Insurance - Health Warning!
Discussion
I noticed today by chance that my insurance on the Griff is due in 2 days time. Last year's all inclusive policy from one of the "TVR Specialists" who advertise in Sprint gave me protected NCD, accident recovery and every bell & whistle you can name for under £500. Todays telecon went along the lines of:
Me: My policy expires in two days and you have not sent me a reminder.
Ins. Broker: July is a busy month. We gave you a good deal last year, but on a Griff you can add £1000 on top of last year's premium.
Eventually they were negotiated down to £830, a mere 70% higher than last year on the basis that I also have a family car.
I have not moved house, married, divorced, changed jobs or slid backwards through a hedge in the past year so I regard a 70% rise as a rip off.
If you are insured through these people, be warned, your policy could expire without warning, and be prepared for a big hike. In my case, 2 days may not be long, but its long enough to find a better deal than this.
I have not named the company here, but if anyone wants the details, e mail me.
Me: My policy expires in two days and you have not sent me a reminder.
Ins. Broker: July is a busy month. We gave you a good deal last year, but on a Griff you can add £1000 on top of last year's premium.
Eventually they were negotiated down to £830, a mere 70% higher than last year on the basis that I also have a family car.
I have not moved house, married, divorced, changed jobs or slid backwards through a hedge in the past year so I regard a 70% rise as a rip off.
If you are insured through these people, be warned, your policy could expire without warning, and be prepared for a big hike. In my case, 2 days may not be long, but its long enough to find a better deal than this.
I have not named the company here, but if anyone wants the details, e mail me.
Rick, give Norwich Union Direct a call. shpub said:
Blame the 10% of TVR owners who wrote their cars off this year! They are the real culprits.
WOW! Where did you get that statistic - and what does it mean?
10% of all TVRs?
10% of TVRs sold this year?
A number equivalent to 10% of TVRs annual production?
That's a big number. We've had our Chim five years now so that would mean sometime in the next five statistically we'll be writing it off!
Sounds like a LOT to me....WOW!
I thought I got a good deal on my insurance last year - but this year when I got the renewal it had gone up when I was expecting it to go down, as I had an extra years NCB. So I changed to a different company and nearly halved the cost of the premium even with a higher mileage limit! 
Don said:
Blame the 10% of TVR owners who wrote their cars off this year! They are the real culprits.
WOW! Where did you get that statistic - and what does it mean?
10% of all TVRs?
10% of TVRs sold this year?
A number equivalent to 10% of TVRs annual production?
That's a big number. We've had our Chim five years now so that would mean sometime in the next five statistically we'll be writing it off!
Sounds like a LOT to me....WOW!
It has come from several discussions on premiums that I have had with insurers. Typically, 5% of all TVRs dissapear each year through scrapping and insurance write offs. I worked that figure out from knowing the number of cars produced and the number still in existence and so on. Does vary but it is a reasonable stake in the ground.
It seems that TVRs are the biggest source of single vehicle accidents pro rata in the UK. Caused by the born again driver or the inexperienced driver not having the training/experience to handle the car and losing control.
The drop in prices has made the cars more accessible and this has prompted an influx of new drivers which has contributed to the problem.
Apparently Tuscan owners are the worst offenders currently but look at the number of people that have had this type of accident on PH and the numbers make sense. Several body shops are overflowing with crunched TIVs and I know one dealer that sold 3 GRiffs in as many weeks and two of them were smashed up in the fourth.
The past year has been pretty bad which is why the premiums have gone up, or restrictions have been placed or insurance companies are refusing certain risks by making the premiums silly or simply turning down cover.
there's no point in naming them. A lot of the specialists have the same approach, and the rules are set by the underwriters, not the brokers. No individual broker has just doubled their prices.
It depends on your particular profile as an owner/driver. Several people have been on here complaining about my insurers because of premiums 'doubling'. But my renewal came in at £555 for the Griff this year, over £250 less than last year. The lesson is to ring round everyone, and see who has the best risk match with your circumstances.
From what I can work out, the chances of your premiums being lower are increased if it is your second or third car, is garaged, is on limited mileage and if you have a record of driving performance cars (some will reduce premiums if you've done IAM or even RideDrive).
It depends on your particular profile as an owner/driver. Several people have been on here complaining about my insurers because of premiums 'doubling'. But my renewal came in at £555 for the Griff this year, over £250 less than last year. The lesson is to ring round everyone, and see who has the best risk match with your circumstances.
From what I can work out, the chances of your premiums being lower are increased if it is your second or third car, is garaged, is on limited mileage and if you have a record of driving performance cars (some will reduce premiums if you've done IAM or even RideDrive).
sounds about right. I'm doing the old phoning around game at the moment.
Got Norwich Union to drop £100 by raising the excess, deleting the guaranteed courtesy car and dropping legal expenses cover.
So the tip is not to pay for things you don't need.
Haven't made a decision who to go with yet though as I still have 2 weeks until renewal is due.
Got Norwich Union to drop £100 by raising the excess, deleting the guaranteed courtesy car and dropping legal expenses cover.
So the tip is not to pay for things you don't need.
Haven't made a decision who to go with yet though as I still have 2 weeks until renewal is due.
I no its not a Griff but classicline done a deal for me on a V8S
here's some points
No garage
6k per year
Accident in last 3 months
not driven a sports car for 15 years
Aggreed value (cost £15)bit of a rip off there
Excess £250
So at £287 im well chuffed,now i only got that policy 3 weeks ago so i would have thought i was prime candidate for a much higher premium
You might want to ring them
here's some points
No garage
6k per year
Accident in last 3 months
not driven a sports car for 15 years
Aggreed value (cost £15)bit of a rip off there
Excess £250
So at £287 im well chuffed,now i only got that policy 3 weeks ago so i would have thought i was prime candidate for a much higher premium
You might want to ring them
The insurance on our Demo Griffith 500 came up for renewal last week and what a shock we had! They wanted £1300 !! Ok so the policy has all the good features inc business use but still. A phone call to Mannings has resulted in a policy under £600 with all the same conditions plus selected Track days. The also saved us £80 on another vehicle and were very efficient and helpful to deal with. Ring around and especially those who know TVR's.
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