A Question of Insurance
Discussion
Hi all,
I'm just on the verge of entering the wonderful world of Elise ownership, so a big thanks to you all for the useful info I've got from this site so far.
One problem I have yet to sort is that of my insurance. I intend to have the Elise as a second car and have spoken to a couple of brokers about this. Each of them told me that they don't know of policies which allow you to be insured for 2 vehicles, hence they would have to sell me 2 separate policies.
Was I naive in assuming that I could get one policy for both cars?
How do those with more than one car solve this potentially expensive problem?
Cheers
Rich
I'm just on the verge of entering the wonderful world of Elise ownership, so a big thanks to you all for the useful info I've got from this site so far.
One problem I have yet to sort is that of my insurance. I intend to have the Elise as a second car and have spoken to a couple of brokers about this. Each of them told me that they don't know of policies which allow you to be insured for 2 vehicles, hence they would have to sell me 2 separate policies.
Was I naive in assuming that I could get one policy for both cars?
How do those with more than one car solve this potentially expensive problem?
Cheers
Rich
The information you were given is basically correct. It is possible to get 'trader' policies which cover you to drive any number of vehicles up to a certain value, but they are rarely cost effective for jsut two vehilces.
Normal tactic is to insure your Elise via a specialist broker as a second car with limited mileage. They will insist on you having access to a primary vehicle for everyday use and will usually check on mileage by means of a declaration and/or copies of MOT certiciates. This reduces the premium as much as possible, but it will still be a biggish chunk of money.
Normal tactic is to insure your Elise via a specialist broker as a second car with limited mileage. They will insist on you having access to a primary vehicle for everyday use and will usually check on mileage by means of a declaration and/or copies of MOT certiciates. This reduces the premium as much as possible, but it will still be a biggish chunk of money.
Rich,
For the last 5 years I've had myLand Rover and my Elan insured through RAC Insurance Brokers because they offered just the arrangement you are looking for. ie I had full no claims on the Land Rover and they were happy to also apply that to the Elan as a second car (which is sensible as I can only drive one at a time).
Unfortunately I do not expect this happy state of affairs to continue at this year's renewal as RAC Insurance has been bought by Norwich Union or similar. However I know of other people who have found a similar arrangement with other insurance companies; it may have been with Footman James.
Are you in Club Lotus and have you tried their scheme (which also covers approved track days)? Good luck.
John
For the last 5 years I've had myLand Rover and my Elan insured through RAC Insurance Brokers because they offered just the arrangement you are looking for. ie I had full no claims on the Land Rover and they were happy to also apply that to the Elan as a second car (which is sensible as I can only drive one at a time).
Unfortunately I do not expect this happy state of affairs to continue at this year's renewal as RAC Insurance has been bought by Norwich Union or similar. However I know of other people who have found a similar arrangement with other insurance companies; it may have been with Footman James.
Are you in Club Lotus and have you tried their scheme (which also covers approved track days)? Good luck.
John
Rich, do a search for 'insurance' on the Elise forum and you'll find a myriad of specialist brokers to talk to who will sort you out a good policy.
If you join SELOC www.seloc.org (The Lotus Enthusiasts Club - independent owners club, £28 to join, £20 per year thereafter) you will get 10-15% via loads of places.
I can recommend Autotorque.
If you join SELOC www.seloc.org (The Lotus Enthusiasts Club - independent owners club, £28 to join, £20 per year thereafter) you will get 10-15% via loads of places.
I can recommend Autotorque.
Rich,
a fair number of insurers will allow you to mirror NCB's across vehicles. I'm insured through Elephant and they allowed me to use my NCD on the GT3, then replicated it to the Range Rover. The Range Rover now starts earning a 2nd NCB in it's own right. Elephant also happened to be the cheapest for the GT3. Ask the insurers about this quite a few do it now
a fair number of insurers will allow you to mirror NCB's across vehicles. I'm insured through Elephant and they allowed me to use my NCD on the GT3, then replicated it to the Range Rover. The Range Rover now starts earning a 2nd NCB in it's own right. Elephant also happened to be the cheapest for the GT3. Ask the insurers about this quite a few do it now
Your insurance broker is wrong.
There are a number of insurance companies doing multi-car policies now. I can't remember which ones except Admiral, but a few phone calls by you or the broker will get you some more alternatives.
If he didn't check around first time then he's not doing his job, so change your insurance broker and tell the new one why.
There are a number of insurance companies doing multi-car policies now. I can't remember which ones except Admiral, but a few phone calls by you or the broker will get you some more alternatives.
If he didn't check around first time then he's not doing his job, so change your insurance broker and tell the new one why.
Hi, know exactly your problem, am due to collect my first Elise this Sat, and have had enormous difficulty trying to convince insurers that 9 years accident/claim free on my company car (which I'm keeping) can be taken into account.
Very happy though as this morning I got sorted out (at a very good rate) through a chap called Darren Rivers at Chris Knott insurance brokers 0800 917 2274. He said that although I can't have a NCD as such (the distinction I assume being that you can't then move it elsewhere), their underwriter would take into account my circumstances, including that fact that I'll still do 90%+ of my driving in my company car and quote accordingly. I gather that the more mechanised outfits will be unable to take this approach.
Best of luck.
Very happy though as this morning I got sorted out (at a very good rate) through a chap called Darren Rivers at Chris Knott insurance brokers 0800 917 2274. He said that although I can't have a NCD as such (the distinction I assume being that you can't then move it elsewhere), their underwriter would take into account my circumstances, including that fact that I'll still do 90%+ of my driving in my company car and quote accordingly. I gather that the more mechanised outfits will be unable to take this approach.
Best of luck.
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