Insurance Premiums and Prices

[fxm911]

Thanks for this thread as just had a good look at my policies etc and swapped to Classicline as well. Increased mileage and value of car but still got my premium down by £170 compared to ERS who I had been with years !!!

[Type911]

And you still will be with ERS through ClassicLine I bet!

Just done my fleet with them, £1700

[Busybee]

AIB I’ve found pretty good on insurance. Targa insured for £50k agreed valuation, 3k miles, breakdown including Europe.  £135 a year. 
 

[Roy M]

My renewal with Locktons is due. Had a quote from Classicline which comes out cheaper than my renewal so gave Locktons the option to revise their quote. Got this in response:

Hi Roy,

 

Thank you for your email.

 

Checking your policy I can see that your premium has not increased since 2018. Lockton are not always the cheapest on the market, however our level of cover is far superior to other insurers.

 

Please can you confirm what the target rate is and who we are competing against and I will revert back to our underwriters for possible further discounts.  

 

Also please confirm which of the following existing benefits with AXA XL Insurance are included in your alternative quote:

 

·         Automatic cover for Porsche Owners Club track days ( Policyholder only )

·         Agreed Value cover

·         Nominate your own repairer in the event of a claim including windscreen

·         Comprehensive driving of other cars not belonging to you or a household member

·         Any driver over 35 not residing with the policyholder

·         Where available only genuine parts will be used following a claim

·         UK & European Breakdown cover inc Home Start

·         Nil excess in the event of a total loss claim

·         Guaranteed courtesy car

·         No administration fees charged for any changes throughout the year

Kind regards

Am I wrong in taking umbrage at this?

 

 

 

 

 

[70sThrowback]

does the cover compare? Or are they correct in that their insurance is superior?

[Roy M]

For things I need cover is the same. Maybe I shouldn't be so sensitive!

As far as I'm concerned I've given them the chance to revise their quote because I've been with them for years but I'm not giving them free market intelligence!!

[70sThrowback]

It does feel they are saying take it or leave it, up to you. I just wondered if they were right in that assumption, sounds like perhaps not. But they are definitely not fighting to keep you.

[Busybee]

Lockton's is undoubtably very good cover. Near Hiscox High Net Worth Policy for full on coverage. But it comes at a price. If you just want agreed valuation, breakdown, limited miles, no trackdays etc, Classicline or AIB etc are always going to beat them. Perfectly adequate at a lower price. 

I have one car with Lockton's. Gives me all the fringe benefits of driving other peoples cars etc. The rest are on agreed valuation policies with AIB. 

I think they are just trying to tell you why they are more expensive maybe 

[MarkJ]

funny enough they gave me the same sort of reply a couple of years ago when I questioned why their policy had suddenly ramped up and I presented them with similar but cheaper quotes from their competition. I think once they became the insurance face of PCGB they got greedy. They are decent service wise though, so if money isn't an issue you get a fairly premium service. With 3cars to insure, it was just too much money for me to continue with them. 

[Type911]

On 15/05/2021 at 15:37, Roy M said:

My renewal with Locktons is due. Had a quote from Classicline which comes out cheaper than my renewal so gave Locktons the option to revise their quote. Got this in response:

Hi Roy,

 

Thank you for your email.

 

Checking your policy I can see that your premium has not increased since 2018. Lockton are not always the cheapest on the market, however our level of cover is far superior to other insurers.

 

Please can you confirm what the target rate is and who we are competing against and I will revert back to our underwriters for possible further discounts.  

 

Also please confirm which of the following existing benefits with AXA XL Insurance are included in your alternative quote:

 

·         Automatic cover for Porsche Owners Club track days ( Policyholder only )

·         Agreed Value cover

·         Nominate your own repairer in the event of a claim including windscreen

·         Comprehensive driving of other cars not belonging to you or a household member

·         Any driver over 35 not residing with the policyholder

·         Where available only genuine parts will be used following a claim

·         UK & European Breakdown cover inc Home Start

·         Nil excess in the event of a total loss claim

·         Guaranteed courtesy car

·         No administration fees charged for any changes throughout the year

Kind regards

Am I wrong in taking umbrage at this?

