Hybrid Z insurance

[Ian]

So this one is for those owning hybrid Z's which are therefore both a classic and a performance modified car with a fairly high value and expensive parts.


Hard to find a decent quote, needs to cover the Z for a high value and cover the modification also, ideally an agreed value.



Who do you use/recommend?






Also, how do you value a car like mine? Its pretty mint as far as Z's go, still has an original style and with the high level of work carried out and top quality parts its worth a fair amount of money but only to the right people.

Spent £***** on parts on top of the price of the car so I want to be sure to get a decent amount if the worst should happen, even if it means paying more for insurance, I can't afford to loose £50k+ just like that.

 

[datsfun]

Wow, is that what it stands you, 50 large?

All I can say with something bespoke as your car, you would be better off getting an independent valuer give you an assessment of what it's "worth" for insurance purposes. The challenge you face is finding someone who will "understand" the Hybrid nature and therefore worth of the car. Normally the professional valuers deal with bone stock or lightly modified examples IMHO.

 

[Rob Gaskin]

Ian, I can understand that your car has cost that much. The problem is getting cover as you say.

IMO you are insuring parts as opposed to a car i.e. you want to insure outlay as opposed to value of the whole.

How much would your car sell for £30k? That is the value you need to insure because anything else is not going to be quantifiable IMO.

Try Classicline in Hinckley, I use them.

The cold facts are 'original' is a lot easier to value.

 

[johnymd]

It's value, for insurance, would it's replacement cost. Not its market value. That how mine is insured. Every single modified part is listed at the time of insuring and under a total loss I will be payed out ifs agreed value or the cost of having a car built to the insured spec.

A cars value is often very different from its build cost. You often see adverts for skyline and other high performance cars where they state for example: over £30k spent and are selling for say £15k.

 

[richiep]

IMO you are insuring parts as opposed to a car i.e. you want to insure outlay as opposed to value of the whole.

How much would your car sell for £30k? That is the value you need to insure because anything else is not going to be quantifiable IMO.

Try Classicline in Hinckley, I use them.

The cold facts are 'original' is a lot easier to value.

I strongly disagree with that Rob. We've been through this discussion before. An agreed valuation should factor in the cost of replacing the car like for like, not a possible sales price, which could be lower. Otherwise, you are burning money in a total loss situation. My car is valued based on what it would cost to import a replacement S30 Fairlady Z from Japan and alter to a similar spec and quality level as my car. A lot more expensive than picking up a cheap Z import and modding, that's for sure.

Just because original is "easier to value" doesn't mean the "mod squad" should undervalue their cars.

Ian, you should be valuing based on the replacement cost with all mods declared. FYI, Classicline are mod-friendly and you can self-certify (for a smallish fee) your valuation up to a maximum of £100,000. That should more than cover your situation.

Speak to Datsun Dave too - his heavily modded RB-engined car is insured all mods declared for a valuation well above 30k if I remember rightly...

 

[Rob Gaskin]

I strongly disagree with that Rob. We've been through this discussion before. An agreed valuation should factor in the cost of replacing the car like for like, not a possible sales price, which could be lower. Otherwise, you are burning money in a total loss situation. My car is valued based on what it would cost to import a replacement S30 Fairlady Z from Japan and alter to a similar spec and quality level as my car. A lot more expensive than picking up a cheap Z import and modding, that's for sure.

Just because original is "easier to value" doesn't mean the "mod squad" should undervalue their cars.

Ian, you should be valuing based on the replacement cost with all mods declared. FYI, Classicline are mod-friendly and you can self-certify (for a smallish fee) your valuation up to a maximum of £100,000. That should more than cover your situation.

Speak to Datsun Dave too - his heavily modded RB-engined car is insured all mods declared for a valuation well above 30k if I remember rightly...

Ok fair enough and I in some ways agree however you have got to come to a figure.

I insure my 'original' 240Z for £27,750 but I'm pretty sure I couldn't replace it 'like for like'. However I paid a lot less (at a low market) so I wouldn't lose money. Of course Ian has paid out more so that's going be a different situation.

Good luck - so as I said you are really insuring personnel possessions rather than a car.

 

[racer]

Ian
I've not used them myself but, I believe Adrian Flux are good for modified cars.

 

[richiep]

Ian
I've not used them myself but, I believe Adrian Flux are good for modified cars.

There was a previous thread about the difficulties various people were starting to have with securing valuations with Flux. Seems like they might be trying to limit their exposure to more expensive cars. I'd approach them with caution (and I've got another car insured with them!).

 

[Ian]

Wow, is that what it stands you, 50 large?

Its actually slightly more than that, custom parts cost a lot as do RB26 parts and bodywork. Can't imagine the cost if I'd had to pay for someone to do the mechanical work also. Its worth it though, I love it.

