AIB Lotus Insurance - Up to 20% discount available

[Guest modifiedv8engines]

Neil ... my findings exactly as I needed to list the vehicles twice before the penny dropped on what I wanted. Saying that the penny still hasnt hit the floor yet as I have still to hear from AIB

 

Looking for under 3000mls Classic policy as my current trade policy, at renewal, wants another £350 for uping the indemnity due to the Esprits increasing market value.

[snoboardr]

Car insurers take motorcycle accidents into account when quoting for car policies, and indeed speeding tickets from motorcycling, yet they always refuse to accept the NCB from a bike policy as any evidence that the car policy should be reduced. No surprise, they want the maximum profit and the minimum risk.

Just got renewal quote from Darren at AIB - thankfully down from £1475ish for 12,000 miles on my 2013 Evora S to just under a grand. I had zero eligible NCB when I started last year - having previously owned only pick-up trucks and (supersports) motorbikes.

Still seems steep but is now unlimited mileage (woot!) and a guaranteed write-off value. Hopefully of course I'll never need it!

[Guest modifiedv8engines]

Pete

 

I have had a trade policy for 15 years and 5 years with my current insurance "provider"

 

All 4 cars which are in my name are on the MIT schedule (Mandatory since 2010 meaning every permanently owned vehicle is registered to that policy or trader) so NCB has been earnt on those but seems not allowable. Upshot is Im being penalised for having a Trade Policy although I dont Trade cars but run a business which just so happens to be in the Motor trade.

 

Since the insurance companies have all this info on their database, they also know ( ??? probably dont) I have owned my TVR and Discovery for 10 years and that there has never been a claim. DVLA can confirm that these cars have always been insured, MOTed, Taxed and cover very small miles per year. 

 

Before having a trade policy I had 2 private policies which I surrendered to use my 60 odd % worth of NCB. However if you decide to use your trade NCB and go back to private policies they wont have it ........Think they call this a one way deal and if you dont like it then thats just tough

 

 

Didnt get to speak with Darren ...

[Guest modifiedv8engines]

Jason ... Think they should give ex bikers a discount just for surviving on todays roads...

 

Would dearly like to know how they work out their premiums as they seem to defy logic.

 

Of the quotes or quotes I got for my first named car ( Old Disco) it appears its cheaper, not by much, if there is a second driver on the policy. And as I keep bleating on Im am offered insurance at an increased premium as NCB is not allowed but I have 25 years NCB in effect

 

This cant be right can it ?? 

[Barrykearley]

On a classic policy the esprit should be super cheap.

And yes insurance is a knightmare - I got stung moving from fleet commercial a couple of years ago - luckily I did manage to get my no claims reinstated from that imsurance company

[eeyoreish]

I just paid £150 for fully comp, 3000 miles pa, including commuting, garaged at home. I'm 45 with clean driving history and no NCB to use on this vehicle because that's built/used on my main car...

Like Barry said, should be cheap as chips as a classic, limited mileage policy.

[pete]

http://www.unicominsurance.com/insurance-news/can-i-use-my-motor-trade-no-claims-bonus/

[Guest modifiedv8engines]

Cheers Pete and Neil etc

 

Have another go tommorow .....ding ding Round 2

[Guest modifiedv8engines]

Always willing to post my findings good or bad so here we go

 

Had a call today from Nigel today from AIB Insurance. Nigel apologised for the delay in responding and explained the reasons. Not his fault but work load which I can cope with, and understand

 

Pleasant and knowledgeabe guy who gave a competitive quote and clearly has a good understanding of whats required when dealing with classic Lotus and TVR vehicles etc.......and their owners. Policies are reasonably flexible and they are not fussed if there have been minor updates and mods.

 

Agreed value too (subject to underwritters etc etc) which is a releif given the cars steadily increasing value

 

Refreshing talking to someone who knows one end of a car from the other and being a broker,  worked out whats best for you rather than what a flow chart or whatever says. Trade NCB can also be transferred -

 

Definately short list this company as a possible insurance provider and can recommend them despite a slightly shaky start.  

 

Churchill and Aviva = Quoted me miserable so cant say I would bother calling them again for anything slightly more complicated than mainstream car insurance

[Bibs]

[PilotSteve]

all i can say ,i had a great experience dealing them ,i was worried having been named driver for years on my dads policy (he died )expected the worst (af)but great friendly service ,couldnt recommend them enough!i believe i had the pleasure of dealing with murray who i think deserves a mention (normally daren     

[eeyoreish]

I got the best price from them but they've been a bit tardy in getting back to me regarding the agreed value.

