Classic cars forum & vehicle restoration.

3xpendable · Joined: 19 Dec 2010 Posts: 222 Location: USA

I currently share a traders insurance with my dad and its usually about £450 a year each (£900 in total) but just had our renewal through and its gone up £200. I use this insurance to cover my daily driver and my MGB plus i'm fully comp to drive anything else etc on my insurance (even if the car i'm driving doesnt have its own)

So, is £500 or so a year a good price to insure two cars? I'm waiting to hear back from the broker to see if I can get him lower as i've had a few cheaper quotes (that have some clauses) but i'm just wondering if it might be cheaper and still as useful to insure my two cars seperately. Or can you get a policy where there is a 2nd car that is a classic or not your main car?

My daily driver is a 3 series if that helps. To be fair the policy I have is great as it allows me to drive other cars etc but if its double the cost of standard insurance I can do without it right now.

Any advice is appreciated.
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2013 Dodge Durango R/T Hemi
1965 Ford Anglia 106e Estate (LHD)
1964 Ford Anglia 105E 1500 GT (Dad)
1980 Porsche 911 SC Targa (Uncle)
1971 MGB GT (V8 project) -SOLD 2016
2005 MINI Cooper S JCW - SOLD 2016

Richard H · Joined: 03 Apr 2009 Posts: 2150 Location: Lincolnshire, UK

Sounds alright to me. Insurance for moderns has gone up a lot recently, and I think BMW's are seen by insurance companies as high risk, so that seems like pretty good value to me.

I pay about £600/year for my Austin Cambridge and A35, TPFT.

smiffy220 · Posted: Tue Feb 22, 2011 7:56 pm Post subject:

Speaking as an insurance underwriter, non-motor though, I would say that seems pretty good. I had 2 cars on one policy with admiral last year and was paying about £650, but they were 2 highish group cars.
Insurance is all going up, they reckon about 20% for private motor insurance this year, as all insurers are losing money and it is impossible to make a profit on car insurance anymore. I know nobody will feel sorry for insurance companies, but lets face it, companies can't trade for long making millions of pounds in losses every year.
The problem comes from these abulance chasing lawyers who people go to with the slightest of stiff necks, and suddenly they sue insurers for thousands of pounds. It's the insurers being ripped off these days and unfortunately the motorist (as usual these days) end up paying for it!
I would suggest looking around thoroughly for the best deal.
Dave
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Born to rally, forced to work!

1980 Opel Manta 2.0 SR Berlinetta
1934 Morris Cowley Four (my late fathers)

RobMoore · Joined: 16 Jan 2011 Posts: 105 Location: Peterlee

I would have heart failure at paying the kind of prices so far posted.
I am currently with FJ and thought i was getting a bum deal at 140 unlimited mileage with breakdown cover included as I'm hearing reports of RH being even cheaper.
Shop around a get quotes, but steer clear of the mainstream companies and don't even bother with comparison sites (yes they are good but only for mainstream stuff) there seems to be plenty of classic car insurers about.

P3steve · Posted: Tue Feb 22, 2011 8:24 pm Post subject:

quote - The problem comes from these abulance chasing lawyers who people go to with the slightest of stiff necks

Back in August last year I was hit by an old guy who pressed the wrong pedel on his car as he came up to the end of a road, so fast did he speed up as he shot out the side road that by the time he had crossed two lane and hit me side on he had enough force to turn my car (Ford Focus) on its side and was wedged under me I was on my own at the time. Six months later I'm still recieving treatment and cant lay in bed with out special pillows and a cocktail of tablets or sit for any lenght of time and might have to give up my job as a driving instructor as the doctors think that trying to look round all the time is making the problem worse and migraine headaches almost on a daily bases. On one occasion I tried to turn to look over my left shoulder and blacked out for a few seconds while a pupil was driving. Ive had to take a lot of time off work which has caused hardship for my wife and me and so far have not had a penny back. Not every one is on the make so please dont tar us all with the same brush. Believe it or not three months ago while on a driving lesson with a young girl driving this time we were hit on the side by an old guy coming out of a side road who "didnt see us" - two cars written off in three months though this time it was a slow impact and there was no one hurt, and they say lightning never strikes twice, Not had an accident in thirty years and then hit twice in three months.
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If the world didn't suck we'd all fall off

RobMoore · Joined: 16 Jan 2011 Posts: 105 Location: Peterlee

Inglewood · Posted: Tue Feb 22, 2011 9:09 pm Post subject:

Welshie has a Motor Traders policy. Such a policy provides a different range of cover from usual private policies. The circumstances of requiring a 'Traders policy needs thought. Maybe a tyre fitter, maybe a repairer taking customer cars on test etc.

Like with private car insurance the market can be competitive but generally price alone is not the be all and end all of deciding what insurer to use.

If there is a commercial angle to needing traders insurance you should shop around the brokers and really look at the cover provided.

It may be cheaper to insure the classic car(s) on a specialist policy leaving the traders commercial risk for the trader policy

Dirty Habit · Joined: 26 Mar 2008 Posts: 398 Location: West Midlands, UK

£500- £600 to cover the cars you own and provide FC for everything else you drive, is in my book, brilliant. I am paying over £700 for the three vehicles I own and in which I cover less than 5000 miles a year in total.
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1964 International Harvester

smiffy220 · Posted: Wed Feb 23, 2011 8:01 am Post subject:

3xpendable · Joined: 19 Dec 2010 Posts: 222 Location: USA