Cheap insurance could come at a cost
It might be far from the most enjoyable thing about owning a classic car, but choosing the correct insurance policy is crucial in making sure your pride and joy is fully protected.
With the rising costs of living and indeed motoring, price is becoming a priority for many classics owners but this could mean sacrificing many of the benefits that enthusiasts value. Moreover, if the worst should happen, having the peace of mind that you and your vehicle are safe and fully protected is invaluable. Making sure you get the right policy is not so easy, so taking the time to talk to a specialist is time well spent.
If the safety and security of you and your vehicle are your top priority, Andy Fairchild, of specialist insurance broker Footman James is on hand, to highlight what you should look for when taking out an insurance policy.
The first thing to remember is to find a policy that includes your chosen extras as standard.
All Footman James motor policies include European and UK breakdown cover, legal expenses cover, salvage retention, personal accident and emergency travel cover.
Some companies may not include these as standard, so if you are shopping round for insurance, you must remember that any price comparison has to take all differences into account.
Different brokers include different services as standard, so it is essential that you find out exactly what you are getting for your money. That is the only way to truly compare policies.
Heaven forbid your pride and joy should come to grief, but if that fateful situation should arise, Footman James’ policies offer an ‘agreed value’ option. This means the vehicle’s true value is confirmed when you first take out the policy taking any extra stress away in the event of a claim.
“Agreed value policies protect the value of a specific vehicle, taking into account its heritage, pedigree and the condition of the individual vehicle. This policy option allows the enthusiast to document the condition and individual value of the vehicle at the onset of the policy.
“Conversely, a standard motor insurance policy will, in the case of a complete write-off, pay out the vehicle’s market value only – relevant to the day that the claim was made.” explained Mr Fairchild.
If your vehicle is involved in an accident, we recognise that many people won’t want to trust their pride and joy with just any garage. With a Footman James policy you are able to select a garage of your choice to undertake the repairs and if you breakdown abroad your vehicle will be repatriated and delivered safely to your chosen specialist. If your classic is beyond repair and is written off you will also be offered the salvage, an option not included by many other insurance brokers.
In the unfortunate event that you or your husband/wife should be injured in a road traffic accident, we will pay £2,500 in personal accident benefits in relation to specific injuries suffered as a result. In addition, should you get involved in any disputes in relation to an accident that occurs while insured by Footman James, we will cover legal fees of up to £2000 to defend or represent anyone we insure against prosecution. These highly valued benefits are, again, included as standard in a Footman James’ policy.
Finally, a word of warning, on-line quotes may seem the quick and easy option, but if you speak to a specialist insurance broker, you will be offered a choice of specialist vehicle policies to suit your specialist vehicle needs.
The only way to make sure your insurance policy suits all your needs is to discuss all the policy options with an expert, such as Footman James.