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PaulJ
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PaulJ PCGB Member
2020/11/16 14:23:34 (permalink)

Insurance

Hi all,
Having recently sold my 981 GTS I'm looking forward to the delivery of my 718 GTS 4.0 at the end of the month.  Here's my question:  What are your recommendations for insurance cover these days?  I got into Porsches 20 years ago (the next will be my 7th) and at the time there was a service called Porsche Insurance Services which was excellent.  This was then taken over by Marsh Insurance brokers and they were fine too - placing me with Aviva recently.  On contacting Marsh to arrange cover for my next car I was told they no longer do car insurance and passed me on to another department who "will call me back"...
 
I contacted Aviva directly and they wanted almost twice my last year's premium!  Locton was the most efficient and even though they were 60% more than I paid last year might get the business, but what do other members think?
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Twinfan
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Re: Insurance 2020/11/16 14:32:33 (permalink)
I have the Lockton PCGB policy which works out slightly more expensive than a mainstream insurer, but there are additional benefits e.g. track day cover, named contact etc.
 
Mannings seem to get good reviews but they were very expensive for me.
 
On the mainstream front, Liverpool Victoria and Direct Line appear to be popular.
 
Watch out for Admiral as they initially seem to be well priced but you need to declare every single factory fitted option to get cover which pushes the price right up.  It sounds odd but it's true.  Best avoided for modern Porsches IMHO.
post edited by Twinfan - 2020/11/16 14:35:46
Motorhead
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Re: Insurance 2020/11/16 14:44:13 (permalink)
Paul,
 
Insurance is always a bit of a lottery (the devil is in the detail!), and like many other Members I’ve not yet received a competitive quote from Lockton’s. I’ve used ManningUK in the past and have been with ClassicLine for quite a few years and have been more than satisfied with the service provided by both, especially since they include track-day cover in their policies. My ClassicLine cover also includes full UK and EU breakdown cover, although I appreciate that won’t be an incentive for you.
 
Jeff

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North Beds (R10 & R24)
CDR
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Re: Insurance 2020/11/16 16:48:52 (permalink)
Hi Paul,
 
I too previously used Porsche Insurance Services, which as you say then morphed in to Marsh Insurance brokers. I took delivery of a 718 GT4 on Saturday and Marsh quoted for the insurance for this car.  In fact I have just confirmed my cover with Aviva, placed through Marsh. I too tried Locton and received a significantly higher quote and also tried Porsche Car Insurance whose quote was three times the one from Marsh / Aviva! 
 
I don't know who you spoke to at Marsh, but they are certainly still providing car insurance.
 
Thanks Colin
 
 
Scrounger
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Re: Insurance 2020/11/16 16:50:44 (permalink)
I'm with Admiral and they are pretty competitive. I tried the likes of LV and they were twice what I'm paying with Admiral and even the sponsors on here were ridiculous. They wanted me to hardly ever drive the car, add a tracker, garage it when possible. They were just shy of asking me to ground anchor it!!
 
As a side note, I'd make sure to get GAP insurance whether you plan to buy it outright or finance it.

North West (R5 & R18)
Current: 2022 Cayman GTS 4.0 Aventurine Green, PDK
Gone but not forgotten: 2020 Base Cayman, White, PDK
DWaldie
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Re: Insurance 2020/11/16 17:26:17 (permalink)
I'm with LV on a dual car policy. I had to make a claim in January on my daily and it made no difference when I renewed. They were also excellent in sorting the repair. To top it all, their policy was almost half the price of the next nearest rival. Effectively, I got the Porsche insured for an extra £100/year.Mine is a completely standard CS, so nothing complex to insure.
ScottishSpyder
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Re: Insurance 2020/11/16 19:39:01 (permalink)
 
 
As a side note, I'd make sure to get GAP insurance whether you plan to buy it outright or finance it.


Why if buying outright?

718 Spyder 2021 ,
Macan S 2019
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Gone
997 Carrera 2005
944 Turbo 1988
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Twinfan
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Re: Insurance 2020/11/16 21:54:55 (permalink) ☄ Helpfulby lawrence quinn 2020/11/16 21:59:29
Covers you for the full invoice cost in the event of a total loss in the first 4 years.  So if your car depreciates you'll get back what you paid.
 
Not quite as beneficial for a situation pf negative equity as when you have finance, but still useful.
kitchens
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Re: Insurance 2020/11/16 22:52:08 (permalink)
When I bought my new 981 SPYDER  back in 2016 I insured with  Porsche services via Marsh /Aviva private clients and also took out Gap via Alm £99  which gave back to invoice ,not sure if it was just the first year certainly not 4 years .Have tried Locktons on a few occasions but no idea where they get there prices certainly for me never competitive. Been with AVIVA now for 4 years on a multi car policy a 981 2.7 and a 987 Spyder and Skoda Yeti  l&k Pay around £640 fully comp protected 15yr ncd, excess on the Porsche's are £500 ,To be fair I do limited miles  garaged cars and very senior    
GordonT
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Re: Insurance 2020/11/17 12:16:55 (permalink)
There are two advantages of insuring with Lockton in my experience.  Firstly, the "agreed Values" (which in the case of the Porsche is provided by the absolutely excellent service from PCGB) although I'm sure other insurers offer this.
 
