Who do you insure your CSL with?

[Jimbo]

I'm moving from Aviva (even though its cheap cos I'm staff) to classic line probably at just shy of £400 to get a guaranteed value + they will give free track day cover for car club organised events apparently.

Tried flux but they didn't class the CSL as a classic :moan:, just peter best to try now to see what they can do.

[Straightsix]

I'm moving from Aviva (even though its cheap cos I'm staff) to classic line probably at just shy of £400 to get a guaranteed value + they will give free track day cover for car club organised events apparently.

Tried flux but they didn't class the CSL as a classic :moan:, just peter best to try now to see what they can do.

I am a bit careful with some of these smaller insurance companies as they may not pay out in the unfortunate event of a claim. Where as maybe a big company like AVIVA may.

Are you an actuary :-) ?

[Jimbo]

Don't work near the motor business unfortunately!

I've never had to claim (touch wood) and never had to deal with a smaller insurer, but I'll bear it in mind.

My worry with a market value insurer is that should cesil meet her end, not only would I be distressed, the market value payout would be round the £15k mark per Parkers or equivalent valuation service.

Unless anyones had the unfortunate experience and I'm wrong about the larger insurers.

[spoonz]

Don't work near the motor business unfortunately!

I've never had to claim (touch wood) and never had to deal with a smaller insurer, but I'll bear it in mind.

My worry with a market value insurer is that should cesil meet her end, not only would I be distressed, the market value payout would be round the £15k mark per Parkers or equivalent valuation service.

Unless anyones had the unfortunate experience and I'm wrong about the larger insurers.

I have same concerns, looking for an insurer who will do guaranteed value.

PS I'll keep an eye for you, from my neck of the woods!

[pinkpanther008]

Insurance Mafia

Chaps,

I also had concerns with agreed value insurance (which i finally went with).

If its an agreed value i know the 15K 'Parkers market value principle' wont come into effect if i was ever unfortuante enough to have a claim.

....buuuut as CSL values appear to be in good health and rising, would i be able to replace my car at the agreed value @6monthes down the line if CSL replacement cost had risen in value significantly over that period?:banghead:

I guess its a chicken and egg scenario!

PP

[Neil M]

Chaps,

I also had concerns with agreed value insurance (which i finally went with).

If its an agreed value i know the 15K 'Parkers market value principle' wont come into effect if i was ever unfortuante enough to have a claim.

....buuuut as CSL values appear to be in good health and rising, would i be able to replace my car at the agreed value @6monthes down the line if CSL replacement cost had risen in value significantly over that period?:banghead:

I guess its a chicken and egg scenario!

PP

I'm curious as to who can establish an agreed value in a rising market.
There is approx a £5K gap in price comparison between NJ and Hexagon,
if you/they use a trade guide you'll be miles out.

However what may be an acceptable figure today, won't buy you a replacement CSL in 6/12 months time.

PS: A Classic Car policy is usually applicable to a car when it's 10 years or older, check your birthdays.

[steveH]

agreed value insurance

Its a minefield but there is hope!!

Most classic car policy providers will consider cars from 10 years (possibly 5 years) old for agreed values, usually associated with limited mileage
With regards the actual valuation the some reputable dealers / Indy's may offer this service but so does BMW Car Club too (01225 709 009)
It is difficult to judge from photos / owners description the value and more so when the model (ala CSL) is rising.
Most valuers will use web based sites like this to gauge the asking prices along with P/H's & traders etc.
Ultimately it is the owners who need to be honest in their descriptions, any failure may result in the value being void (if considered fraudulent value or mis representing the actual vehicle etc). Having the comfort of an agreed value is IMO worth doing each renewal.
Finally bear in mind insurers work on current Market Values so do your homework to provide evidence of values at the time.

[Pip1968]

An additional point to bear in mind is that valuation on write off is based on private selling prices and not trade.

Pip

[s.mac]

I went with classic line with an agreed valuation. I just need to get the valuation from BMW or a another.
£330 per year and they will hold your no claims. I explained all the cars I use for daily are in my fleet but I didn't want to lose my personnel no claims.

They were happy with a valuation from CSL register if it was on a letter head.... Mark ??

[Straightsix]

I had car insurance with AVIVA for the M3 CS.
Renewal premium was quite high.
Cancelled the old policy.
Taken out a new policy with a few extra items of cover as you never know.
I saved about £1000. Well happy with that. Also saved about £20 per month on BMW Insured Warranty (Comprehensive) :-)

Also I had to remember to cancel cover otherwise they may automatically renew and tell the advisor.

[Jimbo]

I went with classic line with an agreed valuation. I just need to get the valuation from BMW or a another.
£330 per year and they will hold your no claims. I explained all the cars I use for daily are in my fleet but I didn't want to lose my personnel no claims.

They were happy with a valuation from CSL register if it was on a letter head.... Mark ??

I asked Elms yesterday if they could provide a valuation, after an initial yes, they cam back and said they could give me a verbal, but 'cannot provide a written valuation for insurance purposes'.

Dont know why, or if this will be all BMW dealers.

[Straightsix]

I asked Elms yesterday if they could provide a valuation, after an initial yes, they cam back and said they could give me a verbal, but 'cannot provide a written valuation for insurance purposes'.

Dont know why, or if this will be all BMW dealers.

The BMW Car Club GB do valuations for insurance companies.
I don't know how it works, whether is any good and whether insurance companies honour these valuations

Alternative is should be unlucky enough to claim to submit adverts of similar behicles to your and their prices

I don't know whether many insurance companies just pay out the price of M3 CSL same as the market value of any other E46 M3 Coupe or not ?

[73CSL]

Just got my agrred valuation through from Classic Line

I emailled all the required photos & got the valuation form completed & signed by a local specialist

Also, classic line covered me for my recent trackday with the BMW car club .

So far really impressed :thumbs:

[Johnnywb]

Rather than start a new thread, resurrecting this one...

Time for my renewal (oh joy).
So;
30 years old
55,000 miles
54 plate
Garaged in DT9 (Dorset)
Increased the value from £28,000 to £34,000
Alcons
Supersprint exhaust
4,000 miles pa (reduced from 5,000 miles last year).
Self & 1 named driver (the old man)

Quote of £534.71 from Pace Ward. Last year it was £653.

Seems reasonable.
Trackday cover has changed though;
UK days - £98 per day
European - £113 per day
the Ring - On request. Closed days only. You need to know the dates and event organiser before they'll quote.

Will get a couple of quote to compare and post them up for reference.

Classic Line: £527.44 with a £350 excess.
Trackdays on referral, but they say typically they'll cover 3 in the UK and a 'small' charge for Europe.

Waiting for Need2Insure to give me a call back.

[JBird]

With classicline, 650 p/a for a 32y.o. limited to 5000miles. Ended up with them as CCI booted all their under 35s last year.

Considering shifting to Equity Red Star, they are a similar price but have 5 trackdays included on a host of UK tracks and any FIA approved European track (Ring excluded).

I use Need2Insure as a broker and have found them to be very helpful.