Insurance

[zoros]

With Richard grace's help and a fair wind, I hope to be the owner of my first maserati shortly.
I have had insurance quotes up the ying yang but NONE with an agreed value. They all cite the car is not old enough.
I am a little nervous about taking the stock market insurance because if the car was totalled (or repair costs exceeded market value), that is all I would get back - market value. And MV is way below what we enthusiasts purchase the car for.
For instance, I would suggest a 2008 Mas GT 4.2 (purchased for anything between £32000 and £42000) would fetch a written off value of around £25k?

What have other members done about their insurance needs?

[PS: My best quote so far on a clean licence: £305 with Aviva.]

 

[Newell]

Which model are you talking about for the insurance. You can get gap insurance which covers you for the difference of marker value and what you paid.

 

[zoros]

Newell,

Interesting about "gap insurance". Who does this sort of insurance?

The car is (as mentioned) a 4.2lt Granturismo, 2008 model.

regards

Z

Which model are you talking about for the insurance. You can get gap insurance which covers you for the difference of marker value and what you paid.

 

[zoros]

Richard Grace recommended an insurance broker who deals with agreed value. I spoke to them and to be fair they trawled the market but reported back that the GT falls between two agreed value areas: the first must be a classic car by its definition (I think that means >25 years old). The other area that can be covered is cars > 100k.

Anyway - I did my homework and came up with Aviva: Fully Comp, Protected NCB, Legal cover: £330!!! And because I bought it through my company web site, I got £60 cashback too: £270. Can't believe it??? I rang them up and they talked me thru it to ensure I didn't miss anything sinister (apart from the agreed value). The only thing I do differently from most punter's (I believe) is to take out the maximum excess (£1000) because I have separate insurance cover for that anyway (£38). This huge excess often helps enormously with the final quote.
So - fingers crossed, I pick the car up on Saturday.....................................................

Newell,

Interesting about "gap insurance". Who does this sort of insurance?

The car is (as mentioned) a 4.2lt Granturismo, 2008 model.

regards

Z

 

[mike1]

Whilst not the cheapest but certainly one of the best I suggest you try Chubb Insurance who will provide agreed value policies. I have my 7 year old Spyder and a one year old Range Rover insured with them with agreed value on both. If you want more details let me know.

Mike1

 

[hodroyd]

Insurers give "Classic" car status to cars over 10 years old..!!

 

[Parisien]

.....but most with restrictions.........in my experience....


P

 

[2b1ask1]

I have had an agreed value on mine each year with different insurers no problem, first two years it was <10 years old.

 

[zoros]

Mike - worth a punt - yes please?

Classic car restrictions: You are right. My TR4 with limited mileage of 5000/annum and zero no claims (as it was my third car) was......wait for it: £85. But the condition was that it was to be off road between Nov and Mar inc. [Insurance continued during storage for fire/theft/vermin!

What prices are others paying?

 

[allandwf]

Im with Mannings, throw back to TVR days. Need to check re valuation , track cover included.

 

[hodroyd]

Hahahaha, £85 is chicken feed compared to what some of us pay, so it's well worth looking at classic car insurance then, for those lucky enough to have a 10 year old..!!

 

[Contigo]

Try Adrian flux for classic car. I pay under £300 for annual policy which includes business miles and European cover...