Lockton Insurance alternative

[David & Sue White]

I have been a loyal Lockton insurance customer for around 15 years and have always found their cover to be excellent. One of the major attractions has been the comprehensive policy benefits, including cover for any driver over 31yrs and track day events.

Today, however, I contacted them to obtain a quote to replace my current Levante Trofeo with another Levante Trofeo of virtually identical specification. The only notable differences are that the replacement vehicle is one year newer and has adaptive cruise control.

My current Levante was insured with Lockton in December 2025, but I have been advised that their underwriting arrangements have changed. The new underwriter will no longer allow modern Maseratis to be covered alongside classic and modern classic Maseratis on the same policy. As a result, a separate policy is now required for the modern car.

Unfortunately, this has resulted in a premium increase of more than 50% for what is the same vehicle. I paid £1600 for a year’s insurance in December which was bad enough and now I’m being asked for £2500!!!!  for the same cover.  If this remains the case, it appears that many modern Maserati owners may face similar increases when their policies come up for renewal.

I am currently speaking with Lockton in the hope that they may be able to revisit this with their underwriters, as I suspect many modern Maserati owners would struggle to justify a 50% increase when alternative insurers are available at significantly lower premiums. While those alternatives may not offer the same level of specialist cover as Lockton, the difference in cost is substantial.

I would be very interested to hear from any other members who have recently renewed with Lockton or experienced a similar situation. Have you seen a significant increase in your premium, and if so, did you find a suitable alternative insurer that still provides a high level of cover for Maseratis?

Any experiences or recommendations would be greatly appreciated.

[Tony Jaskeran]

I had used Lokton insurance until a few years ago.

At the time the premiums had increased & since then I use an alternative insurer on a multi car policy. It’s not like for like but overall much better value for money.

Insurance companies are really bound by their underwriters & when they change and take a different approach to risk then the premiums rise.

I wish you good luck on your case, especially as the rise in premium is staggering.

[David & Sue White]

Two days later, Lockton completely reversed their original position and resolved the issue by allowing me to add the Levante Trofeo to my existing multi-car block policy, exactly as I had expected they would and as they had done only six months earlier.

I’m genuinely pleased they did, because although their premiums are often higher than much of the competition, their cover is, in my opinion, significantly better. Their service, particularly when dealing with problems or incidents abroad, is second to none. The all-inclusive policy also allows any driver over 31 to drive the vehicle, which is a benefit I value, as I do occasionally lend out my Levante, although the Spyder remains firmly under my sole custodianship!

I believe this outcome was only achieved because I persevered and my case eventually reached the right people, rather than remaining stuck at the initial “computer says no” stage.

What disappoints me is that I had to fight so hard to reach what seemed to be the logical conclusion. I refused to accept either their original quotation or the revised quotation offered after my complaint, which was only a few hundred pounds lower. I insisted that the matter be reviewed at the highest level before I considered taking my business elsewhere.

My concern now is whether they have only agreed to include the Trofeo on my existing multi-car policy until the current term expires in December. I sincerely hope they do not proceed with what appeared to be their original intention of separating classics and modern classics from newer vehicles and charging premiums that are around 50% higher.

It would be interesting to hear whether other members have experienced similar issues when renewing or changing vehicles on their policies this year.

 

Yours david

[Tony Jaskeran]

It’s so frustrating when they could have done this in the beginning and saved all the admin time for everyone.

it will be very interesting to hear what the outcome is on renewal. So let us know

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