I'm currently with Adrian Flux, but have a renewal quote to compare to a new A-Plan quote. Both cover my 2020 310R for limited mileage and 5 track days. A-Plan has a good reputation on here, and having Carlie on-hand is a bonus too. The A-Plan quote is also a bit cheaper (£340 vs £370), although it doesn't include agreed value like the Adrian Flux policy.
Anyway, a couple of things concern me about the A-Plan quote:
- It's underwritten by Markerstudy (who have a terrible reputation)
- The lack of agreed value cover (apparently my car is too new)
What are people's thoughts on the above?
The other issue which might make this a moot question of course is that the A-Plan track day policy currently states that it only covers track days organised by the ATDO, which doesn't exist anymore. A-Plan said they would look into into getting the wording changed, but with the current wording it's basically useless.
I was with Flux and paid a bit more for A Plan because of their good reputation on here. I too asked A Plan about agreed value and apparently it isn't all what it seems ie you may not get paid-out the full agreed value. I am not sure but they wouldn't provide agreed value for my 2017 310R. I am also unsure about Markerstudy. On balance I would be equally happy with either.
Firstly I'm slightly bemused as to why agreed value cover cannot be provided for "newish" cars in both your cases via APlan.
I bought my 420R in 2018 and replaced it with a 620R(2018) and have had no problem in getting agreed value cover via Footman James (broker) with Ageas acting as underwriter/insurer, for either car over the subsequent years of ownership.
Secondly I don't understand the not paying agreed value in the case of a total loss (e.g the car is stolen, never recovered or beyond economic repair) If the agree value is stated in the Policy Schedule then my simple understanding is that the underwriter/insurer has accepted that value, hence the requirement of having to have an independent evaluation (Guy Munday etc.) to ratify the value of the car at commencement of the insurance period being covered.
The only way I could see that the underwriter/insurer could get out of paying the agreed value for total loss is if the insurer could prove misrepresentation or withholding of "Material Facts" at the time the policy was taken out.
Hopefully Carlie will be along to explain/correct any misunderstanding on my part (it's been a while since I was involved in the insurance world )
UPDATE:- Having just had a quick look at some of the Motor Policy Documentation on the MarkerStudy website I could only find references to market value, none for agreed value, which obviously could explain why that option is not apparently available
I flagged up the ATDO issue to APlan but was not aware that the 5 track days I have on my policy are not covered until the wording is changed? Is this what A Plan have said as when I booked Goodwood they confirmed I will be covered.
I'm just saying that with the current wording on the policy it's not possible to meet their requirements for cover. When I discussed it whilst getting a quote they said they'd look into getting it changed. I've no idea what the timescales for that might be though.
Gulf Racing 310R
When booking a TD I specifically state who it is booked with and A Plan reply with a confirmation of cover. So that is something but I must admit this is leaving me unsure as the requirement on my part will be not meet all of the conditions of the policy.
Exactly - I'm not comfortable having policy documentation that says I'm not covered either.
I should say that Adrian Flux also has a requirement for ATDO membership, but crucially their policy wording (underwritten by Trinity Lane) also says it covers club days and manufacturer days, which at least covers all C&L7C and Caterham Cars organised days.
All of these policies need updating to remove the ATDO requirement. I told Adrian Flux over a year ago and my renewal this month still has the same wording
I've emailed A-Plan and asked if they can use a different underwriter to get around the issue as I don't expect the wording will get changed in time for me. That would solve the Markerstudy concern too. I'm still not sure about not having agreed value though. If my 310R gets written off I want £35k for it which is what the three cars currently in stock at Caterham Cars are advertised for (that's only £2k less than I bought it for after three years).
Gulf Racing 310R
I am not happy about it either. Surely it can't be hard to sort out, or at least to send a letter saying we are covered in the interim period. Clarity is what is needed
A-Plan say they can't offer any other underwriters for track cover.
I tried REIS, who do have perfectly good track cover wording and offer agreed value, but they came in at £540!
Looks like I'll be renewing with Adrian Flux for £370 then...
Gulf Racing 310R
Thanks Tim. As I am insured with A Plan I need to know if I am (and have been!) insured for the track days. I will write to them.
A-Plan have replied about the ATDO issue. They have confirmed track days are are included in the policy as normal. Usual stuff about needing marshals and no timing but otherwise the cover remains as it was. I will keep a copy of the correspondence.