Classic insurance - huge increase in premium

gipi

Partner has a classic policy with AXA for many years. 4 cars on policy, comprehensive cover, no claims apart from a couple of breakdown rescues.

Policy last year was just under 440 euro.

Renewal notice last week is looking for 600 euro - one heck of a jump!

Anyone else seen increases like this?

We will be shopping around, that's for sure!

MrCostington

Surprised at that. I'm with FBD and renewed early Jan, about a fiver less than last year.

Managed to save about 40 odd on my daily (early Dec), but I did change company to do that.

kuro2k

I am renewing my 1 car classic policy with AXA this month, same price as last year at 265 EUR

Neilw

When I saw the title I was thinking thousands, I left axa because they increased my classic policy by €950. They wanted €1380 for the year for 2 classics.

gipi

Thanks for the replies.

Two updates for ye -

The AXA renewal notice included the wrong premium for last year - it wasn't 440, it was 490. So, while there was still an increase, it wasn't as eye-watering as we first thought.

Contacted FBD, got cover for 5 classics, comprehensive inc breakdown cover, for 470 euro.

revoke12

Would you try Autoline I have 2 classic cars insured for 440 fully comp on both. They are insured with Allianz.

gipi

Thanks, I think himself has already done the deal with FBD, but worth keeping in mind for next year.

noelf

Renewed this year for €201 with Carole Nash with a agreed valuation of €15000 . First Ireland was quoting €335 for my renewal .

w124man

https://www.boards.ie/discussion/comment/118609570#Comment_118609570

Does your cover include European cover and towing a trailer?

gipi

https://www.boards.ie/discussion/comment/118617133#Comment_118617133

I haven't seen the documents sent out by FBD yet, so I can't answer at this time.

Neilw

Is it fbd who only allow driving to and from car shows? Not much use during a pandemic.

Check your policy allows commuting same as any regular motor policy.

MrCostington

Incorrect, FBD allow you to drive anywhere and with a basically unlimited mileage (10k miles, not km)

@w124man my docs are in work so will check on Monday if you don't get an answer by then. 99% sure UK is covered.

Neilw

https://www.boards.ie/discussion/comment/118619979#Comment_118619979

Not exactly what their website states, I knew I read it somewhere that cover only applies to show use.

Whether they cover regular use as an add on I don’t know, the policy documents don’t mention it.

Ahherelads2022

Axa bumped me up too. They did it the last 5 years and I made the call to them to complain, then they dropped it back down €50 quid. This year they bumped it up €150 and after the call it was still €100 to high at €600. Entered the same details with allianze and got it for €330. Bye bye axa

gipi

https://www.boards.ie/discussion/comment/118617133#Comment_118617133

@w124man , the policy does include European and UK insurance cover, and comprehensive insurance allows for towing of a trailer.

w124man

My AXA policy covers the same.

ccmp

fbd breakdown cover is only for Ireland and it entitles you to 1 hour labour and recovery not greater than 50 km. Insurance cover is Europe.

RobAMerc

does anyone know if changing the classic you have named as your main classic changes the premium ? I have a few cars but started my classic policy with a 2 door convertible ( which I initially got my quote for and did exactly 0 kms last year). Some of my other stuff is a little more sedate but actually gets used more, should I use one of them as the main car for the classic policy, would that make a difference ?

_ptashek_

They all know there's feck-all in terms of choice for classic insurance in this country, and they're milking us for it.

kdevitt

https://www.boards.ie/discussion/comment/118627720#Comment_118627720

Not sure that’s accurate - Chubb, First Ireland, Autoline, Carole Nash, Axa & FBD all offer classic policies. If anything, it’s easier to get a classic policy than a daily driver one in some cases.

Anyway, FWIW my old First Ireland policy exclusively covered journeys to car shows, no commuting - might have changed.

And despite being offered as an agreed value policy, Autolines cover is market value - you’ll need an independent valuation report submitted to them if you want agreed value.

_ptashek_

https://www.boards.ie/discussion/comment/118628206#Comment_118628206

Who sells the policy, and who the underwriter is and therefore dictates the price makes the difference. It's not as much choice as it looks.

kdevitt

https://www.boards.ie/discussion/comment/118628613#Comment_118628613

An average classic policy here is €300. It’s cheap by any standards. No one is being milked.

Some people just like to moan about everything.

_ptashek_

https://www.boards.ie/discussion/comment/118628891#Comment_118628891

Now try getting that same policy with a claim free, full EU driving license you've had for 30 years. Guaranteed 300% increase "because reasons".

I don't need an Irish license, as mine never expires. I need to be not discriminated against because I'm a "bloody foreigner". Same deal with insurance on my daily. You'd think that after 20 years driving here it may stop eventually, but nope.

