General Talking of insurance

[fiat500]

The cost of insurance premiums comes up a lot on this forum. I'm astounded how much classic car premiums have risen this year. I shopped around and found very little price difference between online brokers. The significant best price carries a lot of detailed caveats. I have to produce a mileage evidence certificate, proof of no-claims (not sure if that means claims attached to this car or more generally), and details of the huge performance upgrade to the engine, ( 95 additional cubic centimetres!)

There is definitely a keenness from brokers to get my business; all of them followed up my on my online enquiries first thing the morning after, so I'm sure they know they are onto a good thing. Being member of "a forum" seemed to help with the price.

The successful broker checked previous MOT's to see mileage, and were slightly flabbergasted to see the 7000 miles travelled between the last two MOTs. Things have calmed down noticeably since the MOT became optional, and I was able to assure them that 2000 would be plenty for my needs over the next twelve months. Then I realised that as I will retire next February, perhaps I will need a mileage top-up....I hope so.

Anyway, £123 for the year was a good saving against the renewal price of £173...so it's worth shopping around.

 

[the hobbler]

The cost of insurance premiums comes up a lot on this forum. I'm astounded how much classic car premiums have risen this year. I shopped around and found very little price difference between online brokers. The significant best price carries a lot of detailed caveats. I have to produce a mileage evidence certificate, proof of no-claims (not sure if that means claims attached to this car or more generally), and details of the huge performance upgrade to the engine, ( 95 additional cubic centimetres!)

There is definitely a keenness from brokers to get my business; all of them followed up my on my online enquiries first thing the morning after, so I'm sure they know they are onto a good thing. Being member of "a forum" seemed to help with the price.

The successful broker checked previous MOT's to see mileage, and were slightly flabbergasted to see the 7000 miles travelled between the last two MOTs. Things have calmed down noticeably since the MOT became optional, and I was able to assure them that 2000 would be plenty for my needs over the next twelve months. Then I realised that as I will retire next February, perhaps I will need a mileage top-up....I hope so.

Anyway, £123 for the year was a good saving against the renewal price of £173...so it's worth shopping around.

Very interesting Peter. I pay a bit more than that, have a 3,000 mile limit per annum and a guarenteed "Full value" re-imbersment if the car is damaged to the point that it is considered a "write-off"

 

[Dan at Adrian Flux]

Hi.
If anyone does need any help with insurance at all then please feel free to drop me a line.
Regards,
Dan.

 

[the hobbler]

Hi.
If anyone does need any help with insurance at all then please feel free to drop me a line.
Regards,
Dan.

Thank you for that Dan, useful to know. No disrespect to you Dan, but Insurance companies seem to come up some strange (to 'normal' people), and in some circumstances, slightly under-hand practicies, in order to gain just a few more sheckels into their coffers, and "Joe Public" has no answer to it. Some time ago my "wee beastie" was assaulted in her rear--engine cover damaged, engine-cover support struts badly bent and the 'Abarth' rear number-plate frame broken. I was VERY lucky in that although the lady pushed me well into a main road, no cars, or more importantly, buses came along and also clouted me---where she pushed me into the main road was only about 50 yds from a bus-stop on my left---a bus would have cleaned me out! Her insurance company accepted responsibility without argument (difficult not to as there was a large dent in her car's bonnet!) and the repairs were carried out without any problem. HOWEVER, when it came to renewing the Insurance on my Skoda Fabia I found that MY insurance company (for the Fabia) was underwritten by HER Insurance company, so as my name had 'flagged up' £20 was added to my premium. This was despite the fact that the Abarth and the Fabia are insured by totally different companies, and the Fabia was not involved in any way in the accident---Dick Turpin would have been proud of that move. I was NOT a happy bunny!

 

[Goldnrust]

Maybe I’m not old enough yet, anything sub £250 is a bargain to me! Haha. My daily driver and modern Abarth are 2-3 times that!

I’m with Classicline for my 500, was in the region of £150 this spring. I’ve been with them on various vehicles and they’ve been helpful with modifications declared and offering me business cover. Thankfully I’ve not had to claim so can’t comment on that experience!

 

[lazylobster]

With Adrien Flux last payment was £100. See what it is on renewal. . .

