Lancaster insurance quote.

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squealinneil

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Using the Mercedes Benz Owners Assoc. Quick Quote facility http://www.lancaster-ins.co.uk/quick/mercedes_benz_owners_assoc_intro.htm
Lancaster quoted the same premium whether I told them my car was valued at 1,000 or 15,000! Even the agreed value premium was the same. How can that be?
Where's the best place for a middle aged driver with a clean license to get cover for low mileage 15+ year old cars with a value higher than most ins. cos. would value them at? Has anyone had experience of Lancaster or Peter Best or any of the others who advertise in the various club mags? Is their service any good when you have a claim or is it endless negotiating with a claims adjuster telling you your car is worth 250 quid because one sold on ebay last month for that amount?
 
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talbir

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The insurance premium will usually not be a function of the value of the car once the car has reached a certain age. It's certainly a parameter on new cars.

With classic car insurance, the insurers will work of one or two values - market value or an agreed value. It is up to you to supply pics and documentation on your car if you want an agreed valuation. Once you've sent in your pics and docs at thestart of the policy, they will have an independant expert assess the true value of the car and this will be confirmed as the'agreed' valuation. So when your car is destroyed, you will receive that value, NOT the market value. And the insurer HAS to pay the agreed value in the event of a total loss - but only if you have an agreed valuation document.

Lancaster and Peter Best are only brokers - you need to read the wording of the policy yourself and see who the underlying insurer is. With Lancaster, it's usually Equity Red Star who are very good insurers. Also, check what cover is available on breakdown, windscreen cover, requirement for second car etc etc. With collectors policy, it's the coverage and insurer that are crucial, not premium.
 
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