Lotus Elan

Insurance

PostPost by: davidj » Sun May 03, 2009 7:42 pm

Hi,

Can anyone recommend an elan friendly insurance company in the uk?
Thanks,

David
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PostPost by: Jason1 » Sun May 03, 2009 7:46 pm

Hi

Really you never know how good they are until you have to make a claim, they are all great when you are handing over the folding.
What you really need is a recommendation from someone who has made a claim.

Jason
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PostPost by: adigra » Sun May 03, 2009 7:58 pm

I fully agree with Jason, but I have had really good experience with RH Specialist Insurance Division who insure both my modern and will insure my S3 Elan once it's on the road. In both cases they were willing to tailor the policy to my needs (being a newish resident of the UK many companies didn't even want to talk to me about anything faster than a Ka) and are hard to beat on price. The quote I got for the Elan was pretty remarkable for full comp., road assistance, legal cover, etc., along with unlimited mileage, and non-competitive rally usage. They might not be what you're looking for but it's worth giving them a call and getting a quote.
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PostPost by: Schrodinger » Sun May 03, 2009 8:30 pm

Hi David,
have a couple of cars insured with AON. They understand classics/non-standard/modified without any trouble but I have not had cause to claim (thankfully!). The Elan is on agreed value and unlimited mileage (!) and trackday cover is also included. I've shopped around each year but so far have always renewed with them.
Cheers
Jennifer
'68 S4 Elan SE DHC ~ S1 Elise 111S
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PostPost by: batfish » Mon May 04, 2009 12:30 pm

I would not touch RH, I had my Elan and my road car insured with them, the keys for my road car were taken from my house , the car stolen ,the the insurance company refused to pay up or even reply to my letters. Luckily the car was found 20 miles away undamaged
regards

Andy
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PostPost by: elansprint » Mon May 04, 2009 5:12 pm

I use hagerty at silverstone they are all car fanatics & owner i know of someone who had the misfortune to have a claim & it was handled swiftly & to there satisfaction there breakdown cover for Europe is very good also one of our group had to be trailored from Paris last June. Also owners who are insured with them can drive each others cars with FULL COVER not third party great in emergencies. I have no connection with them other than as a satisfied customer.
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PostPost by: Jason1 » Mon May 04, 2009 7:27 pm

Hi

I just got an email quote from Adrian Flux Insurance for lay-up insurance, it came in at £104. This seems a bit high to me, the car is clamped on my drive. I only paid £200 when I was driving it.

Has anyone else taken out Lay-up insurance?

Jason
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PostPost by: Robbie693 » Tue May 05, 2009 12:52 pm

I've always used Footman James. Originally because they were tied in with Club Lotus and subsequently after I made a claim and they paid up no problem.

This year however they want £193.00 (unlimited mileage, £10.000 agreed value).

I got an online quote from Peter James, who are also a Club aprooved insurer, for £120.00 so I think I'll go with them. Just need to confirm with them that my solid driveshafts aren't considered a premium hike.
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PostPost by: atthelimit » Tue May 05, 2009 1:43 pm

As an Elan owner and Insurance Broker I can offer some advice on this subject.

Whilst I do not want to appear over critical of the quotes you have had I would say that at a glance they do look a tad high, but the quote does depend on the value of the vehicle we are talking about.

WHEN BUYING LAID UP COVER THERE ARE A NUMBER OF THINGS YOU SHOULD LOOK OUT FOR.................

A) Make sure the cover offered is still on an agreed value basis.

B) Make sure that the policy can be transferred to a "road risks" policy at a later stage when the car is repaired/restsored etc.

C) Most companies offer Fire and Theft cover but try and get Accidental Damage cover as well, if you do drop a heavy object onto the lovingly restored bodywork it would be a very expensive mishap.

D) Insurers will only cover the car for the value as is, and not, what it will be worth when finished. If you are restoring a car remember to give the insurers regular updates as to the work done and its current value so that you would get a fair settlement at the time of a claim.

I am an Elan and Europa owner and we feature on the vendors page for Insurance but as a rule of thumb we offer all the above cover and for cars up to say £10,000 the premium for 12 months laid up cover would be £62.00 A Road Risks policy on the same car could be as low as £85.00 but that depends on other factors like your age and claims/conviction history. If you want to send me a PM or reply via the vendors page I will let you have a proper quote.

Kim
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The friendly Lotus Broker!

P.S. as mentioned in the thread earlier modified cars can alter the price of the insurance but this is normally only when the engine is pushing out a lot mor BHP. Solid drive shafts, Spyder chassis etc would not normally make a difference.


P.P.S. ALARM BELLS The post that mentioned the insurers who refused to pay when the car keys were stolen from the house is alarming. Going off classic insurance for a second, the rise in this type of theft as rocketed due to the improved security on cars, the immobilisers fitted now mean it is far harded to hot wire a car and so this type of theft is the criminals preferred method of theft now. A classic car could most likely still be hotwired but that is not a valid reason for insurers not to pay a claim. In the case mentioned the car was recovered without damage but had the matter have got to the point where a claim needed to be made then I would advise the owner to take legal action against the insurer and use the free insurance ombudsman service. The insurers would not have had a leg to stand on unless there is a specific clause in their policy which exclude such thefts. (I have not come across one an it is unlikely any reputable policy would have this clause in!) Insurers do sometimes ask to see two sets of keys to make sure that owners have not just left the cars in the ignition whilst they nipped into the shops or defrosted the car on the driveway but that is a different senario alltogether as the owner has actively made it easier for the thief to steal the car.
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