Insurance for Club Permit cars

[GeeTV]

I shouldn't be surprised but insurance for my Alfa with 45 day club permit registration has increased this year by 200%.
No changes to the policy & no claims have been made.

Surely there is an insurance provider with reasonable rates?

[alfagtv100 (Biggus)]

Hi GeeTV,

I am insured with Shannons (1971 105 coupe).  When I changed my rego to the club permit last year, they actually reduced my premium slightly.

Cheers,
Marco.

[Paul Gulliver]

I have a  1973 105 coupe and had the same experience with Shannons as Marco. Slighty reduced premium on what i though was a very competively priced policy

[GeeTV]

Thanks for the replies - Are you both saying that your premium was only slightly reduced when going from standard road registration to a restricted club permit?  I would've thought it should drop by more than a reasonable amount when you consider that your vehicle will only be on the road a maximum of 45 days a year compared to a possible 365.
Really, it should drop significantly.

In my case, it was just a simple renewal of a policy for my car that was already on club permit registration - I'm very disappointed.
Just when Vic Roads makes classic car ownership more attractive, the insurance companies have to go & take advantage.

I wonder if the AROCA has ever investigated the possibilities of becoming a player in the automotive insurance game?

[Paul Gulliver]

I haven't got the exact figures with me but both my 105 & 116 are on CH and the premium for comprehensive cover is about $250 per car on a 90 day permit. Most people are paying about $1,000 0n their daily driver. I think thats pretty reasonable value.

I wonder if the AROCA has ever investigated the possibilities of becoming a player in the automotive insurance game?

There might be lots of insurance names out there but the reality is there is only about 4- 5  underwriters left in the country all of significant scale. I don't really see it as a business opportunity for AROCA.

[Evan Bottcher]

My third-party-only insurance on a car with 45-day club permit was just a bit cheaper than third-party on my full-reg car.  Not a huge discount.

I always expected the insurance to go up with the new less-restrictive club permit scheme.  Cars previously would be driven only to club events, mostly on weekends - light traffic etc.  Many cars are now going on club reg for occasional use for any purpose, and even cars that aren't so well cared for.

[John Hanslow]

From what I understanding Shannons and LSV should be offering a discounted insurance on Club Permit cars.  In fact the best way of putting it is that insurance (and risk) is based upon many factors including the amount of time a car is on the road.

So with multiple vehicle ownership, it is recognised that you only drive one at a time and a car that has limited use has insurance priced accordingly.  You may have to explain this fact if it is missed by just getting a quote for 1 car, not the lot. 

I got limited use insurance for my 8 year old 147 as I catch the train to work and only drive on weekends.

I wonder if the AROCA has ever investigated the possibilities of becoming a player in the automotive insurance game?

We had that some years ago but currently LSV offer a 'discount' for club members so there we go, members get a benefit and membership officer has a bit of free time.

[GeeTV]

My third-party-only insurance on a car with 45-day club permit was just a bit cheaper than third-party on my full-reg car.  Not a huge discount.

3rd party?  So the value [vintage/rarity of parts] of the car insured in this case is irrelevant and still the discount for restricted road use is not significant.
I don't have any experience in the insurance industry but this just does not sound right.

[GeeTV]

Can anyone recommend any other insurers apart from Lumley & Shannons?