With prices rising everywhere I thought it might be useful, particularly for newcomers to MX5 ownership, if we discussed some of the options for insuring our MX5’s and how cost effective they are.
Options like classic and multi car insurance as well as the ‘standard’ motor insurance policy.
Hopefully anyone reading this thread understands car insurance is worked out on the risk relating to your particular car, you and your personal circumstances.
For example your age, accident and conviction history, where you live, the age/model of MX5, modifications, other drivers, etc.
Added to that there are other discounting factors like NCD (No Claims Discount), an agreed excess, your occupation, marital status, etc.
So if you decide to post anything about a recent quote or policy price, it won’t have much validity without some ‘basic’ context details. Some of those details (like your postcode) you definitely shouldn’t give out, for security reasons, in a public forum. So I propose we only offer 4 pieces of information and we make some general assumptions about the rest.
- The age, model and engine size of your MX5.
- Your age. If you are not comfortable with being precise, use an age range of 5 years, eg 50-55.
- Your general location, eg your county, perhaps sharing if you are in a city (which affects premiums quite substantially).
- The type of policy and cover you have, eg compressive, classic car, multi car, standard, etc.
All other details we’ll make some general assumptions about. For example you don’t have any accidents or convictions, you have a reasonably ordinary (ie you’re not a pop star) occupation, the car is unmodified, you have full NCD, there’s at least 2 cars in your household, you don’t cover an excessive annual mileage (ie over 10,000), it’s left on your drive at night, excess between £100-250, etc.
Even if these assumptions are wrong for you personally, we’re mainly trying to work out the better insurance deals out there. So if you do have zero NCD, 5 speeding fines and 3 accidents to your name, you probably won’t be in a hurry to reveal your annual premium here:-)
So my ballpark details are:
Car: 2011 2.0l NC
Age range: 50-55
Location: Surrey, near Farnborough
Insurance policy: Standard, comprehensive
My annual cost this year is £158 with Shielas Wheels.
For a standard car policy I thought that was pretty good, particularly since we only have 3 years NCD on the MX5.
On that note I spent several years insuring my last MX5 (1999 1.8 NB.) on a classic car policy where annual premiums were around £120-170. But that policy didn’t accrue NCD.
