Insurance time. | The Z Club of Great Britain
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Insurance time.

Discussion in 'Anything and everything' started by smileyinside, Jun 11, 2015.

  1. smileyinside

    ZClub Administrator
    Committee Member

    My renewal with Lancaster came in today I the tune of £164 for limited mileage of 3k miles.

    Being over 40 and living in one of the safest areas for car insurance I feel this is a little high. The value insured is £11k but I need to get that updated!!!!! Pronto!!!![​IMG]

    What do you guys think and who else should I call for a comparison in your opinions? For example is Adrian Flux any good?
  2. Rob Gaskin

    Rob Gaskin Membership Secretary Staff Member Committee Member

    Try 'Classicline' on 01455 639 000.

    Speak to Oliver Saunt if poss. and mention my name.

    Good Luck.
  3. Farmer42

    Z Club Member

    Hi Ali

    It looks a bit high but it may not be if you take off the cost of the optionals.

    I am with Adrian Flux with a company called Marker Study. I am paying about £127 for 3k miles but that may go up when the value has been agreed at around £15k as given by Mike Harris (Moggy) the ZClub insurance valuer. It is currently based on an £8.5 k market value.

    I also found Lancaster and Hegarty quite high. Might be worth ringing Adrian Flux just to compare.


  4. richiep

    Z Club Member

    I use Classicline too. I have since I bought the car; the quote has always been pretty favourable. My last renewal was 173 quid (our Macclesfield post code isn't quite as good as our old Wilmslow one was), but I pushed that up to £209 with a revaluation of the car (as we talked about at Japfest, I raised it considerably...).
  5. red baron

    red baron Forum User

    try hertiage with kgm my 280z £63 £15000 agreed value
  6. smileyinside

    ZClub Administrator
    Committee Member

    Thanks gents! Greatly appreciate your inputs and will let you know how I get on!

    ZClub Administrator
    Staff Member Committee Member

    What amazes me is that as the insurance value of zs seem to have exploded to very high levels a lot of members still seem to want to pay the least that they can for insurance

    If in the worst case scenario you had to make a claim and then found that the cheapest insurance had in fact lost you money in the long run would you be happy because every thing was not covered as you thought

    surly if you own a car that is valued at £15k why are you worrying about saving a few quid on something that protects your possession
  8. smileyinside

    ZClub Administrator
    Committee Member

    Agreed, but it's not quite about that.

    It's more about paying market rates. E.g.: My father has the same ethos as you just described and believed being a decent firm, it had his best interests at heart after 30 years of his custom. So I went onto Norwich Union's (Aviva) own site did a quote for him - it was half the price. He rang them up and they gave no reason as to why they were sending him a rip off renewal and just said they would honour their online quote.

    I don't care if the car is £5k or £100k I want to keep them on their toes and not allow them to slowly creep it up for no good reason.

    ZClub Administrator
    Staff Member Committee Member

    Fair comment with your dads case when it turns out to be a largish costing policy
    But what I am talking about people worrying about £15/20
    I have heard of people being on the phone or contacting Insurance companies and taking all day or in alot of cases longer doing it and what do they save in the long run when the count up the cost of their wasted time spent doing it
  10. Leeski26

    Z Club Member

    Renewed mine in March with Hagerty for £128, that's for 3k mileage and the car valued at 15k which I don't think is bad.

    Sent from my iPad using Tapatalk
  11. richiep

    Z Club Member

    The question one has to ask oneself is should there be a total loss, i.e. stolen without a trace, complete write-off, would you be able to replace the car like-for-like for the agreed value you have it insured at?

    This played on my mind quite a lot around renewal time and led to a significant elevation of my agreed value. Quite frankly, I think plenty of people are undervaluing their cars and need to adjust to the rapidly changing reality. Otherwise, should the worst happen, and given how much early Zs are rising in value (as have parts, restoration costs, paint, etc), replacing their car with something comparable could turn out to be rather difficult...

    Personally, I'd pay a few more quid than average and know that I can replace/build a new Z to at least the same level in the worst case scenario. You don't need to compound the loss by not being able to afford to.
  12. smileyinside

    ZClub Administrator
    Committee Member

    All great points Rich - given what I've seen selling I can't see how I can get one for the condition of mine for less than £17k - that is quite an increase on what I paid for her.

