Insuring a very expensive car in BFG

Discussion in 'Cars, Bikes 'n AFVs' started by low_roller, Feb 1, 2008.

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  1. A friend of mine is about to purchase a brand new american import car tax free in BFG.

    Having phoned many of the companies which insure BFG cars he is finding it difficult to get anyone to cover him at all.

    Does anybody out there have any info on companies that might cover an 8.4 litre Dodge Viper in BFG.
     
  2. ha ha....

    8.4 litre what the hell is that all about?
     
  3. WTF? 8.4?

    Try TF Insurance services. Set up by an ex-squad, and were good to me, when in BFG.
     
  4. Biped

    Biped LE Book Reviewer

    8.4 litres and generates about 350hp no doubt. For some reason, most septic manufacturers could never get a V8 past 350bhp.
     
  5. Tell your mate to buy a decent car instead, he might be able to insure it, as opposed to buying some septic shite that won't take corners!
     
  6. He's got a little dick :lol:
     
  7. Thanks HTB, already tried them and I think the words were "wont touch it with a barge poll"

    You know him then roofrat
     
  8. What about NAAFI in JHQ? I've heard they're rather good :twisted:
     
  9. My advice, tell you're mate to spend his cash on something a little more realistic in terms of insurance.

    Don't buy the fcuking Monster Truck!
     
  10. The problem he is facing getting insurance is not only due to engine size: it is due to the fact that he has brought a car with a horrendous crash ratio in Europe (trust me, my fiance is the CEO of a motor insurance company).

    The 8.4litre engine produces over 600HP. It is a monster of a V10.

    One small problem: the brakes on the car are seriously cráp, as are the suspension systems. The electronics are also nestling somewhere in the stone age. As a result this car, which was built to go extremely fast in straight lines in California and other nice sunny (and dry) American states, has a nasty habit of spinning into the nearest central reservation when it hits a spot of rain on the autobahn.

    Has your friend owned a supercar before? If his only previous drive was a 2litre Mondeo diesel then it will be impossible to find anyone to insure him at a reasonable rate (i.e. less than 15,000GBP per annum).

    I would recommend that your friend sells the car asap, or else attempts to contact a specialist insurance broker (Marsh, Aon, Leue&Nill in Germany). If he has anything other than a snow white record: the price is going to be horrible, even for MTPL cover only.

    Welcome to the fun of owning a supercar (my first one cost me 2,500quid a year MTPL only to insure (with 12 years of accident and penalty free motoring), 1,500-3,000 quid per service (one every 6 months) and a fuel bill similar to a Saturn 5 rocket).
     
  11. Flippin Eck Dread, them be some seriously worrying stats!

    SELL SELL SELL SELL SELL SELL
     
  12. Thanks for the info dread.

    He's got a Lotus at the moment which I wouldn't call a supercar.

    I'll pass your info on to him.
     
  13. The way to own a supercar is to do it in incremental stages, each stage at least 1 year long.

    e.g.

    1. Lotus Esprit S4s (2.2litre twin turbo). Cost about 17,000GBP. Insurance 1,000-2,500GBP per year. Service costs (in UK) about 500-800GBP (1,500-2,000 in Europe due to lack of competant mechanics).

    2. Lotus Esprit V8 or TVR Tuscan. Cost around 20-40,000GBP. Insurance and servicing costs remain the same.

    3. Ferrari 355. Cost around 30-60,000GBP. Insurance takes a leap as does servicing costs (insurance should be partially offset by no-claims bonus). Annual service costs between 1,000-3,000GBP depending on mileage.

    4. Porsche 911 (a decent one), Ferrari 550, Aston Martin V8. Cost 60-80,000 GBP. Insurance will now be hovering around 2,000GBP (fully comp with no claims discount. Some may be able to get much cheaper). Service costs remain the same unless something goes wrong (then sky is the limit).

    5. A modern, new supercar. Cost 60,000+GBP. Insurance will be high, servicing costs hopefully steady as warranty should cover main parts. Fuel expensive.

    Be aware that changing the clutch on a supercar (a very common occurance due to previous owners thrashing it while showing off) is expensive. For a Ferrari or Lambo you are looking at 7-10,000GBP (all for a part that costs between 120 and 500GBP).

    The number of garages (no matter how competant the mechanics) who can deal with a modern supercar are vanishingly small thanks to the use of unique guages and fittings (Lambo are the worst for this) and modern electronics. With older cars and one or two new ones (e.g. Lotus, TVR, Ariel, Noble, Spyker) they use parts from Audi, Ford, Honda etc and there tend to be communities of geeks who have rebuilt their own cars and can give advice and do the work for a fraction of the cost and know all the tricks (especially true of all old Lotus cars).

    Edit to add: I suspect there is a step 4.5: buy a nearly new previous model supercar (Ferrari 360 or 575). These cost between 70-120,000GBP).

    And your mate is a complete fuckwit for a. buying a car without getting firm insurance quotes for the car and b. buying a car that is so far above his current experience as to be unbelievable. As far as the insurer is concerned it is the same as a little old woman changing from a mini-metro to an Audi R8.
     
  14. Naafi just quoted about £1400

    Sounds dodgy to me
     
  15. Check the very small print....