Insurance requirements

[FIVE RED]

Just renewed the C5 insurance after getting some much higher than expected quotes. Finally got a decent deal from the broker I've been with for years but when I phoned to pay I was told the underwriter needed a couple of extra security items in order to satisfy the 'theft' part of the policy. Examples are a wheel clamp or steering wheel locking device, as well as a fuel cut off switch. They require photographic proof of these items in place otherwise the 'theft' part of the policy will not apply.
I can easily wire in a fuel pump cut off switch & buy a steering wheel lock to satisfy the underwriters, but I'm wondering if anyone else has had this type of request. In around 20 years of Corvette ownership I've not been asked this before.

 

[Chevrolet]

Never heard of the of the fuel cut off one before! Did you follow the Martin Lewis advice and get the cheapest quotes 23 days before renewal date? Send the attached to the broker to see if they can shave a bit more off it, all things considered?

 

[FIVE RED]

Yes I did the time scale that ML advised. Last year's premium was £144, this year's quote was £450! With a different underwriter this came down to £195 which was the best I could get anywhere else by some margin, just a bit surprised by the 2 requirements, although I guess if it makes the car more secure it's not a big deal.

 

[Chevrolet]

£195 sounds good to me for a C5?

 

[FIVE RED]

In today's market I also thought £195 fully comp. was ok. The insurers have clarified the security requirements for the theft part of the policy, as a start I've bought a 'baseball bat steering wheel lock' for a tenner from Euro Car Parts, easy to store when not in use & does the job:

The only security measures required to cover you for theft are 2 forms of mechanical immobilisation. There are a number of options which would be deemed acceptable including:

- Fuel Cut Off Switch
- Battery Cut Off Switch
- Gear Lock
- Pedal Box Lock
- Steering Lock
- Wheel Clamp

 

[Chevrolet]

Is that on a "classic car" type policy? Obviously they didnt ask you to put a "Tracker" on it, as some people with new C8s have been asked to do by their insurers. If you have (one of the few) UK spec/dealer (Vauxhall) supplied cars, you have a Thatcham Cat 1 alarm and immobiliser on it accordiing to this (Page 10). I'd be telling the insurer that.

https://www.thatcham.org/wp-content/uploads/2018/10/June-2018-OE.pdf

 

[FIVE RED]

Yes it's a classic type policy. It's a US car & I asked if I needed a tracker but they said not necessary.

 

[Carlie@A-Plan]

Bit late to the thread but I've not experienced these devices being requested by insurers and I've worked here nearly 8 years, so may just be that particular insurer's terms - Cat 2 immobiliser, Cat 1 Alarm/Immobiliser or a Cat 5/5s/7/7s Tracker are the norm of what they may request due to value, postcode, not being garaged and various other factors. They may ask what other security measures are in place but many don't make a difference if not a Thatcham Approved mechanism, some will be taken into account such as a removable steering wheel on a kit car that only has an immobiliser but not as a policy requirement.

p.s. the 23 days before on Martin Lewis is aimed at standard cars using standard insurers (as with most car insurance topics Martin talks about, he does usually mention if you have a specialist car this may not apply to you) - i.e computer driven quotes such as comparison sites. Specialist insurers and Specialist policies don't often work in the same way, many are manually calculated and no matter what day you do it the price will be the same Imports, Classics, Modified etc will likely not change within the full 30 days prior to your renewal There's a few that can, but this 23 day rule is aimed at "normal" car insurance. Hope this helps

 

[FIVE RED]

Bit late to the thread but I've not experienced these devices being requested by insurers and I've worked here nearly 8 years, so may just be that particular insurer's terms

Yes it was a surprise but to be honest it was cheap and easy to fulfil the 2 requirements for the theft part of the policy so not really a big deal. As it is the Corvette is rarely out of my sight, at least now I have the reassurance that it'll be harder to steal should I ever leave it parked somewhere.

 

[Chevrolet]

Hope this helps

Most definitely does Carlie! Your a star!! Thanks. Hope you had a great Xmas and all the best for 2024. See that you are using the Howden logo above. Had read that A-Plan was being rebranded as Howden. Part of the Howden insurance group.