Insurance

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  • 11th May 2021 at 9:33 am #28305
    Dave Thornley
    Participant

      With a traction possibly on the near horizon, finally, I need to think on insurance. Now I currently insure a standard car so which of the following would have merits over other options?

      Insure the Traction with my other car insurer,

      Move both cars to a classic insurance company.

      Have 2 separate policies

      11th May 2021 at 11:55 am #28310
      Patrick Russell-Jones
      Participant

        Hi David

        I’d go for separate policies, you should get a better deal for the classic.  Multi car cover might not offer sufficient discount to justify combining the two. You might also get charged a fee for adding to your existing policy unless at renewal. If your other car is 15 years old or more you might be able to put that on a combined classic policy. When it comes to policy renewal it’s easier to shop around with two policies given that loyalty counts for very little with the insurance companies.

        Patrick

        11th May 2021 at 12:35 pm #28311
        Bernie
        Participant

          David,

          I now need to have a wheelchair accessible vehicle so I have ended up with 2 classics and 2 modern cars.  This time round I found it worth changing to a multi-car policy – but only because my specialist Classic insurer was doing it.

          There is a small saving but it is very small and the main advantage for me is the reduction in “admin”.  So, unless you have a “fleet”, I would agree with Patrick.

          B….

           

           

          11th May 2021 at 1:42 pm #28314
          Dave Thornley
          Participant

            Thanks for the replies guys. Other car is 14 years old and you are right when you mention loyalty and insurance companies in the same breath. I thought I would ask the question as this morning received renewal on car only gone up 65% and got the usual patter when I queried that. I wondered about  having both cars on same policy and how NCBs work then.

            I will start touting around for a more sensible price on current car.

            Thanks

            11th May 2021 at 2:05 pm #28315
            Bernie
            Participant

              Classic vehicle insurance does not always embrace a No Claims Bonus but often offers other “advantages” which can be better for such vehicles.  Personally, I have been very happy with Footman James’ service and product for several years but it is definitely worth shopping around.

              B…

              12th May 2021 at 7:53 am #28316
              Dave Thornley
              Participant

                Would agree as have been quoted under £150 for current car, bit different to £435. I knew my previous insurers were not the cheapest but I stuck with them to save faffing about every year. They have shot themselves in the foot this time around.

                11th April 2022 at 8:32 pm #29825
                Dave Thornley
                Participant

                  Am back on the insurance roundabout. Why are classic car insurers so obsessed with having to ring you. One fills in the online form to be told we need to speak to you where they ask the exact same questions. I have an excellent breakdown arrangement but most of these classic insurers lump one in with it anyway. I just do not understand that.

                  22nd April 2022 at 10:46 am #29839
                  Dave Thornley
                  Participant

                    The insurers do not seem to have changed much, still needing a chat, heaven knows why. On the matter of a guaranteed figure I am being asked to provide 6 photos  which will be assessed, for this priveledge I am to be charged £24. This figure will be valid for 2 years. Does this sound reasonable? And by what do I inflate my desired figure by. I know she is worth around £15k so a guaranteed figure of say £17k. I have no idea having never had a guaranteed figure before.

                    23rd April 2022 at 7:08 pm #29840
                    Bernie
                    Participant

                      David,

                      The request for pictures is normal, I am asked to submit pics every few years but the £24 charge for processing same sounds a bit of a con.  I supply them on-line and back up by sending a disc and have never had a cost itemised separately. – However it could well be included/hidden in the total cost, I suppose.

                      The agreed value is up to you but 17k is probably reasonable if you believe the car would sell for at least 15k. Just remember, the greater the agreed value, the higher the premium.

                      B….

                      11th May 2022 at 3:33 pm #29862
                      Dave Thornley
                      Participant

                        Promise this will be last comment on insurers. Maybe poignant as you mention Footman James. I got a quote from them and then another quote for a non fault accident I had in February. Difference in quotes 30% even though accident not my fault proven by 3rd party admitting fault and my NCB not being affected. Queried this with FJ and answer is underwriter prices quote as if accident was my fault. How stupid is that!

                        • This reply was modified 2 years, 1 month ago by Dave Thornley.
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