All I can say with something bespoke as your car, you would be better off getting an independent valuer give you an assessment of what it's "worth" for insurance purposes. The challenge you face is finding someone who will "understand" the Hybrid nature and therefore worth of the car. Normally the professional valuers deal with bone stock or lightly modified examples IMHO.

Well, I have record of what everything cost down to the nearest penny, so I want it insured for close to what it would cost me to build another one.

Ian, I can understand that your car has cost that much. The problem is getting cover as you say.

IMO you are insuring parts as opposed to a car i.e. you want to insure outlay as opposed to value of the whole.

How much would your car sell for £30k? That is the value you need to insure because anything else is not going to be quantifiable IMO.

Try Classicline in Hinckley, I use them.

I could probably get £30k for it, but if I can get the mods insured on a like for like basis then i'd be covered well enough for the extra.

I'll have a look at classicline and see if they will cover NI (some companies don't even though its part of the UK)

It's value, for insurance, would it's replacement cost. Not its market value. That how mine is insured. Every single modified part is listed at the time of insuring and under a total loss I will be payed out ifs agreed value or the cost of having a car built to the insured spec.

Thats what I want. Sounds good, who are you with?

I strongly disagree with that Rob. We've been through this discussion before. An agreed valuation should factor in the cost of replacing the car like for like, not a possible sales price, which could be lower. Otherwise, you are burning money in a total loss situation. My car is valued based on what it would cost to import a replacement S30 Fairlady Z from Japan and alter to a similar spec and quality level as my car. A lot more expensive than picking up a cheap Z import and modding, that's for sure.



Ian, you should be valuing based on the replacement cost with all mods declared. FYI, Classicline are mod-friendly and you can self-certify (for a smallish fee) your valuation up to a maximum of £100,000. That should more than cover your situation.

Thats what I'm after, just want to get a reasonable amount of what it cost back should the worst happen.

Speak to Datsun Dave too - his heavily modded RB-engined car is insured all mods declared for a valuation well above 30k if I remember rightly...

Sounds good, I'll drop him a message.

Good luck - so as I said you are really insuring personnel possessions rather than a car.

Greenlight insurance who my other car is with insure the value of a replacement car plus the value of the mods, so it is possible. They won't insure me until I've got proof of having driven the car or another rwd car with similar power for at least a year, I'll move to them next year.

Ian
I've not used them myself but, I believe Adrian Flux are good for modified cars.

They are the only ones I'v had success with so far, I will see how the agreed valuation goes, I can still cancel for free in the next 14 days if they don't agree a value I'm happy with or I find a better deal.

 

[MikeB]

Ian

I use Hagerty and they have covered both my modified Porsches

If you need a local valuer, Trevor McIlroy would be good, I can send you contact details

 

[johnymd]

I think I'm with adrian flux at the moment and I have swapped between them and Aplan before. I normally pay around £350 including full european breakdown cover.

 

[Ian]

So Classic line don't cover Northern Ireland.

I use Hagerty and they have covered both my modified Porsches

If you need a local valuer, Trevor McIlroy would be good, I can send you contact details

From the looks of it Hagerty are more interested in mildly modified cars, not heavily modified ones like mine and they prefer over 30's.


I'll keep that in mind if I need a valuer.

I think I'm with adrian flux at the moment and I have swapped between them and Aplan before. I normally pay around £350 including full european breakdown cover.

Thats very good, They want £610 for mine, insured at £30k with major mods covered on a like for like basis.

 

[Ian]

So, the best deal I could find was £750 with Adrian Flux. Thats with only 3 years no claims because I didn't earn any the previous two years with it being on a classic policy.

Not cheap, but at least I should get fair compensation should the worst happen

 

[Rob Gaskin]

Ian, that's the most expensive insurance premium I've ever seen for an S30. I pay £90 for my standard car and about £125 for my modified car.

Can you use the online comparison sites for Classic Insurance?

Could it be any cheaper on a 'normal' policy i.e. not Classic? I suppose it's the agreed value that you need because it won't have a current 'Market Value'.

 

[Ian]

Ian, that's the most expensive insurance premium I've ever seen for an S30. I pay £90 for my standard car and about £125 for my modified car.

Yeah, its a rip off, they need to finish the agreed value but it should be for £40k all going well.

Pity because it was only £230 for it standard classic.

Can you use the online comparison sites for Classic Insurance?

No, not for a modified classic. only standard or minimally modded ones.

Could it be any cheaper on a 'normal' policy i.e. not Classic? I suppose it's the agreed value that you need because it won't have a current 'Market Value'.

I think it is a normal policy, but for a modified car with an agreed value.

I don't think I'll get it cheaper anywhere due to the specialised nature.

 

[johnymd]

Just had my renewal through for the blue car. £364 with all mods listed with an agreed value of 15k. It's with a plan. I'll ring around on Monday ans try to get a better deal.