Who do you insure your CSL with? - Page 4

Jimbo · 19-07-2013, 06:43 PM

I'm moving from Aviva (even though its cheap cos I'm staff) to classic line probably at just shy of £400 to get a guaranteed value + they will give free track day cover for car club organised events apparently.

Tried flux but they didn't class the CSL as a classic

, just peter best to try now to see what they can do.

Straightsix · 19-07-2013, 06:54 PM

Quote:

Originally Posted by Jimbo

I'm moving from Aviva (even though its cheap cos I'm staff) to classic line probably at just shy of £400 to get a guaranteed value + they will give free track day cover for car club organised events apparently.

Tried flux but they didn't class the CSL as a classic

, just peter best to try now to see what they can do.

I am a bit careful with some of these smaller insurance companies as they may not pay out in the unfortunate event of a claim. Where as maybe a big company like AVIVA may.

Are you an actuary :-) ?

Jimbo · 19-07-2013, 08:01 PM

Don't work near the motor business unfortunately!

I've never had to claim (touch wood) and never had to deal with a smaller insurer, but I'll bear it in mind.

My worry with a market value insurer is that should cesil meet her end, not only would I be distressed, the market value payout would be round the £15k mark per Parkers or equivalent valuation service.

Unless anyones had the unfortunate experience and I'm wrong about the larger insurers.

spoonz · 21-07-2013, 11:17 AM

Quote:

Originally Posted by Jimbo

Don't work near the motor business unfortunately!

I've never had to claim (touch wood) and never had to deal with a smaller insurer, but I'll bear it in mind.

My worry with a market value insurer is that should cesil meet her end, not only would I be distressed, the market value payout would be round the £15k mark per Parkers or equivalent valuation service.

Unless anyones had the unfortunate experience and I'm wrong about the larger insurers.

I have same concerns, looking for an insurer who will do guaranteed value.

PS I'll keep an eye for you, from my neck of the woods!

pinkpanther008 · 22-07-2013, 10:46 AM

Chaps,

I also had concerns with agreed value insurance (which i finally went with).

If its an agreed value i know the 15K 'Parkers market value principle' wont come into effect if i was ever unfortuante enough to have a claim.

....buuuut as CSL values appear to be in good health and rising, would i be able to replace my car at the agreed value @6monthes down the line if CSL replacement cost had risen in value significantly over that period?

I guess its a chicken and egg scenario!

PP

Neil M · 22-07-2013, 12:41 PM

Quote:

Originally Posted by pinkpanther008

Chaps,

I also had concerns with agreed value insurance (which i finally went with).

If its an agreed value i know the 15K 'Parkers market value principle' wont come into effect if i was ever unfortuante enough to have a claim.

....buuuut as CSL values appear to be in good health and rising, would i be able to replace my car at the agreed value @6monthes down the line if CSL replacement cost had risen in value significantly over that period?

I guess its a chicken and egg scenario!

PP

I'm curious as to who can establish an agreed value in a rising market.
There is approx a £5K gap in price comparison between NJ and Hexagon,
if you/they use a trade guide you'll be miles out.

However what may be an acceptable figure today, won't buy you a replacement CSL in 6/12 months time.

PS: A Classic Car policy is usually applicable to a car when it's 10 years or older, check your birthdays.

steveH · 23-07-2013, 01:17 AM

Its a minefield but there is hope!!

Most classic car policy providers will consider cars from 10 years (possibly 5 years) old for agreed values, usually associated with limited mileage
With regards the actual valuation the some reputable dealers / Indy's may offer this service but so does BMW Car Club too (01225 709 009)
It is difficult to judge from photos / owners description the value and more so when the model (ala CSL) is rising.
Most valuers will use web based sites like this to gauge the asking prices along with P/H's & traders etc.
Ultimately it is the owners who need to be honest in their descriptions, any failure may result in the value being void (if considered fraudulent value or mis representing the actual vehicle etc). Having the comfort of an agreed value is IMO worth doing each renewal.
Finally bear in mind insurers work on current Market Values so do your homework to provide evidence of values at the time.

Pip1968 · 23-07-2013, 09:43 AM

An additional point to bear in mind is that valuation on write off is based on private selling prices and not trade.

Pip

s.mac · 24-07-2013, 09:18 PM

I went with classic line with an agreed valuation. I just need to get the valuation from BMW or a another.
£330 per year and they will hold your no claims. I explained all the cars I use for daily are in my fleet but I didn't want to lose my personnel no claims.

