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Aug 24th, 2023
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Joined: Mar 2010
Posts: 3,581 Likes: 85
Moderate or good, occasionally poor Talk Morgan Addict
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Moderate or good, occasionally poor Talk Morgan Addict
Joined: Mar 2010
Posts: 3,581 Likes: 85 |
... I fear that it will only encourage the other companies to raise their rates towards the “approved” companies rates and the whole Morgan community could end up paying more in years to come. The insurance industry is extremely competitive, I don't see any reason to conclude that companies will decide to increase their prices to compete! Insurance has never been a factor in MSCC membership for me and I'm struggling to understand why people are getting so upset about this. In 17 years I've only used an MSCC-approved insurer - Heritage as it happens - for a short period. Neither Gott & Wynn nor Headly ever gave me a competitive quote. There are many classic insurance companies out there after our business, I've been with RH for several years and they have been excellent. If the one in Miscellany doesn't quote you happy there are plenty of others.
2011 Morgan 4/4
1932 Austin 7 Chummy
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Joined: Mar 2009
Posts: 3,665 Likes: 43
Talk Morgan Addict
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Talk Morgan Addict
Joined: Mar 2009
Posts: 3,665 Likes: 43 |
... I fear that it will only encourage the other companies to raise their rates towards the “approved” companies rates and the whole Morgan community could end up paying more in years to come. The insurance industry is extremely competitive, I don't see any reason to conclude that companies will decide to increase their prices to compete! Insurance has never been a factor in MSCC membership for me and I'm struggling to understand why people are getting so upset about this. In 17 years I've only used an MSCC-approved insurer - Heritage as it happens - for a short period. Neither Gott & Wynn nor Headly ever gave me a competitive quote. There are many classic insurance companies out there after our business, I've been with RH for several years and they have been excellent. If the one in Miscellany doesn't quote you happy there are plenty of others. It seems reasonable to me to be upset that a marque cub that charges for membership wishes to restrict its members exposure to competitive rates. After all, it is presented as a benefit!
Last edited by nick w; 31/07/24 01:52 PM.
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1 member likes this:
CooperMan |
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Joined: Nov 2015
Posts: 7,895 Likes: 241
Just barreling along Talk Morgan Guru
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Just barreling along Talk Morgan Guru
Joined: Nov 2015
Posts: 7,895 Likes: 241 |
I just grabbed a random old mag out of my library, May 2013 with a lovely front cover artwork by Valentin Tanase
Back then there were 7 ads by Insurers, most also half page, over 12 months that's some significant revenue
In more recent years (don't save 'em now) I recall an even greater number inc the likes of Adrian Flux etc, I wonder if the no brainer took that lost revenue into account
Jon M
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Joined: Sep 2016
Posts: 997 Likes: 23
Talk Morgan Regular
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Talk Morgan Regular
Joined: Sep 2016
Posts: 997 Likes: 23 |
Insurance has never been a factor in MSCC membership for me and I'm struggling to understand why people are getting so upset about this. In 17 years I've only used an MSCC-approved insurer - Heritage as it happens - for a short period. Neither Gott & Wynn nor Headly ever gave me a competitive quote.
There are many classic insurance companies out there after our business, I've been with RH for several years and they have been excellent. If the one in Miscellany doesn't quote you happy there are plenty of others. That mirrors my experience. I've received lower quotes outside of the usual Morgan specialist insurers. I've recently paid £230 for my 1995 Plus 8. Fully comprehensive with European Breakdown/recovery and £100k legal expenses. 3k miles. 6 points on license. That's with Classicline, Heritage were very similar but as I've been with Classicline before I stuck with them.
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Joined: Mar 2010
Posts: 3,581 Likes: 85
Moderate or good, occasionally poor Talk Morgan Addict
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Moderate or good, occasionally poor Talk Morgan Addict
Joined: Mar 2010
Posts: 3,581 Likes: 85 |
It seems reasonable to me to be upset that a marque cub that charges for membership wishes to restrict its members exposure to competitive rates. After all, it is presented as a benefit! I think restricting is an overstatement. Nobody has to use the club's insurer, as many of us don't. Looking back at the archive on the MSCC website confirms Jon's comment above, there are ads for seven insurers in the oldest Miscellany (Sept 2016); most of them advertising a club discount and four claiming to be "MSCC approved". I remember when I joined the club I found this situation confusing. Every other club I'm a member of has a single "approved" insurer: For Austin 7 it's RH, VSCC is Hagerty. I see the MGOC use Adrian Flux. Whether the MSCC has done the right deal with the best partner is debatable, but having just one approved insurer seems to me a "no brainer".
2011 Morgan 4/4
1932 Austin 7 Chummy
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Joined: Jun 2015
Posts: 1,952 Likes: 41
Talk Morgan Enthusiast
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Talk Morgan Enthusiast
Joined: Jun 2015
Posts: 1,952 Likes: 41 |
If the single approved insurer offered even a slightly competitive rate, then I don't think there would be as much of an issue. After all, one might reasonably expect that a motoring club would offer a distinct advantage to its members, but from all the many quotes I have seen, the approved insurer is offering quotes at anything from 40% to 100% above the other more commonly used providers.
