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| Car insurance for Caterham and Westfield cars |
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Caterham and Westfield sports cars are well renowned worldwide for their exhilarating driving experience. Here we look at whether it is it possible to find car insurance for these exciting sports cars without paying over the odds?
Are Caterham and Westfield cars expensive to insure?
When assessing premiums, car insurance providers consider a number of factors including the personal circumstances of the owner, their driving history, address and annual mileage. One of the most important factors however, is the vehicle itself – such as how much it would cost to replace/repair, and its performance capabilities, with more powerful cars subject to higher premiums as they are more likely to be driven at fast speeds.
Unsurprisingly, Caterham and Westfield models can be subject to high premiums. For example, the Association of British Insurers has compiled a database with insurance group ratings for models ranging from 1-50 (previously 1-20) with the cars that are most expensive to insure being classified in higher groups. On the 1-20 system, the Caterham Seven HPC, built from 1990 onwards, is ranked into group 20. The same rating also applies to the Super Seven BDR built from 1987 onwards and the Super Seven Sprint produced from 1985.
Due to the rarity of Caterham and Westfield cars they not only retain their value comparatively well, parts may be more difficult to repair/replace. As a result of this many conventional car insurance companies may refuse to offer quotes for these vehicles altogether. However, there a host of specialist insurers with policies tailored to meet the needs of Caterham and Westfield drivers.
What can a specialist car insurer offer?
Depending on the insurer, you may be able to benefit from a number of customised car insurance options, such as:
- Agreed valuations: If your car were written-off or stolen it would generally be subject to a market valuation which could leave you out of pocket if the vehicle were under-valued. However, with an agreed valuation you know from the outset what the car is worth so there are no surprises – just ensure that the valuation is guaranteed. Some insurers even offer increasing valuations, reflecting the fact that the appraisals of these vehicles often increases year on year.
- Kit car insurance: Many enthusiasts like to build a Caterham themselves as a project. Most conventional insurers will not cover kit cars – however, some specialists will with policy options such as “build-up” cover, which protects the vehicle from theft and mishaps while it is being worked on; and “goods in transit cover” for when the vehicle or its parts are being transported.
- Modifications cover: As a general rule of thumb, the more you modify your car, the more expensive it will be to insure (unless those modifications boost its safety or security features). As such you may need specialist cover to ensure any modifications are replaced or repaired as appropriate.
- Track/rally/race cover: If you plan to enter your Caterham or Westfield model into a track event, check the terms and conditions of your policy to ensure you will be covered.
While these cover features are well worth considering, you should still compare specialist deals to those from conventional insurers to ensure you’re getting value for money. Use a comparison website to compare quotes – the leading websites look at deals from more than 100 insurers including several specialist companies.
How can you bring the cost of Caterham and Westfield car insurance down?
By reducing the perceived risk of making a claim you can bring your insurance premiums down no matter what car you drive. Here are some tips:
- Drive safely: You could earn a no-claims bonus worth as much as 60 per cent off your premiums if you don’t make a claim for four or more years.
- Increase security: Look into modern security devices such as immobilisers, car alarms and tracking systems. Consult your insurer about which devices earn the largest discounts.
- Join an owners’ club: Many specialist insurers offer discounts if you join an owners’ or manufacturers’ club.
- Limit your mileage: If your Caterham or Westfield car is the second vehicle in your household and isn’t used on a daily basis you may be able to agree to a mileage limit that trims your premiums.
- Use of the vehicle: If you do only use your Caterham or Westfield for special occasions and not for commuting ensure your insurance company is aware of this as this can reduce your premiums.
- Park safely: Park your car in a locked garage overnight to reduce premiums.
- Raise your voluntary excess: The excess is your contribution to a claim – increasing it will usually lower premiums although it should be kept at a level you can comfortably afford.
- Take an advanced driving course: Some car insurance companies, and particularly specialist insurers, offer discounts if you prove your driving capabilities by completing an advanced course such as the IAM or Pass Plus.
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