GT4 insurance options

[sebulban]

I have looked around at a few threads on costs of insurance for the Gt4 and certain companies. Also a few pitfalls like Admiral being cheapest but don't have an accident as they wont pay you F all.....

Those that have invested in a GT4 who did you end up going with? What sort of costs?

If I put in list price of £65k I can get £500 for the year but the actual price doubles it.

Thanks in advance.

[Shiverman]

Porsche insurance from Marsh (Avila policy) was actually very reasonable for me and at an insured value of over £100k. Unlike when I changed for the 991GTS and they really stiffed me!

You will need a tracker if the value is above £75k iirc. And you get 2 days track cover per year as well.

[BubblesNW]

Give Matt a call at Henderson Taylor. Agreed valuation above list (with a supporting letter from a dealer) send a few photos and you also get 6 track days included for a reasonable price.

[sebulban]

Great call.

I've gone with Henderson Taylor. Bit more expensive but splitting hairs when you buy cars of this price and the insurance is less than 1% of the cost!!!!

Plus peace of mind with a guaranteed value. Legal cover. Reasonable excess. Unlimited track days. And double the mileage I requested.

Plus Matthew in their office was a good guy and helpful.

[finestjammy]

My partner was unfortunate to have two fault claims with Admiral. They were absolutely fine, no problems at all. You can choose where to have your car repaired, as we did, but you lose he right to a hire car if you do. We chose the Mini official body shop rather than just car clinc and got a hire car for the duration of the repairs provided by Mini. No hassle at all. I dare say there are horror stories too though as well

[nickfrog]

sebulban said:

Also a few pitfalls like Admiral being cheapest but don't have an accident as they wont pay you F all.....

Why wouldn't they ?

[nudgerwilliams]

I'm with Manning. About £950 for 5,000 miles. Includes UK track day cover provided an ATDO organiser (not all of them are eg RMA). Agreed value. You get to talk to a real human being who understands these sorts of cars and makes sensible judgements (eg when I replaced suspension on my 964RS for non-standard, higher quality items their view that was that made the car safer and didn't hike premium for mods).

[sebulban]

Admiral consider almost everything a "modification." The conversation I had with their rep was akin to a dentist visit. If you actually get into the nitty gritty of their terms and conditions too the "market value" payout is very wolly. Ive had a high level lawyer advise take a peek at it.

So for peace of mind Ive picked someone who specialises in high end cars and should the worst happen i.e a total loss - I will get the agreed value with no detective looking for a problem to not pay out. Ive worked in Insurance Motor Claims too for a world leading brand and know how it goes.

Also for the sake of a few hundred quid I personally don't see the need to look for cheapest. I intact LOVED the strap line on the Hendersons website:-

"We guarantee to beat your renewal quote ... Blah, Blah, Blah!
... Bored of hearing the same thing? So are we.

At Henderson Taylor we see things differently.

We don't do gimmicks.

What we do is provide professional advice to help you choose the best cover for you."

Admiral, like most popular insurance companies, are after the market share of run of the mill cars. Anything specialist and they have issues.

Now - I am not saying don't use Admiral or hating on their service as never used it. I don't doubt that people making successful claims is true too. But has anyone had a high end sports car stolen, or total loss'd, and had any of these guys pay out the FULL MARKET VALUE, which is always over list price. Id be interested to hear.

And for me if you are buying 6 figure cars (or approaching that) scrimping over a few hundred quid seems a bit illogical.

I also liked that as soon as you ring up Henderson you will have a proper person speaking to you who doesn't have a wall of calls piling up behind him whilst you let him know your car is scrap! LOL.

[mdianuk]

Proof is in the pudding as they say, but I went with a mainstream insurer, no need for a tracker, selected market value between £75k-£100k rather than a specific price, and have the cover needed. I find these specialist insurers just charge a huge premium for the reassurance of cover when the majority use the same parent companies overall. Obviously if you have mods, or need track cover, having a specialist insurer may be cheaper.

[sebulban]

mdianuk said:

Proof is in the pudding as they say, but I went with a mainstream insurer, no need for a tracker, selected market value between £75k-£100k rather than a specific price, and have the cover needed. I find these specialist insurers just charge a huge premium for the reassurance of cover when the majority use the same parent companies overall. Obviously if you have mods, or need track cover, having a specialist insurer may be cheaper.

I get that..... but £700 a year or £1000 a year for a 100 grand car..... seems like splitting hairs. If it was £300 V £2000 I would have to have a look.

[sebulban]

finestjammy said:

My partner was unfortunate to have two fault claims with Admiral. They were absolutely fine, no problems at all. You can choose where to have your car repaired, as we did, but you lose he right to a hire car if you do. We chose the Mini official body shop rather than just car clinc and got a hire car for the duration of the repairs provided by Mini. No hassle at all. I dare say there are horror stories too though as well

What car do you have insured?

