Insurance..is this premium good?

[Geoffers71]

I've just taken out insurance on the Elan ( 1965 S2) with the same company (RH) that covers my Scimitar. Premium is ?65 for an agreed value of ?35k and 3000miles/year. This seems a very reasonable price to me, just wondering what others think? The valuation is from Club Lotus based on the restoration work done and current photographs. Might that be a touch low?

[weddingcarclive]

Premium sounds good, I have been with RH for over 20 years now continuous, and they don't inflate the premiums each year, the other bonus is if you suffer a total loss you keep the car , maybe check on asking prices in classified ads regarding valuations as insurance companies will only pay up to the replacement value, not like a house which has a rebuild value

[512BB]

Geoffrey,

You have not given any detail as to what is contained in your policy, for anyone to form an opinion on the price, other than to say that ?65 seems ridiculously cheap for an all singing, all dancing policy.

Be careful, you do not want to NOT be covered properly.

Leslie

[weddingcarclive]

Most of RH policies are underwritten by Equity Red Star which are available from other brokers but RH being the official Rolls Royce Enthusiasts Club preferred & recommended insurers have managed to secure better terms than other brokers who deal with Equity Red Star, but any doubts whatsoever ask them ! Friends of mine unfortunately having had to make claims from Equity Red Star have been pleased with claims handling which really is what counts in the long run, indecently I have no commercial interest in RH or Equity just a satisfied customer as I said for over 20 years with at present 6 classics with them

[elanman999]

Hi,
Someone else on this site was saying what a good salvage option RH had. I then read their policy document on their web site and found in the exceptions list:-"it has been left with the windows, roof panel or the roof of a convertible vehicle open;".
In effect this means that a soft top car left with the hood down is uninsured for theft. I spoke to them on the phone and they were extremely vague as to exactly what this meant.
Buyer beware!
Cheers
John

[Concrete-crusher]

Hi I have just insured my s4 with Lancaster , 1500 miles and ?200 excess , the premium was ?100.45 , which I thought was good but reading the thread I,m not sure now.

Steve

[richardcox_lotus]

Hi John - I've just switched to RH as well & noticed that clause....

So if I go to an event and show the car in a public area I'm uninsured ?

Regards
Richard

[weddingcarclive]

Hi Steve & John
Steve.
It would be interesting as to when you receive your certificate to see if you have been placed with Equity Red Star, as Lancaster also use them.

John.
The issue of policy clause relating to windows, roof panel, and hoods being in open position is very interesting and enlightening for everyone, I applaud and praise you for bringing this to our notice, we all need to digest this and keep it in the back of our mind just in case the worse happens to us, we all now would never ever leave our vehicle unattended with any of these orifices unfilled to allow a clause in policy to fill our lower rear end orifice. it reminds us that also if you hand your keys over for a test drive then in the eyes of the insurance company that a theft has not been committed but just a loan of your vehicle to the offender
Cheers John

[jimj]

I always leave the doors unlocked, whether the roof is up or down, when parked. I don`t want some oik ripping the roof to see if there`s anything inside worth stealing, which there isn`t. I`m guessing the theft of the whole car is quite rare and, once it`s gone, who knows?
Years ago I remember seeing a parked, hood down, MX5 (Miata). The owner had left the, empty, glove box wide open to show there was nothing. What a good idea.
Jim

[weddingcarclive]

Yes ! I too never lock a canvass roof car, let em have a mooch around without the cost of damage for them to do so, maybe leave 1 penny for their trouble ho ho

[denicholls2]

Hi,
Someone else on this site was saying what a good salvage option RH had. I then read their policy document on their web site and found in the exceptions list:-"it has been left with the windows, roof panel or the roof of a convertible vehicle open;".
In effect this means that a soft top car left with the hood down is uninsured for theft. I spoke to them on the phone and they were extremely vague as to exactly what this meant.
Buyer beware!
Cheers
John

Living in the colonies, I've been led to understand that sunny days do not exist in the Queen's realm. Is this incorrect?

[denicholls2]

I always leave the doors unlocked, whether the roof is up or down, when parked. I don`t want some oik ripping the roof to see if there`s anything inside worth stealing, which there isn`t. I`m guessing the theft of the whole car is quite rare and, once it`s gone, who knows?
Years ago I remember seeing a parked, hood down, MX5 (Miata). The owner had left the, empty, glove box wide open to show there was nothing. What a good idea.
Jim

I hope this works for you. Reminds me of a co-worker who did similar with his Alfa Spyder that was carrying an exotic sound system. We peeked out the window of the building one day to discover a would-be perp prying the gap of the unlocked door with a large screwdriver. Did quite a bit of damage. Don't assume your thief will assume your logic and try the door first...

[elanman999]

Richard,
I cannot answer your question, you need to ask RH, make sure they answer in writing. As you go to shows you also need to ask them if their insurance includes public liability while you are there. Most classic policies do, but ask.

At the end of the day an insurance company is a business. The money in (premiums) must be greater that the money out (claims,fraud,admin etc). If the premium is that cheap they are making it back somewhere else.
With a clause like that in their policy document you know you'll have a fight on your hands if you make a claim for theft of the vehicle when you've left the top down.
Cheers
John

[512BB]

Of course, should the worst happen, you would never tell your insurers that you left the vehicle with the roof down, window open, doors unlocked, even if you had.

Why make a rod for your own back ?

Leslie

[Chancer]

Richard,
If the premium is that cheap they are making it back somewhere else.
John

OK its cheaper than the others but they all are a fraction of the price to insure a modern vehicle, classic vehicles and their owners are a very good insurance risk.

I'm not sure that being ?30 cheaper is too cheap, it could just be the normal variances for insurers in a niche market who add a loading outside of their target profile.