First time insuring a car in 40 years

[Sogra]

So I have been looking for a car to buy in readiness for retirement. Wanted something nice but not usual stuff that I would have had as a company car.

Finally settled on a Maserati Ghibli and went to see one today and thought I best just check insurance cost before I pushed the button.

The insurance is nearly twice the price of a BMW 530D MSport nearly £900 quid.

I have had a company car since I was 20 and I am now 60. The only vehicles I have insured have been my classic car and my motor bikes over the years.

Put in that I have 10 years NCD from company but of course this is on both examples.

Also both similar values to buy.

Any thoughts on how to improve this my thoughts were that as it’s not main stream maybe the Meerkats are not the ones to use.

Whilst the cost is not prohibitive now it’s my money and I will be spending it every year want to get value.

Thanks

[alscar]

Congrats on the imminent retirement and the so called retirement car.
Sounds like you need to talk to a real person rather than the Meerkats so would suggest a broker like A Plan or perhaps NFU directly.

[sunbeam alpine]

A good friend has been waiting for more than 6 months to have his Maserati repaired - and the end is still nowhere in sight. The reason for delay is always "parts availability".

I can't imagine BMW having the same level of problems.

Maybe insurance companies price this into their offers?

ETA: I'd still rather have a Maserati than a BMW!

[Mammasaid]

Just take a look at all the insurance threads that have popped up recently, it's not as cheap as it was anymore...

https://www.pistonheads.com/gassing/topic.asp?h=0&...

https://www.pistonheads.com/gassing/topic.asp?h=0&...

https://www.pistonheads.com/gassing/topic.asp?h=0&...

https://www.pistonheads.com/gassing/topic.asp?h=0&...

[dibblecorse]

Hi

It will be the cost to repair and or availability of parts, the BMW is produced in huge numbers with parts the same, the same bump in a Maser will cost far more to repair than in the BMW, and that all adds to the premium.

Also be very careful declaring 10 years NCD as many insurance companies won't accept company car cover, some will, but many won't, so as has been mentioned you'll be better off via a broker but it won't be cheap.

[Sogra]

Thanks all.

I think the answer as some have said is to talk to a real person

Whilst parts availability and pricing is a part the major cost of an insurance claim is the cost to other vehicles and people so would have expected given the same driver details it wouldn’t be so far out. I suspect there will be an algorithm somewhere that’s says that kind of car profile is more likely to claim than an other so talking to a proper person looks like the way.

Also,we have a strange post code shared with a less nice area but again would have expected that to apply to a BMW as well.

On the parts front that is the industry I have worked my whole life in both automotive and commercial, all manufacturers have a similar problem with availability I suspect the build quantities of the Ghibli probably impact but not massively.

Thanks all

[alscar]

Best of luck - be good to hear your results.

[TwigtheWonderkid]

Sogra said:

Put in that I have 10 years NCD from company but of course this is on both examples.

Just ensure before you push the button on whatever quote you get on whatever car you buy, that they are aware that what you have is a letter of claim free driving on a company car and not actual NCD (which is earned by having a policy in your own name and not claiming). You've just been a claim free driver on someone else's policy.

[JagYouAre]

Sogra said:

Thanks all.

I think the answer as some have said is to talk to a real person

Whilst parts availability and pricing is a part the major cost of an insurance claim is the cost to other vehicles and people so would have expected given the same driver details it wouldn’t be so far out. I suspect there will be an algorithm somewhere that’s says that kind of car profile is more likely to claim than an other so talking to a proper person looks like the way.

Also,we have a strange post code shared with a less nice area but again would have expected that to apply to a BMW as well.

On the parts front that is the industry I have worked my whole life in both automotive and commercial, all manufacturers have a similar problem with availability I suspect the build quantities of the Ghibli probably impact but not massively.

Thanks all

As I understand it, it's not just the cost of parts that's the issue but the fact that they are unavailable for so long, increasing the hire car periods required for people waiting for parts and this is currently one of the biggest factors for the increase in premiums. A hire car for someone waiting 6 months for parts must be thousands in cost to the insurer.

I just swapped a Mini for a 997 on my insurance for the six months remaining on the policy. Cost me £39, £15 of which was their admin fee, so I can only assume they don't expect parts to be a major issue on a 12 year old Porsche! I just ran a new quote and the cheapest annual was about £430, which is about £150 more than the Mini was last year, so not outside what I would have expected to be honest.

Hopefully someone out there will give you a sensible quote; insurance seems to be all over the place at the moment (going by the number of threads about it recently).

[Collectingbrass]

alscar said:

Congrats on the imminent retirement and the so called retirement car.
Sounds like you need to talk to a real person rather than the Meerkats so would suggest a broker like A Plan or perhaps NFU directly.

I would second speaking to A Plan, at Thatcham (01635 879910), for anything that isn't a boggo car. If you still have the classic it may also be worth exploring a multicar policy for a year as you may find that your NCD will then be applied to both cars when that policy expires next year.

[Scooobydont]

Collectingbrass said:

alscar said:

Congrats on the imminent retirement and the so called retirement car.
Sounds like you need to talk to a real person rather than the Meerkats so would suggest a broker like A Plan or perhaps NFU directly.

I would second speaking to A Plan, at Thatcham (01635 879910), for anything that isn't a boggo car. If you still have the classic it may also be worth exploring a multicar policy for a year as you may find that your NCD will then be applied to both cars when that policy expires next year.

I use A plan for my kit car and have used them for all the modified cars I have had, never had to claim but found them to very knowledgeable. I tried to get my bog standard Berlingo van insured with them but they were way off competitive quotes (they speacilse in modified). The chap I spoke to suggested modifying it and going back to them as they will probably be able to get it insured cheaper

[Sogra]

TwigtheWonderkid said:

Sogra said:

Put in that I have 10 years NCD from company but of course this is on both examples.

Just ensure before you push the button on whatever quote you get on whatever car you buy, that they are aware that what you have is a letter of claim free driving on a company car and not actual NCD (which is earned by having a policy in your own name and not claiming). You've just been a claim free driver on someone else's policy.

Fair shout. Also just thinking about it I have 20 years accident free on my classic car policy so may be able to use that as NCD, need to check.

[CraigyMc]

Sogra said:

TwigtheWonderkid said:

Sogra said:

Put in that I have 10 years NCD from company but of course this is on both examples.

Just ensure before you push the button on whatever quote you get on whatever car you buy, that they are aware that what you have is a letter of claim free driving on a company car and not actual NCD (which is earned by having a policy in your own name and not claiming). You've just been a claim free driver on someone else's policy.

Fair shout. Also just thinking about it I have 20 years accident free on my classic car policy so may be able to use that as NCD, need to check.

You can only use that NCD on one policy at a time.

When I went from company car to private car, no company would mirror my company car history. I actually had 20 years of claim-free motoring at that point, and the most I could find was 5 years NCD equivalent.

On the other hand, NCD isn't actually all that important anyway.