Adrian Flux
Performance car insurance is getting cheaper, thanks to a new product launched by Adrian Flux Insurance. Flux says its new Performance Car scheme can chop premiums by up to 30%, and even more in some cases, meaning drivers will save several hundred pounds, every year. The company expects other insurers to follow suit, bringing down the cost of high performance car insurance.
"This is a sophisticated scheme that's designed to take into account many more variables to reduce the premium of high value, high performance motors," says Flux's Gerry Bucke. "Everything from the driver's age, experience and history to the car's security, where it's parked and so on. We also take into account limited mileage options - but these can be as high as 10,000 miles per year."
The Flux team came up with a practical way of packaging all these variables together into one insurance product, then Bucke approached a number of insurance underwriters with the concept. "We were pretty surprised when they gave the scheme the green light, but it's great news for anyone with a performance car," he says.
So what can you save under the new Flux scheme? Obviously rates vary enormously depending on postcode, but typical costs and savings for a 30-year-old male with a clean licence and six years NCB (no claims) could be:
Mercedes SLK ('97), 2295cc, value £10,000; typical rate £420;
Flux Performance Car rate: £275 - saving: £145 (35%)
Lotus Elise, 1800cc, value £10,000; typical rate: £367.50;
Flux Performance Car rate: £262.50 - saving: £105 (29%)
Subaru Impreza WRX SYi, 2000cc, value £20,000; typical rate £1130;
Flux Performance Car rate: £899.69 - saving: £230.31 (20%)
Porsche 911 Turbo S, 3600cc, with cat1/tracker, value £50,000; typical rate £675;
Flux Performance Car rate: £476.00 - saving: £199 (29%)
Lexus GS, 3000cc, value £15,000; typical rate £630;
Flux Performance Car rate: £559.75 - saving: £70.25 (11%)
Jaguar XK8, 4000cc, value £22,000; typical rate: £630;
Flux Performance Car rate: £487 - saving £143 (23%).
Could the same criteria be applied to other types of cars to give big discounts? "There's more variables with performance cars, and because the premiums tend to be higher there's more room for manoeuvre," says Bucke. "But we're looking into ways to apply the scheme to other types of cars."
Adrian Flux Product listing / Schemes
Private Motor Insurance
Young Driver
Female Driver
2 or more previous Accidents / Claims
2 or more driving convictions
Any Criminal conviction
Any driver with disability or medical condition
Any person who has had insurance refused / cancelled
Drivers over 75 years old
Channel Islands & Isle of Man covered
Non standard occupations i.e. Footballer, Actor etc
Kit Cars
Classic Cars
Imported cars, Japan, Australia etc
Left Hand Drive Cars
American Cars
Modified cars
Custom Cars
Hot Hatch Cars / High Performance
Military Vehicles
Camper vans
Vans used for pleasure
Motorhomes
Exotics cars, Ferrari etc
Cars over 20 years old
Mini’s & Beetles
High rated Areas
Wedding Cars
Limo’s
Driving Tuition
Van Insurance / Commercial Vehicle
Modified
American
Double Cabs Pick Ups
Grey Imported
Young Driver
2 or more previous Accidents / Claims
2 or more driving convictions
Any driver with disability or medical condition
Channel Islands & Isle of Man covered
Non standard occupations i.e. Market Trader etc
Motorbikes
Scooters
Sports Bikes
Custom bikes
Modified
Trikes
Quad’s
Classic Bikes
Harley Davidson’s
Grey imports
All Motorbikes
Household Insurance
Landlords / buy to let insurance
DSS / Student let property
Asylum seekers Let property
Landlords Contents
Blocks of Flats
Freeholder flats
Unoccupied property insurance
Holiday Homes in UK & Abroad
Shops with rented flats above
High Net Worth one million plus re – build
Listed buildings cover
Thatched property
Previous Subsidence Claims
Previous Flood claims
2 or more previous claims
Criminal Convictions
Bed & Breakfast Property
Clients who work from home
Non Standard construction
Previous Bankrupts
Chalets
In general we quote on all Motor & Home Risks if others won’t.
Visit: Adrian Flux
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