The calculator and the quote form below are in Dutch. Prefer to do this in English? Email info@finassverzekert.nl or call 072 - 509 24 56 and we will take it from there.
Work out your own premium with the calculator.
Enter your details; you will receive a proposal within one working day.
We compare the offerings of several insurers
An adviser checks whether the cover suits your situation
A premium indication, not personal advice. Prefer to talk it through? Call 072 - 509 24 56.
In brief
The chassis is the decisive factor here. Models such as the Elise, Exige and Emira are built around an extruded aluminium frame whose sections are bonded and riveted. A structure like that cannot be straightened like a welded steel floor pan. If the frame is damaged, replacing a section or the complete chassis is the only technically justifiable route. As a result a collision that looks limited in a photograph can still lead to a total loss.
The second point is use. A considerable proportion of Lotus drivers take part in track days, touring runs and club events. Driving on a circuit is excluded under practically every ordinary policy, including an instruction or introduction day and even where no times are taken. Separate day cover can sometimes be arranged, but always in advance. Reporting afterwards that the damage arose on a track leads to refusal of the own-damage part.
Modifications are common with this make: different suspension, a roll bar, bucket seats with a harness, a supercharger or a modified exhaust. Modifications of that kind change the risk accepted and must appear on the policy schedule. An undeclared change in power falls under the duty of disclosure in Article 7:928 of the Dutch Civil Code and can affect the payout through Article 7:930 of the Dutch Civil Code. See also comprehensive or third-party, fire and theft for the choice of cover.
The structure of the cover in three parts, with an overview per situation below.
Compulsory
Third-party liability
Damage you cause to others.
Required by law
As long as the registration is in your name
Suspend the registration when not in use
Third-party liability plus
Third-party, fire and theft
Causes beyond your control.
Fire and storm
Theft
Windscreen damage
Comprehensive cover
Comprehensive
Including damage you cause yourself.
Own fault
Vandalism
Replacement-as-new period
What is covered
Situation
Third-party liability
Third-party, fire and theft
Comprehensive
Damage to the other party
Yes
Yes
Yes
Theft
No
Yes
Yes
Fire and storm
No
Yes
Yes
Damage you cause yourself
No
No
Yes
Wear and mechanical defects
No
No
No
Driving without a valid licence
No
No
No
This overview is general in nature and is not personal advice. What is actually covered, including exclusions, limits and the excess, is set out in the policy conditions and the insurance card (verzekeringskaart) of the insurer; you receive both before you take out cover. Taking out cover without advice? Then read what execution only means for you.
Where things go wrong in practice
Four points that make the difference between a policy that pays out and one that does not.
A bonded chassis cannot be straightened
With a damaged aluminium frame, measuring it matters more than the visible bodywork. If the chassis is out of tolerance, replacement of a section or of the whole follows, with practically the entire car dismantled. The labour hours involved mount up quickly in relation to the value. After a loss, always have a chassis measurement carried out by a specialist first, before a repair estimate is made on the basis of the bodywork alone.
Track days: arrange it in advance or do not drive
Track days, sprint runs, club competitions and skill trials fall outside the standard cover. That applies to instruction laps and to sessions in which no times are taken as well. Separate day covers exist for own-damage on track; you take those out before you enter. Liability for damage to the track itself or to other participants is moreover often dealt with separately in the participants' regulations, outside your car policy.
Modifications belong on the policy schedule
Modifications that increase power, different suspension or wheel sizes and safety equipment such as a roll bar or harness change both the risk and the value. If the car appears on the policy as standard and it is not, there is an incorrect declaration. Moreover, parts not stated are usually not paid for when you claim. Have the modifications recorded and keep invoices and fitting certificates; that also forms the support for a valuation.
What is not covered
The following remain outside the cover: any form of use on a circuit or site where speed or skill is tested; wear and mechanical defects, including clutch and engine damage without a collision; damage to or caused by undeclared modifications; damage to the hood fabric of an open version through ageing; and damage during carriage on a trailer, which falls under the carrier's cover or separate transport cover.
What does your premium depend on?
Model and power-to-weight ratio — The low weight brings the weight class down, while the performance pushes the own-damage part up.
Declared modifications — Increases in power and suspension modifications are assessed and rated separately.
Annual mileage — Most examples cover little mileage, which can be turned to advantage with a low mileage band.
Storage and seasonal use — Locked storage and a winter break produce more favourable conditions.
Basis of value — Market value or an agreed value, depending on the model, the condition and the modifications fitted.
The driver's experience — Age, years of licence holding and no-claims years count heavily on light sports cars.
Insurers weigh these details differently. That is why comparing pays off.
How we arrange it
You request a quoteWe take stock of your situation, your risk and your wishes.
We compareseveral insurers, on premium as well as conditions.
You receive a proposalWith an explanation of the differences and the exclusions.
We arrange the switchIncluding cancellation, so there is no gap in cover.
Customers rate our service on four aspects: personal service, service delivery, availability and the outcome. The reviews are collected and published by NH1816 and come from customers who have actually taken out a policy with Finass Advies B.V. or reported a claim.
Because the car is light and its value therefore stays limited, while chassis damage is an expensive operation. The bonded aluminium frame cannot be straightened; a section or the whole chassis has to be replaced, with the car taken almost completely apart. The labour hours then quickly exceed the market value.
Can I insure circuit use?
Not on the ordinary policy. There are specialist day covers for own-damage during a track day, taken out per event and in advance. Note too that the track's participants' regulations often provide that damage to crash barriers and track equipment is at your expense; that does not fall under ordinary car insurance.
Do I have to declare a supercharger or different suspension?
Yes. Every modification that affects the power, the handling or the value belongs on the policy schedule. If you do not do that, the insured object differs from reality and the insurer can reduce the payout. Parts not declared are moreover usually not paid for at all when you claim.
Is a valuation worthwhile on a Lotus?
On a well-maintained example with documented modifications it is. Without a valuation the assessor judges the market value against comparable cars for sale, which for this make are few and vary widely. A valuation report fixes the value in advance and takes the modifications into account, so that the argument about the amount of the payout after a loss falls away.
Finass Verzekert is a trading name of Finass Advies B.V. We advise on and arrange non-life insurance on the basis of an objective analysis of several insurers, and receive commission for this from the insurer, which is included in the premium. You pay no separate advice fee. Before you take out cover, we establish your wishes and needs.
You will find our licence, KvK and Kifid details and our complaints procedure at the foot of every page.
