 8** , £170 , 3000 , £5000 , £250 , none ,
Adrian Flux (Ensign) , GU 90 ** , £375 , 7000 , £12500 , £250 , none ,
Adrian Flux (KGM) , BS23 2** , £165 , 5000 , £5000 , £100 , declared , (old git with no claims!)
Marks&Spencer (FORTIS), BS23 2** , £162 , U/L , N/A , £250 , declared , (wife of ditto)

[max and andy]

What's the *** all about? A&M

[Gee0]

To progress please post your experience of
Insurer , post code , premium , mileage limit , if agreed value , excess , modifications

Equity Red Star , SA14 8** , £285 , 3000 , £5000 , £250 , none ,
Chaucer , SA14 8** , £170 , 3000 , £5000 , £250 , none ,
Adrian Flux (Ensign) , GU 90 ** , £375 , 7000 , £12500 , £250 , none ,
Adrian Flux (KGM) , BS23 2** , £165 , 5000 , £5000 , £100 , declared , (old git with no claims!)
Marks&Spencer (FORTIS), BS23 2** , £162 , U/L , N/A , £250 , declared ,
Adrian Flux (KMG) , DY13 8** , £168 , 5000 , £6500 , £150, NONE (flux quoted without adding their premium )

[Gee0]

You dont want your full post code on an open forum or you may wake up and NO elan