Insurance

[stuartgb100]

Had an insane quote from Performance Direct:

max 5000 miles per year
Rural location and car garaged overnight
Modifications accepted (but didn't ask for details)
comprehensive, with ?100 excess
2 years no-claims (because of company car)
3 points (speeding) - not awake that morning !!
Agreed value of ?12500

Premium ................ ?103............. !

Extra for UK recovery = ?27.50
European recovery would have to be arranged via a 3rd party (eg AA, RAC etc).

This is a verbal quote, and I know the devil is in the detail. Nevertheless, it is half my normal quote.

Anyone any feedback from/about this broker ....... good or bad ?

Thanks.

[john.p.clegg]

Well you could try Firebond as I've had mine through them for years and just had a "refund" onto my credit card and I think they've cancelled my insurance because they haven't received the photos for the agreed value........how nice of them.....to cancel my policy without the courtesy of letting me know........anyway I'll give them a ring this morning just to check that I'm right in my assumption before I give them a verbal abusing and dump them....

Hope you have better dealings with your company/broker....

John

[nebogipfel]

I had many problems with Firebond last year, It was all a bit of a shambles and I was never confident I had the cover I had paid for - Can't recommend them

I had a very competitive quote from Sureterm last year so I suspect if they come up with something reasonable they will get my business this year.

I dread insurance renewal time every year

[worzel]

Hi All

I'm always suspicious of "cheap" quotes. As with most things you only get what you pay for. It's all very well going for the lower price (I'm no different in that respect) but here's a cautionary tale. I have another car insured thru FJ and about 2 years ago faced the problem of not being able to get hold of the correct tyres namely 205/60VR14 type. The problem was the VR rating- it appeared that these were no longer availble. HR rating was obtainable and so were 195/60 VR14 sizes.

I spoke to FJ and was assured that there was no problem. I initially accepted this but on reflection thought I should have this in writing. A couple of days later I received a reply to the effect that this was ok with the insurers provided the "wheels" were compatible with the car. I immediately wrote back pointing out that I was not in fact changing the wheels only the tyres and asked for clarification. The second reply was to the effect that they repeated their previous point ie if the wheels were ok that would be fine.

At this point I gave up dealing with the broker and wrote direct to the insurer. Guess what- they told me that actually no- these tyres would not be acceptable and that I should consult the technical gurus at Club Lotus to see what was available. I had no quibble with the insurers but it was quite clear from the letter I received that FJ had never bothered to even contact the insurer to obtain their ok. I documented all of this in a letter to the club chairman who promised he would immediately look into this on my behalf.

One of the directors of FJ apparently contacted the club chairman and the conversation went along the lines of "procedures have now been tightened up to prevent a similar future event". I was also assured that within a very short space of time either a bulletin would be sent out to all owners of this model and/or a feature would appear in the club mag.

I don't believe I've read such an article so I'll leave readers to draw their own conclusions- apparently a trivial matter of insurance cover matters less than other issues!

Now before anybody out there points out that brokers have to have insurance to cover such eventualities I am aware of this but should a major accident occur and there was a dispute with the particular insurer over this matter would any owner so affected feel particularly inclined to tangle with a large insurance company?.

Regards

John

[GrUmPyBoDgEr]

That's very interesting, them not being interested in what modifications have been made
My Zetec Elan is insured with FJ & I have to pay a fairly hefty sum compared with the usual histric insurance they offer on Elans.
Will confirm the premium I pay tonight & post tomorrow.
I would be interested to know what other Zetec owners are paying their insurance companies?
Sorry for the hijack
John

[Robbie693]

Hi Stuart,

My girlfriend has her Mini insured with Performance Direct, for about 6 years now, on an agreed value 'future classic' policy. She is quite fastidious about getting her valuation from the Mini Club but the insurers never seem particularly bothered about the fact that the value has changed. Being a modern Mini (1996) the valuation usually goes down. This makes me wonder if, should it come to a claim, the agreed value would be open to debate.

Never had any problems with them and they always come up with the most competitive (euphemism for cheap I suppose) price.

Really the only time you find out if your insurers are any good is when you make a claim, which is why I've always used Footman James. They paid out for my Plus 2 that was written off straight away, without quibble. Which to me is all I want from an insurer...

[zeteclotus]

Say you have a 1967 +2. that was sold as a kit car so surly you can fit what you like and call it standard.??? with in reason??

I don't think i have ever seen 2 early lotus's that are totaly the same,

[nebogipfel]

Really the only time you find out if your insurers are any good is when you make a claim...

So True ...........

[bcmc33]

I?ve had three e-mails from Performance Direct in the past week saying that my insurance renewal is due shortly ? I guess they must have been one of the companies I contacted last year.
I am currently insured by Chaucer Insurance through broker Carole Nash as they were the most competitive at the time at ?125.25 for 2,000 miles a year fully comprehensive with full EU breakdown recovery and repatriation, legal protection, ?100 excess and the agreed value of ?15,000.
I have to say that at the time I did advise of the known modifications to the car and was told that they did not have any affect for classic insurance purposes. Reading John?s tyre experience, maybe I shall try to get this in writing in future ? even if it?s only in e-mail form.

As per my normal car, I shall go the annual route by getting quotes from about six companies ? making sure they are quoting ?like-for-like?, and choose the most competitive.


Brian Clarke
(1972 Sprint)

[batfish]

I would never use FJ again and would strongly recommend others not to use them. I had my Elan insured through them for many years and then insured my road car, a Ford Mondeo with them, Thiefs got into my house whilst I was at work found the Mondeo keys and stole the car. Because there was no sign of breaking and entering they refused to pay out on the insurance and would not reply to my letters ect. Luckily the car was found some days later 15 miles away undamaged.

[batfish]

I would never use Richardson Hoskins again and would strongly recommend others not to use them. I had my Elan insured through them for many years and then insured my road car, a Ford Mondeo with them, Thiefs got into my house whilst I was at work, found the Mondeo keys and stole the car. Because there was no obvious sign of breaking and entering they refused to pay out on the insurance and would not reply to my letters ect. Luckily the car was found some days later 15 miles away undamaged.

[worzel]

Hi Again

I forgot to mention a comment I received from somebody who worked in the insurance industry at the time I had the "little problem" over tyres.

Most of you probably know this but his first comment was"anything considered a material fact MUST be notified to the insurer". He suggested that irrespective of the broker this agreement to accept changes etc is obtained from the insurer IN WRITING.

On a related note I circulated my experiences on another site and quite a few told me that they'd obtained verbal agreement only from their respective broker(s).

I'd say it's probably not a wise move to rely on hard to prove agreements!

[GrUmPyBoDgEr]

As threatened yesterday,here's what I'm paying FJ for my Zetec Elan.
The insurer is NIG Ltd (CS) whatever all that means?
Premium is ?383.70 inclusive I.P.T., whatever that means?
Excess ?150
Agreed value ?1500
Mileage unlimited
Comprehensive cover

Policy is called Historic vehicle & also Specialist vehicle policy?
They cannot offer my limited mileage although the car covers very few per year!

Can I do better

Cheers
John

[types26/36]

Agreed value ?1500
Can I do better

Oh yes! I will give you ?3000 for the car.....twice its agreed value

[tower of strength]

I used Footman James 3 years ago, a 130/5, 37yrs, drive way parked, fully comp ?5000 value, no mileage restrictions but as a second car and that was ?103. My spitfire at the same time was ?120!!. I was running a company car at the time.Niether were garaged.

I'll find out what the deal is in a month or so for my current one.