 

[Ant Knox]

I wonder how/if the steadily increasing number of classic car electric conversions wil have an impact on insurance costs? It would surely mean they would need to be covered under a 'modified vehicle' policy, given the significant changes in power, weight and value; I hear rumours too that insurers are quicker to write off EV's do to the complexities of parts sourcing and economics.
My 'daily' an Alfa Giulia has gone through the roof with insurance costs over the past couple of years, in part down to the 'nick-ability' of them (less than a minute with a laptop!!). I wonder what's pushing classic policies up? Theft? Ulez? Driver demographic?

 

[fiat500]

Thank you for that Dan, useful to know. No disrespect to you Dan, but Insurance companies seem to come up some strange (to 'normal' people), and in some circumstances, slightly under-hand practicies, in order to gain just a few more sheckels into their coffers, and "Joe Public" has no answer to it. Some time ago my "wee beastie" was assaulted in her rear--engine cover damaged, engine-cover support struts badly bent and the 'Abarth' rear number-plate frame broken. I was VERY lucky in that although the lady pushed me well into a main road, no cars, or more importantly, buses came along and also clouted me---where she pushed me into the main road was only about 50 yds from a bus-stop on my left---a bus would have cleaned me out! Her insurance company accepted responsibility without argument (difficult not to as there was a large dent in her car's bonnet!) and the repairs were carried out without any problem. HOWEVER, when it came to renewing the Insurance on my Skoda Fabia I found that MY insurance company (for the Fabia) was underwritten by HER Insurance company, so as my name had 'flagged up' £20 was added to my premium. This was despite the fact that the Abarth and the Fabia are insured by totally different companies, and the Fabia was not involved in any way in the accident---Dick Turpin would have been proud of that move. I was NOT a happy bunny!

That shows just how joined-up their database obviously are, yet the companies do things such as demanding that we do admin to chase up previous insurers for evidence of no-claims etc., when they could undoubtedly find that out by tapping a few keys.

 

[giardini]

That's all a bit outrageous, although in this country too, enquiring about premiums to x companies about coverage for the same vehicle will turn up
x wildly differing quotes for no discernible reason.
Fortunately there's one that caters exclusively to classics, with a really simple premium scheme, first vehicle (in my case a '79 MotoGuzzi 850) pays 72 Euro
annually, each additional vehicle (i.m.c. the Giardiniera) is 27 Euro on top. That includes road side assistance and towing.
I would conclude that those premiums make it a viable business proposition for the company, and anything more is whatever the others can get away with.

 

[Bigvtwin996]

I had an instance when my van was stolen... I knew it would turn up....
so decided not to make a claim (but reported the theft to the Police and that case was closed within 30mins - great Policing policies), in addition the increase in premiums across the board would more than cover the van value within 3 years..
I then recieved an email from a company claiming to represent my insurer regarding "my claim"..
Hang on!!! What Claim!!!
"we did it on your behalf so we will manage everything for you at no cost"
It turns out that bottom feeders have access to the Police/Insurance data base that details all reported vehicle thefts/accidents..
"Really Free or you add your charges onto the insurance claim that I have not made"
Several week of quoting various laws (like requiring a persons permission before acting on their behalf) the Claim was closed..
However a "Claim" was not present on the MID..
I stated that when my renewal came up I would answer "no" to the question have you ever made a claim, but the MID would show that a claim was recorded - but not by me...
Many threats of legal action were made and letters to the Police as they stated they had not told the 3rd party of the accident (which was claimed)
I fnally recieved a letter of appology and assuranced that the "Claim" was to be removed from the database..

 

[fiat500]

I had an instance when my van was stolen... I knew it would turn up....
so decided not to make a claim (but reported the theft to the Police and that case was closed within 30mins - great Policing policies), in addition the increase in premiums across the board would more than cover the van value within 3 years..
I then recieved an email from a company claiming to represent my insurer regarding "my claim"..
Hang on!!! What Claim!!!
"we did it on your behalf so we will manage everything for you at no cost"
It turns out that bottom feeders have access to the Police/Insurance data base that details all reported vehicle thefts/accidents..
"Really Free or you add your charges onto the insurance claim that I have not made"
Several week of quoting various laws (like requiring a persons permission before acting on their behalf) the Claim was closed..
However a "Claim" was not present on the MID..
I stated that when my renewal came up I would answer "no" to the question have you ever made a claim, but the MID would show that a claim was recorded - but not by me...
Many threats of legal action were made and letters to the Police as they stated they had not told the 3rd party of the accident (which was claimed)
I fnally recieved a letter of appology and assuranced that the "Claim" was to be removed from the database..

That's terrible....and backs up what I strongly suspect...that the insurance companies are a cabal who have access to all of our details and choose to share information when it suits their needs.