Classic insurance uk 2024

Morning all

I’m well aware of the massive hikes in insurance costs over the last couple of years for everyday motoring. I’m interested to know if people have experienced the same inflation with Classic Insurance.

My renewal with RH has arrived and has increased 20% this year to be £240, for a 3000 mile restriction in a £40k agreed cover, including breakdown cover.

How does this compare with anyone else ?

Thanks
Richard

Richard, the renewal for my Sprint recently came through from Haggerty, similar value/mileage to yours. It has risen by £44.29 to £322.43

I have a couple of weeks now to ring around for comparisons.

Tim

I’ve just renewed my Elise insurance with Direct Line and it’s exactly the same as last year at £250.

I use RH as well Richard, and have done so for a few years now. My policy went up 20% this year as well, to £425, but that is insuring 2 cars with them. Even at that price, I find their policy pretty good, as it includes breakdown in this country and abroad, and the dreaded salvage retention without deduction, should the worst happen.

Of course, you only find out just how good your insurer is should the worst happen.

Leslie

My RH went down to £170 after I dropped my value to £12,000 from £20,000. I have a 4,000 mile limit though I don’t usually reach 3,000. I also have ‘recovery’ but should cancel it as my wife’s insurance covers it,

My RH renewal in December was £186. This is with a value of £15,000.

‘My RH went down to £170 after I dropped my value to £12,000 from £20,000’

That does not sound like a very sensible thing to have done to me. What sort of Elan are you going to be able to purchase for £12k in the event of a write off? Certainly not a road going one, or any one.

Leslie

Apart from a couple of areas requiring remedial work the bodywork has not had any attention since I bought it in 1969 so is well marked. The mileage is very high, nearly 300,000 miles, and I have done nearly all the work myself so there is no record of professional maintenance. The galvanised chassis was fitted, by St Wilkins, in 1990 and is fine and so are the side-frames that I replaced at about the same time; otherwise only machining has been done elsewhere.

What would you pay for such a car?

Imo it’s not what you would pay for your car. It’s how much you need to buy a replacement. Your unlikely to find a car like yours for sale, so how much does the nearest car cost?

I suspect you need a chunk more than 12k to buy a working elan.

Hi Chaps,
So my Elan insurance has just jumped up to £304 from £174 with Carole Nash, with the same guaranteed value and restricted mileage.

Has anyone found a reputable insurer offering anything that is more “realistic”.

Thanks
Mark

Good morning Mark.
I have always used Routen Chaplin and like everyone else my insurance has gone up this year.
It has risen from £172.00 to £189.00. This covers a valuation of £30,000, RAC breakdown, salvage retention and two drivers. Club membership is needed.
I have never used their services.
They do seem to have reduced my mileage limit from 3000 miles to 1500 without asking me, but that is sufficient.
Best of luck
Eric in Burnley
1967 S3SE DHC

The S4 went up from £240 to £260, but my son is on the policy.
The GTS I have insured for the road ,comprehensive, but only for the F&T as it really doesn’t do road miles.
That went from about £260 to £450, so I refused, let it lapse, then requoted the other day when I was on the phone to them for my wife’s classic Fiat 500. They now wanted £180, er, yes please.

I’ve recently switched from Lancaster back to Peter James.
Elan+2 and Triumph Stag, Agreed value for both, 5000 miles each, including work mileage on the Stag. 2 named drivers, Recovery and retention after accident.
Total £315
Tim

Hi,
Just ato close the circle. I went with ClassicLine (tel 01455241414), I use them for my Exige and Elise also.

cover as follows…

Fully Comp.
Break down cover and recovery, including Europe.
Unlimited miles
guaranteed value @£50K
Excess £75 windscreen and £200 collision

At a price of £204 I was really happy with that.

cheers
Mark

Just to update: My New Year renewal with RH for value of £12,000 and 5000 miles was priced £203, but new quote for a value of £25,000 and 5000 miles was £226, just 12% higher, so I accepted and paid for it.

I really don’t need to skint on such things!

Value - is this for market valuation or agreed valuation following submission of full description and photographs?
Malcolm

It’s my estimate of the price of a replacement, which is the company’s description of the payout, but I know that in the event of a claim they will assess the value on what they can see. At my age I’m really not too bothered about it.

As a retired insurance broker I would say that an agreed value is essential in order to avoid haggling should the car ever be written off. However, with values having taken a dip over the last few years some people may still have policies with values based on Elan prices when they were sky high and in real terms now over insured. You might be paying more than you need to if the car was insured on today’s realistic replacement value. If you look at adds for Elan’s, values are down and so to replace it “like for like” now costs less than a few years back.

Lastly, looking through the posts no one seems to mention the actual insurance company they are insured with, only the broker. It is the company that pays up and it is more important that you are have a good company rather than a good broker, both would be nice though!

This year I insured with Adrian Flux with agreed value of £45k for my S4 was £230 my + with agreed value of 28k was £145.

I used to insure with RH due to their standard retention of salvage, and their included breakdown recovery however I found their prices shooting up over the last couple of years to over £600 for both cars.

Adrian Flux offer retention of salvage, although I did have to specify I required this, as it was unclear whether it was a standard item for classics.

I have AA membership that covers me for any car I am driving, so that’s the recovery aspect covered.

‘Lastly, looking through the posts no one seems to mention the actual insurance company they are insured with, only the broker. It is the company that pays up and it is more important that you are have a good company rather than a good broker, both would be nice though!’

They are all good when they are taking your money. Its when the time comes to paying out that you find out just how good they really are. Fortunately, only about 5% of policy holders, my guesstimate, will ever find out.

Leslie