High St Insurance vs Specialist Insurance
Discussion
Greetings..
I've been doing the annual PITA job of looking for insurance and following on from the quotes shown on the GT3 thread I've been astounded at the prices people have been quoted for their £100K cars from the likes of Admiral.
Having nothing better to do this afternoon I did some ringing around... 40, Married, no transferrable NCD, garaged.
991GT3 -
Most of the specialist (high end ) insurers - those dealing with Hiscox/Chaucer/Zurich came back with quotes in the region of £1500.
A quick compare the market and Admiral comes back at £815
It gets more interesting when I add a couple of other cars..
For a 3 car policy 991GT3 / 993C2 / 964Targa
Specialsts - all £2k+ One was even £3K
Admiral - £1200
So... What do you get from his cox etc that you don't get from Admiral ? - I've seen the MP4 courtesy car thread, is that the difference? Or am I missing something else?
Do people insure £100K cars with Admiral/Elephant/Sheila's Wheels ?
I've been doing the annual PITA job of looking for insurance and following on from the quotes shown on the GT3 thread I've been astounded at the prices people have been quoted for their £100K cars from the likes of Admiral.
Having nothing better to do this afternoon I did some ringing around... 40, Married, no transferrable NCD, garaged.
991GT3 -
Most of the specialist (high end ) insurers - those dealing with Hiscox/Chaucer/Zurich came back with quotes in the region of £1500.
A quick compare the market and Admiral comes back at £815
It gets more interesting when I add a couple of other cars..
For a 3 car policy 991GT3 / 993C2 / 964Targa
Specialsts - all £2k+ One was even £3K
Admiral - £1200
So... What do you get from his cox etc that you don't get from Admiral ? - I've seen the MP4 courtesy car thread, is that the difference? Or am I missing something else?
Do people insure £100K cars with Admiral/Elephant/Sheila's Wheels ?
Hello all,
In my opinion and I am slightly biased coming from the prestige body repair industry (Porsche approved amongst others) It is good to see that people are looking at the differences between insurers but what doesn't seem to be prominent in peoples minds is how much say they will have about where their car is repaired, if they need to make a claim. The frustration and problems that this can cause will make a few (even hundred) pounds saving on the premium fade to nothing when it comes to making a claim.
When buying a policy always read the small print. Did you know that Axa and Swiftcover have it written into their policy (therefore legally binding) that they will instruct a repairer and if you refuse to use them, you pay the difference in the bill....and the difference is considerable when you see their payment terms.
Other insurers will increase (even double) your excess if you deviate from their preferred repairers when claiming.
Just a bit of advice....always read the small print and make sure that you can nominate your repairer without it costing you when it comes to the crunch. Also note it is the repairer that pays for and supplies the customer so don't be swayed by the "you won't get a courtesy car if you don't use our repairer" line.
Best wishes
In my opinion and I am slightly biased coming from the prestige body repair industry (Porsche approved amongst others) It is good to see that people are looking at the differences between insurers but what doesn't seem to be prominent in peoples minds is how much say they will have about where their car is repaired, if they need to make a claim. The frustration and problems that this can cause will make a few (even hundred) pounds saving on the premium fade to nothing when it comes to making a claim.
When buying a policy always read the small print. Did you know that Axa and Swiftcover have it written into their policy (therefore legally binding) that they will instruct a repairer and if you refuse to use them, you pay the difference in the bill....and the difference is considerable when you see their payment terms.
Other insurers will increase (even double) your excess if you deviate from their preferred repairers when claiming.
Just a bit of advice....always read the small print and make sure that you can nominate your repairer without it costing you when it comes to the crunch. Also note it is the repairer that pays for and supplies the customer so don't be swayed by the "you won't get a courtesy car if you don't use our repairer" line.
Best wishes
REYNOLDSLTD said:
Hello all,
Just a bit of advice....always read the small print and make sure that you can nominate your repairer without it costing you when it comes to the crunch. Also note it is the repairer that pays for and supplies the customer so don't be swayed by the "you won't get a courtesy car if you don't use our repairer" line.
Best wishes
Just picking up on that point, Admiral said exactly that.. "you won't get a courtesy car if you don't use our repairer" Just a bit of advice....always read the small print and make sure that you can nominate your repairer without it costing you when it comes to the crunch. Also note it is the repairer that pays for and supplies the customer so don't be swayed by the "you won't get a courtesy car if you don't use our repairer" line.
