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auto_god
Senior Forum User
Joined: Wed Sep 03, 2014 8:59 pm Posts: 303 Location: Barrie
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Lant Insurance - Club Sponsor
This winter I've been shopping around for classic car insurance and as Lant is a sponsor went on their website for a quote which was quite attractive.
In reading the fine print I came across "** Occasional pleasure use does not include daily driving to and from work or school, routine shopping, etc.". Due to where I work, this concerns me. I work at a very large retailer & while I don't drive my car there everyday, if I get up in the morning and its sunny & beautiful out, the t tops are coming out and it is gonna be a glorious trip to work that day!! Given where I work there would really only be 1 of 2 reasons to be there (working or shopping), both of which are on Lant's naughty list. My main concern is that if something were to happen to the car while at work, I don't want to be in a position where my claim would be denied due to where it happened.
With all that in mind I'm looking to get some feedback from people who are with Lant, or may have possibly already posed this question to them. I'd rather do some homework now & make an informed decision than make a quick decision and regret the ramifications later!
In the end, if it winds up that the use of my vehicle becomes too restricted, the attractive premiums aren't worth it to me.
Anyone with some insight?
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Sun Feb 26, 2017 8:52 am |
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flame
CCFBG Club Member
Joined: Fri Mar 03, 2006 8:52 pm Posts: 1164 Location: Drayton
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Re: Lant Insurance - Club Sponsor
They make you sign a form with the restrictions listed on it. I have checked out a few other companies and they all have restrictions which is how they can offer the lower premiums by minimizing the risk. You could have it added to your regular policy with an agreed value clause because chances are it's worth a lot more than they would want to pay.
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Sun Feb 26, 2017 11:46 am |
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auto_god
Senior Forum User
Joined: Wed Sep 03, 2014 8:59 pm Posts: 303 Location: Barrie
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Re: Lant Insurance - Club Sponsor
So with that in mind has anyone had an instance with a classic car insurance policy that their claim was denied on the grounds of where the incident occurred?
Its not that I think anything is likely to happen to my car, or that its some super valuable piece, I just don't know that saving what really amounts to about $300 year merits risking coverage in the event of an incident.
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Sun Feb 26, 2017 12:01 pm |
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lotsatas
CCFBG Club Member
Joined: Sat Jun 04, 2005 6:58 pm Posts: 1291 Location: Waterloo
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Re: Lant Insurance - Club Sponsor
Not worth the risk for $300.00 in my opinion It will likely depend on who you get as an adjuster if anything happens. If the guy does nor really care it will likely not be a problem, but if you get a "company man" he may try to prove his worth by asking people at work if you ever drive the car to work. Or if the accident happens right outside of work it might be hard trying to justify why your car is near your work.
This is not the same but is a true story about how far insurance companies will go.... Frank who was 19 at the time bought himself a pickup truck as a daily driver. The insurance premiums were huge $$$$$ for him at that age, so they put the truck in his dad's name and he was added as an occasional driver. Some time later an accident occurs while Frank is driving his truck. He calls the insurance company to make a claim. An adjuster is sent out and that is when all hell breaks loose. To make a long story shorter, the adjuster proves in court that he bought and paid for the truck with his own money but put it in his dads name to save on insurance premiums. They also proved he drove the truck nearly 100% of the time by interviewing people at his work and his friends. The court sided with the insurance company and he not only has his claim denied, but is charged with fraud. It cost him $62,000.00 by the time it was all done.
Moral....you better make sure whatever you are cheating at is worth it. Or don't get caught !
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Mon Feb 27, 2017 11:10 am |
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auto_god
Senior Forum User
Joined: Wed Sep 03, 2014 8:59 pm Posts: 303 Location: Barrie
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Re: Lant Insurance - Club Sponsor
That is kind of my predicament. I may only drive the car to work 3 or 4 times in a month, but there is no way to prove that should an incident occur.
I'm honestly leaning towards just maintaining the policy I've had on it the last 2 summers & have no concerns about where or when I chose to drive it. It just isn't my nature to try to "cheat" the system and get away with cheap premiums without abiding by the terms of our agreement, and then cry foul when my claim gets denied.
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Mon Feb 27, 2017 4:42 pm |
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Zdrrguy
Administrator
Joined: Thu Mar 17, 2005 8:34 pm Posts: 5850 Location: Brampton, Ontario
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Re: Lant Insurance - Club Sponsor
We had the 91 with Lant for years, it was different for me because the 91 was overdone and we only drove it for what it was insured for and barely then. for $260/year the risk was not worth loosing.
Buy a shitbox dd and drive it to work.
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Mon Feb 27, 2017 10:50 pm |
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Daz
CCFBG Club Member
Joined: Sat Mar 19, 2005 8:15 am Posts: 3233 Location: Mississauga
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Re: Lant Insurance - Club Sponsor
I'm not sure if Hagerty is the same company but the agent I spoke with said that its OK to drive the car to work "from time to time". Try them.
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Tue Feb 28, 2017 9:36 am |
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88GTA
Forum User
Joined: Thu Sep 03, 2009 12:21 pm Posts: 134 Location: London
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Re: Lant Insurance - Club Sponsor
Hagerty told me same ^^^^^ just can't be your daily.
_________________1988 GTA 1989 20th Anniversary TTA
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Tue Feb 28, 2017 9:42 pm |
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lotsatas
CCFBG Club Member
Joined: Sat Jun 04, 2005 6:58 pm Posts: 1291 Location: Waterloo
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Re: Lant Insurance - Club Sponsor
Hagerty and Lant are the same company.
