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  #1  
Old 11-06-2015, 10:30 AM
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Insurance time.

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!!!!

What do you guys think and who else should I call for a comparison in your opinions? For example is Adrian Flux any good?
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  #2  
Old 11-06-2015, 11:08 AM
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Try 'Classicline' on 01455 639 000.

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

Good Luck.
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Old 11-06-2015, 11:09 AM
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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.

Cheers

Paul
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Old 11-06-2015, 12:07 PM
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Quote:
Originally Posted by Rob Gaskin View Post
Try 'Classicline' on 01455 639 000.

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

Good Luck.
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...).
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Old 11-06-2015, 12:51 PM
red baron red baron is online now
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try hertiage with kgm my 280z 63 15000 agreed value
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Old 11-06-2015, 01:20 PM
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Thanks gents! Greatly appreciate your inputs and will let you know how I get on!
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Old 11-06-2015, 01:40 PM
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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
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Old 11-06-2015, 02:57 PM
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Insurance time.

Quote:
Originally Posted by STEVE BURNS View Post
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

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.
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Old 11-06-2015, 03:34 PM
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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
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  #10  
Old 11-06-2015, 04:21 PM
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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.


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Old 11-06-2015, 05:56 PM
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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.
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Old 11-06-2015, 06:17 PM
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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?
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Old 11-06-2015, 06:46 PM
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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.
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Old 11-06-2015, 08:51 PM
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Quote:
Originally Posted by richiep View Post
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.


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.
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. 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.
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  #15  
Old 11-06-2015, 10:00 PM
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Quote:
Originally Posted by datsfun View Post
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. 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.
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.
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