Lynbrook Insurance
The bespoke underwriters have some clever ideas to tempt classic owners
Lynbrook Insurance, which is celebrating its 50th anniversary this year, makes a point of doing things a little differently from the larger insurance firms. Offering a range of vehicle policies, the Lancashire company resists spending money on lavish advertising, and offers customers some pretty radical features tailored towards hands-on owners. PC spoke to Martin Pagett, the man in charge, to find out more about what makes his business tick.
‘I joined this little firm back in 1990, having previously worked with larger insurance companies. We didn’t insure classic vehicles back then, but we needed to move the business on. I already had an interest in older cars and motorcycles, so I elected to put together the policy that I wanted as an owner and a user, not as an insurer – something that would appeal to the hands-on person, rather than exotic vehicle owners.’ More than three decades later, Martin’s very first classic car customer is still insured with Lynbrook.
One of the most unique features, then and now, is the self-repair option, which reimburses the owner for their own time if they choose to oversee and/or repair their car themselves. ‘We pay for any parts you purchase, plus the cost of any subcontracted work you agree to – and also make a financial contribution to you in recognition of the time you have been involved,’ says Martin. ‘It means the policy holder can do the work to a standard they’re happy with, without feeling like they’re just working for the benefit of the insurance company. I’m actually using the feature myself at the moment, to repair some damage on an MG Midget that I’ve had for about 50 years.’
Lynbrook’s motor policies also cover spare parts and accessories being stored at home, worth up to £500 – with greater values also being negotiable. Martin explained how the idea came when a customer rang up after discovering that his Jaguar’s cylinder head, which was in his loft above his bedroom, was not insured through his home insurance. Such cover is usually
excluded in regular household insurance.
Other features include an option for unused mileage within an 8000-mile annual quota to count towards a discount for the following year’s policy. Lynbrook also recently started offering one of the UK’S only comprehensive trailer policies for private individuals (rather than businesses) – handy for those wanting to trailer their classic car or motorbike. ‘We consider ourselves to be bespoke insurance underwriters,’ says Martin. ‘We would never feature on a comparison site, as we need to speak to the customer to tailor the policy for them. Quality is the keyword, but the price is not forgotten either.’
Contact
lynbrookins.co.uk, lynbrook@ vantageinsurance.co.uk,
0800 470 0553 (for quotes and policy enquiries).