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GT3 Insurance

DRZ911

Well-known member
Joined
13 Mar 2013
Messages
2,220
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.
 
DRZ911 said:
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.
 
Admiral Multicar do an agreed value on my GT3 and C4
 
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.
 
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.
 
MJA911 said:
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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