What’s this years insurance costs like?

[Shawnsx5]

Just had to renew my insurance cover, I found the Footman James proposal the best overall value using their car collection policy, no limits on mileage across the collection and includes the usual stuff like european cover for 90 days. Option of guaranteed value with submission of photos. Sensible excess levels no compulsory requirement for trackers to be fitted, but discounts if they are. So with 2 daily drivers, one with business use cover, and a 6 car collection including the NSX-R the cost is just over £200/car, which I think is great value and certainly beat my previous insurer and the others I tried by quite a big margin.

[Pride]

Considering your rare and valuable car collection Shawn I think that an absolute bargain.👍

[ianhb]

I never realised this, an interesting fact from "Honest John" on Telegraph website. OK if you have more than one car, but if it is your only car and circumstances need you to change to a modern car ???

Why don't classic insurance policies accrue no-claims discounts?


Until recently I have driven exclusively on classic car insurance. Despite never claiming, I have accrued no NCD, as these are not a feature of classic policies. That seemed a reasonable trade-off for the low premiums compared to conventional car insurance. But when I came to insure a modern car last year, I was dismayed that no insurer would give me any NCD, even though they can verify my (no) claims history via their database. Does that strike you as unfair? They can't even argue that my past mileage has been too low, as all my classic policies have either been unlimited or with a high agreed limit.

Asked on 31 May 2018 by Adrian Pettet

Answered by Tim Kelly

Yes, it strikes me as unfair. They have all your claims history on their underwriting database. Unfortunately, we have to play by their rules, not ours. Perhaps look at insuring your modern car in an alternative way? Telematics box? Limited mileage?If you're retired, make sure it does not have "to and from a place of work" as this will reduce it dramatically. Use a good broker and not just price comparison sites.

[Shawnsx5]

Well my previous insurer Heritage allowed up to 12 years NCD on each car classic or otherwise and Footman James allows up to 5 years I believe.

I never realised this, an interesting fact from "Honest John" on Telegraph website. OK if you have more than one car, but if it is your only car and circumstances need you to change to a modern car ???

Why don't classic insurance policies accrue no-claims discounts?


Until recently I have driven exclusively on classic car insurance. Despite never claiming, I have accrued no NCD, as these are not a feature of classic policies. That seemed a reasonable trade-off for the low premiums compared to conventional car insurance. But when I came to insure a modern car last year, I was dismayed that no insurer would give me any NCD, even though they can verify my (no) claims history via their database. Does that strike you as unfair? They can't even argue that my past mileage has been too low, as all my classic policies have either been unlimited or with a high agreed limit.

Asked on 31 May 2018 by Adrian Pettet

Answered by Tim Kelly

Yes, it strikes me as unfair. They have all your claims history on their underwriting database. Unfortunately, we have to play by their rules, not ours. Perhaps look at insuring your modern car in an alternative way? Telematics box? Limited mileage?If you're retired, make sure it does not have "to and from a place of work" as this will reduce it dramatically. Use a good broker and not just price comparison sites.