A word of warning re classic car insurance
Discussion
A wrinkle of classic car insurance that caught me out today, so I thought I would pass it on so that others would be aware.
I have been driving since before Nelson lost an eye, and the insurance has always been in my name. About ten years ago I bought an MGB and insured that in my name too, on a classic car policy. I get to work by train, so don't use the cars as much as the wife. As a consequence, when we bought a new car in 2006, it was insured in the name of Mrs A with me as named driver. Anyhoo, come the need to insure another car in my name (for reasons I wont bore you with) I rang up the classic insurers to get a figure for my no claims, only to find that I didn't have any. The classic policy doesn't give a no claims bonus, so up till 2006 I had something like 20 years no claims and now I have NONE.
Yes, SOME insurers will give you credit for the classic policy, but, it seems, not the cheap ones.
f
k fk fk fkity fk
let that be a lesson to you
I have been driving since before Nelson lost an eye, and the insurance has always been in my name. About ten years ago I bought an MGB and insured that in my name too, on a classic car policy. I get to work by train, so don't use the cars as much as the wife. As a consequence, when we bought a new car in 2006, it was insured in the name of Mrs A with me as named driver. Anyhoo, come the need to insure another car in my name (for reasons I wont bore you with) I rang up the classic insurers to get a figure for my no claims, only to find that I didn't have any. The classic policy doesn't give a no claims bonus, so up till 2006 I had something like 20 years no claims and now I have NONE.
Yes, SOME insurers will give you credit for the classic policy, but, it seems, not the cheap ones.
f
k fk fk fkity fklet that be a lesson to you
roscobbc said:
Thought that most people realised that no claims discount wasn't applicable to classic car insurance - one of the reasons why the premiums tend to be lower?
yes, I am just lazy and terminally thick and had not calculated my error when I changed the insurance on the new car to the Mrs. That has now come back to haunt meAstacus said:
roscobbc said:
Thought that most people realised that no claims discount wasn't applicable to classic car insurance - one of the reasons why the premiums tend to be lower?
yes, I am just lazy and terminally thick and had not calculated my error when I changed the insurance on the new car to the Mrs. That has now come back to haunt meNot quite the same situation, but they may be able to help, they "shadowed" my car ncb onto a van I'd bought for work, giving me full ncb on both.
Here you go, it's only a phonecall, and the worst that can happen is they can't help :
http://www.autonetinsurance.co.uk/
http://www.autonetinsurance.co.uk/
as has already been said you should have known and just dig up proof of your previous NCD (insurance companies will/should have records going back at least 7 years) also being a named driver on your wife's policy will get you credit with some insurers and brokers anyway
or, hush my mouth, actually use the MGB, they can be used you know !
some people use classics as dailies all the year around and both the car and drivers survive (and get lower insurance premiums with better cover, unlimited mileage is often no extra charge too - but don't upset MGB drivers by letting them know that - doh!)
or, hush my mouth, actually use the MGB, they can be used you know !
some people use classics as dailies all the year around and both the car and drivers survive (and get lower insurance premiums with better cover, unlimited mileage is often no extra charge too - but don't upset MGB drivers by letting them know that - doh!)
nta16 said:
some people use classics as dailies all the year around and both the car and drivers survive (and get lower insurance premiums with better cover, unlimited mileage is often no extra charge too - but don't upset MGB drivers by letting them know that - doh!)
I think you need to be careful with this, too, as most classic policies are written on the basis that you have another car that is your everyday car85Carrera said:
nta16 said:
some people use classics as dailies all the year around and both the car and drivers survive (and get lower insurance premiums with better cover, unlimited mileage is often no extra charge too - but don't upset MGB drivers by letting them know that - doh!)
I think you need to be careful with this, too, as most classic policies are written on the basis that you have another car that is your everyday carI lost all my NCB last year as well. Me and the missus decided we would alternate who our non classic car would be insured with so that we would both retain our bonuses. However, when we renewed last year in my name, I also said that my wife was the main driver (I walk to work) so it was her bonus that was used, without them telling me. So after that policy ran out I had inadvertantly not used my NCB so have now lost it - I wasn't best pleased!
