Joined: 14 Aug 2006
|Posted: Fri Nov 14, 2014 4:56 pm Post subject: Which Insurance company offers the best classic car premiums
|I am undertaking an exercise to identify which insurance company offers the cheapest policies for comprehensive insurance on classic cars.
This exercise may take a while so I will post the quotes from the various classic car insurers as I get them.
I am gettng quotes for a mix of classic cars from the 50's, 60's 70's and a couple of what I term modern classics from 1992 and 2003.
The vehicles are:
1952 Morris Sedan
1965 Ford Anglia 2 door
1976 Rover 3500 V8 sedan
1992 BMW 850i V12 coupe
2003 MG ZT Sedan
The basis of the quotations for the premiums is:
1. Full comprehensive insurance;
2. Driver aged over 50 and listed female driver also over 50 years of age
3. A driving record for the driver that shows a single recent traffic
4. no policy claims or accidents in the past 2 years but a minor policy claim 3 years ago
5. A maximum no-claim bonus for the insured driver
6. Cars housed in garage or driveway in NSW
First call was to Shannons who arguably have the highest profile with the classic car community.
Their insurance premiums were:
- 1952 Morris Sedan @ $166.64
- 1965 Ford Anglia 2 door @ $317.92
- 1976 Rover 3500 V8 sedan @ $387.07
- 1992 BMW 850i V12 coupe @ $704.68
- 2003 MG ZT Sedan @ $818.90
The excess with Shannons was $500.
Called Ryno late Friday afternoon but quotes only available during business hours so will call next week.
YOUI representative said they only insure vehicles manufactured after 1980 but did provide me with a quote for the BMW 850i (at an agreed value which was $4000 less than Shannons........they would not raise the value to what I wanted).......and the premium based on a $729 excess was $1,692.80...............at that rate more than double from Shannons I did not get a quote for the MG ZT sedan.
I will get more quotes from other insurance companies next week.
Wednesday: Received a quote from Lumley Special Vehicles today:
Their insurance premiums were competitive overall...i.e. some cars lower and some were higher:
- 1952 Morris Sedan @ $289.47
- 1965 Ford Anglia 2 door @ $415.14
- 1976 Rover 3500 V8 sedan @ $364.83
- 1992 BMW 850i V12 coupe @ $582.49
- 2003 MG ZT Sedan @ $686.19
The excess with Lumley Insurance was $550 on the modern cars and $250 on the older ones.
I called Ryno Insurance yesterday (Tuesday) and gave them the details on each car
They could not give me an immediate quote and will call me back.
Ryno Insurance did call me back this afternoon Wednesday without me needing to chase them for the quote and their premiums were also competitive with Shannons and Lumley as per:
- 1952 Morris Sedan @ $180.25
- 1965 Ford Anglia 2 door @ $314.89
- 1976 Rover 3500 V8 sedan @ $301.24
- 1992 BMW 850i V12 coupe @ $869.22
- 2003 MG ZT Sedan @ $769.18
I called NRMA Veteran Vintage & Classic Vehicle Insurance this morning and received a quote which proved to be very competitive on a couple of the cars:
- 1952 Morris Sedan @ $89.00
- 1965 Ford Anglia 2 door @ $468.70
- 1976 Rover 3500 V8 sedan @ $494.05.83
- 1992 BMW 850i V12 coupe @ $584.70
- 2003 MG ZT Sedan @ $896.82
Will see if I can obtain some more quotes from insurers offering classic car insurance.
JEff - Editor
Joined: 22 May 2019
|Posted: Wed May 22, 2019 9:57 am Post subject:
|Thanks Jeff, very useful comparison. I will be at a stage to need insurance after a full resto/rebuild of a '62 Morris Sedan later this year, so finding this info was timely!