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DRZ911
Barcelona


Joined: 13 Mar 2013
Posts: 1399
Location: Belfast


PostPosted: Fri Aug 17, 2018 8:36 am    Post subject: GT3 Insurance Reply with quote

Considering buying a second-hand 991.2 GT3, cost circa £160K.
Just surfing round for insurance quotations and see a wide spread of figures.

For a multi-car policy with my old knackered TT (£2K value), the cheapest company on comparethemeerkat.com is O2 at £1921.

If I put the same details into LV, the quotation is £627 for both cars.

Why the vast difference ?
How does LV determine the value of a GT3 if it is a total loss ?

Any better places I should be looking at for GT3 insurance ?

Thanks in advance.
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spongebob squarepants
Reims


Joined: 20 Dec 2009
Posts: 4182
Location: Manchester and Iraq


PostPosted: Fri Aug 17, 2018 8:42 am    Post subject: Re: GT3 Insurance Reply with quote

DRZ911 wrote:
Considering buying a second-hand 991.2 GT3, cost circa £160K.
Just surfing round for insurance quotations and see a wide spread of figures.

For a multi-car policy with my old knackered TT (£2K value), the cheapest company on comparethemeerkat.com is O2 at £1921.

If I put the same details into LV, the quotation is £627 for both cars.

Why the vast difference ?
How does LV determine the value of a GT3 if it is a total loss ?

Any better places I should be looking at for GT3 insurance ?

Thanks in advance.


Nice Thumb

No expert but you need agreed value which no doubt is available, whatever the cost. Classicline insure modern classics, for that money a specialised valuation would be required, for the cheaper stuff they will just agree it for 24 quid without quibble.

Alternatively gap-insurance.
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Stuart Mackay
Spa-Francorchamps


Joined: 29 Apr 2013
Posts: 263
Location: Swaffham, Norfolk and Good


PostPosted: Fri Aug 17, 2018 10:34 pm    Post subject: Reply with quote

Admiral Multicar do an agreed value on my GT3 and C4
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m119cars
Monza


Joined: 28 Jan 2015
Posts: 158



PostPosted: Sat Aug 18, 2018 11:35 am    Post subject: Reply with quote

I used to have a multi car policy with Admiral which was fine until I wanted to add a .2 GT3, they couldn’t get their head around the fact a £140k car would cost closer to £180k to replace in the event of a total loss.

I ended up going with one of the specialist brokers (AIB) which was nice and easy.

As said agreed value is an absolute must and I’m not sure the ‘main stream’ companies are the best for that.
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MJA911
Magny-Cours


Joined: 10 Dec 2013
Posts: 2712
Location: Berkshire

2012 Porsche 991 Carrera

PostPosted: Sun Aug 19, 2018 10:07 pm    Post subject: Reply with quote

With Classicline for my gt3 (and Boxster), Which is half the value of the sort of car you’re looking at DRZ, but found them to be very competitive compared to other specialist insurers and better value than the admittedly cheaper mainstream (e.g. Admiral) once agreed value, euro breakdown, track cover, choose own repairer etc., is taken into account.

Apart from the features (which you may or may not need) I would always want to be with a broker/insurer experienced with insuring high value cars like these, they are a small fraction of what a mainstream company insures, could be a frustrating experience should you need to claim.
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Cheib
Spa-Francorchamps


Joined: 20 Feb 2016
Posts: 282



PostPosted: Tue Aug 28, 2018 3:19 pm    Post subject: Reply with quote

MJA911 wrote:
With Classicline for my gt3 (and Boxster), Which is half the value of the sort of car you’re looking at DRZ, but found them to be very competitive compared to other specialist insurers and better value than the admittedly cheaper mainstream (e.g. Admiral) once agreed value, euro breakdown, track cover, choose own repairer etc., is taken into account.

Apart from the features (which you may or may not need) I would always want to be with a broker/insurer experienced with insuring high value cars like these, they are a small fraction of what a mainstream company insures, could be a frustrating experience should you need to claim.


What he said.

Mine is insured with Zurich Private Client through a specialist broker (Nowell and Richards), cover includes three track days a year and the car is covered up to 150% of the invoice cost as standard. So in my case £210k. Repairs at garage of my choice with OEM parts etc (so a Porsche replacement windscreen). The OEM parts thing is particularly important because of how strict Porsche are with warranty claims.
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