Astacus said:
roscobbc said:
Thought that most people realised that no claims discount wasn't applicable to classic car insurance - one of the reasons why the premiums tend to be lower?
yes, I am just lazy and terminally thick and had not calculated my error when I changed the insurance on the new car to the Mrs. That has now come back to haunt me85Carrera said:
nta16 said:
some people use classics as dailies all the year around and both the car and drivers survive (and get lower insurance premiums with better cover, unlimited mileage is often no extra charge too - but don't upset MGB drivers by letting them know that - doh!)
I think you need to be careful with this, too, as most classic policies are written on the basis that you have another car that is your everyday carToo late for the OP unfortunately, but some classic insurers do let you transfer and accumulate further No claims with them although you do not get a discount for it. Handy if you need to go back to a traditional insurer.
Some will also insure you as an only car so long as you only use it for pleasure on limited miles. Mine is insured like that. A bit more expensive than if I had a daily as well but still much cheaper than with a traditional insurer.
Some will also insure you as an only car so long as you only use it for pleasure on limited miles. Mine is insured like that. A bit more expensive than if I had a daily as well but still much cheaper than with a traditional insurer.
V8s ONLY said:
Also be aware that classic insurance is dependant on you having a daily driver,if this is in the wifes name your classic insurance is void.
My other car was Mrs D's, explained to the insurance co that we shared it, they were quite happy. Worth checking with them though.roscobbc said:
Made me think however - my 'daily' (and has been for many years)is a company car. If had to use an 'ordinary' late model daily driver I wouldn't have any no claims bonus to transfer over!
If you get to a point where you want to insure your own car, many insurance companies will accept a letter from your employer (or perhaps your employers insurance company) stating that you haven't had any claims for a certain number of years as proof and use that for a notional NCD. droopsnoot said:
If you get to a point where you want to insure your own car, many insurance companies will accept a letter from your employer (or perhaps your employers insurance company) stating that you haven't had any claims for a certain number of years as proof and use that for a notional NCD.
Likewise classic insurers - I raised a similar query with my provider last year, and while they couldn't add the no claims that I had accrued before opening the policy, they were more than happy to write a letter stating that I had made no claims for the period I was insured by them on the classic. I haven't tried to take on another modern policy yet, but it might be worth a shot - especially if you've been with the same company for such a length of time. Roy C said:
85Carrera said:
nta16 said:
some people use classics as dailies all the year around and both the car and drivers survive (and get lower insurance premiums with better cover, unlimited mileage is often no extra charge too - but don't upset MGB drivers by letting them know that - doh!)
I think you need to be careful with this, too, as most classic policies are written on the basis that you have another car that is your everyday carbut
there are other classic policies that do not have these restrictions - you shop around and ask the questions about use relevant to you - the OP has use of another car, it doesn't have to belong to him or be his everyday car
I see and hear many times 'pub' and 'internet' wisdom of what you can and can't do rather than checking with the insurance companies or brokers - and bear in mind what some insurers and brokers don't cover others do, there are a lot of variables with insurance
so many times classic owners moan that they didn't know this or that when often it's written in the policy booklet or they didn't clarify the position before purchase or were told but didn't listen or have forgotten
V8s ONLY said:
Also be aware that classic insurance is dependant on you having a daily driver,if this is in the wifes name your classic insurance is void.
Not always.My XJ40 is on a classic policy, it's my only car & the insurance company know it.
As for the OP, although you don't get NCD on classic policies you can probably get a letter from your classic company confirming you've been claim free for x years & a lot of companies will give you a discount that'd match that many years NCD for that.
DocArbathnot said:
V8s ONLY said:
Also be aware that classic insurance is dependant on you having a daily driver,if this is in the wifes name your classic insurance is void.
My other car was Mrs D's, explained to the insurance co that we shared it, they were quite happy. Worth checking with them though.Doc makes a good point, check - BEFORE you buy the policy not after
a few classic MG owners have followed me to Peter James (former co-founder of Footman James) and have been very surprised at the cover offered and low premiums (which have actually gone down this year) and at least two I know of use their Spridgets as everyday cars like me
Peter James Insurance - http://www.peterjamesinsurance.co.uk/
some people only want to spend seconds on buying insurance and then moan they've bought the wrong policy or it's too restrictive or more expensive than other policies - others just want the cheapest they can get and often that's exactly what they get
in other threads I've listed all the things I get on my classic policy but it's a waste of time putting the cost as it's for me with my circumstances - anyway those that followed me all seem to pay less than me
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