As I own two Triple-M cars in addition to TC0750 I occasionally read the Triple-M Bulletin when I remember to download it from the Triple-M website. One comment which I took careful note of was the following from the April, 2011 editorial of the then Editor, Phil Bayne-Powell:
In the current climate of escalating insurance premiums it is even more important to shop around. Footman James had the audacity to try and charge me 50% more, when I advised them that I wanted to reduce the number of cars insured from four to two – i.e. a 50% reduction in car numbers. I shopped around and got a quote at 43% less from Hagerty (0844 8241134), who seem to be run by classic car enthusiasts.
When I received my insurance renewal from Footman James (FJ) for the PB this year I noted that it had increased from £181.10 to £216.08, an increase of just over 19%. Recalling Phil’s comments in his editorial, I decided to shop around. Peter Best Insurance (PBIS) quoted £226.62 – the quote being based on me stating that the car is above average condition and being a member of the Octagon Car Club. When I asked if the quote would be lower if I joined the MGCC I was told that it would make no difference as the rate quoted was the rate for members of car clubs.
I then tried RH Classic Car Insurance (01277 206911) who quoted me £169.50. As the quotes were getting better I tried Hagerty (01327 810600) and Heritage (0845 330 0660). Hagerty quoted £136.48 and Heritage £132.90.
I decided to go with Hagerty because I like their set up and I valued their customer interface. Having said this, Oliver Saunt, who dealt with my quotation from Heritage was very good.
When I received my renewal from FJ it was based on my valuation of £18,500. This was what I paid for the car 13 years ago so I decided to go back and ask for agreed valuation of £30,000. They came back with a revised premium of £288.16.
As with all insurance quotations it is important to read the small print. All the quotations from the companies mentioned above were on the basis of an agreed valuation of £30,000, only me driving and being a member of the Octagon Car Club. The only exception to this was that I have always kept my 33 year old son on the policy with Footman James and the FJ quote was on this basis. However, he does not feel comfortable driving the car so there is no point in including him in the policy. I doubt if removing him from the policy would have significantly lowered FJ’s quote.
On the basis of my experience this time around, I doubt if I will seek quotes from FJ and PBIS again.