Insurance (uk)

[ashm]

Thanks for mentioning 2gether Insurance
£180 for the year, based on £6k agreed valuation, legal cover, 1500 miles, brake upgrade, closed loop conversion & chip, no voluntary excess and only £100 compulsory excess.

Thought this was excellent considering I've no applicable no-claims (that stays with the daily driver) and several incidents in the last 5 years, including the complete writeoff when a Jag totalled my previous Elan.

Importantly for me, the chap on the phone was friendly, efficient and easily understood; I was all done in 5 minutes.
Also, he gave me a discount for mentioning LEC membership and that I found them via a recommendation here - always remember to do this!



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[Rice crispy]

Great news

Thanks for mentioning 2gether Insurance
£180 for the year, based on £6k agreed valuation, legal cover, 1500 miles, brake upgrade, closed loop conversion & chip, no voluntary excess and only £100 compulsory excess.

Thought this was excellent considering I've no applicable no-claims (that stays with the daily driver) and several incidents in the last 5 years, including the complete writeoff when a Jag totalled my previous Elan.

Importantly for me, the chap on the phone was friendly, efficient and easily understood; I was all done in 5 minutes.
Also, he gave me a discount for mentioning LEC membership and that I found them via a recommendation here - always remember to do this!



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[Fredjohn]

Just re-insured both Elans on a single policy with Peter James for £364. This includes European ins and UK and European breakdown, unlimited mileage, agreed value on old one and brake/engine chip upgrades on new one.

I had been with Footman James for 15+ years and they couldn't/wouldn't do any better than £463!!!! Last year I paid £394. Classicline also quoted about £370, but I chose to go with Peter James.

Always worth getting several quotes: up to now I had stuck with Footman James because they had always been well priced: not this time.

[muley]

Renewed mine last night £180. With .. .. Saga!

[inkitin]

Renewed mine last night £180. With .. .. Saga!

Saga!!!!!! Really!!

The one and only time I've ever asked for a quote off Saga was, by telephone, some years ago looking for insurance on a Fiat Punto for my wife. After me giving all the details to a very nice lady, she came back with a quote of £1500 for the year. Hearing my gasp she asked "are we in the right field?" My reply was "well, I can just about see the floodlights poking above the horizon". The phone call didn't last very long after that!

[RayD]

Following Dave's escapade with the insurance I was left with the impression the agreed value meant very little.

While renewing mine today with the same underwriter but a different broker I ask the question and was told if the car was wrote off I would get 100% of the agreed value.

He explained how it was an optional extra, relying on the customer keeping it up by supplying a new valuation and 6 new photos every two years ... otherwise it would revert to a none agreed value.

Ray

[GeoffSmith]

Mine's with Adrian Flux and went down from £270 to £250 this year (still agreed value of £10k and 5000 miles). I rang them to ask for a mileage reduction and dropping it down to 3000 miles made a difference - as did informing them that I'm now part time so my commuting is 60% of what it was previously. Don't forget this all you pensioners.

[Rambo]

I think you've qualified for the "old git" discount for a couple of years now Geoff

My insurance is with 2gether and is for an agreed value of £5000, 3000 miles and includes any modifications. It only costs £125 so there is an advantage of being an even older git

[RayD]

Mine's with 2gether Mark ... presumably your valuation is up to date? (See Above)

Ray

[Rambo]

Hi Ray - yes, my details are up to date. I have to supply them with a new set of photos next year. 2gether seem to be very good for my purposes.

[RayD]

Question ...

What's the general opinion on how the value of the cars has changed over the passed two years ... for insurance purposes ... do you think they have remained the same, gone up slightly, or gone down.

Thank you

Ray

[TrevorB]

Question ...

What's the general opinion on how the value of the cars has changed over the passed two years ... for insurance purposes ... do you think they have remained the same, gone up slightly, or gone down.

Thank you

Ray

I had 'Merlot' valued at £5500 from photographs provided to the insurer. I've been thinking similarly and wondered whether next time
I'm due for renewal whether to get her valued. Hopefully there will be a response from a member with far more experience in this
matter. Personally as we move into the 25th anniversary it will mean that the value goes up for our beloved cars.

Trevor

[inkitin]

Question ... What's the general opinion on how the value of the cars has changed over the passed two years ... for insurance purposes ... do you think they have remained the same, gone up slightly, or gone down.

I don't really know the answer to that question Ray. I've just renewed my insurance and, at the same time, had to get the agreed value evidence updated and they've accepted the same value as two years ago.

I had 'Merlot' valued at £5500 from photographs provided to the insurer. I've been thinking similarly and wondered whether next time
I'm due for renewal whether to get her valued. Hopefully there will be a response from a member with far more experience in this
matter. Personally as we move into the 25th anniversary it will mean that the value goes up for our beloved cars.