 

 

 

 

 

 

It would be good to know if Classic Line offer this level of cover

[njpcarrera32]

Got my renewal quote from Carole Nash today. Reduced from £269 to £161 with no prompting. No changes in cover.

[Chris_911]

Just had my renewal from Lockton.

Hmm.. pricey??

£345, 3000 miles, AV of £65k

[Chris_911]

Maybe not..

Classicline just quoted me £332.

[Wingnonut]

MY current premium with Classic line is £291 for 5kmiles and £50k AV. Just renewed my 2 year agreed valuation and it is now £62k to which they said they could change in the current policy for an extra £12 for the remaining 6 weeks of the policy. I told them not to bother but use the new AV for the renewal so I am expecting a shock and to have to do some shopping once I get the renewal offer from them at the start of March.  Been with Classic Line for ages (pre IB) so would hate to move but not at any cost.

God knows why Im on 5kmiles! I did 1100 this year 😔

[apesman]

Ageas Insurance via Footman James, agreed valuation £100,000, mileage 2000 per year Premium £229. 

[Busybee]

12 minutes ago, apesman said:

Ageas Insurance via Footman James, agreed valuation £100,000, mileage 2000 per year Premium £229. 

I've seen a couple of people post about good rates from FJ. They also do a multicar policy I believe. I'll be trying them on the next renewal I think. 

[Type911]

29 minutes ago, Busybee said:

I've seen a couple of people post about good rates from FJ. They also do a multicar policy I believe. I'll be trying them on the next renewal I think. 

Think I will give that a go too! Im with CL and its about £1700 on a group policy

[Wingnonut]

As expected CL came in with an increased premium. £290 last year £325 for renewal so not actually as bad as expected.  Got a quote from FJ and on 3kmiles they were £250 at £62k AV. CL was on 5kmiles so gave them a ring, Changed the miles to 3k and mentioned The Sheriff and my GruppeIB status and bingo £232 without even mentioning the FJ quote. 

As an aside, I gave RH Insurance a go as I used to use them years back. They use ERS just like CL but their quote was £530!

[Chris_911]

Quote from Footman James on a comparable basis = £320.

Think I'll be sticking with Lockton.

[ROBINWILD]

Just had my renewal offer this morning.

Mine is with a broker called A I B ( Airsports Ins. Bureau ) and U/Written by KLG Classic Car.

40000 AV, 3000 p/a £197.50, down from £210.00 last year. Going to up the value to 45000 and see if that changes anything.

Anyone else had experience with this Co. ?

[Sidewaysfun]

Hi Robin, yes I insure my Escort Cosworth through AIB.  Couldn't get it cheaper anywhere else, especially with all modifications declared.

[ROBINWILD]

Just had my renewal offer this morning.

Mine is with a broker called A I B ( Airsports Ins. Bureau ) and U/Written by KLG Classic Car.

40000 AV, 3000 p/a £197.50, down from £210.00 last year. Going to up the value to 45000 and see if that changes anything.

Anyone else had experience with this Co. ?

 

A quick phone call and got it down to £185.64 with £45000 AV and 3000 miles p/a. Perhaps worth having a look at them for some of you....

[Chris_911]

Finally got a quote from AIB.

£299.43

Although cheaper than my renewal there is a question mark in that the valuation is 'subject to approval by our underwriters'.

I think for the £46 difference I'll stay where I am.

[Henry]

Classicline  renewal £420 ,  Footman James quoting £297    ,though no track days included but can add later if needed  ,5000m pa . 911SC 3.6 @70K  . Looks like I will be switching .

[Wingnonut]

Henry. Give CL a call and they will no doubt drop it. They drop significantly when I got a shock at renewal time and gave them a call to cancel.