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Thread: LSV Insurance - for how long?

  1. #1

    Lightbulb LSV Insurance - for how long?

    ALSO POSTED AT TYP901

    Hi guys,

    Insurance has been spoken about more than once on this board (http://www.typ901.org/showthread.php?t=3796), and I think it might just hit the headlines again based on some first hand experience.

    We have been great supporters of LSV for quite some time now, with our largish stable of cars and everyday cars insured through them.

    However I received a letter and phone call last week saying that they would now not insure our cars, and as a result, they would no renew our policy. FWIW, our claims have been almost nil, and our premiums are large.

    A previous employee of Lumley (LSV) who now works for us at Porsche Insurance contacted some of his old clients and it seems that this is occurring with them also. There are some high profile customers that are either being given MASSIVE (around 70%) increases in their premiums, or told that their policy will not be renewed. Simply, it looks like LSV is reducing the size of its insurance portfolio and therefore risk. The effect to clients - increased premiums.

    So.... knowing what I now know, I thought I would put those that are with LSV on notice, saying that you may get a call, letter, or both, saying that your premium has gone up, or you policy will not be renewed.

    As I have previously disclosed, I am the GM for Porsche Financial Services Australia, and we operate Porsche Insurance. In light of the developments with Lumley's, we are rapidly developing an exclusive Porsche Club Insurance policy for Porsche club member ONLY, and this will include TYP901 members / Early 911S Members based in Australia. Porsche Insurance has the key underwriters across all sectors (motor, marine, home, business insurance) who offer some of the best policy benefits in the business, who are for the most part, not available to the public direct.

    I'm keen to find out if any others have similar a similar response from Lumley's yet, and if members might be interested in giving Porsche Insurance a go for a quote on their business?
    Alex Webster

    1967 911S Sunroof - RHD
    1969 911E - LHD - Historic Racecar
    1975 911 Carrera 2.7 MFI - RHD - Historic Racecar

    My historic racing videos - www.youtube.com/aewebster

  2. #2
    Senior Member
    Join Date
    Jul 2004
    Location
    Sydney, Australia
    Posts
    642
    interesting Alex
    I renewed with Lumley as of 1 August, with no price increase (one of my cars is insured with them)

    Look forward to hearing about your new insurance policy in due course !
    Last edited by pgxif; 08-04-2012 at 04:33 AM.
    Paul

    1969 ex-South African RHD Tangerine 911T . 1970 ex-Southern Californian LHD Conda 911T 1955 Series 1 86" Land Rover (original Australian CKD … very slowly re-building) 1987 W124 230e
    (long term paid up member)

  3. #3
    Senior Member
    Join Date
    Feb 2005
    Location
    Melbourne, Australia
    Posts
    624
    Alex,

    I'm not with Lumleys - but woud be interested in giving Porsche another go.

    I got a quote some time ago - but didn't proceed. The Porsche club member type policy appeals to me, and if its in my interests am always happy to support Porsche.

  4. #4
    Hi Paul/Justin,

    email me at alex.webster@porsche.com.au and I will arrange for Joe to contact you from our Porsche Insurance team. We have inundated with enquiry since I have posted here, on typ901 and Porsche Forum. Sorry if the turnaround time is a little slower than anticipated.

    Regards,
    Alex
    Alex Webster

    1967 911S Sunroof - RHD
    1969 911E - LHD - Historic Racecar
    1975 911 Carrera 2.7 MFI - RHD - Historic Racecar

    My historic racing videos - www.youtube.com/aewebster

  5. #5
    Senior Member
    Join Date
    Jul 2004
    Location
    Sydney, Australia
    Posts
    642
    Porsche Insurance have been good, and i've moved one of my cars from Shannons, with a significant reduction in premium
    Thanks for your help Alex
    Paul

    1969 ex-South African RHD Tangerine 911T . 1970 ex-Southern Californian LHD Conda 911T 1955 Series 1 86" Land Rover (original Australian CKD … very slowly re-building) 1987 W124 230e
    (long term paid up member)

  6. #6
    Hi Paul,

    Glad we could help out. We are in the final stages now of putting together the 'Club' package.

    For any others out there needing a comparison quote, please feel to contact me. Happy to help other club members.
    Alex Webster

    1967 911S Sunroof - RHD
    1969 911E - LHD - Historic Racecar
    1975 911 Carrera 2.7 MFI - RHD - Historic Racecar

    My historic racing videos - www.youtube.com/aewebster

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