    How does agreed valuation work if they disagree with your estimate of it's worth?
  13. richiep

    Z Club Member

    In the case of my insurer, you can go two ways: a club valuation letter, or pay £20 and self-certify the value up to £100k. The valuation is good for two years.

    In my case, for expediency, I went the 20 quid route. Valuation-wise, I used a known benchmark of another car, discussion with Fourways, and my own research on what I'd realistically be looking at to get another JDM Fairlady Z and then alter it to similar spec as my own.

    As far as I know, they are bound by that valuation and it was accepted and incorporated into my premium, which did rise. Other insurers will have different ways of doing things.
  14. datsfun

    Z Club Member

    Got to say that sounds bonkers! I mean for £20 one could maliciously over insure their car for a rocket high value and put in a dodgy claim for total loss ? Surely that can't be right.:eek: All self certifications I have come across are cross checked by under-writers for realism.

    If I were you, I would check if there are any "limitations" of the so called self certification your insurance company offers. I have always tried to read in between the small print as often tucked away in sub section is a caveat that suggests in the case of a payout, the insurance company will pay based on market value. An agreed value on the other hand, supported by an independent club or valuer is what is says on the tin. Amount agreed.
  15. richiep

    Z Club Member

    The valuation was checked and agreed by the underwriter as part of the revised quotation process, which I then accepted. I'm guessing what I asked for was within spec so to speak. So we aren't talking about me having pulled a figure out of thin air and them gone "oh, okay then". No limitations I have discerned. Incidentally, they used to require car club/third party valuations from 20k up, but I suspect the move of this threshold to 100k is indicative of the shifting reality across the classic car market of values shooting upward.
  16. Jake RAH

    Jake RAH
    Z Club Member

    I think I should have doubled my limited mileage of 3k to 6k or maybe more as I'm only 2 months into the insurance and already done over 1300 miles :eek:
    And after talking to Richie at Japfest I also think the car's under insured :eek:
  17. Paul_S

    Z Club Member

    Thanks for the tip Rob. Oliver isn't there any longer but I got a good deal and it was a painless process despite the car not being very standard!
  18. nospark

    nospark Forum User

    Be careful when dealing with Adrian Flux. You might find a situation where you agree (at renewal) a revised increased valuation over the phone. You then pay the normal £15 to cement the agreed valuation. However, when the paperwork comes through its a lesser valuation shown than agreed (it happened to be the same valuation that Classic Car Buyer weekly paper shows for average cars). It then turns out that this lesser valuation applies until you get an engineers assessment report on the condition of the car that you have to pay for. They have moved the goalposts. You then try to contact the Classic car division of Adrian Flux to argue your point on Z values but the central switchboard say direct contact with that division is not allowed !

    I will never again deal with Adrian Flux for classic car insurance. For one year I was with Hegarty and whilst they might not turn out to be the cheapest at that particular time you dealt with an named person at that company that looked after your file/case. Probably the same scenario as Rob mentioning Oliver at Classicline.

    (As an aside I sent an email to "Classic car buyer" paper saying that their Z values looked on the low side. They responded that they hadn't had a revised look at the valuations for some time and that the man responsible will have a look at it. Nothing changed. I wonder if RHD valuations are not being properly assessed as the main market activity is cheaper LHD variants.)
  19. smileyinside

    ZClub Administrator
    Committee Member

    A moment of delight to share:

    Lancaster came in with £170 renewal quote.

    I rang insurance line this morn and not only did they come in at £120 but also includes, £100 excess, the legal protection thingie, breakdown cover (which I already have but still it's free) and best part of all 90 days European cover with breakdown / recovery!!!!

    Another bonus is that unlike Lancaster their agreed valuation is valid for 2 years as opposed to one.

    Bye bye Lancaster (for this year anyway)!
  20. Mr Ex Jnr

    Mr Ex Jnr Zeds is the way iv been shown Staff Member

    For a few years i have been with Lancaster car insurance this year renewul was 250 pound limited miles

    Next year when am 26 gunna shop round properly didn't try this year

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