Insurance woes

Glyn Jennings · April 30

So after having sorted a new insurer for RX450h because LV and others are now saying they won’t insure them because of the amount be stolen the SC insurance has not been straightforward either. I reinsured the SC with the RAC through Moneysupermarket giving a value of £17,000 (optimistic I know) on their site. On checking this with the RAC they will only pay out the market value for the car which is £1-2000 private and £3-4000 forecourt. That is no good for me so l have had to cancel that policy losing £25 even though it is within the 14 day cooling off period and doesn’t start for a couple of weeks. I have now gone for an agreed value policy through Adrian Flux for basically £200 more so can now relax that hopefully if the worst happens I am not going to lose £1000’s.

Malc1 · April 30

So then, what Agreed Value have AF agreed ? …… and an excess ?

Malc

Boomer54 · April 30

1 hour ago, Glyn Jennings said:

So after having sorted a new insurer for RX450h because LV and others are now saying they won’t insure them because of the amount be stolen the SC insurance has not been straightforward either. I reinsured the SC with the RAC through Moneysupermarket giving a value of £17,000 (optimistic I know) on their site. On checking this with the RAC they will only pay out the market value for the car which is £1-2000 private and £3-4000 forecourt. That is no good for me so l have had to cancel that policy losing £25 even though it is within the 14 day cooling off period and doesn’t start for a couple of weeks. I have now gone for an agreed value policy through Adrian Flux for basically £200 more so can now relax that hopefully if the worst happens I am not going to lose £1000’s.

Good news is you figured all that out before it became a bad news scenario. Pays to know the small print.

Glyn Jennings · April 30

53 minutes ago, Malc1 said:

So then, what Agreed Value have AF agreed ? …… and an excess ?

Malc

I thought it was agreed straightaway when I purchased the policy however I now find I still need to upload photos of the car for confirmation and I won’t get the car back until tomorrow as it is having it’s airbag done. So provisionally the value is £17000 with an excess of £700. I realistically think the car is worth £15000 but it’s always down to what someone will pay. It’s one previous owner and now done 10,000 miles. I bought it 2 1/2 years ago at 7,600 miles for £12600 which at the time people thought it was at least £3000 under priced and I had a valuation of up to £19000. I’ve spent another probably £6000 on it but know that doesn’t really add much value.

if ever it was written off or something else I don’t really expect to get it’s true value but the market value is a joke.

Malc1 · April 30

I don’t know how these Agreed Valuations work BUT you say you had a valuation ( up ) to £19k …… surely this holds some sway ?
A written professional valuation ?
How do these insurers deal with this process I wonder 🤔

Hopefully one never has to find out eh !

Malc

Goonerboy · April 30

1 hour ago, Malc1 said:

I don’t know how these Agreed Valuations work BUT you say you had a valuation ( up ) to £19k …… surely this holds some sway ?
A written professional valuation ?
How do these insurers deal with this process I wonder 🤔

Hopefully one never has to find out eh !

Malc

Goonerboy · April 30

Just tried this shower at Adrian Flux and was quoted £4000 when Aviva quoting £2100. Not sure that there is an advantage with this mob.

Malc1 · April 30

I must say I’ve insured my 91 Ls 400 with a subsidiary of AF ……. I found it quite really difficult finding a Classic insurer last August when I bought this 2nd car !

Malc

Peter1244 · April 30

Well done, I have a classic car - agreed price policy at a very good valuation with Footman James, with an agreed limited annual mileage

Malc1 · April 30

I’ll remember Footman James

thank you

Malc

Glyn Jennings · April 30

3 hours ago, Malc1 said:

I’ll remember Footman James

thank you

Malc

I wanted to use Hagerty as I believe they have a good reputation but they won’t insure a car if it is kept on the street.

Neil E · April 30

5 hours ago, Malc1 said:

I don’t know how these Agreed Valuations work BUT you say you had a valuation ( up ) to £19k …… surely this holds some sway ?
A written professional valuation ?
How do these insurers deal with this process I wonder 🤔

Hopefully one never has to find out eh !

Malc

@Glyn Jennings easily solved with a winning prize at the June meet to help verify value at £20k. 🙂

GMB · May 1

What a palaver! It's taken me 5 hours to get insurance sorted. In short the problem ( apart from the price ) was that I declared an exhaust modification in the compare site and on the insurers website and it all entered correctly. When you go to the summary it wants me to declare NO modifications and will progress no further. Only Admiral's website and helpline worked. All the others seem to use the same forms and formulas which create the error/impasse. Finally got it done WITH the declared exhaust mod.

