Buying Specialist Car Insurance For Your Classic Motor
Do you require Specialist Car Insurance?
Surprisingly a large number of vehicles fall into categories that the majority of mainstream car insurance companies do not want to cover!
Such examples that may struggle to obtain motor insurance at reasonable rates are owners of performance,prestige, expensive, luxury, foreign, sports, convertibles, modified, veteran, collectors and classic cars.
Most Car Insurance companies that offer quotes on standard comparison websites, have very strict underwriting criteria that the risk, that is you and your car, must fit into to be offered a quote from the online computer system. This is the case for nearly half of the UK population visiting a major motor insurance comparison website.
What those who purport to compare the market often fail to tell you when you start to apply for cover, is that if you do not fit into the type of risk that they are looking for, determined by the answers that you give when you fill out the application or proposal form, that you will have been wasting your time!
Many more customers that the mainstream car insurance comparison sites fail to satisfy, then take up first quote they are offered from another source, even if it is very expensive, because they fear they will not get cover elsewhere.
More importantly if you are the owner, if something happens and you need to make a claim on your policy, it is important that your car gets fixed by specialist professionals, using the correct parts.
All specialist car insurers and many insurance companies will offer a choice of repairer – many others will not as they have existing arrangements with so called approved repairers.
Trouble arises when an insurance company employs its approved repairers to work on the vehicle against the owners wishes.
Clearly then it is very important to understand what you are buying with your policy when it comes to claims and repairs.
The risk price you pay for your car at a comparison site, is largely determined by the risk group assigned to the particular make and model of the vehicle.
if you have made any changes or modifications to a standard car, will change its risk group and may result in you not being able to obtain an online quote.
Age of a vehicle whether it be a a specialist modified car car or a brand new off the forecourt car will seriously affect the rating premium and you could be refused a quote.
The large proportion of people fit into the standard rating process, however, people are not.
Unusual of non standard lifestyle are the main reasons drivers fail to get quoted from a standard car insurer.
Theft rates for the area you live in may also result in a decline to quote.
Many specialist car insurance brokers have individually designed specialist car insurance schemes to cater for all those nuances that the comparison sites decline to quotes for.
Times have changed and due to the economic crisis and a change in the attitude of a generation, sports cars and classic cars are all the rage with the baby boomers, who can now be seen driving around town in cars they once pushed around as dinky or matchbox toys when they were little boys and girls.
Those big kids who would once maybe invest in shares on the stock exchange are now putting their investments into tangible property, and classic cars and performance motors have become the investment collectors portfolio of choice.
These bespoke policy types are known as classic car insurance schemes and are often initially drawn up by an underwriter, in request to a large pool of insurance presented by a classic car club or society. Each manufacturer will have multiple members clubs and there may be many schemes for a particular car model.
All specialist car insurance schemes also provide cover for high performance, prestige, classic or sports cars in particular, and you could certainly save money by taking out a policy from a scheme associated with your car, rather than standard motor insurance from a insurance comparison supermarket.
Wholesale large insurance companies argue that handling claims and arranging specialist parts for replacement and repairs, tend to be much more difficult to arrange and expensive and the result is higher premiums. Many mainstream car comparison insurers do not want to cover you period, so they will try to exclude you and dissuade you by offering highly weighted premium quotes and expensive cover.
Additionally specialist car insurance schemes more frequently than not offer exclusive discounts not found at the car insurance comparison websites.
Many drivers continue to pay over the odds for their car insurance, knowing they are non-standard risks, grateful to have found somewhere that can cover their specialist needs.
Compare specialist car insurance quotes and cheap classic car insurance quotes online or call 0800 089 0182 to discuss your insurance needs with a specialist car insurance broker!
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