Discussion
Bloody outrageous isn’t it?
This is what I’m being quoted for the insurance renewal for my Mk 1 Scirocco for next year with my present insurer.
Don’t get me wrong, I’m not complaining, it just seems unbelievably cheap - when everyone else is getting their eyes taken out atm with car insurance.
Ok, a bit of background I’ve owned the car 30 years next month. I have no points, no no claims as you don’t accrue on classics, it’s limited to a 1000 miles a year which I never do. It’s always garaged etc.
Does this seem about right to you gentlemen across the patch with your classics? And experience.. The past 10 years of insurance has fluctuated between £130 -£150 on that vehicle.
This is what I’m being quoted for the insurance renewal for my Mk 1 Scirocco for next year with my present insurer.
Don’t get me wrong, I’m not complaining, it just seems unbelievably cheap - when everyone else is getting their eyes taken out atm with car insurance.
Ok, a bit of background I’ve owned the car 30 years next month. I have no points, no no claims as you don’t accrue on classics, it’s limited to a 1000 miles a year which I never do. It’s always garaged etc.
Does this seem about right to you gentlemen across the patch with your classics? And experience.. The past 10 years of insurance has fluctuated between £130 -£150 on that vehicle.
Wise words Cossie.
Apologies for late reply I’ve been mulling it all over. I contacted my present insurer today and it actually wasn’t that sum it was £110 (fees included) etc not mentioned on my app which I have with them - cheeky.
My agreed value was lower than what I consider my car worth, and I asked them for a change in that. I was put on hold for an age and got irritated.
Just the lack of interest in business.
Hung up and rang another, I hate these phone calls and the waiting (as we all know) that is what insurance companies rely on.
With another insurance company, my increased value was extended by £8 K which I’m sure would satisfy me on a total loss payout - with supporting photos £130 total premium.
Apologies for late reply I’ve been mulling it all over. I contacted my present insurer today and it actually wasn’t that sum it was £110 (fees included) etc not mentioned on my app which I have with them - cheeky.
My agreed value was lower than what I consider my car worth, and I asked them for a change in that. I was put on hold for an age and got irritated.
Just the lack of interest in business.
Hung up and rang another, I hate these phone calls and the waiting (as we all know) that is what insurance companies rely on.
With another insurance company, my increased value was extended by £8 K which I’m sure would satisfy me on a total loss payout - with supporting photos £130 total premium.
sixor8 said:
I've had several limited mileage policies over the year but never been allowed to have it that low, so I'm intrigued! I've had 1500 with FJ, and 1000 elsewhere but not 500 miles! Who was that?
Stirling - don't think they specialise in classic cars so it's just an ordinary policy. My classic is definitely a classic but seems to be new enough that it can be insured like a normal car. Still has an agreed value. Over the past 12 odd years of classic insurance on my Scirocco. I don’t think I’ve ever been offered a policy of less than 1500 miles p/a.
I rarely ever do more than 500 miles in it over a 12 month period. Never use in winter, and only runs on a nice summers day. Which is rare when you live in Cumbria!
I rarely ever do more than 500 miles in it over a 12 month period. Never use in winter, and only runs on a nice summers day. Which is rare when you live in Cumbria!
Are your agreed values just a figure you give?
I have to provide evidence every other year from the Ford RS Owners club for mine.
I'd still be wary of these kinds of prices, sadly you won't know unless you need to claim. I have first hand experience of this when a friend ensured an 80's classic with Admiral. Had to make a claim when someone hit the back of the car, at got very messy when they realised what the car actually was (mk3 Escort RS Turbo).
I have to provide evidence every other year from the Ford RS Owners club for mine.
I'd still be wary of these kinds of prices, sadly you won't know unless you need to claim. I have first hand experience of this when a friend ensured an 80's classic with Admiral. Had to make a claim when someone hit the back of the car, at got very messy when they realised what the car actually was (mk3 Escort RS Turbo).
All insurance companies are always difficult when they are required to pay out.
With agreed value it is in your interest to be accurate. If you value it differently to what the market shows you will find it hard to prove the insurance company should pay more in a total loss scenario if the insurance company don't agree with your valuation.
Unless it is a totally unique car then the value should be similar to what it would cost to buy another one.
With agreed value it is in your interest to be accurate. If you value it differently to what the market shows you will find it hard to prove the insurance company should pay more in a total loss scenario if the insurance company don't agree with your valuation.
Unless it is a totally unique car then the value should be similar to what it would cost to buy another one.
I’ve set the agreed value of my Scirocco at £20.000. It was at £13K.
I saw one very similar to mine go for £34 K at auction last year, but I don’t consider that a realistic reflection of value.
Mine is a Storm version, pretty rare, and rather irreplaceable. It would certainly get written off in any accident. Body parts are so unobtanium.
I’ve got all receipts stretching back 30 years including the bills from the full body/ chassis restoration.
Yup, accept it could be a fight come claim time. Hence I don’t drive it a lot, and I’m extremely careful when and where.
Edit. I’ve got to send the usual photos off for them to agree the valuation.
It is with a reputable classic car insurer.
I saw one very similar to mine go for £34 K at auction last year, but I don’t consider that a realistic reflection of value.
Mine is a Storm version, pretty rare, and rather irreplaceable. It would certainly get written off in any accident. Body parts are so unobtanium.