The other is if you have numerous vehicles and put them all on the policy.  The individual quote for my Porsche was twice what I'd paid the previous year with another insurer but there was an overall saving by the time I'd added four more vehicles (with a total value of about half that of the Porsche!).
 
Then, of course, there is the track day cover as well - but only for your Porsche at certain events (not the Nürburgring!).

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PaulJ
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Re: Insurance 2020/11/17 14:02:09 (permalink)
Thanks for the input everyone.  At least I have more information to go on now.  I'm currently waiting for into from the Marsh/Aviva motor division I was eventually passed on to.
 
The 'Private Client' cover was not applicable as my new car would only be £70,000.  Unless you have other types of insurance policies with them  the car must be a minimum of £100,000.  That put me in my place!
Scrounger
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Re: Insurance 2020/11/17 14:05:30 (permalink) ☄ Helpfulby KenDavis 2021/10/24 15:58:47
If you decide to buy GAP, try ALA for a quote and use the code MSE25 and you’ll get 25% discount. 

North West (R5 & R18)
Current: 2022 Cayman GTS 4.0 Aventurine Green, PDK
Gone but not forgotten: 2020 Base Cayman, White, PDK
PaulJ
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Re: Insurance 2020/11/20 14:45:38 (permalink)
Thanks again for the input.  I went with Locton in the end as they seemed the most professional, enthusiastic and knowledgeable.  I pick up my new car on my birthday next Wednesday.  Perfect timing!   
Peter_Bull
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Re: Insurance 2020/11/20 16:57:25 (permalink)
PaulJ
Thanks again for the input.  I went with Locton in the end as they seemed the most professional, enthusiastic and knowledgeable.  I pick up my new car on my birthday next Wednesday.  Perfect timing!   



if your with Locktons as I am you should have agreed value insurance and therefore no need for GAP.  It’s in my own policy.


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Twinfan
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Re: Insurance 2020/11/20 17:11:59 (permalink)
Peter_Bull
 

if your with Locktons as I am you should have agreed value insurance and therefore no need for GAP.  It’s in my own policy.




If you have Back to Invoice Plus cover, as I have, it would cover the replacement cost if the car price goes up e.g. in the event of a 10% hike with a no-deal Brexit.  So it's still potentially worth having.
PaulJ
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PaulJ PCGB Member
Re: Insurance 2020/11/21 13:28:59 (permalink)
Twinfan
Peter_Bull
 

if your with Locktons as I am you should have agreed value insurance and therefore no need for GAP.  It’s in my own policy.




If you have Back to Invoice Plus cover, as I have, it would cover the replacement cost if the car price goes up e.g. in the event of a 10% hike with a no-deal Brexit.  So it's still potentially worth having.


I think that during the first two years of the car's life, in the event of a write-off I get a replacement car at what ever cost.  (Assuming they are allowed to keep making them!).
paul_uk
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Re: Insurance 2021/01/26 00:38:01 (permalink)
I wondered if anyone has any recent experience of renewal pricing?  I've been with Manning for several years and so far can't fault their competitive pricing, especially with track day cover included.  But this year's renewal invitation has arrived and it's 30% higher than last year, and the track day excess has increased from 10% to 15%.  There are no claims etc and car values have gone south since this time last year.  I'm wondering if others are seeing higher pricing generally, or maybe it's just me and I need to shop around this year.
AndrewT
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Re: Insurance 2021/01/26 08:18:28 (permalink)
It’s not just you, my policy with ManningUK went up a similar amount this year.

Andrew.
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R17.
AndrewCS
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Re: Insurance 2021/01/26 09:47:44 (permalink)
Appears to be industry wide ... Aviva via broker Marsh have ceased certain types of policy. Replacements, where / if available are as noted above ... increased cost for less cover.
 
Used to have three cars with Marsh - Aviva, now none. For anyone dealing with Marsh in Cardiff ... they recently passed me to their Commercial team here in Aberdeen. An improved service and cover but increased premium using Zurich (non Porsche). 

Aberdeenshire (R2) : Cayman GT4 981 - Cayman S PDK 981 - Cayman R 987.2


stevienix
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Re: Insurance 2021/01/26 09:51:16 (permalink) ☄ Helpfulby AndrewCS 2021/01/26 10:24:14
Guys Try Brent Acre in Swansea, a brilliant service from people that not only understand the car classic/performance car scene but who love it. Ask for Ieuan Nixon
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