Insurance - read on please chaps....

Need help from a fellow owner, something to air - discuss away!

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ChrisL
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Re: Insurance - read on please chaps....

Postby ChrisL » Thu Mar 12, 2015 9:27 pm

Did the Mazda, much cheaper than FP
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Davemg
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Re: Insurance - read on please chaps....

Postby Davemg » Sun Mar 15, 2015 6:53 am

Firstly, my apologies for having a rant but this has seriously "got my goat".

Despite a lot of effort, I have failed to insure my son on my Quantum Xtreme. The only cover available is Third Party Fire & Theft, which then applies to both of us; and at £260, a fairly hefty premium compared with £130 for me alone fully-comp, and a risk for a car worth about £9k.

The universal response is "ah, he's under 25".... presumably that means the underwriters feel he will be a boy racer. This is the "boy" who is a Manager in a business, drives a 245 bhp 3.0 V6 Diesel Jaguar XF and gets 55mpg+ (!), has a clean licence (not even a parking ticket since 17), passed his test in 6 weeks (and Pass Plus), has had a BMW Mini John Cooper Works, etc. He's even a member of our local Speedwatch volunteer speed trap initiative with Essex Police. 2gether tried very hard, but failed to convince the underwriters. No comprehensive cover, at any cost - not even a daft quote!

Yet - he can easily get insured - for £1000 - fully comprehensive on a Jag XFR 5.0 V8, and a BMW M5, a BMW M3, and Aston DB9, an Audi S8, and an Ariel Atom (which is, of course, not a kit car). However, a kit car with an engine out of an old Sierra (Pinto) worth a fraction of the amount, no deal.

Absolutely, head smackingly, mad. I would really love someone from the Insurance industry to explain why the under 25's are banned from Kit Cars and Classic Car Insurance. This is as ridiculous as the loaded premiums for young drivers, many of whom drive far better than much older drivers.

Insurance Underwriters - let's hear your response to this one if you are brave enough.

scotty
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Re: Insurance - read on please chaps....

Postby scotty » Sun Mar 15, 2015 7:03 am

Its because they run on statistics......and it in this very very rare case its worked that me and the mrs have got mine at such a good price that i wont be changing cars for a bit,25 has always been a barrier and always will,next year all will be cheap!!!
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Crunchie Gears
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Re: Insurance - read on please chaps....

Postby Crunchie Gears » Sun Mar 15, 2015 7:42 am

Davemg wrote:Firstly, my apologies for having a rant but this has seriously "got my goat".

Despite a lot of effort, I have failed to insure my son on my Quantum Xtreme. The only cover available is Third Party Fire & Theft, which then applies to both of us; and at £260, a fairly hefty premium compared with £130 for me alone fully-comp, and a risk for a car worth about £9k.

The universal response is "ah, he's under 25".... presumably that means the underwriters feel he will be a boy racer. This is the "boy" who is a Manager in a business, drives a 245 bhp 3.0 V6 Diesel Jaguar XF and gets 55mpg+ (!), has a clean licence (not even a parking ticket since 17), passed his test in 6 weeks (and Pass Plus), has had a BMW Mini John Cooper Works, etc. He's even a member of our local Speedwatch volunteer speed trap initiative with Essex Police. 2gether tried very hard, but failed to convince the underwriters. No comprehensive cover, at any cost - not even a daft quote!

Yet - he can easily get insured - for £1000 - fully comprehensive on a Jag XFR 5.0 V8, and a BMW M5, a BMW M3, and Aston DB9, an Audi S8, and an Ariel Atom (which is, of course, not a kit car). However, a kit car with an engine out of an old Sierra (Pinto) worth a fraction of the amount, no deal.

Absolutely, head smackingly, mad. I would really love someone from the Insurance industry to explain why the under 25's are banned from Kit Cars and Classic Car Insurance. This is as ridiculous as the loaded premiums for young drivers, many of whom drive far better than much older drivers.

Insurance Underwriters - let's hear your response to this one if you are brave enough.


Worrying that I maybe helping someone helps catch speeding motorists but -------.

May I suggest you try Chubb Insurance. It is not cheap and they may not want to insure your car. However the policy underwriting is different! They insure my son, head office and I on the Morgan Brooklands. The policy also gives all three comprehensive cover to drive any vehicle not owned by use or kept at the address. It also is insured for any other driver not resident at the address.

They have just quoted me for a Zenos E10S Track for my son and I on the same terms. (A Plan did quote less but I will probably go with Chubb as they offer so much ease).

Oh, and they gave agreed values and ask what mileage you think you need but when I phoned up to say I would do more they just made a note.

They do not give no claims discount they just have one premium and you can explain the risk if you need to.

I have spoken to others who insure with Chubb and been told that covering any driver was a problem for some owners but they explained they wanted their car covered if the detailer or garage picked the car up and they got the cover for even 17 year olds! But you will pay for it.

Good hunting.

P.s. Send me a pm if the radar traps are in Berkshire

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Larkingabout
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Re: Insurance - read on please chaps....

