insurance

[gov]

We have 2 other cars as well as the Elan - never had any problems insuring our cars - bearing in mind we live in a quiet village on the IOW insurance is about as cheap as it can get - did the usual Comparethemarket.com and went with the cheapest quote for the Elan declaring 2k miles annually - paid the premium and told that to confirm the insurance I would have to phone the insurer and go through all the questions again - never did this before but went along with it and they emailed me all the documents but with the proviso that I will send them all necessary documentation they might request ie statement of accrued NCB from previous insurer ( NOT schedule or renewal letter ! ) a copy of both front and back of my driving licence and a copy of every page of my V5 for the Elan .

I couldn't send the copy of the V5 until I received it - I inadvertently send the schedule from my previous insurer clearly showing I had 10 years NCB - they emailed twice stating that this was not acceptable and if I didn't send a statement of NCB within 7 days they would cancel my insurance - anyway got a statement and emailed it to my new insurer - rang today to ensure they received it and told that whilst it is accepted I will still have to email them a statement declaring that I have not used that accrued NCB on another car since the expiration of that insurance .

this is getting a bit like an endurance contest but I think I have finally got through it all - are insurance companies tightening up on documentation requirements these days ?

[Fredjohn]

From my experience you can only use your accrued NCB on one vehicle at a time. So for example, if your Elan is a second car, your daily driver insurance will have the NCB and not your Elan. However, I may be wrong with this.

Your best bet is to ignore all the meerkats and similar internet insurance search animals and go to a specialist classic car insurers such as Footman James (others are available).


You will get a better service, agreed value cover (once proven/approved) and a discount if you belong to a club such as Club Lotus.

Good luck.

[daveiow]

Hi Tony
I insured her with Carole Nash. Classic Car Policy, 3k annual mileage, European Breakdown cover, £8k agreed value and from memory about £187.
Very simple, there is no accrued no claims bonus and you have to have a daily.
David

[Simon_P]

They got you to redo the quote so that it is a new quote the new person you spoke to gets the sale and not compare the market. so they wasted your time to get the commission.

You would be much better off getting a specialist classic car policy which doesn't require NCB and includes salvage retention breakdown cover etc etc as standard and they know wht you and they are talking about - Cancel it within 14 days and start again with a proper company.

[gov]

yes on reflection I should have gone to a "classic" insurer - coincidentally when I owned the car 8 years ago I also insured it with Carole Nash - I have had 3 cars in the past at any one time and consequently held 3 separate insurances each with a NCB of 10years which is why I went with this company ( £105 fully comprehensive ) - I have had the insurance for just on a month so wouldn't be worth cancelling and then having to pay a cancellation fee plus cost of insurance pro rata - will go back to CN next year and have an agreed valuation to avoid getting only market value in the event of write off.

just seemed a convoluted process - never before have I been asked to send copies of my driving licence and V5 log book

additionally if the unthinkable happened how would a true market value be ascertained - as a classic car values would vary between £2k for a "dog" and £15k !

[Rambo]

additionally if the unthinkable happened how would a true market value be ascertained - as a classic car values would vary between £2k for a "dog" and £15k !

That's exactly why you are much, much better going with a classic insurance company and getting an agreed value.

I have about 20 years NCD on my commercial van insurance (although they only appear to recognise 10 ) and both my M100's are insured for agreed values of 10K and 12K, 6000 miles between them, parts, salvage retention, Euro cover, plus a whole lot more for £222. That's only £111 per car. Bargain. And its with FJ

Have a look here for who's doing what with whom.......viewtopic.php?f=19&t=1379&start=360