McLaren insurance

[McLaren fancy]

Finally thinking of buying a 1 year old 720s so I've just been trying to find a reasonable insurance quote, so I'm reaching out to current 720s owners for advice on which insurance company or broker can provide a competitive quote. I'm in my fifty's with clean licence, car garaged overnight, 3,000 limited miles previous experience with high powered vehicles etc etc I was thinking I would be an ideal candidate for a great quote but that does not seem to be the case with my first quote coming in at nearly 4k I certainly wasn't expecting that !! So any help appreciated.... Thanks

[Pioneer]

Lot of owner's insure with Admiral. Be careful though, you need to declare all options over base spec. irrelevant of whether fitted at factory or not.

[R8Reece]

Admiral, especially the multi car insurance policy, is very good value however you need to declare options and unsure if they accommodate an agreed final value option.

NFU Mutual, Chubb and First Point have been recommended on here before.

[JerryEXE]

As the other 2 guys have said, Admiral are very competitive but require all factory fit options to be declared. I emailed them the spec sheet and then spent almost 2 hours on the phone with them to ensure everything was covered but we got there in the end. Front lift seems to be the thing that causes them the most concern but when they realise it’s not an airbag system for slamming it to the ground they accept it.

If I hadn’t used Admiral then I’d have ended up with Zurich via Nowell and Richards and I’d recommend giving them a call (Mike Jones). They will negotiate to try and get your business.

To give you an idea of what I was quoted on a 2021 GT (I fit your description as a driver/owner):
Admiral - £570 for 6000 miles
Zurich (via N&R) - £1325 for 6000 miles, £1167 for 4000 miles, £1051 for 2000 miles
NFU - approx £1100
Locktons - approx £1500

Note, all of the above was with zero no claims discount as my previous, claim free 15 years of driving abroad didn’t count.

[AL001]

My 720 Spider is insured on Axa Specialist Vehicle policy via brokers Lockton, £1450 / 6,000 miles pa.

[RSbandit]

JerryEXE said:

As the other 2 guys have said, Admiral are very competitive but require all factory fit options to be declared. I emailed them the spec sheet and then spent almost 2 hours on the phone with them to ensure everything was covered but we got there in the end. Front lift seems to be the thing that causes them the most concern but when they realise it’s not an airbag system for slamming it to the ground they accept it.

If I hadn’t used Admiral then I’d have ended up with Zurich via Nowell and Richards and I’d recommend giving them a call (Mike Jones). They will negotiate to try and get your business.

To give you an idea of what I was quoted on a 2021 GT (I fit your description as a driver/owner):
Admiral - £570 for 6000 miles
Zurich (via N&R) - £1325 for 6000 miles, £1167 for 4000 miles, £1051 for 2000 miles
NFU - approx £1100
Locktons - approx £1500

Note, all of the above was with zero no claims discount as my previous, claim free 15 years of driving abroad didn’t count.

I'm with Admiral on a multicar policy and they've never asked me to give a full detailed spec of my 570s ( nor any other car). For reference I pay £600pa, I'm 42, over 10 yrs no claims bonus, London based but parked in underground garage.

[McLaren fancy]

Just like to say thanks to all the guys who took the time to post a reply RE "McLaren insurance" some great advice regarding suitable company's which I will look into today by hitting the phone and going online to try and bring the cost down to a reasonable level as some of you McLaren owners have mentioned it is possible. I will let you know how I get on and which company provided the best quote. Again many thanks .....Keith

[Fast Eddie]

McLaren fancy said:

Just like to say thanks to all the guys who took the time to post a reply RE "McLaren insurance" some great advice regarding suitable company's which I will look into today by hitting the phone and going online to try and bring the cost down to a reasonable level as some of you McLaren owners have mentioned it is possible. I will let you know how I get on and which company provided the best quote. Again many thanks .....Keith

Just a quick extra comment on Admiral - consistently the least expensive quotes and our family has had multi car with them for many years with almost no issues.

The comment is that you must ensure they will give you an agreed value of the car in the event of a catastrophe. They can be very difficult about this at quote time so unsure what might happen in the event of a write off.

[Streetbeat]

Manning for me, unlimited track days included and still cheaper than many others that i called. LV were also brilliant on my 4c.

