Insuring a 7 is nowhere near as expensive as you'd first imagine, especially when you bear in mind the performance available.
Prices can start from as low as £100 per year, though the majority of people have premiums of between £2-300 per year.
Factors that have significant bearing on your premium are as follows, in no particular order:
Mileage - limiting mileage seriously reduces your premium, especially if you have a serious limit. Typical limit levels used are 2,500 miles, 3,000 miles, 5,000 miles, 7,500 miles and 10,000 miles. If you can restrain yourself this is a good way of saving money, and many insurers will only charge you the difference between two premium levels should you need to increase the mileage (but tell them before you break the limit!).
Experience with 7s. Yes, some insurers will reduce your premium if you've got several years' 7ing under your belt.
Spec. of car is usually less important than the value. Some policies will run agreed replacement value.
Then the usual insurer things:
No claims bonus
Garaging the car
Age of driver
Home location
Typical premiums are (more will be added as they are received)
Detail
Cost
30 yr old, 4yrs NCB, 7 owner for 4.5yrs, RH5 area, 7.5k miles, secure parking, 200bhp K-series value 25k
£230 fully comp, 100xs
Contact Details
The following are the insurers most used by 7 owners.
Egger Lawson
MSM
Osbourne and Sons
Aon
Hillhouse Hammond
Trackday Cover
Most policies do not cover track days as standard, and it is strongly advised that the "not explicitly not covered" loophole is not used and that you double check with your insurers before assuming you have cover.
Osbourne and Sons are one of few insurers who include track day cover (technically it's an extra as you can opt not to have it at less cost).
Stand alone track cover is available though isn't cheap (and gets more expensive by the minute - obviously claims are getting more frequent). Examples of providers of this cover are
Competition Car Insurance
Logo is the property of Lotus Seven Club,
unauthorised use is strictly forbidden. All other products mentioned
are registered trademarks or trademarks of their respective companies.
Questions or problems regarding this web site should be directed to
sitemanager@lotus7club.com. Copyright 1983-2010 Lotus Seven Club.
All rights reserved.
Lotus Seven Club is the trading name of Seven Club Ltd.,
(Company Registration Number 3880568) whose registered office is
Horsingtons Yard, Tiverton Place, Lion Street, Abergavenny NP7 5PN