[nutbehinddawheel]

sebulban said:

I get that..... but £700 a year or £1000 a year for a 100 grand car..... seems like splitting hairs. If it was £300 V £2000 I would have to have a look.

So a premium 42% higher is ok?
Even if like for like ?

I have a GTO for sale 499k but you can have it for £860k

Edited by nutbehinddawheel on Thursday 24th November 18:07

[mdianuk]

sebulban said:

I get that..... but £700 a year or £1000 a year for a 100 grand car..... seems like splitting hairs. If it was £300 V £2000 I would have to have a look.

In response though, assuming no conditions apply as I mentioned (track days, mods etc), £300 difference for nothing makes no logical sense to me. Chances are many of these specialist brokers are using the major players anyway, when it comes down to it, they are all underwrote by the same said companies, with the same yes or no positioning. It's money for old rope imo.

[finestjammy]

sebulban said:

What car do you have insured?

My partners Cooper S and my Cayman S. Not had to claim on the Porsche...yet

As others have said you do need to tell them about all options fitted to the car.

[sebulban]

finestjammy said:

My partners Cooper S and my Cayman S. Not had to claim on the Porsche...yet

As others have said you do need to tell them about all options fitted to the car.

Bit different to ringing up and claiming a total loss on a car way over list price?

[sebulban]

nutbehinddawheel said:

So a premium 42% higher is ok?
Even if like for like ?

I have a GTO for sale 499k but you can have it for £860k

Edited by nutbehinddawheel on Thursday 24th November 18:07

Prove to me its like for like?

[sebulban]

mdianuk said:

In response though, assuming no conditions apply as I mentioned (track days, mods etc), £300 difference for nothing makes no logical sense to me. Chances are many of these specialist brokers are using the major players anyway, when it comes down to it, they are all underwrote by the same said companies, with the same yes or no positioning. It's money for old rope imo.

Insurance is a con for sure.

The cover offered by Admiral I believe is different to what I will be getting from Hendersons. Plus I see value in not having to ring up a call centre. I don't think you get track cover with Admiral & their T&C's concern me having worked in Motor Insurance as a student. And you have to go listing all sorts of "modifications" which actually aren't when you speak to Admiral. Who knows what the quote would have been if we I listed what they think are extras!

[sebulban]

nutbehinddawheel said:

So a premium 42% higher is ok?
Even if like for like ?

I have a GTO for sale 499k but you can have it for £860k

Edited by nutbehinddawheel on Thursday 24th November 18:07

And I wont start on the flawed logic..... "I paid 20p extra for some bread earlier over Tescos own brand and because of that I will now buy a house for £200k more than its asking price."

:-/

[finestjammy]

sebulban said:

Bit different to ringing up and claiming a total loss on a car way over list price?

I was just passing a positive experience of using Admiral. I've never had an issue with them when claiming. You never mentioned that total loss over list price in your first post was your main concern, you just said that they don't pay out when of course they do.

I've used RH Classic with agreed value for my TVR, never had to claim though. I'd probably look for an insurer offering an agreed value that you are happy with for peace of mind.

My first rule with insurance companies if that I don't trust any of them. If my mileage changes by 1,000, I tell them, if I have paint protection applied, I tell them. It took me an age to tell Admiral all of the options fitted to the Cayman, I even included the coloured Centre caps

[sebulban]

finestjammy said:

I was just passing a positive experience of using Admiral. I've never had an issue with them when claiming. You never mentioned that total loss over list price in your first post was your main concern, you just said that they don't pay out when of course they do.

I've used RH Classic with agreed value for my TVR, never had to claim though. I'd probably look for an insurer offering an agreed value that you are happy with for peace of mind.

My first rule with insurance companies if that I don't trust any of them. If my mileage changes by 1,000, I tell them, if I have paint protection applied, I tell them. It took me an age to tell Admiral all of the options fitted to the Cayman, I even included the coloured Centre caps

Sorry if my tone appeared anything other than leisurely. This really is informative for me all the way.

I posted GT4 insurance options - sort of a giveaway though ;-)

And yes I don't trust either. I insured my Cayman S through Privilege and cheap as chips and never had to claim so who knows what they are like. Good you did well with Admiral though. But I was on the phone for a good 40 minutes trying to get figures from them and for sure when i submitted the spec of the Gt4 the premium would have jumped up.

I now have a guaranteed value, track days, legal cover (an extra on most policies) & the peace of mind that should anything happen Im sorted. PLUS it only cost me another £200. In the grand scheme of a 6 figure car, call me a simpleton, but it seams like peanuts!

I would be VERY interested to hear of someones claims experience on a car over list though. I can imagine when phoned up about the theft of say their 458 Speciale & Tesco Insurance said "Its a few years old we think market value is £150k."