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Classic insurance - companies & brokers
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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.0 -
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Yeah I know, the problem seem to be more with it being a Japanese car and not so much with its age... Most insurance companies just point blank refuse classic car insurance for a Starlet out of principle. A broker previously agreed such insurance for me but their underwriter then refused it on the grounds that a Japanese car isn't considered a classic car... They probably just don't break down often enough!!95 would be over the 20 year limit so they will talk to you. I got a call back as I requested to know when it changed. and they were adamant that it has always been a 20 year limit. that was axa.
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Jap cars like starlets/civics/subarus etc are not acceptable anymore(they were for a while) but due to customers abusing the policy terms it was stopped) - a 95 Civic was insured as standard 1.4 granny car but Lambo doors, 1.6 type R running gear and fully mods later is just 1 example why now exempt .. Almera was a pulser 2.0 gtiR
Which of course goes to show that insurance companies rather discriminate against ALL drivers (regardless of driver's age and impeccable no claims history) of older Japanese cars instead of assessing each case on their own individual merit. If they suspect foul play in regards to the originality of the car they could just demand a third party assessment of the car, like the AA, NCTS or some other suitable organization, at the customer's expense to ensure that there are no mods done to the car in question.
Then again it is of course much easier to just blindly assume every Starlet or Civic owner is a hooligan driving around like they've stolen the car....
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They - like most distributors - wont care as their interest lies with new / nearly new vehicles.
True, but changing the query slightly, where do they get their insurance cover from? Haven't Universal Honda Ltd got a 1978 Civic? I'm sure I've seen it both inside and outside the building at City West.
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