Does it qualify?

Inglewood

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Hi, does a 1998 SL 500 qualify for classic car insurance and with a mileage of less than 3000 miles per year.

Any recommendations of which sites could be best for 60 year old man like myself?
 

LostKiwi

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Doesn't need to be 30. Our '93 r129 qualified when we bought it 4 years ago.
Ours was with Admiral.
 

Chrishazle

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As a second car also try ClassicLine, had my 968 insured with them for years, their insurance also includes full EU breakdown and recovery.
 

LostKiwi

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As a second car also try ClassicLine, had my 968 insured with them for years, their insurance also includes full EU breakdown and recovery.
That's an important point. It has to be a second car in the insured's name.
 

davidsl500

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I used to insure my R129 '91 with Lancaster Insurance - starting back in 2004 when it was 13yrs old. Their main stipulation was that it must be a 2nd car and the first "car" musn't be a van.
 

400ixl

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Classic insurance is just a type of policy, there is no global rule as to what qualifies. Each insurer sets their own guidelines. It could be 3 years old and on a classic policy if the insurer decides to accept it. Its not like the government road fund date where there is a set criteria of age.

Its basically a low mileage second car policy, nothing "classic" about it other than the name.

Try a broker like Peter Best and see what they can do.
 

daveenty

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I had my little 190E Cosworth insured with Markerstudy through A Plan, mainly as another of my cars was with them.

It was on an agreed valuation policy, which is important, and cost £112 p/a fully comp, which I didn't consider too painful. I did limit the mileage to around 4,000 which suited me and helped with the premium, and the car had to be garaged to comply with their requirements. They also wanted a lot of photos of the car and in the garage for their records.

The reason for the agreed valuation is that, in the event of a claim, they won't fob you off with "book value" which in my case was substantially less than the car was worth.
 

Conor

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This is a really interesting thread and proving to be a great education to me.. I have been telling myself I want to buy an SLK R171 if the bangernomics on my S212 E350 work out. Insurance was the biggest cost I was starting to consider.
 

umblecumbuz

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Interesting to me, too.

So ... the 'second car' status does not need to be with the same insurer as your daily driver?
 

daveenty

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Interesting to me, too.

So ... the 'second car' status does not need to be with the same insurer as your daily driver?

Definitely not. A classic policy can be with any suitable insurer. I kept with the same one mainly because it was a service which they offered anyway but I could have taken it anywhere. No claims may be an issue if it's not the same supplier but the cost I quoted above was without it anyway.

I'm currently running two "normal" cars with 2 different insurers. The Co-op are very good with green/eco stuff, so the Lexus is with them, but they would baulk at having the E63s on their books so that's elsewhere. The 190E has now found a new home. :(
 

LostKiwi

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My 129 is on a classic policy with Admiral. None of my other cars are. They're all with LV.
 

ChrisKnottIns

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That's correct, second car just means that you have something else as your daily drive - which qualifies the classic as a low-use vehicle. Classic is more about use and collectibility than just age. Usually it has to be garaged, on limited mileage.

The club scheme covers your classics, modern and modified Mercedes'.
 

ab9758

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(OP may want to go straight to para below on mileage. Maybe an alternative to classic car policies?)

Some tips from years of arguing/moaning/leaving-rejoining insurers.
Every encounter I learn something new!

This month (July 2019) renewal for my 2006 W164 Mercedes ML 500.

Had 14+ years NCB with this and my two previous cars (ML63 AMG and ML55 AMG.)

Last year's premium was £520
plus monthly payment charge;
age 60+ Central London;
Group 50 car [seriously];
social-domestic use;
no voluntary excess - only insurer's imposed £150);
wife named as 2nd driver (she's a new-ish driver).
I'm named as an additional driver on my mother's Motability Car (apparently a real plus for the underwriters.)

Had a self-inflicted front end crunch October 2018 (but learned later car rental provided of Volvo V90 for over two months whilst awaiting parts cost more than the damage).

Notice last week increasing premium to £925.54. Sort of expected and in line with price comparison websites.

Hit lucky with the most wonderful advisor at Saga (yes - it is them!) who took me through everything.

I volunteered to remove wife as 2nd driver (she can get the bus) but told that was madness as by having her named on policy was worth a reduction of £00s.

Got onto subject of mileage.
It's only Central London shopping/school run and with 5 x 400 mile motorway round-trips a year.
(Just checked - 7,300 miles since October 2017 - 4k per annum or so and maybe 1/3 were unnecessary journeys to Wirral when I could use train).

I had indicicated a useage of 6000-7000 miles a year in all my previous renewals, just a number I plucked out of the air.

Advisor quizzed me and said it was one of the biggest factors in the pricing. Only too happy to 'fix' at 3k miles of less*.

Moments later renewal policy quote reduced from £925 to £499, less than last year's and she added some freebies such as key cover.

I've had a voluntary excess of £250 added but my 14 years NCB remains

Lessons learned:
i) Check out level of pricing from comparison web sites so you know what's in the market for "new customers".

ii) Pick up the phone and try to get the friendliest advisor you can. If the call starts badly, hang up and call back!

iii) Ask advisor for what they suggest you can do - they know all the answers. Let them lead the conversation.

iv) Share realistic level of quotes you've seen - they have access to nearly all the other underwriters' pricing so know if you are fibbing. You've then set a target to aim for.

v) Ask what you can increase (e.g. voluntary excess)/reduce (mileage, take off add-ons such as legal cover etc)

vi) Ask "what-ifs" such as adding the mother-in-law to policy. It makes a dramatic difference for top-end Group 40+ cars.
When I added my that-week newly qualified driver wife to my ML63 AMG (Group 50) the premium dropped by 35%. Apparently the insurers believe I wouldn't be such a prat or a boy-racer if my wife shared some of the driving!


* Wonder how they enforce excessive miles - perhaps demand to re quote and recover higher premium? Am I obliged to notify actual mileage each year? Will find out.
 


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