[macdeb]

^^^^ Agreed. I'm with 'Mannings' again now with my McLaren as in the past I was in the unfortunate position of making a claim that was my fault, just me and my car (TVR). They were superb from start to finish in every regard. No quibble, no arguement, car seen to next day, back in short time and all dealt with hassle free. Now for me, THAT is what counts come renewal time, their after sales customer service was top notch. They are very competitive too although I know that track days are now on a need to do basis and no longer included after some expensive claims (didn't bother me as I don't track my car).

[R8Reece]

RSbandit said:

I'm with Admiral on a multicar policy and they've never asked me to give a full detailed spec of my 570s ( nor any other car). For reference I pay £600pa, I'm 42, over 10 yrs no claims bonus, London based but parked in underground garage.

They never asked me either - it was highlighted to me via a thread on here.

From what I recall it was fairly black and white but at best very grey so decided to stump up the £9.50 to update my policy. Although I can't recall reading a post where someone had been refused a claim, it struck me that as they are at the lower end of the market it could be used to avoid a payout.

As they say, always read the small print!

[JerryEXE]

R8Reece said:

RSbandit said:

I'm with Admiral on a multicar policy and they've never asked me to give a full detailed spec of my 570s ( nor any other car). For reference I pay £600pa, I'm 42, over 10 yrs no claims bonus, London based but parked in underground garage.

They never asked me either - it was highlighted to me via a thread on here.

From what I recall it was fairly black and white but at best very grey so decided to stump up the £9.50 to update my policy. Although I can't recall reading a post where someone had been refused a claim, it struck me that as they are at the lower end of the market it could be used to avoid a payout.

As they say, always read the small print!

It was the thread that you refer to that prompted me to ask them about factory fitted options … which they did then say needed to be declared.

[Chrism355]

Dont touch Admiral with a barge pole!!!! You only know how good an insurance company is when its time to pay out and probably like a lot of cheap insurance companies Admiral try to wriggle like an eel on a hook. Their small print limits payout to average of trade values nothing to do with market price, stick to the more bespoke insurers like Lockton, Chubb. When you find out that £100 you saved wasn’t worth it, its too late

[lawrywild]

Also using Admiral. Still not sure what to believe on the whole options saga. Either way, I bought a 'Launch Edition' spec car where most of the spec was included/standard, rather than being options, so technically that means I don't need to declare them.

[JerryEXE]

lawrywild said:

Also using Admiral. Still not sure what to believe on the whole options saga. Either way, I bought a 'Launch Edition' spec car where most of the spec was included/standard, rather than being options, so technically that means I don't need to declare them.

A cut and paste from the Admiral policy document …

‘Manufacturer’s optional extras and disability adaptations are only covered if they have been declared and we agreed to cover them.’

[xcentric]

just to note that options cover some strange things - not so relevant for McLaren's but a roofrack counts as an option, so if fitted has been used to deny a claim.....

So everything needs to be told to them. Had an issue once with an insurer because I hadn't told them about a second part-time job I had - when I took out the policy I asked them if I needed to tell them about the other role (a non-exec one that was 1 day a month) and they said no on the phone, but when I needed to claim they tried to not pay as I'd not informed them. Took some firm handling and some legal interventions before they realised they were at fault.

So with Admiral I'd send them the spec sheet too. (Not quite sure where you'd be on tyres if you were on different ones - if MOT legal then I think they are fine but if they classified them as a change then you might have issues.)

[RSbandit]

JerryEXE said:

A cut and paste from the Admiral policy document …

‘Manufacturer’s optional extras and disability adaptations are only covered if they have been declared and we agreed to cover them.’

Seems a ridiculous request tbh, it reads like they wouldn't cover the value of the options on the car if they hadn't agreed to them... so what about the rest of the car? Think an ombudsman would be getting the call if they tried to wriggle out of things based on the above.

[m3jappa]

How on earth would joe bloggs know exactly what options there are on a used car anyway?

[R8Reece]

m3jappa said:

How on earth would joe bloggs know exactly what options there are on a used car anyway?

With Audi, you can register your car online with them and the website details the original spec.

But yes, it's not easy which makes me think it could be used to wriggle out of a pay out.

[JerryEXE]

RSbandit said:

Seems a ridiculous request tbh, it reads like they wouldn't cover the value of the options on the car if they hadn't agreed to them... so what about the rest of the car? Think an ombudsman would be getting the call if they tried to wriggle out of things based on the above.

I agree with what you are saying … but as I was aware it had been discussed in a previous thread I thought I’d deal with it upfront rather than later (hopefully later will actually be never). Can you imagine the aggravation of trying to sort something like this out via the ombudsman after you’ve needed to make a claim!