Best wishes
But you're saying that if I decide to send my car to an OPC approved body shop, its the body shop that supply the courtesy car, which is great, but does it mean that Admiral won't pay for it?
Hello again,
The insurers don't pay for the courtesy car. It is part of the agreement between insurer and approved repairer that it is actually the repairer that supplies and pays for the courtesy car which is why, to be fair to repairers, most body shop courtesy cars are small like corsas etc.
There may be rare exceptions to this i.e if you have specifically paid for an enhanced hire car within your own premium, but the vast vast majority of courtesy cars are provided at the repairer's cost and there is no contribution from the insurer.
If you are unlucky enough to be hit by another driver (who is insured), the other driver's insurer will have to pay for the hire car that you drive whilst your car is being repaired. In this instance the insurer will be very quick to offer a hire car (from i.e enterprise rent a car) in order to avoid higher costs that may be incurred if you use a credit hire / accident management company.
The insurers don't pay for the courtesy car. It is part of the agreement between insurer and approved repairer that it is actually the repairer that supplies and pays for the courtesy car which is why, to be fair to repairers, most body shop courtesy cars are small like corsas etc.
There may be rare exceptions to this i.e if you have specifically paid for an enhanced hire car within your own premium, but the vast vast majority of courtesy cars are provided at the repairer's cost and there is no contribution from the insurer.
If you are unlucky enough to be hit by another driver (who is insured), the other driver's insurer will have to pay for the hire car that you drive whilst your car is being repaired. In this instance the insurer will be very quick to offer a hire car (from i.e enterprise rent a car) in order to avoid higher costs that may be incurred if you use a credit hire / accident management company.
Here's some useful benefits that are/were included as Standard on all Chubb policies, and which differentiate them from most others:
Agreed value of car (adjusted each policy year) - it gets stolen or written off, that's what they pay.
Comprehensive cover for anyone else to drive your car (provided they don't live at your address - in which case they'd need to be a named driver instead).
Comprehensive cover for you to drive ANY other car - you borrow a Carrera GT, you're covered. I think this applies to spouses and named drivers too.
You decide where your car gets repaired.
Better than normal European cover - all policies cover you for use in the EU only to the minimum requirements of the country you're in - pretty much third party only unless you notify them and get a green card (or equivalent).
Agreed value of car (adjusted each policy year) - it gets stolen or written off, that's what they pay.
Comprehensive cover for anyone else to drive your car (provided they don't live at your address - in which case they'd need to be a named driver instead).
Comprehensive cover for you to drive ANY other car - you borrow a Carrera GT, you're covered. I think this applies to spouses and named drivers too.
You decide where your car gets repaired.
Better than normal European cover - all policies cover you for use in the EU only to the minimum requirements of the country you're in - pretty much third party only unless you notify them and get a green card (or equivalent).
Having just done the renewal on my car....
Quotes will obviously vary wildly based on postcode, I live in a safe neighbourhood which also 'appens to be the car crime capital in the UK (BR7).
What I would say on Admiral and the cheaper quotes is that generally speaking, they don't quote you correctly, you need to call them and declare all your options.
Especially with Admiral, once you declare all the options on the car, the quotes level up.
I can guarantee that most Porsche owners going in through Admiral will not be fully covered.
I say, save yourself a headache and go with Aviva, their cover is first rate and once I had negotiated with them and put my home insurance through them, they were actually the cheapest.
£1,500 per year sounds about right to me on a new GT3, I assume those quoting £500 per year on the other thread have not made a claim in 20-30 years, if ever.
Carl_Docklands said:
£1,500 per year sounds about right to me on a new GT3, I assume those quoting £500 per year on the other thread have not made a claim in 20-30 years, if ever.
Non-fault claim this year, but 12 years NCD.There were a number of firms quoting around £500 for me, but I'll probably pay 50%-100% more for better cover from a recognised specialist insurer...
Went through the same process of silly quotes from specialists and have been with Admiral for the last couple of years - circa £700 for 997.2 C2S + X5 xDrive40d. Mind you, mid-50s, living Scottish Highlands, so scarcely a high-risk area. Had a small claim last year on the X5 (other party at fault) and had to invoke Admiral's legal protection to sort the other side out. Generally handled well, although they first provided a Citroen C1 as a courtesy car - with completely and illegally bald tyres. I've been an IAM member since 1987 and their own Surety scheme has gone in recent years from very good to utterly useless - they're now a complete joke.
