480 as part of multicar insurance?

[timrosser]

HI there,

Do any of you run your 480 as your fun or spare car? My insurer wont count my no claims against a 2nd car so I'm a bit stuck on whats best to do- get a multi car policy which dont seem too cheap, or get a new policy and build up a new n/c which would be the best bet longer term.

Any ideas?

Best

Tim

[jamescarruthers]

Try getting it on stand alone Classic Car insurance. I pay peanuts to Footman James, but Lancaster and Carole Nash do it too, and many more I'm sure.

Note, you don't accrue any no-claims-bonus with Classic insurance, but it doesn't really matter as it starts off cheap. It only affected me when I bought my first ever modern car last year and had zero NCB to play with. You sound like you'll be okay with that as you are building NCB on your other car.

[dcwalker]

I have mine on classic car insurance as well - as James says there's no NCB and the terms are limited (as to use, mileage etc) but it is cheap and I have a decent agreed value for the car.

Leaving aside the 480, we have two cars in the household, one insured in my name and one in my wife's, so we both have our NCBs on those. I looked into multi-car but the way we do it worked out better overall, and avoided leaving the 480 as being worth peanuts (probably) at market value should the worse happen to it.

David

[jifflemon]

Yet another vote for classic - The turbo cost me £150! I honestly didn't even bother to try and compare prices!

[Alan 480]

another vote for Classic policy. approx £120 for the SS1, 1500miles per year , garaged, agreed value (less than £10k no need for engineers/ third party inspection etc)

although the company I'm with for the other cars won't let me put the 480 onto classic as the wife's job is a a relief for the education dept they won't accept that as 'normal commuting'

[dragonflyjewels]

Yep, ours are all on classic as well. Who'd be happy with tuppence for a write off value ? Ours were all around £150, all with 5000 miles per year and not required to be in a locked garage (just as well, we have 4 480s and only 2 garages) The turbos are agreed at 3k each, 2.5 for the GT (high mileage and more work needed on it) 2k for the ES. Did ours through Carole Nash.

[frenchfries]

I got it wrong with Skip. I think it is on multiple car cover but market value. I am gonna get screwed, need to look into this asap.

[eye of ra]

Another vote for classic insurance.

£140 for 5000 miles and kept on the driveway, didn’t have agreed value thought.

Will be doing agreed value once restoration is complete and back on the road.

....or get a new policy and build up a new n/c which would be the best bet longer term.

Not sure you can do this, but could be wrong.

[dragonflyjewels]

For classic insurance you have to have another car on ordinary insurance for everday use, so that one accumulates the NCB.

[dcwalker]

I got it wrong with Skip. I think it is on multiple car cover but market value. I am gonna get screwed, need to look into this asap.

Yep - as long as you've got another car as a daily use car, then I'd down this route asap. Mine is about £130 and kept on the driveway.

Looking at figures being mentioned here and seeing what some 480s are being put up for sale at these days (whether they fetch the money is, of course, another matter) I need to increase my agreed value on renewal methinks; it is currently at £2,500...

David

[dragonflyjewels]

Yep, £2.5 surely isn't enough for yours David. Be worth seeing what the ebay one eventually goes for.

[frenchfries]

Right

Moved over to Lancaster Insurance for Skip, the agreed valuation is £3,500. Better than "market value" with Churchill