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Thread: Insurance renewal

  1. #11
    SEC Member Neil63's Avatar
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    Re: Insurance renewal

    Interesting stuff. I did get a discount ( me thinks) but as car is registered new Classic Line wouldn?t give an agreed valuation as that only applies to cars over 5 years of age according to person dealing with it. Instead I have a subjective new valuation from them. My renewal is due in 2 months so I?ll pursue the agreed valuation again. Strangely the road going quote was cheaper than the build insurance.
    Last edited by Neil63; 22-06-2022 at 18:50.

  2. #12
    SEC Member renmure's Avatar
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    Re: Insurance renewal

    Quote Originally Posted by Longtimefan View Post
    I think that the premium seems to ruffly relate to about ?7 per 1000 at the time. But like others, not aware that they have introduced a Club discount, which is good news as renewal is due shortly.!!!!!

    Robin
    I guess postcode, age and limited mileage, haggling ability and Scottishness must play a significant part as I've just done the math and I'm paying ?2.30 per 1000 of cover.

  3. #13
    SEC Member renmure's Avatar
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    Re: Insurance renewal

    Bumpity bump incase anyone searches for insurance .....

    I just got my renewal notification in from Footman James for an agreed value considerably over 6 figures, 3k miles a year all for a premium of just over ?255 / year.

    I gave Classic Line a call and the best they could do for a comparable quote was over ?1100 / year.

    I guess I'll stick with Footman James.

  4. #14

    Re: Insurance renewal

    Thanks Jim, I may be giving them a call, re my car, but I shouldn't let FJ see the Photoshop image with that quote if I were you!!!
    "Why make it easy when you can struggle"

  5. #15
    SEC Member renmure's Avatar
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    Re: Insurance renewal

    Ach, that photo won't concern them.
    Not sure what they might make of the one where I'm underwater joining in the Hunt for Red October tho!!

    Hopefully FJ manage to Quote you Happy

  6. #16
    SEC Member hollytree's Avatar
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    Re: Insurance renewal

    Following the advice above I called FJ about a quote.
    I said quite a high valuation which they seemed happy with and including all the other bits and bobs (valuation fee, motor recovery, their fee etc), it will knock ?100 off my current insurance and nearly double the valuation. Total ?299.05

    NB the number I suggested to ClassicLine, they were happy to go with it, but i just said that number as it came to mind at the time. Looking at the ads that are flying about, I would suggest it might be considerable too low.

    No offence to any of the forum, but I don't think I would pay the sort of numbers flying around on a some of the web adverts for my car or any replica (as I don't have enough spare money to be able to justify it to myself) but I suppose this is now a case of rarity rather than intrinsic value - in the same way old Nintendo N64 game cartridges sell for ?100 yet when the kids and i played them they were ?5. They are just a plastic case and some memory.

    The only thing i need to do now is get someone in the club (who has not worked on the car) to fill in a valuation form and suggest a ?number

    Would anyone who will be at Silverstone on Sunday 28th be partial to a bacon sandwich and give my car the once over.


    EDIT
    Some of the ?numbers removed as this section is public

    Thanks
    Steve
    Last edited by hollytree; 01-08-2022 at 19:42.

  7. #17
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    Re: Insurance renewal

    Steve, you normally need a club official to give a valuation that'll be accepted by an insurance company. We've done several of these now so if you want it for your car, let me know....you're not too far from me so we could maybe meet up somewhere. But if you want to knock something up with someone at Silverstone, and they'll accept that, fill yer boots! (Although maybe you could save y'self the expense of the Silverstone trip and stop someone random in the street and ask them? )

    As for the actual values themselves - as you've noticed, they've risen a lot in recent years. And many replicas - not just Strats - are well north of ?100K now.....and yes it is also intrinsic value. Just because something is of a simple construction doesn't mean it's cheap! I mean, why is a Kirkham Cobra rep worth what it is?

  8. #18
    SEC Member hollytree's Avatar
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    Re: Insurance renewal

    Norm
    Thanks
    I have edited some of the text in my post and removed some of the ?numbers because this section of the forum is public.

    Thanks for the offer. I am booked for Silverstone on the Sunday so if any of the club officials are there and would be prepared to do it (whatever it is?) that would be great.
    If not, yes it would be great to meet somewhere and I can treat you to some lunch.

    Regards
    Steve

  9. #19
    SEC Member renmure's Avatar
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    Re: Insurance renewal

    I recommend Norm's valuation services.
    I went in with a car worth about ?50k and came away almost a milliner.
    Hats off to Norm.

  10. #20
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    Re: Insurance renewal

    Well funnily enough, it's hats wot milliners make.... and yes, Jim ended up with more than one. In fact he's a 2-hat. But a lorra peeps already knew that

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