They were happy with a valuation from CSL register if it was on a letter head.... Mark ??

Straightsix · 26-07-2013, 01:22 PM

I had car insurance with AVIVA for the M3 CS.
Renewal premium was quite high.
Cancelled the old policy.
Taken out a new policy with a few extra items of cover as you never know.
I saved about £1000. Well happy with that. Also saved about £20 per month on BMW Insured Warranty (Comprehensive) :-)

Also I had to remember to cancel cover otherwise they may automatically renew and tell the advisor.

22-07-2013, 10:46 AM	#35
pinkpanther008 S5 - Full Throttle Join Date: Dec 2008 Location: Essex England Posts: 359 Casino cash: $5033	Insurance Mafia Chaps, I also had concerns with agreed value insurance (which i finally went with). If its an agreed value i know the 15K 'Parkers market value principle' wont come into effect if i was ever unfortuante enough to have a claim. ....buuuut as CSL values appear to be in good health and rising, would i be able to replace my car at the agreed value @6monthes down the line if CSL replacement cost had risen in value significantly over that period? I guess its a chicken and egg scenario! PP __________________ purple haze...

23-07-2013, 01:17 AM	#37
steveH S4 - Getting the hang of it Join Date: Jul 2010 Posts: 126 Casino cash: $1340	agreed value insurance Its a minefield but there is hope!! Most classic car policy providers will consider cars from 10 years (possibly 5 years) old for agreed values, usually associated with limited mileage With regards the actual valuation the some reputable dealers / Indy's may offer this service but so does BMW Car Club too (01225 709 009) It is difficult to judge from photos / owners description the value and more so when the model (ala CSL) is rising. Most valuers will use web based sites like this to gauge the asking prices along with P/H's & traders etc. Ultimately it is the owners who need to be honest in their descriptions, any failure may result in the value being void (if considered fraudulent value or mis representing the actual vehicle etc). Having the comfort of an agreed value is IMO worth doing each renewal. Finally bear in mind insurers work on current Market Values so do your homework to provide evidence of values at the time.

19-07-2013, 06:43 PM	#31
Jimbo S2 - Picking it up Join Date: Jan 2012 Location: South Yorkshire Posts: 55 Casino cash: $3348	I'm moving from Aviva (even though its cheap cos I'm staff) to classic line probably at just shy of £400 to get a guaranteed value + they will give free track day cover for car club organised events apparently. Tried flux but they didn't class the CSL as a classic , just peter best to try now to see what they can do.

19-07-2013, 08:01 PM	#33
Jimbo S2 - Picking it up Join Date: Jan 2012 Location: South Yorkshire Posts: 55 Casino cash: $3348	Don't work near the motor business unfortunately! I've never had to claim (touch wood) and never had to deal with a smaller insurer, but I'll bear it in mind. My worry with a market value insurer is that should cesil meet her end, not only would I be distressed, the market value payout would be round the £15k mark per Parkers or equivalent valuation service. Unless anyones had the unfortunate experience and I'm wrong about the larger insurers.

23-07-2013, 09:43 AM	#38
Pip1968 S5, Sport Off, DSC M-track Join Date: Dec 2007 Location: Kent, England Posts: 940 Casino cash: $8383	An additional point to bear in mind is that valuation on write off is based on private selling prices and not trade. Pip

24-07-2013, 09:18 PM	#39
s.mac CSL Register Uber-poster! Join Date: Jun 2008 Posts: 4,247 Casino cash: $15600	I went with classic line with an agreed valuation. I just need to get the valuation from BMW or a another. £330 per year and they will hold your no claims. I explained all the cars I use for daily are in my fleet but I didn't want to lose my personnel no claims. They were happy with a valuation from CSL register if it was on a letter head.... Mark ??

26-07-2013, 01:22 PM	#40
Straightsix S5 - Full Throttle Join Date: Sep 2011 Posts: 357 Casino cash: $1823	I had car insurance with AVIVA for the M3 CS. Renewal premium was quite high. Cancelled the old policy. Taken out a new policy with a few extra items of cover as you never know. I saved about £1000. Well happy with that. Also saved about £20 per month on BMW Insured Warranty (Comprehensive) :-) Also I had to remember to cancel cover otherwise they may automatically renew and tell the advisor.