Protecting your vehicles

We can look after any type, size and age of vehicle and also give you advice and an expert to speak to which is becoming a rare thing with the modernisation of online car insurance quotes.

Here are some common solutions we have in place for our clients.

Your Day to Day Vehicle

Whether you main vehicle is to get you to work, used for work or used as the family car, making sure you can get it back on the road is probably the most important aspect of any of your insurance policies.

Here are a couple of things we think are important when insuring your vehicle.

Compare the Value.com

Insurance comparison sites will have you believe insurance is all about price, price, price. Our belief is that it’s all about value, value and more value.

Choosing the insurer is as important as the price as when it really matters and you need to get back on the road the insurers claims service can make a significant difference. You would much rather pay an extra 10% of premium to have insurer to get you back on the road in 24 hours to one that takes 3 weeks to get you to the same position.

Have you got courtesy vehicle cover?

Not all policies have courtesy car cover as standard. If you have a claim and your vehicle is in for repairs, some insurers will provide a courtesy car whilst yours is being repaired but only if this is part of your policy so it’s best to check this especially if you are unable to borrow or use another vehicle.

Do you have breakdown cover?

Imagine you are driving along and all of a sudden, your dashboard lights flash and cut out, your engine stops running, and the car starts to slow down. You quickly move it to the side of the road and panic sets in. You are stuck, how are you going to get home?

If you have breakdown cover in place, then it’s a simple call to your breakdown service (we recommend RAC as the best on the market) who will come and either fix your vehicle or take you home.

For around £60 it’s a small price to pay for peace of mind.

BUT if you ever do breakdown and don’t have cover in place just remember the name MACADAMS who operate all throughout the north west. Whilst you will have to pay recovery costs their service is second to none.

Macadams 24 Hour Rescue number is 0370 4285191

ULR stands for Uninsured Loss Recovery. This provides cover for your excess or hire car costs if the 3rd party involved in an accident is at fault. It will also cover any legal expenses arising out of the incident such as personal injuries.

No one wants to be in a position chasing or dealing with legal claims. As such, having the legal cover in place to take care of this on your behalf can be a huge benefit and for a cost of as little as £20 is something every driver should have in place.

Leasing – why you need GAP insurance

Every lease provider now is obliged to offer you GAP insurance as part of your lease or PCP arrangement.

GAP insurance simply provides the cover for the difference in the insurance settlement and the remaining finance costs.

If you purchased a lease vehicle today and it was involved in an accident next week and became a total loss then insurers would depreciate the value of the vehicle and give you less than what is remaining on the finance arrangement. As such, you would be responsible for the balance, leaving you out of pocket.

Having GAP insurance allows you to cover the ‘GAP’ and make sure you can cover any differences. It’s a relatively low premium however always get an alternative quote from an insurance broker as they will often price these for the benefit of the consumer rather than the car provider who is seeking additional income.

Young Driver Insurance

Young driver insurance is a complex area, one in which we have seen astronomical prices due to the potential claims of inexperienced drivers.

We know that unfortunately the many get subjected to premiums due to the claims of a few so your young driver must pay extortionate prices to have their first car.

Here are several options to consider.

Option one – Use a specialist motor insurer (our preferred option is Marmalade Insurance) to facilitate a number of options. The best thing about this is we can still look after your policy but tap into the technology used to provide a great all-round solution.

Option two – If you own a business and operate a motor fleet and your son/daughter works for you, there is a potential to add the vehicle onto the fleet even if this is owned by a director and not the company.

Option three – Go online, often it’s just a price consideration and getting some experience on the road to help with premiums in the future. Insurers are always competing in the market and often make weekly changes to pricing.

Your Prestige Vehicle

You have worked hard to buy your dream car. Whether this is a Rolls Royce, an Aston Martin or a Ferrari, your insurance should reflect the type of car you have.

As such, you should look to get the best value from your insurance company. Yes, the premium will be reflective of the value and type of the car but the last thing you want is to be left disappointed if you are ever unfortunate enough to have a claim.

Here are a few things to look out for when insuring your prestige vehicle.

Value – Make sure you have calculated the true replacement value of your prestige vehicle. Often there is a lot of depreciation on a high value car however, limited editions and changes in the manufacturer’s popularity can have a significant effect on the value of your car.
Driving restrictions – Often with prestige cars, insurers will apply a minimum age to drive the vehicle. This is typically 35 years and older but younger drivers can be added on either a permanent or ad hoc basis.
Trackers – Insurers will often want additional security for prestige vehicles sometimes in addition to the factory fitted security measures such as trackers.
Excess – Watch out for your excess sections as the theft excess might be higher than the standard excess.

Your Electric Car

The popularity of electric vehicles is escalating very quickly with many manufacturers committing to producing only electric vehicles in the very near future.

Insuring an electric vehicle is no different than insuring a standard car, however be aware that certain manufacturers such as Tesla are at greater risk of theft so insurers may apply a larger excess to your policy.

Your Classic Vehicle

What is a Classic Car?

HMRC defines a classic car as one that is 15 years old and worth over £15,000, however for insurance purposes it could mean any of the following or a combination of these:-

* Limited edition production
* Value over £5,000
* Over 15 years old

Do I need specialist cover?

Yes, a specialist insurance policy for your classic vehicle is always recommended, the main reasons for this are that:

  1. It’s often more cost effective – As a classic vehicle owner you take greater pride in your vehicle and use it less. As such, the risk of a claim is lower, and this is reflected in the premium you pay.
  2. You may need specialist repairs – If, unfortunately, you have a claim, you may need specialist repairers, parts and experts to get your pride and joy back to its original state. Having a specialist insurer will give you access to experts and people who understand your vehicle.

We’re here to help

We’re here to help and answer any questions you may have. Get in touch today to discuss how we can help make you risk resilient and provide financial wellbeing.

covid-19 pdf cover

The Guide to Risk Resilience During COVID-19

We’ve put together a handy guide to help give you some clarity during this uncertain time. Click the link below to access the guide as a free download and get in touch today to speak to one of our friendly advisors.

Book a free consultation to learn more about how we can help you.