Carl_Docklands said:
Having just done the renewal on my car....
Quotes will obviously vary wildly based on postcode, I live in a safe neighbourhood which also 'appens to be the car crime capital in the UK (BR7).
What I would say on Admiral and the cheaper quotes is that generally speaking, they don't quote you correctly, you need to call them and declare all your options.
Especially with Admiral, once you declare all the options on the car, the quotes level up.
I can guarantee that most Porsche owners going in through Admiral will not be fully covered.
I say, save yourself a headache and go with Aviva, their cover is first rate and once I had negotiated with them and put my home insurance through them, they were actually the cheapest.
£1,500 per year sounds about right to me on a new GT3, I assume those quoting £500 per year on the other thread have not made a claim in 20-30 years, if ever.
My multicar with Admiral is coming up for renewal - what experience have you had with them for claims? Do they refuse to pay out for repairs by Porsche approved body shops like Tonbridge? If they do, I'll need to find a different insurer for our 3 cars.Quotes will obviously vary wildly based on postcode, I live in a safe neighbourhood which also 'appens to be the car crime capital in the UK (BR7).
What I would say on Admiral and the cheaper quotes is that generally speaking, they don't quote you correctly, you need to call them and declare all your options.
Especially with Admiral, once you declare all the options on the car, the quotes level up.
I can guarantee that most Porsche owners going in through Admiral will not be fully covered.
I say, save yourself a headache and go with Aviva, their cover is first rate and once I had negotiated with them and put my home insurance through them, they were actually the cheapest.
£1,500 per year sounds about right to me on a new GT3, I assume those quoting £500 per year on the other thread have not made a claim in 20-30 years, if ever.
I had no problem with Admiral regarding using a Porsche approved bodyshop. My repairs were actually carried out by Reynolds in Worcs. who replied above.
I did have a problem when Admiral refused to pay £25 for coat sealant on a £4,500 claim simply because I omitted it from my declared options list.
I took that as a bad omen and moved my insurance to Aviva at the next opportunity.
I did have a problem when Admiral refused to pay £25 for coat sealant on a £4,500 claim simply because I omitted it from my declared options list.
I took that as a bad omen and moved my insurance to Aviva at the next opportunity.
Edited by Carl_Docklands on Saturday 16th November 12:33
Have heard good things about Aviva but never been with them myself.
LV refused to insure my Cayman S due to it not being "one of the cars they will cover".
Try Pace Ward - I find them very competitive and you get a personal service. http://www.paceward.com/insurance/motor-insurance/...
LV refused to insure my Cayman S due to it not being "one of the cars they will cover".
Try Pace Ward - I find them very competitive and you get a personal service. http://www.paceward.com/insurance/motor-insurance/...
I'll be on to them and Henderson Taylor in the morning... and Aviva...
I'll be back on to the Hiscox brokers to see what they say as well.
I take the point about 3rd party cover, but the only person I know with a CGT that would maybe, perhaps, consider, possibly giving me the keys has 'any driver' cover for it anyway.... so Im not fussed about that.
The added complication I add is that my brother and i share cars but not addresses which is always fun. This is where Admiral actually came out on top because their multi car cover allows individual policy holders on each car, whereas the Hiscox policies bundled them all together with me being a named driver on the policy (cos I'm the baby)
Busy day on the phone tomorrow then...
I'll be back on to the Hiscox brokers to see what they say as well.
I take the point about 3rd party cover, but the only person I know with a CGT that would maybe, perhaps, consider, possibly giving me the keys has 'any driver' cover for it anyway.... so Im not fussed about that.
The added complication I add is that my brother and i share cars but not addresses which is always fun. This is where Admiral actually came out on top because their multi car cover allows individual policy holders on each car, whereas the Hiscox policies bundled them all together with me being a named driver on the policy (cos I'm the baby)
Busy day on the phone tomorrow then...
I got a quote from Aviva which was only marginally cheaper than Admiral - I'm going to call Admiral to see if they'll go lower.
As for claims, I did have a claim with my last insurer, Elephant, a few years back on my m3 and they were great in handling the claim - they didn't make any fuss at all about BMW doing the bodywork repair and it wasn't cheap! Elephant is part of the Admiral group.
As for claims, I did have a claim with my last insurer, Elephant, a few years back on my m3 and they were great in handling the claim - they didn't make any fuss at all about BMW doing the bodywork repair and it wasn't cheap! Elephant is part of the Admiral group.
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