Hi all,
New around here and have yet to create an introduction thread - hopefully you can forgive me so I can share my recent experience regarding insurance. Briefly, I'm Sam (Samantha) - Driftits much shorter other half / motorsport mad midgit. Have met a few of you at various events over the last few years. Anyway back to insurance!!
The vehicle I wanted quoted is quite different to the E60 I drive daily but I would assume cover options would be relatively standard.
Classic Cover Insurance (www.classiccover.co.nz) ....Not Just Classic Cover
Full Comprehensive Cover, Glass Extension without any excess, Annual Milage Restrictions, Trailer cover (up to $5k), Spare Parts Cover (up to $5k), Repairer selection, first rights to salvage and an extremely polite email conversation with Karen McGregor karen.mcgregor@classiccover.co.nz (Client Support). For a vehicle with a sum insured of $12k the annual premium would be $580 inc GST. This is far more reasonable than what I am currently paying.
Karen also provided me with a list of valuers for Classic and Unique Cars. For heavily modified, Mark Joblin seems to be their recommendation: ccltd@hotmail.com
Classic Cover strongly suggest acquiring an independant valuation to ensure the agreed value is realistic. For vehicles 1989 and newer the policy is an agreed value unless it is found to be more than 20% above market value (in which case they will pay market value). For vehicles up to 1989 the policy is also agreed value however they will only pay the value shown under your 'sum insured'.
Annual Mileage restrictions of 5000kms/3000miles p/a unless otherwise agreed. They say additional milage can easily be added but I did not ask the question if it could be lowered to say 2500kms p/a.
So far I am really impressed with the communication and will likely be changing to Classic Cover after I have arranged a valuation. The whole 'quote' experience has been great!
If anyone is interested in the list of valuers let me know and I'll post it up
