348 insurance and buying

High possibility that I will get 92' 348TS next week, my fist F-car and I just can't wait that... . I have checked the car before but the final check will be done next week. Any ideas which areas should be checked extra carefully will be highly appreciated. One thing which I'm wondering is the insurance costs; I have lived in UK only for some time but have 4years NCB and have had driving licence for 9years, I'm 27yrs old. Car will be stored in residents only secured carpark in SW London but the best quite for me is 2000£ from Norwich with limited 6k miles! I'm thinking of possibility to buy megacheap second car and say that it's the main car and try to get classic insurance. Have anyone tried this? I'll got quote i.e. from Footman James which was over 4k£, I almost died when I heard that. But anyway, hope I'll find insurance and I'm sure that the first miles will make me forgot these costs...

 

I'm sure others will reply soon but if you need a quick answer try the search function (top left of screen) as I think this has been covered several times very recently - 348's are suddenly very popular

 

Will,

That's exactly what I have done, I've got a 150K+ mile Lancia Thema as an everyday car which costs less that £200 a year to insure fully comp as it's worth less than a used fiver. The spider is then insured through AON as a second car for £600 (3000 mile limited classic policy). The only problem you may have is your age as your under thirty.

Good Luck

Julian

 

There are dozens of posts on what to check.

My advice would be to pay for a specialist to check your proposed purchase over.

That's what I did, and I regard it as money well spent.

 

[
My advice would be to pay for a specialist to check your proposed purchase over.

That's what I did, and I regard it as money well spent.[/QUOTE]


I second that you must get a specialist to check it over ... also worth going to the FOC site and get a copy for your type, sports car guide indicating what to look for and give an indication about vale

 

I got a quote this week from:

http://www.aonprivateclients.com

For classic car insurance you are required to have it garaged over night.

The Ferrari also needs to be a second car.

You don't need any no-claims bonus.

You'll also need to join the FOC

 

Sounds like you are already getting a PPI done, which as everyone has said is an absoulte MUST. There are quite a few insurance threads in the archives to help with your quote. I'll try and dig em out. Finally, congrats on fortcoming purchase and welcome to Fchat

 

http://70.85.40.84/~ferrari/forum/showthread.php?t=54715&highlight=insurance

 

Thanks everybody, I used search but couldn't enough info about classic car insurance possibility. But still sorry for this FAQ.
Car is currently in the cambelt and full service and was sold by both independent Ferrari service/dealer (Verdi) and owner. I checked the car in Verdi but found after that owner could sell also directly (they had agreed that). But maybe it would be worth paying Verdi to double check the car. I think I have quite reasonable expectations about maintenance costs (2-3k£ per year), and understood that total engine blowouts are quite rare? Hope everything is OK and I can be a proud owner of F-car and member of F-chat!

 

Yes, get Verdi to do a PPI. For your peice of mind, well worth the £££. 348 engines are pretty much bullet proof if maintained properly . I wld be surprised if you end up paying £2.5 k a year unless you're inc insurance costs. I'll be @ Verdi today picking up my car

 

What if someone was buying a car from well known specialists like Verdi, KHPC,Nick Cartwrights or Talacrest?

Should a PPI still be done?

 

I personally would ask for one to be included in price by the selling dealer.

 

Always always always.......
good arabic saying "trust in God but tie up up your camel"!

 

I'll will have car checked either by Verdi or RossoCorsa. Are both of those reliable? Cost will be under 500£ for comprehensive check so I think it is worth investing on that. I will report what happens, I was quite positive about car when I investigated it by myself. Thanks for everybody!

Btw. When and where is the next F-chat meeting and am I welcome there?

 

Bought mine from Nicks, Goldenwheels bought his from Talacrest, omegasteve bought his from Dick Lovetts (Swindon). You'd expect most dealers to sell good quality cars and include service/cambelt change in the final price. Maybe I'm a trusting type of chap, but if you 'stick to the main road', you shouldn't go far wrong.

Definately get a check if you're buying privately.

 

That's double what you need to pay IMO

 

It shouldn't cost no 500 quid tho, mine cost £200 2 years ago at Evans Halshaw main dealers and I would prefer Karl Verdi's to the other one

 

I got also "decent" insurance quote from Tesco (2000£), now only worry is that they say that the car is modified even if only wheels are changed . Car has test pipes and I will almost certainly fit Tubis so will insurance cover after that is different question. Have anybody experience on this? I didn't get very clear answer so I try again tomorrow. This is because I red from previous threads that i.e Liverpool & Victoria won't insure modified cars. I'm not fully aware of insurance system here in UK so that's why so stupid questions...

 

L&V will insure cars with a modified exhaust - ask Ric355

 

I'm under 30years so they won't insure me, thanks anyway! (Same with AON) I just took it as an example.

 

Will - you may find (as L&V said to me) that they will insure the car with a Tubi, but they will not insure the actual Tubi itself.

I told L&V that i was fitting a Tubi come what may and if they didn't like it it would be a deal breaker and I would go elsewhere even if it cost me more money.

They were fine. Your Ins Co may be the same if you tell them you don't mind if they exclude the Tubi from cover?

Just a thought.

 

Correct I'm with LV and my car is Tubi'd up and it's registered as an exhaust modification on their database. This was done a while back now but they charged me nothing extra for it back then.

Ric.

 

Unbelievable, both Tesco and Norwich union will charge app. 10% extra if I change exhaust! Quite expensive to have good sounds and little bit more power...

 

Depends on the base cost. I would have been prepared to pay a few hundred quid more to find an ins co who would insure it with a Tubi.

Yes, the sound difference is that good!

 

I have just changed my insurer this week from Tesco to Coyle and Hamilton Specialist Car Division. No additional charge for the Tubi and with 6000 limited mileage, premium was £615 fully comp. Although, I am now the wrong side of 40 which does have some benefit at last!