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Classic insurance - companies & brokers
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MrCostington wrote: »Hi, sorry to bring this up yet again, the issue of getting insurance with classic being only car. I read through here since 2014 and did not find a definitive answer.
I think I'll have saved enough to look for my first classic come next pay cheque. Looking for 30 or more year old Merc or BMW. Over 30 years claim free driving and currently have a normal car insured till Dec with First Ireland, been with them years.
They quoted me E299 for a W123 280CE fully comp, 4,000 miles. But of course need a normal daily. As do Carol Nash and Brophy, and Autoline up north.
I spoke to two guys at the recent Swords show that claim to have their classic as only car, and say they are legit, ie insurance know this. One was with First Ireland and forgot what other guy said.
I'm not sure if I could afford the over 1 grand to tax/insure my current car and run a classic and I do not do enough driving to justify it in any case.
Has anyone here actually insured just their classic?
Thanks!
Feel free to pm if preferred.
This was the best evidence that I remembered came up on the subject of running a classic as your only vehicle back a few years ago.
It could be done back then but not sure if any of the insurance companies are considering this kind of cover with new customers, so unless you're already in the club you're going to find it tricky to get cover without keeping the everyday driver on the road.macplaxton wrote: »Well underwriting criteria changes but at the time, 2007, AXA and Hibernian were game to insure a 34 year-old car on a standard motor policy. My hand was forced at the time to get "normal" insurance as there were no specialist policies for a main vehicle/unlimited mileage classic.
DAF 66 SL now 73D978 by macplaxton, on Flickr
This was my main and old car at the time and was costing ~€400. The vehicle was initially insured for €750 (well market value, but they asked). On renewal as there was no way of doing "agreed value", the only course of action was to aim high and it was down for €2500 (or €2250, can't remember) partly as a reflection of the work put into it and partly given the more expensive Irish used car market.
It was stolen from outside my house in Lucan and got as far as Liffey Valley. Reported it, then I borrowed a car to get to work down at Grange Castle (5am) and driving the work lorry back up another road I found the car before ever hearing from the Garda. Phoned the location in, but could not wait around for them to turn up. Again I reported it to a motorcycle cop in town. Eventually found out Irish Towing had it, but wouldn't be released pending Garda technical Investigation (2 days).
p9110014 by macplaxton, on Flickr
When it came to the crunch, I was initially offered €1500 which I declined as too low. The assessor didn't really know where to start as market value on an usual car is hard enough to work out, so I guess he was working backwards from the declared market value. As there was no hope of getting a replacement regardless of money within a reasonable timescale, I did express an interest that an alternative turn-key/tested car was an option and I had one in mind for £1400 (~€1800 at the time) and that I really wanted to retain salvage given the work/parts I'd put into the car. It was agreed that a cheque for €1750 would suffice (€2000 PAV (pre-accident value) less €250 salvage).
Hopped on a boat and bought a 1978 Citroen GS which I still have.
Whilst AXA still look at stuff over 15 years old, Aviva doesn't entertain it now. I also see from the current AXA policy wording the following:
"Salvage (if your car is written off)
We will settle your claim by replacing your car or by paying the market value (or purchase price of your car whichever is the lower) of your car before it was damaged. As part of settling your claim, your car will become our property and you must send us the vehicle licensing document and keys. We will be entitled to take possession of and dispose of your damaged car, at any time during the course of a claim. If we know that your car is covered by a hire purchase or contract-hire agreement, we will pay any claim to the owner described in the agreement."
If I find an old t&c's booklet I'll see what the wording was at the time. I suspect it was similar. I guess as long as they don't lose money on the salvage and you make your interest known before anything else is agreed, you'll stand the best chance of keeping it.
I took the insurance out in the Lucan office. For the initial business, AXA required a NCT or engineer's report. It was NCT exempt at the time, but they were happy to take a current MOT in lieu. For the further renewals I didn't have to produce any NCTs or engineer's reports. There was no mileage restrictions, it was a main and only vehicle. The price was similar if not more expensive than run-of-the-mill stuff. (Certainly way more than £105 a year I was paying for two cars on a comprehensive classic policy as a main/only/unlimited mileage vehicle in the UK!)
I did have the Citroen with AXA for a short while, but as the premium crept up, I moved to First Ireland, who would insure it as a main/only car, but with a mileage restriction max 10k miles p.a. Then I got a modern to move the classics onto "second car" policies with them and instead of paying €600, it was nearer €230. I did have four cars insured at one point and it was base premium + about €60-70 for each extra added.
Third party crashing into me (Non-fault) other party's insurance (AIG) paid me PAV €5500 on a 9 year-old Honda Jazz 1.4SE CVT less €1440 salvage, a uneconomic write-off, I kept it as it was repairable (n/s frontal damage) and the shunt was low-speed and airbags hadn't popped.
In attempt to save some cash last year, I removed all the vehicle I wasn't using from my classic car policy. Two months later, one got burnt out in storage. €2500 up in smoke...
Never had a car/motorcycle nicked in the UK, destroyed by fire or paid through the nose for insurance. The only event I can think of was a car of mine was pushed on its side. It wasn't a three-wheeler, but it was a Reliant.
I wonder would you consider going through the "Declined cases committee". I'm not even sure if this is an option for a classic policy, but sure no harm looking in to it.
I think I remember someone telling me that they went through this process on an normal everyday car and it ended up that it was the first insurance company that they got the written refusal from, that was the company who was forced to quote them. Of course they can quote you whatever they want, but you never know your luck, the quote may not be too bad.
http://www.citizensinformation.ie/en/travel_and_recreation/motoring_1/motor_tax_and_insurance/motor_insurance.htmlIf you are refused motor insurance
Individual insurers have the right to refuse you cover, but they must provide you with a reason for the refusal should you ask for one. However, even though you have been refused cover, you are entitled to go to the Declined Cases Committee of Insurance Ireland who will obtain an insurance quotation for you. In order for the Committee to consider your case you must first have sought and been refused quotations in writing from at least three insurers.0 -
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