Too true, we can shop around and so we do, although those new to the marque may go in blind and assume that as it is “MSCC approved” it must be the best around!
However, my concern still rests with the fact that as already commented, insurance is indeed a very competitive industry.
So, if I were an insurance company executive, I would be constantly looking at the competition and try to attract business to my company by offering a product that is as good as, and cheaper than my competitors, and if I can improve profitability, I have done my job well.
In the case of Morgan, I can see that their club approved insurer has rates MUCH higher than me, so looks like I can jack up my rates by 10%/20%/30% and still be competitive. If all insurance companies take a similar stance, (and why not…) then rates would rise for all Morgan owners. Shopping around would still be a competitive process but the bar would have risen to our detriment!
I don't expect everyone to agree, as only time will tell if my view has any substance or not.
Doug
2011 Plus 4 in Rich Maroon
1972 750 “ComDom” sprinter
1958 Triton 650
1992 Triumph Trophy 900
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Joined: Dec 2009
Posts: 35,776 Likes: 468
Tricky Dicky Member of the Inner Circle
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Tricky Dicky Member of the Inner Circle
Joined: Dec 2009
Posts: 35,776 Likes: 468 |
TBH if one has the mental acumen to be able to buy and run a Morgan one is highly unlikely not to source your own insurance deal  Having spent a lifetime of ignoring being told or advised what to do explains why I never joined the MSCC or any other Club. the Devon Association of Ringers being the exception.
2009 4/4 Henrietta
1999 Indigo Blue +8
2009 4/4 Sport Green prev
1993 Connaught Green +8 prev
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Joined: Mar 2009
Posts: 3,665 Likes: 43
Talk Morgan Addict
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Talk Morgan Addict
Joined: Mar 2009
Posts: 3,665 Likes: 43 |
"but having just one approved insurer seems to me a "no brainer"."
Absolutely sums it up for me....though I think I'm interpreting the phrase differently.....😀
How on earth can I hope you will pay to join my club when the benefit I offer you will cost you a considerable lot more than if you simply ring your local insurance broker.
My only experience with other car clubs is with the MGOC who's officers went to proper lengths to make sure their members acually benefited from the club's benefits.
The mscc position on this just looks like arrogant negligence to me.
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Joined: Nov 2018
Posts: 6,057 Likes: 160
Talk Morgan Sage
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Talk Morgan Sage
Joined: Nov 2018
Posts: 6,057 Likes: 160 |
This was from last months Miscellany. I've highlighted some interesting bits The new MSCC Insurance scheme with Peter James Insurance has now been live for 3 months.
From the start we have seen a steady flow of requests for quotes and we have achieved a very positive conversion rate to active policies. It is one of the key objectives of this scheme to provide a competitive quote across the entire range of members’ cars. This of course, is a very wide spectrum of vehicles in terms of ages, values (and number of wheels) and presents a challenge in the context of a classic car policy. What this means is that the Brokers (Peter James in our scheme) and their Underwriters have to structure their pricing to reflect that complete profile of the business coming to them.
Over the first few months of the scheme we have received a steady flow of feedback directly from a number members. This feedback, especially when it says ‘you are not competitive’, is extremely helpful to us. Looking at these responses we have been able to see the areas where we have probably not predicted the profile correctly, and then we have been able adjust the scheme to make those areas more competitive. What this has meant is that for some members we have not been able to win their business. We regret that situation, but, we are adjusting and so the scheme will evolve over time. Car Insurance generally is an extremely competitive market and the general advice is that you should always shop around. If we were not able to meet your needs this year then we hope to have an opportunity to quote for you in the future. One incidental impact of the new scheme is that former scheme providers may have felt it prudent to adjust their own rates to retain business, that too is a benefit to members.
As I have said in previous pieces, the commercial incentive and the commercial risk of this scheme lies with Peter James. Providing good value, comprehensive and unique benefits to the maximum number of members is the goal and they are working hard to achieve that. Please continue to provide the feedback (positive as well as negative), it is important.
1972 4/4 4 seater, 1981 MGB GT
1984 Harley Davidson Electra Glide, 1990 Kawasaki ZX10
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Joined: Sep 2016
Posts: 997 Likes: 23
Talk Morgan Regular
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Talk Morgan Regular
Joined: Sep 2016
Posts: 997 Likes: 23 |
Update on my quote, G & W not to bad but still higher that Finch by £40, my renewal with Finch is £380 ( that includes £20 renewal fee) 5000 miles, plus valuation of £42000.
Just been on the Classic Line, quoting me £298, 5000 miles, Valuation of £4200, (but either get in value done by a independent valuer, or there in house valuer ) So G&W were £120 more expensive than Classicline ? Does the G&W policy include European Breakdown/recovery and £100k legal expenses, both of which are standard with Classicline ? Given the number of forum members that use/used G&W or Headley, I assume they were recommended insurers at some time in the past, despite not offering competitive rates ? Perhaps nothing has really changed
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