Classic car insurance - the downside :(

Imp

I've had my 2cv for nearly 16 years, and started off on a standard insurance policy. After one incident it became clear that a classic car policy would be better, as I could get a guaranteed value, not just what 'the computer' says it's worth. So I changed to a classic car insurer. After a few years I spotted a paragraph on the policy which said that I was no-longer earning any no-claims bonus, as I was on a classic car policy.
It's now become necessary for me to drive a more modern car, and that's where the problems have begun. I 'phoned my insurance provider and explained the situation. The cheapest quote they could give me was £1500 because I have no NCD. So despite nearly 16 years of claim-free driving, I'm treated as a newbie.
A bit of shopping around has brought it right down, but I need to prove my claim-free years. Fortunately Endsleigh were very good and said they'd send out a letter for the 7 years I was with them. Now I have to persuade my other insurance company to do the same.
If you decide to drive on just a classic car policy, make sure you keep proof of your claim-free years, and shop around if you need a modern car policy.

dacouch

Do you live with a partner who has a car insured?

If so the easier way may to get a quote on the basis of mirroring their no claims bonus

Richard53

There may be no NCD on the classic policy, but would it be possible to get the insurers to simply write a letter stating that there have been no claims on the policy between the relevant years, regardless of discount?

oldagetraveller

Richard53 wrote: »

There may be no NCD on the classic policy, but would it be possible to get the insurers to simply write a letter stating that there have been no claims on the policy between the relevant years, regardless of discount?

That's exactly what I did when I stopped using a classic as daily driver. Isn't that also sometimes required when changing insurers when the new insurer requires written proof of no claims for x years?
I know I've had to do just that on occasion.

Lum

Very few insurers give you anything worthwhile for more than 5 years NCB, so if you've got Endsleigh to write a letter saying you have 7 years of claims free driving, then that should be all you need.

forgotmyname

But the classic policy probably saved you far more than £1500 over 16 years.

I have insured all sorts of classics for £99 or less over the years.

j69ant

Hi,

I had a similar situation with a previous traders policy.

Give adrain flux a try.

They still wanted me to start with 0 no claims, but their
Prices were hundreds cheaper tjan most other companies.

Ring them and explain the situation.

Cheers

Richard53

oldagetraveller wrote: »

That's exactly what I did when I stopped using a classic as daily driver. Isn't that also sometimes required when changing insurers when the new insurer requires written proof of no claims for x years?
I know I've had to do just that on occasion.

Whenever I have changed insurers, they have just asked for the previous renewal notice, which usually states the years of NCD. I assumed from the OP that this wasn't on his renewal (as there was no NCD facility) and therefore a simple letter might have been best.

I am never sure why inscos do this, as all claims info is on a database that they keep telling us they share to prevent fraud. Why not just pull up the database and check for themselves? No risk of fraud, and probably quicker than opening and reading your letter with your proof of NCD and then filing it afterwards.

rs65

Richard53 wrote: »

I am never sure why inscos do this, as all claims info is on a database that they keep telling us they share to prevent fraud. Why not just pull up the database and check for themselves?

Because it only records claims and doesn't record whether or not you have had a policy or how many years NCD you have.

Richard53

rs65 wrote: »

Because it only records claims and doesn't record whether or not you have had a policy or how many years NCD you have.

Makes sense. Thanks.

bartelbe

Another example of ripoff Britain and ripoff insurance companies. You have to declare any claims you make on insurance when you apply for new insurance anyway. The fact that you have had insurance for years and no claims, shows you are a low risk. It really is time the broken insurance market was properly regulated