Postby Larkingabout » Sun Mar 15, 2015 7:56 am

Agree with Scotty, all insurance is based on actuarial calculations. Cars are then grouped on power etc and also brought into play are the accident statistics again based on age , sex, location, job type and many more factors. Risk is easier to calculate in percentage terms for large groups ie mass produced cars but with kits the sample is so much smaller. How many quantum extremes are there, I know not but in my case with the Spyder of which there were only 40 made and three have been written off that makes mine a rotten risk in percentage terms. If they had been driven by someone under 25 even worse.

Insurance underwriting is no longer a personal business just like banking. We now live in the computer age where the skill has been driven out by people who say " computer says no!"
James
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Davemg
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Re: Insurance - read on please chaps....

Postby Davemg » Sun Mar 15, 2015 8:05 am

Thanks for that, will give it a go.

You should be safe from Berkshire unless I can pick you up from Essex :lol:

The Speedwatch thing catches the absolute idiots doing over 60 mph over mini roundabouts, past a school, etc, in a 30mph limit. My son was hit head on by a numpty playing with his phone, driving on the wrong side of the road, doing 40 mph and that left my wife in A&E. I cannot understand how these idiots drive so stupidly in a dangerous area.

So, have no fear, I'm no speed zealot, but responsibility rules in a rural village.

The demographics are interesting; most speeders are women, but the highest top speeds are nearly always men. Women do mild speeding a lot, generally talking on the phone, talking to kids or friends, and do 35-41/42 in a 30, missing Give Way lines, etc. Age makes no difference. If men speed, they do it excessively. Seems to be that pattern most days I've gone out. Seems a stereotype but it is true.

Enthusiast Cars (e.g. kits, classics), lorries, and oddly enough motorcycles are generally spot on - perhaps because they are paying attention to their surroundings.

Cheers for Chubb, will try them tomorrow!

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Re: Insurance - read on please chaps....

Postby Crunchie Gears » Sun Mar 15, 2015 10:38 am

James

When I got a quote for a Zenos, Chubb asked what cars Alex and I driven so they could assess if we could drive and potentially drive other cars. They asked if Alex had been on trackdays in any quick cars and of course where we live, where the car was kept, motoring of fences and so forth but, it was a discussion not just a list of questions.

You may not like the price, you may well like the process.

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Larkingabout
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Re: Insurance - read on please chaps....

Postby Larkingabout » Sun Mar 15, 2015 11:46 am

Crunchie Gears wrote:James

When I got a quote for a Zenos, Chubb asked what cars Alex and I driven so they could assess if we could drive and potentially drive other cars. They asked if Alex had been on trackdays in any quick cars and of course where we live, where the car was kept, motoring of fences and so forth but, it was a discussion not just a list of questions.

You may not like the price, you may well like the process.

Paul,

it is quite refreshing in this computerised age for someone to actually ask the questions that should be asked. Clearly Chubb, who I know from my time in Lloyds underwrirting, have always been a professional outfit. I had a similar discussion with Claire at A Plan when I moved over to them and as you intimate it was a refreshing change from the usual call centre type operation. This comes of dealing with a broker rather than dealing direct.
James
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Re: Insurance - read on please chaps....

Postby Larkingabout » Wed Mar 18, 2015 2:12 pm

I decided this year to consolidate all my kit car related insurance under one roof ie A Plan as they had given me such good service when I transferred to them last year. Made a call to them and they quoted me £69.95 for the full european cover. I advised them that I had a policy with Adrian Flux for breakdown and that I wanted to ensure they were going to lapse it. I duly wrote to Flux saying I did not want to renew from the 4th April and that I wanted a confirmatory e mail/letter back saying they had in fact noted that I did not wish to renew. Yesterday, not only a letter from Flux but a phone call as well saying everything was to lapse on the 4th April. Well, what a surprise that today arrived the renewal notice saying that they were going to auto renew and they were debiting my card accordingly. Not a happy bunny, down tools and onto the phone. Spoke with a young lady and she said "we aren"t aware that you dont want to renew". I therefore quoted the letter from yesterday and the writers name and suggested she checked the records again. "Oh yes" came the reply" I can see now you don't want it anymore" I asked why the renewal had been sent via e mail and what right did they have to auto renew. She couldn't answer that simple question and when I started to suggest the Insurance ombudsman and sharp practice she became very reluctant to speak to me. Finally, got her to confirm they won't be renewing. Straight onto the phone to A Plan and all sorted but keeping a watchful eye on the bank statement just in case!!

Others be cautious around renewal time please.
James
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Red27
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Re: Insurance - read on please chaps....

Postby Red27 » Thu Mar 19, 2015 6:44 pm

Auto renewal seems to be becoming the standard now with car/bike insurance. It's in the small print (yes, I'm the saddo who reads it, someone has to) and it puts the onus on you to cancel beforehand next time - as you clearly did James. Companies believe apathy is their friend in these situations, and that it's harder/more bother for you to cancel than continue, as you've clearly proved! Worse, if have (vertently, or inadvertently) given a company authority to debit your credit card annually, I believe you don't actually have the right to cancel it, like you would a direct debit. It's up to the company, and your credit card company won't act on a request from you - that certainly used to be the case.
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