Lotus Elan

Modified elan insurance

PostPost by: gav » Tue Jul 31, 2018 8:50 am

Hi all

Thought I’d change insurers for my modified elan (running twink but through Sierra box and diff, upgraded brakes, suspension etc.) I want an agreed value policy with full salvage.

Had an interesting response to date, Adrian Flux decided that I needed to take out the policy before they agreed the value - interesting.

Are there any insurers that are worth talking to? I have started a dialogue with Footman James which is promising but want to cover my bases.

Who do Zetec owners insure with?

Thanks
Gavin
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PostPost by: types26/36 » Tue Jul 31, 2018 10:55 am

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PostPost by: Spyder fan » Tue Jul 31, 2018 1:36 pm

RH Specialist Cars https://www.rhspecialistinsurance.co.uk ... -insurance

Agreed value and retention of salvage without deduction. = example.... agreed value £25k, if car damaged beyond economic repair you will be paid £25k and you will get the wreck of the car no charge. Other insurers will pay the agreed value but will charge at least 25% of the payout if you want the car back, some others such as Footman James will offer retention of salvage at an extra charge, but no others do it as standard afaik.

Costs are reasonable and competitive with lesser value policies.

Please read this topic http://www.lotuselan.net/forums/free-parking-f45/retention-salvage-classic-car-insurance-t32201.html

I have both my cars insured with RH, it costs me less than £250 a year for both cars £50k for my S4 and 35K for my +2 agreed value
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PostPost by: Grizzly » Tue Jul 31, 2018 3:31 pm

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PostPost by: MarkDa » Tue Jul 31, 2018 8:13 pm

RH Specialists offer of free salvage is good provided they don't declare the vehicle unrepairale in which having the bits and no log book doesn't help you put the car back on the road.
There's been a lot of talk on here about ensuring that after major damage the vehicle is returned to your garage so you can keep control.
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PostPost by: gav » Wed Aug 01, 2018 8:01 am

Thanks for all of the input so far.

Alan, I am in dialogue with RH but they need a valuation from an appropriate person so that we can agree the value.

Who is well placed to do such a thing?

Cheers
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PostPost by: MarkDa » Wed Aug 01, 2018 8:16 am

I'm with RH and they'll accept Club Lotus valuations.
I then used Paul Matty with the club form and some photos.
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PostPost by: Spyder fan » Wed Aug 01, 2018 12:35 pm

Here's the Club Lotus vehicle condition form which is personalised towards Peter James insurance (Club Lotus have a deal with them).
CLUBLOTUS_VCF.pdf
(139.17 KiB) Downloaded 65 times


The fee according to the latest magazine is £15 (not £10). Make sure you give lots of details of work done and give an indication of what you value the car at along with some good pictures (don't forget the SAE), these will be returned along with the valuation.
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PostPost by: Elanintheforest » Wed Aug 01, 2018 2:14 pm

I'm insured with Hagerty for my cars, and that includes the Plus 2 with Cosworth BDA engine. They understand classic cars properly unlike many of the other so called classic car brokers, and don't need a 3rd party to look at a few photos and pass judgement on your car. You nominate the value, and if it's within their view of being reasonable, they will quote you a premium.They do want a set of photographs!

More importantly, I have known 2 guys who have had to claim from Hagerty, and both were very pleased with how they were treated.

One had a Twincam Escort that caught fire, and they quickly agreed a quote to get the bodywork sorted, along with all the other parts needed that could be replaced by new components (new head, carburettors, wiring loom, etc.). However, there are some components on the Escort that cannot be bought new or as reproduction parts, such as the airbox assembly, and they are only available via ebay for an eye watering £2000 or so complete. Hagerty asked to have all such items listed and estimated (by the owner) and gave him a cheque for the parts so he could buy them as an when they became available.

They are very easy to deal with, and will insure your car for on-road use or for being off road in storage or under restoration.
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