Chased up today so hopefully I'll have it soon.

[march]

Hi, I have just tried AIB insurance and was disappointed by the quote.

 

Classic Line were quite a bit cheaper (renewal quote and it had gone up from last time) and they were not offering the freebies mentioned here so it appears it is still worth shopping around.

[Trevsked]

Yes found the same when I tried them.

 

Trevor.

[internets]

AIB were £200 more with 2k less miles on my Evora S than I paid with Classic Line at my last renewal.

[Bravo73]

AIB were £200 more with 2k less miles on my Evora S than I paid with Classic Line at my last renewal.

Do Classic Line offer trackday insurance with their policies?

[internets]

Do Classic Line offer trackday insurance with their policies?

 

I believe so, I need to confirm on my policy but I know Trevsked has up to 6 UK track day's cover on his Exige with Classic line. European track days you have to pay a 'top up'

[hedgerley]

Nice surprise from my broker today for my renewal due shortly. They've done all the legwork and found a pretty good deal. Not only is it cheaper than last year but the excesses quoted and the other terms are much better than previous. £244 fully comp including Class 1 Business use. I guess I could find it a bit cheaper elsewhere but the small print, exclusions, low excess etc are important and the broker relationship is sound, with excellent customer service (A Plan - other brokers are available etc etc) so I'll be going with them again.

[MPx]

I really don't understand the insurance industry.    AIB have done a great job of adding to my confusion - but on the plus side I have insured the Esprit with them because they came up with the best deal.  We're not talking about much money - but then I'm old and live in the middle of nowhere so there's not so much risk either.   I always do a compare online each year and then decide whether to renew or switch.   As a result I loose track of who I'm with for which car in any one year. 

 

The AIB saga started at the Brands festival - I gave phone number to the AIB guy in their Gazebo.  I got a call a few days later and after giving the necessary details was quoted £127.  I knew that was more than I paid last year...but wasn't sure if premiums were up generally this year so just said I'd bear it in mind.  As I used to have all the cars on a home-fleet policy they are all due on the same day in September.  To my surprise when the renewal came through, it was from AIB...and the renewal premium was £97.  Seemed silly at first, but then I remembered that they were not aware of a minor non-fault accident I had in one of the other cars in June - so I guessed that when that was factored in, the premium would rise to the festival quote.  I checked with the meerkats online and got a good quote from Performance Direct and SuretermDirect.  Then I called AIB to tell them about the accident.  After telling them, the guy said my renewal premium would go up £10 as a result (to £107) - so where did the £127 quote following Brands come from?  Then I said I could do better via the meerkats...and within seconds, I was offered a renewal at £90.   Fantastic - I signed up straight away.   So there we are.  I'm sure there is more to it than I understand, but insurance premiums in my experience seem to result from random number generators.  And the ease and speed with which the premiums can change suggests it has little to do with the costs of claims and overheads, just a stab in the dark about how much a punter may be willing to pay.

[snoboardr]

My company used to work with Swinton (the low end brokers) and AXA Direct. I had visibility of the algorithms insurers used - very interesting!

In the end I rarely go with the lowest quote. Great comparing the meerkat but doing so on price alone is stupid; come the time you need to claim, your Ryanairesque bargain basement quotes may be more of a headache than they're worth. Of course, if you have no need to claim then well done.

[MPx]

My experience of claims on insurance have been uniformly dreadful regardless of premium paid or company reputation in the market place Jason.  The worst was my very expensive house buildings/contents cover through Hiscox on which they refused a subsidence claim which cost me £60k.  Three different burglaries at three different properties with three different insurance cos all resulted in the various loss adjusters making us feel like we were the criminals making fraudulent claims and each paid out on new for old basis at far less than we lost.  On the cars, my only recent claim was back in June which went through OKish from the cheapest policy I could find last year.  I say OKish because it was a no fault accident without witnesses so was settled on a 50/50 basis which was more than a little annoying but understandable given that the other guy simply lied about what happened.  Since experience has taught me not to expect a proper pay-out anyway, I see absolutely no sense in paying for "peace of mind" which is clearly a con.

[Barrykearley]

It's the closest thing to legalised extortion......
 

[eeyoreish]

It's the closest thing to legalised extortion......It's the closest thing to legalised extortion......It's the closest thing to legalised extortion......

No need to rant Barry

[Barrykearley]

It's my fat fingers - dunno why it ranted like that!!

[C8RKH]

No need to rant Barry

Why not. He's right you know!