Flippin 'eck!!! FYI - ISF with H&S exhaust Fully comp with legal cover £600 - not great but not too bad considering all the grief some of us have had.🥶😵‍💫

Malc1 · May 1

That price sounds a “ bargain “ for a go-faster sports car type 😂

Malc

GMB · May 1

10 minutes ago, Malc1 said:

That price sounds a “ bargain “ for a go-faster sports car type

I suppose it's not too bad compared to the ridiculous prices for some electric vehicles. Maybe Admiral know that the isf has no CANBUS and has no mega expensive Battery to replace or write off🤔 in the event of a bump. I don't really know? Some of the other quotes were in the thousands though, maybe they were just plain ignorant or trying it on?

DAN@ADRIAN FLUX · May 3

On 4/30/2024 at 3:16 PM, Glyn Jennings said:

So after having sorted a new insurer for RX450h because LV and others are now saying they won’t insure them because of the amount be stolen the SC insurance has not been straightforward either. I reinsured the SC with the RAC through Moneysupermarket giving a value of £17,000 (optimistic I know) on their site. On checking this with the RAC they will only pay out the market value for the car which is £1-2000 private and £3-4000 forecourt. That is no good for me so l have had to cancel that policy losing £25 even though it is within the 14 day cooling off period and doesn’t start for a couple of weeks. I have now gone for an agreed value policy through Adrian Flux for basically £200 more so can now relax that hopefully if the worst happens I am not going to lose £1000’s.

Hi.

Glad we could help out with your insurance.

Regards,

Dan.

Glyn Jennings · May 3

21 minutes ago, DAN@ADRIAN FLUX said:

Hi.

Glad we could help out with your insurance.

Regards,

Dan.

Hi Dan, I am just waiting for confirmation of the agreed value and then I will be chuffed. It nice to see you are taking the time to take an interest in owners forums.

Regards

Glyn

Bob King · June 28

I’ve been studying the other insurance threads on the LOC, and have been rather concerned about the rise in premiums. I’ve been getting quotes off the comparison sites for the 3-4 months so know the costs to expect .

Have my SC430 and 3 door Rav4 on a multi car policy with LV, the add to price last November for the SC was £260 but was advised if it was a full year it would have been around £380 at the then current prices .

Yesterday I had the trigger price to jump ship if the renewal come in sky high …would have been Saga on RAV4 at £251.79 and Aviva Zero on SC430 £467.36 these prices cover the extras I wanted and from a know company..total £719.15

The SC430 was high as I only had 1 year NCB on it ☹️

LV’s renewal email popped up on the iPad this morning ……..and both car’s £720.00 👏🏻👏🏻👏🏻

I do wonder if the insurance companies see all the quotes I’ve been getting on the comparison sites and know how far they can push their luck 🤔🤔 …should they care !

…anyway happy bunny for this year 😎

Glyn Jennings · June 28

1 hour ago, Bob King said:

I’ve been studying the other insurance threads on the LOC, and have been rather concerned about the rise in premiums. I’ve been getting quotes off the comparison sites for the 3-4 months so know the costs to expect .

Have my SC430 and 3 door Rav4 on a multi car policy with LV, the add to price last November for the SC was £260 but was advised if it was a full year it would have been around £380 at the then current prices .

Yesterday I had the trigger price to jump ship if the renewal come in sky high …would have been Saga on RAV4 at £251.79 and Aviva Zero on SC430 £467.36 these prices cover the extras I wanted and from a know company..total £719.15

The SC430 was high as I only had 1 year NCB on it ☹️

LV’s renewal email popped up on the iPad this morning ……..and both car’s £720.00 👏🏻👏🏻👏🏻

I do wonder if the insurance companies see all the quotes I’ve been getting on the comparison sites and know how far they can push their luck 🤔🤔 …should they care !

…anyway happy bunny for this year 😎

Prices year on year are just always going to go up because of the amount of electric cars being written off. Have anything other than a minor bump and they don’t know if the Battery is unaffected especially a side impact I would have thought. If the Battery needs to be removed for the repair or to scrap the car how many can do that? I doubt they will stand the test of time like an SC will.