It's a truism that you only know how good an insurance policy is when you have to make a claim. Then two key features become important - the quality of the support and service from the broker and insurer and then the sufficiency of the payout under the policy. Fortunately most V8 enthusiasts rarely have to make claims so direct experience of these qualitative features of their classic car policy is usually very limited.
As part of our product review of classic car insurance cover for V8s, we have sought feedback from V8 members who have experience of a claim. To encourage feedback, all the responses reported here will have no mention of the member's name.
| Product
reviews A new feature for the V8 website is a series of reviews of products or services of interest to V8 enthusiasts. For a review of insurance for MGV8s, two V8 members volunteered to assist by obtaining comparative quotes from six of the leading classic car insurance brokers. Comparative quotes review |
| Footman
James were thoroughly impressive A V8 member, who prefers not diclose his identity, has provided a report on his claims experience with Footman James and other insurers. (18.10.08) It's when you have a claim that the true value of insurance becomes clear, and I am really very glad that I landed on my feet, as it were. I must say that Footman James were thoroughly impressive in dealing with my claim earlier this year, and there is now only the issue of some storage and recovery charges outstanding. That is as much down to a delay in my receiving the invoice to forward to them as anything else.Also when it became clear some months after the main claim that certain storage charges remained outstanding, the charges were dealt with swiftly and without fuss. Not only good claims service, but after taking a £9,000 hit, they have come back with a renewal premium for this year of £232, which, unless I were able to get it for about half that, I will probably accept, as having an understanding and decent insurer to deal with made the whole claims process far less stressful than it might otherwise have been. Dealing with a marque-specialist insurer makes a huge difference In 1990 or thereabouts I was with Norwich Union and was rear-end shunted whilst stationary at traffic lights. Obviously there was no problem over the claim as such except for the fact that they specified that the car had to be taken to one of their "approved" bodywork repairers. This firm's performance was not good: (a) Repairer did not have the car ready at the time they had forecast so we had to make a return trip. (b) Repairer fitted the new rear valance without removing the standard black storage travelling paint and did not apply any form of underseal or protection. This meant that a new valance had to be fitted (at my cost) when its dreadful condition was discovered in 1997 during further repairs. I cannot remember if the policy excess was refunded. The lesson from this is that it is essential to have a proper Classic Car policy which recognises the need for repairs by specialists in the particular model. On another occasion in 1997 I was driving through the Glynn Valley in Cornwall at low speed having just come through roadworks and was approaching a crossroads when someone chose to drive out in front of me to cross the road. A collision was inevitable and my car required recovery. The insurer this time was Lancaster who arranged for the car to be taken to Tim Kelly, the best MG specialist in Cornwall, who inspected my car there within days and immediately agreed the repairs (new front wings, valance, bumper, all lights, bonnet etc). The broker also obtained the refund of my £100 policy excess,and also, as I had additional cover, I received some compensation for injury. So, dealing with a marque-specialist insurer makes a huge difference. |
| Good
claims experience with Peter Best Insurance Stuart Brown posted a report on the V8BB of his experience of his claims experience with Peter Best Insurance. (20.11.08) As may be gathered from my request for RV8 parts posted on the V8BB towards the end of the summer, I have recently needed to claim on my classic car insurance. I am insured through Peter Best Insurance Services on their Abingdon policy with an agreed value. My accident was the evening before I was going abroad on holiday and therefore all I could do was to use the breakdown policy included as part of policy to get me home and then make a quick call into Peter Best the following morning almost en route to the airport! Very good help from Peter Best Insurance Services, efficient claims handling and claims progressing. My experience may not be typical as my claim was a no fault accident, the other party admitted liability, so it was probably easier to sort out from the insurance company's point of view. I wanted the repair to be done by a reputable repairer and not "Joe Bloggs bodyshop" and so I used a specialist recommended by Fred Jenns who sold me the car a couple of years ago. No problem with this, even though he is a one man band working from a small garage. Both my insurance company and the other party's insurer sent an assessor and agreed the cost of the repair to put the car back to the original condition, with as far as I know little trouble. They dealt with the repairer directly, and apart from a claims form and a few phone calls to find out progress, I had nothing to do. I have the car back now and it is as good as new. The only thing outstanding is the recovery of my £100 excess which is being handled by the uninsured loss insurers. Therefore I have had a very good experience and would recommend Peter Best Insurance Services and their Abingdon policy for our precious bits of tin. |
Further reports of members' claims experience will follow as they come in.
Posted: 7.12.2008
V8
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