It's not moaning. It's a fact.

MrCostington

https://www.boards.ie/discussion/comment/118621898#Comment_118621898

My documents seem to say I'm covered for SD&P on the cert, and says the same on the schedule, plus says this is deemed show and display, not sure what that means. When I got the insurance I did it in person and told the guy, 3 times, that I will want to drive i into work (into, not for) the odd time and go for a spin whenever I want - no problem he said.

kdevitt

https://www.boards.ie/discussion/comment/118629311#Comment_118629311

Ugh, the discrimination card. Someone born in Ireland, with a non-Irish licence would have the same issue, so its nothing to do with where you were born.

Renewing an Irish licence once every ten years is hardly an inconvenience - just sounds like someone wants to avoid accruing any penalty points on their licence. I'm all for higher premiums or non-quotation for people who drive here permanently and refuse to transfer their licence over.

kdevitt

https://www.boards.ie/discussion/comment/118630526#Comment_118630526

Technically, it appears you've only covered to drive to and from shows etc - my old policy was the same as this. I don't know of anyone who has ever had to claim on their classic policy though - so who knows how much grief you'd be given in that event.

Half the people I've dealt with recently have no idea of the details of the policies they're helping you with - had a guy from Autoline swearing blind that their policy was agreed value - eventually he agreed with me when presented with the insurance cert that clearly stated market value.

w124man

I've been with AXA since I started with classics and with a maximum of 4 cars I have never paid more than €450 for the lot. I have swapped cars around a good few times with only an admin fee if you do it too often. I got a 19 year old SL320 insured on the policy as well. They will insure anything I ask as long as it has an NCT. Full Euro cover, breakdown cover, trailer, windscreen etc and they will even give you 'laid up F&T' for projects. Also, I have never spoken to them on the phone either, I always call in to their office.

MrCostington

https://www.boards.ie/discussion/comment/118631445#Comment_118631445

But to use your own point re what the cert says, my cert says SD&P with no further qualifications.

I just recalled I did query the mention of show and display in the schedule, this is what I for back from them:

_ptashek_

https://www.boards.ie/discussion/comment/118631431#Comment_118631431

The government of Ireland guarantees equal rights to citizens of EU member states, as it does for its own citizens, which includes recognition of things like driving licences on equal terms. The insurance industry disagrees.

"someone wants to avoid accruing any penalty points on their licence"

EU license holders get penalty points just as anyone else would. They accrue and expire the same way. RSA notice, fine, and all that jazz. So, in a word: nope.

_ptashek_

https://www.boards.ie/discussion/comment/118634660#Comment_118634660

It's the same with my AXA policy. Basically there is nothing in the policy that would prevent use as a full-time daily even, albeit they won't issue a classic policy unless there's a different car declared as primary in the policy holders name so that's the limiting factor.

hi5

I think you are misinterpreting the show and display cover, my understanding is this is extra cover that they give you when your car is at a show and you might not get on a standard policy.

zg3409

https://www.boards.ie/discussion/comment/118629311#Comment_118629311

Non Irish driving licences can't really get penalty points. Insurers worry drivers will take it that they can speed without consequences. Insurers worry risk if accident is higher. Those who are here permanently typically get Irish licence. It's a red flag and you don't want red flags when getting a quote.

kdevitt

https://www.boards.ie/discussion/comment/118634660#Comment_118634660

Ah ok - sounds like your cover is fine in that case, although looking at my current one it specifically states commuting. My old one actually said cover was for driving to and from shows / events only (that was a First Ireland policy).

_ptashek_

https://www.boards.ie/discussion/comment/118636715#Comment_118636715

Trust me, they can, and they do. I've got first hand experience. And if you swap your licence to Irish, all points recorded in Pulse are transferred as well, so there's no loophole either.

To your other point: How can insurers logically justify that risk of accident is higher after two decades of proof to the contrary? I understand first time policy, since there's no record to go by, but otherwise?

I've challenged all the big players on this numerous times over the years and never got an answer other than "because reasons".

zg3409

https://www.boards.ie/discussion/comment/118649059#Comment_118649059

Non Irish licence holders often "go home" so don't worry about their virtual points. They may also be experienced driving on other side of road and possibly with less strict driving test and not on road Irish type roads. As a result they are more likely to claim than those holding an Irish licence.

They can't take into account anything more than 5 years previous, as far as I know, but I think they can use date licence was first issued.

They are all just risk factors or red flags.

Thinkingaboutit

https://www.boards.ie/discussion/comment/118615323#Comment_118615323

My premium is that, give or take a Euro or two, although the car would need to be concours (or top notch) for a 15k valuation.