I’ve got all receipts stretching back 30 years including the bills from the full body/ chassis restoration.
Yup, accept it could be a fight come claim time. Hence I don’t drive it a lot, and I’m extremely careful when and where.
Edit. I’ve got to send the usual photos off for them to agree the valuation.
It is with a reputable classic car insurer.
Edited by Jim H on Friday 22 March 10:54
the problem that you will have if no formal recognised valuation certificate from an owner club, or marque expert is that if the unthinkable happens they will look at the value that you gave (which is of your own opinion) then they'll look at market value and you'll end up in between.
As a point here, i'm paying £340 for a 1k mileage agreed value policy with a valuation certificate for £36k on a 96' Escort Cosworth (standard car). These have rocketed up in price, my next valuation is due in April which will be mid 50's and i'm expecting the insurance to go up to around £400.
There is a difference between a self valuation and a certified valuation. I pay the extra knowing, again from experience, that with these the claim is much smoother as I've paid the underwriter based on an actual value.
As a point here, i'm paying £340 for a 1k mileage agreed value policy with a valuation certificate for £36k on a 96' Escort Cosworth (standard car). These have rocketed up in price, my next valuation is due in April which will be mid 50's and i'm expecting the insurance to go up to around £400.
There is a difference between a self valuation and a certified valuation. I pay the extra knowing, again from experience, that with these the claim is much smoother as I've paid the underwriter based on an actual value.
sortedcossie said:
the problem that you will have if no formal recognised valuation certificate from an owner club, or marque expert is that if the unthinkable happens they will look at the value that you gave (which is of your own opinion) then they'll look at market value and you'll end up in between.
As a point here, i'm paying £340 for a 1k mileage agreed value policy with a valuation certificate for £36k on a 96' Escort Cosworth (standard car). These have rocketed up in price, my next valuation is due in April which will be mid 50's and i'm expecting the insurance to go up to around £400.
There is a difference between a self valuation and a certified valuation. I pay the extra knowing, again from experience, that with these the claim is much smoother as I've paid the underwriter based on an actual value.
I do agree Cossie,As a point here, i'm paying £340 for a 1k mileage agreed value policy with a valuation certificate for £36k on a 96' Escort Cosworth (standard car). These have rocketed up in price, my next valuation is due in April which will be mid 50's and i'm expecting the insurance to go up to around £400.
There is a difference between a self valuation and a certified valuation. I pay the extra knowing, again from experience, that with these the claim is much smoother as I've paid the underwriter based on an actual value.
Unfortunately the Mk 1 Scirocco world is pretty small in following - nowhere near like the Golf scene.
So getting a correct certified valuation maybe difficult.
Additionally these cars are not really in the truly valuable bracket like your own. I mentioned that £35 K Scirocco as an example but what I consider as two people in a bidding war.
I’m mindful the value may go up, and I should be covered more appropriately. But I don’t think it’ll rocket like some of the classic Fords we are seeing.
Like I say, I limit the risk a bit by it’s usage, which is a shame and defeats the object of classic car ownership.
Jim H said:
Like I say, I limit the risk a bit by it’s usage, which is a shame and defeats the object of classic car ownership.
I'm sadly exactly the same on this though, 120 miles covered between April last year and now. The thought of some idiot on a phone or not paying attention smashing into it fills me with dread.sortedcossie said:
Jim H said:
Like I say, I limit the risk a bit by it’s usage, which is a shame and defeats the object of classic car ownership.
I'm sadly exactly the same on this though, 120 miles covered between April last year and now. The thought of some idiot on a phone or not paying attention smashing into it fills me with dread.Don’t get me wrong I’ve had 30 years of memories and amazing experiences with my Scirocco which could never be recompensed at any price.
The fact that it’s now tax free and MOT exempt I really should be enjoying it a lot more than I do. However due to the ever scarcity of spare parts etc (keeping huge stocks in my loft, scouring eBay etc. Actually driving it on roads full of pot holes, cluttered with drivers with zero ability or sense - takes a big deep breath!
And huge relief when you get it home safely.
At a time in my life where I want to retire from work as early as possible and effectively de-clutter my life. Ownership of a vehicle like this would be a lot less faff.
I think these things can become expensive, draining ornaments.
Spring is peeping around the corner and I’m itching to get out for a spin. But it’s never ever a drive where I’m not watching everything going on around me with other motorists - like a Hawk.
I’ve just woken it from its winter slumber.
I retired my Corrado a back in Autumn, it was getting a bit long in the tooth. I bought a MK 3 Scirocco. So easy to drive.
Jesus. Shuffling my Elise around, and the Storm. I honestly thought the brakes had seized on both.
And the steering?!! Try going from a car from the seventies - to modern day!
I’ve made some photos today, I admit it’s not everyone’s taste, but I do think Giorgetto Giugiaro design is an absolute classic
I retired my Corrado a back in Autumn, it was getting a bit long in the tooth. I bought a MK 3 Scirocco. So easy to drive.
Jesus. Shuffling my Elise around, and the Storm. I honestly thought the brakes had seized on both.
And the steering?!! Try going from a car from the seventies - to modern day!
I’ve made some photos today, I admit it’s not everyone’s taste, but I do think Giorgetto Giugiaro design is an absolute classic
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