Insurance

Donovan · Post by **Donovan** » Tue Oct 11, 2011 9:14 am

Insurance is a bit of a nasty word around my place, but I guess I am going to have to start thinking about what I am going to get sorted out for the beast.

Strangely enough, when I was talking to my normal vehicle insurance company about, they didn't want to have a bar of it, so I guess I am going to have to go thru a broker or something to get it sorted.

So, for the guys out there with heavily modified cars, or race cars, what do you do about insurance for trailering/storage. Any recomendations, any pitfalls to watch out for.

WideOpenThrottle · Post by **WideOpenThrottle** » Tue Oct 11, 2011 10:28 am

Did mine under a classic car policy as it is not my daily driver,excludes under 25 year olds and i have a limit of 5000k per year which i am happy about but it must be garaged,have some form of security[alarm/immobiliser]. for under $350.00 i get full insurance for $10k value.
This was done through Towes Ins Brokers whom i have had several years with for my commercial policy as well.

Wont be covered for track/race days though!

Euen · Post by **Euen** » Tue Oct 11, 2011 11:05 am

There are a few places that will provide "classic" cover. I got mine for the TG through Classic Cover in Hamilton however the policy is actually with Vero. Mine is a policy for race and rally cars but still does not provide cover when competing.

Another broker that offers similar policies is Swan.

As WOT mentioned, most are limited to 5000Km per year however it is pretty easy to get extensions if the need arises.

Gravelben · Post by **Gravelben** » Tue Oct 11, 2011 7:16 pm

I'm with Classic Cover as well, 10k limited mileage around $400 PA - from memory 5k PA was going to be sub $350.

For comparison, NAC tried to quote me $1200 or something equally hilarious/ridiculous.

SLYDIT · Post by **SLYDIT** » Tue Oct 11, 2011 8:26 pm

i'm with AMI for my turbo'd car..i just went into the office and put IN WRITING all the mods and made dam sure they put the turbo on there....the bimbo behind the counter didnt even know what a turbo was... i told her to just write it on the policy regardless and give me a copy....

i think from memory its about $450 a year full cover excluding <25

Gravelben · Post by **Gravelben** » Wed Oct 12, 2011 7:47 pm

Good work! You can get very different results from AMI depending who you talk to.

sprsta · Post by **sprsta** » Wed Oct 12, 2011 9:45 pm

AMI also have their performance off-Shute, Quick
im with NAC just third party but they do give a low milage discount $200 or so per year
i think full cover was $2200 or something stupid

Angreal · Post by **Angreal** » Wed Oct 12, 2011 10:01 pm

I remember when I first got my car I rang up Tower/Fintel (one and the same) and got a quote for almost $2500/year... In the end I figured I'd be much happier paying 3rd party with AA and just NOT crash

The car is pretty stock and not exactly worth a lot...

Gravelben · Post by **Gravelben** » Wed Oct 12, 2011 11:11 pm

$2500? Either you're realllly young/hazardous/bad track record etc or that quote is just ridiculous.

My first MX5 which was pretty standard I was paying about $320PA full cover with AMI (at 23 with 6 years no-claims) with agreed value @ 4k.

And as I mentioned above the turbonuttermobile is around $400 with classic cover, agreed value @ 10k. Have to be over 25 with them though.

RMS · Post by **RMS** » Thu Oct 13, 2011 10:54 am

I'm on 3rd party only with AA insurance since adding the turbo.
Stupidly when I contacted them about the turbo I told them how much the setup had cost (~$2k) rather than what it was 'worth' which would be practically zero!

punkoutnz · Post by **punkoutnz** » Thu Oct 13, 2011 11:08 am

With NZI, 8 years no claims and no driving convictions, over 25 and full cover for $8000 covering the turbo and mods, I'm paying $720 a year.

Angreal · Post by **Angreal** » Thu Oct 13, 2011 4:29 pm

I was 21 and they didn't like the fact that the car was a "sports car". Never had a claim in my life before until I got myself a motorbike...

Needless to say I shifted over to AA who gave me a quote for full cover for $1200 but opted for 3rd party since I figured I'd end up paying the car off multiple times before I every wrote it off...

RMS · Post by **RMS** » Thu Oct 13, 2011 5:22 pm

I was surprised that when I spoke to the AA about the turbo, they weren't at all concerned about the car being more powerful etc.. their concern was the 'value' of the modifications compared to the basic value of the vehicle.

I'm not so worried about crashing it because that's in my hands, I just don't want it getting stolen.

Then again, that's where the MX5's 'hairdresser' reputation pays off

Angreal · Post by **Angreal** » Thu Oct 13, 2011 9:35 pm

RMS wrote:I'm not so worried about crashing it because that's in my hands, I just don't want it getting stolen.

Then again, that's where the MX5's 'hairdresser' reputation pays off

One of the factors that made me decide on an mx

My friend had 2 of his cars stolen in the period of a year... (S15 Spec R and Integra DC5 Type R). Mind you in saying that, my motorbike got stolen a year ago now. Next bike will never leave my sight!

Donovan · Post by **Donovan** » Mon Oct 17, 2011 12:27 pm

sprsta wrote:AMI also have their performance off-Shute, Quick

Spoke to the guys at Quick, but they never came back with pricing.

Have just got pricing from a Broker in New Plymouth, who I was put onto by someone from the Track day place that I deal with, and it worked out to be just a smidge over $400 for 10K travel, so seemed pretty good considering what is going into the wee besty.

He also said that this cover that he put forward to me, would cover me on touring between stages on the Targa, just not the special stages, so I thought that was a bonus as well.

Growler · Post by **Growler** » Tue Oct 18, 2011 12:35 pm

RMS wrote:Then again, that's where the MX5's 'hairdresser' reputation pays off

Don't be too sure...they are getting more and more popular in Australia with the car modding scene so it will only be a matter of time before it trickles down to us...

WideOpenThrottle · Post by **WideOpenThrottle** » Tue Oct 18, 2011 12:47 pm

Growler wrote:
RMS wrote:Then again, that's where the MX5's 'hairdresser' reputation pays off
Don't be too sure...they are getting more and more popular in Australia with the car modding scene so it will only be a matter of time before it trickles down to us...

Love to see them drive my car to Aussie!.....ha! ha!

Angreal · Post by **Angreal** » Tue Oct 18, 2011 1:26 pm

As long as they don't try using the Rena to get it to Aus... :p

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