Insurance

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Permalink Reply by Richard on March 21, 2010 at 2:06pm

I use Heritage (Norton) for my 92 M5. They class anything 15 years or older as a classic and it is quite cheap. I didn't have no claims as I was out of the country and it is a group 20 car. No points, over 30. £350 fully comprehensive for the year. They also gave me an agreed valuation certificate for £8000 which isn't bad at all.

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Permalink Reply by Alex Martin on March 21, 2010 at 2:33pm

Hi richard, they came back with £3,500. i know i have 3 points and im only 24 years old but christ thats alot. I only want to use it for going out and about in and will only be doing around 5000 miles a year

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Permalink Reply by Andrew Skinner on March 21, 2010 at 2:40pm

Ive always found Direct Line the cheapest. Im 21 years old and have a 728i and pay just over £500 a year fully comp. Thats with 4 years ncb.

Ive found the compare sites to be pretty rubbish for my age group.

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Permalink Reply by Richard on March 21, 2010 at 2:42pm

Wow.....
I don't really understand that?
I was 24 when I got my 92 M5 and it wasn't too expensive then.
Maybe you need to get an M5 :)
Maybe risk 3rd party with a high deductable till you cross the 25 hurdle. For some reason insurance companies think we all get sensible when we turn 25? Nonsence ;-)

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Permalink Reply by Andrew Skinner on March 21, 2010 at 3:01pm

Ive always found that the insurance is done on statistics...not car insurance groups etc. I very recently had a Rover 220D, Basically it was quicker to walk than take the rover and was built as well as a primary school project..yet the insurance was MORE than my 728i.

When the insurance company calculates my premium they look at how many 21 year olds have accidents in 728's. Because there are very very very few lol, the risk is considered low.

A perfect example is a friend of mine had a realy old pug. Eventually it got written off due to rust, she went out and bought another one, every single detail was identicle, colour, engine size, trim etc the only difference was the year it was built. It was one year younger which showed (on there computers) that more people crashed the younger car and so her insurance rose! Completely stupid I know.

Its all about trying to differentuate yourself from the stereotypical person that is guna crash! I find that Fully comp is cheaper than 3rd party (Becuase all youngsters go 3rd party because they think its cheap - staticstics). I also find being generous but not silly on the valuation helps (people who have more expensive cars are more likely to look after them).

Keep going back and tweek your details and you will amazed at how much your premium will drop just by adding £500 to your car value etc. Make sure its believable though! if you have a crash you dont want them coming round and seeing your valued £4k beemer as a complete rust bucket lol.

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Permalink Reply by Alex Martin on March 21, 2010 at 3:19pm

Thanks guys I will keep looking and will let you know how I get on

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Permalink Reply by Alex Martin on March 23, 2010 at 10:58am

Hi guys, i have found a site called www.sureterm.com that does classic cars and they have quoted me £500 for a full year which is the best i have found so far

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Permalink Reply by Richard on March 23, 2010 at 12:10pm

Much better! Mine is up in a couple of months so I might take a look :)

Alex Martin said:

Hi guys, i have found a site called www.sureterm.com that does classic cars and they have quoted me £500 for a full year which is the best i have found so far

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