All I can say Trevor is that my insurance has an agreed value of £6,500, this on the evidence of my submitted photographs and my declaration of condition. It's difficult for me to judge solely from your photos but I would almost certainly put Merlot above mine overall !!

[epipete]

Question ...

What's the general opinion on how the value of the cars has changed over the passed two years ... for insurance purposes ... do you think they have remained the same, gone up slightly, or gone down.

Thank you

Ray

My tuppence worth, for what its worth is if the condition has remained the same (albeit with a few miles added) then it will be just as desirable (or otherwise) as before and its value will/should be unchanged, whereas if its been looked after and improved it will, perhaps, be more desirable and may therefor be of increased value, the converse, of course, is also true!

[dapinky]

I can't comment on specific cars, but from my recent (not-too-nice) experience, an 'agreed value' should be asked for that YOU are happy with - as long as the insurance company think it's reasonable, and you have good photos and 'condition report' they will accept it - and base the premium on it accordingly....

...without an agreed value, the hassle factor is increased accordingly (in event of a claim).

According to Alan Morgan at CL, ANY elan with an MOT but needing work is worth at least £3.5K (insurance-wise, not retail sale!), and improvements, good maintenance, nice paint etc put the price up.

Personally, mine will have a £7.5 agreed value when it gets renewed (but it'll have had a respray by then) - and i would be looking at £5k-£6 as it is.

[RayD]

Thanks for the answers ... I too thought they had remained the same over that period.

I probably underestimated mine when I put the value on it three years ago and intended adding £500 this time but the original amount is already on the 2014 policy details so I'm leaving it as it is.

Roland pointed out to me they seem to charge the same whether it has an agreed value or not. They certainly wouldn't reduce the premium if you failed to supply the valuation and the new photos ... it would just revert to a none agreed value policy.

With regard to the likelihood of them keeping to the arrangement ... in the schedule it says ...

"Should we declare the vehicle a total loss we will pay you this amount less any policy excess applicable"

Ray

[SteveB]

I have insured with Adrian flux for about the last 6 years. 3000 miles agreed value of £8000. Each two years I supply the required photos and a brief description of work that has been done on car. They have never queried the value. This year I did the usual photos and described of what I had done to car but maybe not in as much detail as I should. They have come back with the statement that after research they agree the value at £6500, not the £8000 I asked for. They say if I disagree I need an independent valuation ! I think they have just had a look at auto trader and not taken into account the condition of my car. I'm sure I could buy another Elan for £6500 but not in the condition of my car. As I have paid this year's insurance , they sort out the agreed value once you have signed up for another year I'm not sure where to go next. Maybe £6500 is a fair valuation ! An independent valuation would cost me more money !

If we can't insure our cars for what they are worth I wonder if they are worth having. With the idiots that seem to be on the road is it worth the risk ?

Any thoughts ?

[Fredjohn]

Steve
Does seem very odd that after 2yrs at £8000 they decide on a lower value. However it should not cost you to get an independent valuation. Just submit all the car's details to Club Lotus and they will provide the valuation: I am sure this does not cost anything provided you are a member.

Alternatively go elsewhere next year: I changed my insurer last time after 15+ years because they failed to be competitive, and wouldn't match other companies quotations.

Good luck.

John

[dapinky]

Steve,

Having a valuation from CL costs a few quid (I think it's about £25) - alternatively Paul Matty will do you a valuation for the same sort of price.

I feel your pain, having had to make a claim last year for the red car.

In the end, the insurers agreed with an independent valuation from my local car club (Somerset Classic and Track Club) - and the Technical Officer at the club does quite a few valuations for various insurers (Usually Herritage, but others as well) - so their valuations are 'accepted' by many.

There is no charge for a valuation, and annual membership is £20 a year - so it can cover itself (Herritage offer a 15% discount for membership as well).

(and yes, this may be seen as unashamedly advertising a club for which I hold the possition of Chairman - but such is life )

[SteveB]

It dose seem odd that suddenly they decided after having agreed on £8000 for the last 6 years that it's only worth £6500. This is the fourth time I have had to send pictures and give them details they already have ! They seem very interested in what I paid for the car, I got a bargain ! I was lucky, car had rusty wish bones all round but had had a very high quality re spray ! I wondered if I was just being unrealistic about the cars value ? I have spent the last 8 years rebuilding bit by bit, suspension, chassis, brakes, steering, cooling, engine, bits of trim, it's probably worth what they value it at in parts ( don't tell my wife though ). While it's not concourse standard it's a good clean (never take it out in the rain ) unmodified example of a 91 SE. As you say I think I will be changing company next time but in the mean time will look into getting it valued.