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Wed Mar 01, 2017 11:10 am |
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lotsatas
CCFBG Club Member
Joined: Sat Jun 04, 2005 6:58 pm Posts: 1291 Location: Waterloo
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Re: Lant Insurance - Club Sponsor
[quoteIt just isn't my nature to try to "cheat" the system and get away with cheap premiums without abiding by the terms of our agreement, and then cry foul when my claim gets denied.
][/quote]
Join the club............that is why I was charged with tax evasion a couple years ago. Trying to pay less tax on a car I bought using a fake invoice. I got caught ! It cost me a huge fine to settle out of court. Definitely cost me way more than paying what was due up front. I won't try it ever again. Not worth it.
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Wed Mar 01, 2017 11:20 am |
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auto_god
Senior Forum User
Joined: Wed Sep 03, 2014 8:59 pm Posts: 303 Location: Barrie
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Re: Lant Insurance - Club Sponsor
[][/quote] Join the club............that is why I was charged with tax evasion a couple years ago. Trying to pay less tax on a car I bought using a fake invoice. I got caught ! It cost me a huge fine to settle out of court. Definitely cost me way more than paying what was due up front. I won't try it ever again. Not worth it.[/quote]
I'm going to give them a call & pose the questions to a broker & get an answer before I make a decision.
Out of curiosity LOTSTAS, ( & you don't have to answer this is you'd prefer not to).......how did you get caught?? I realize it isn't any of my business, but there may be a lesson for all of us to learn from.
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Wed Mar 01, 2017 8:31 pm |
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6speedIROC
Senior Forum User
Joined: Mon Feb 01, 2010 12:26 pm Posts: 220 Location: Ottawa
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Re: Lant Insurance - Club Sponsor
I have been told by Lant and my current collector insurer Echelon that an occasional drive to work will not be a problem. I don't think they will put it in writing, but said it would be OK. You are allowed to take it to car related events, and of course into the repair shop. Grocery store, or shopping anywhere is a big no no.
I'd be more concerned with the fact that most accidents happen during daily commutes..
If you do get caught with insuarnce fraud it will be on your file for a long time..with all the insurnace companies as they share info. Like getting caught at the border...you'll get flagged for the rest of your life.
_________________86 IROC LQ4/T56/3.50 8.8 (next step..TC76) Build thread: http://ls1tech.com/forums/conversions-hybrids/1819001-1986-iroc-turbo-lq4-t56-build-ac.htmlFormerly 95 LT1 [LE2.2]/T56/4.11 9 Bolt..12.6@114MPH
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Thu Mar 02, 2017 1:33 pm |
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lotsatas
CCFBG Club Member
Joined: Sat Jun 04, 2005 6:58 pm Posts: 1291 Location: Waterloo
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Re: Lant Insurance - Club Sponsor
[quote Out of curiosity LOTSTAS, ( & you don't have to answer this is you'd prefer not to).......how did you get caught?? I realize it isn't any of my business, but there may be a lesson for all of us to learn from.][/quote]
I bought car from a guy who said he would give me a false receipt so I could save on the tax dollars. Revenue Canada called the house of the owner because they suspected the price was too cheap on the invoice I provided. His wife answered and they asked her if her husband sold me a car to which she replied yes. They then proceeded to ask her how much he sold it for. When pushed enough, she fessed up to Revenue Canada how much he sold it for. It's all history from there.
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Thu Mar 02, 2017 4:13 pm |
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auto_god
Senior Forum User
Joined: Wed Sep 03, 2014 8:59 pm Posts: 303 Location: Barrie
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Re: Lant Insurance - Club Sponsor
"I bought car from a guy who said he would give me a false receipt so I could save on the tax dollars. Revenue Canada called the house of the owner because they suspected the price was too cheap on the invoice I provided. His wife answered and they asked her if her husband sold me a car to which she replied yes. They then proceeded to ask her how much he sold it for. When pushed enough, she fessed up to Revenue Canada how much he sold it for. It's all history from there."
Wow! That's almost unbelievable crazy!
Again, none of my business (so don't feel compelled to reply), but how much of a discrepancy are we talking about to prompt Revenue Canada to flag the transaction and start making phone calls?
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Thu Mar 02, 2017 9:24 pm |
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lotsatas
CCFBG Club Member
Joined: Sat Jun 04, 2005 6:58 pm Posts: 1291 Location: Waterloo
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Re: Lant Insurance - Club Sponsor
[quoteAgain, none of my business (so don't feel compelled to reply), but how much of a discrepancy are we talking about to prompt Revenue Canada to flag the transaction and start making phone calls?][/quote]
I paid $16,000 for the car but used a $10,000.00 fake invoice.
I had to pay the amounts I cheated on plus a penalty. I think that was about $1,000.00 in total. Then I settled out of court for $3,200.00 as the easy way out on my tax evasion charge. I had no idea what my costs would be if I went to court, and it appeared to me that I would likely lose anyway, because they had proof I lied. And they would have also seized my car until the court case was settled. So by trying to save $750.00 in tax it cost me $4,200.00 I have no idea how they knew what the car was worth or why they thought the amount I claimed was bogus. I think I got a great deal on the car, so maybe it was worth more than what I paid.
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Fri Mar 03, 2017 9:36 am |
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