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General => Insurance => Topic started by: MrBounce on 13 August 2010, 11:15

Title: Need Modified Vehicle Insurance? READ THIS FIRST!!!!
Post by: MrBounce on 13 August 2010, 11:15
Recently there have been a fair few posters on here saying they've been on comparison websites and/or to "normal" insurers about insuring their modified vehicle and saying they either can't get cover or the price is ridiculous. Before posting and whingeing about it, stop, and think about what you're doing.

Large insurance companies and price comparison websites are NOT set up to deal with modifications. Sure, the companies may be able to cope with a simple remap or a set of alloys, but much more and the systems they have simply can't cope. 99.99% of their business comes from standard vehicles and non-enthusiasts so it is simply not cost effective for them to make the necessary changes to accommodate us lot. Most of the staff they employ have no idea what an ECU is let alone what a set of Borbet wheels might be worth. I know this. I worked in Commercial Fleet insurance for 7 years and some of the staff there struggled with identifying a Renault Espace...

So, if you have a small modification, you could try the regular insurers first - you may be pleasantly surprised about the price but expect to be put on hold whilst they talk to "The Underwriter" before making a decision, which will usually result in a largely unfair price increase and a higher excess.

If, however, you, like the majority of the posters on here, have a fairly heavily modified vehicle, you need a specialist insurer. You wouldn't buy an expensive antique and try to insure it under a standard home insurance policy - you'd want agreed value on your item in case it was stolen. So why don't we do the same with our cars? It's your pride and joy and you would be devastated if something happened and it wasn't covered. What's it worth? Saving £50 and taking a big risk of 6 points and a non-repaired car or having peace of mind that all is covered and legal? Modifications need to be disclosed to the insurance company as your policy could be void without letting them know. If you're involved in an accident and your insurer finds out and won't honour the claim you will not be insured and that's a criminal offence - say hello to 6 points minimum. And good luck trying to get insurance once you've had it cancelled - most companies won't touch you.
 
You will find that a lot of the modified specialists are car enthusiasts like yourselves, and will be able to cater for most if not all modifications and many offer agreed valuations too. Give them the chance of your business. Our site is sponsored by some specialist insurers. There are others available of course, some of which are listed below. Please feel free to add to the list!

HIC

Adrian Flux

Sky Insurance

Performance Direct

Brentacre

Greenlight

Chris Knott Insurance

Cheers!

Mr Bounce
  :smiley:
Title: Re: Need Modified Vehicle Insurance? READ THIS FIRST!!!!
Post by: martinb on 13 August 2010, 11:20
well said, could not agree more  :smiley:
Title: Re: Need Modified Vehicle Insurance? READ THIS FIRST!!!!
Post by: robz on 13 August 2010, 12:12
+2
this should be read by everyone before silly threads appear!
good write up bounce!!
Title: Re: Need Modified Vehicle Insurance? READ THIS FIRST!!!!
Post by: Rhyso on 13 August 2010, 12:33
Top write up :afro:

Lets hope people actually bother to read it.......
Title: Re: Need Modified Vehicle Insurance? READ THIS FIRST!!!!
Post by: Ben Lessani on 13 August 2010, 13:07
Read it, wish it was true :|

Bell do my insurance over £400 cheaper per year than HIC and Flux could, with all mods declared.
Title: Re: Need Modified Vehicle Insurance? READ THIS FIRST!!!!
Post by: MrBounce on 13 August 2010, 15:21
Read it, wish it was true :|

Bell do my insurance over £400 cheaper per year than HIC and Flux could, with all mods declared.

Not sure what you're saying here as Bell, although part of the Admiral group, are more of a specialist as they deal with more unusual situations:

"Bell is a car insurance provider that specialises in providing cheap car insurance for all kinds of situations.

Our car insurance quotes are especially good for younger drivers, motorists who have been involved in accidents that were not their fault and people who have previously been named drivers on their partner's or a friend's policy, and have recently started their own car insurance policy. We could also offer you a competitive car insurance quote if you live in London, Scotland or the South East."

This is not a standard insurer. However, we can now add Bell to the list above  :cool:
Title: Re: Need Modified Vehicle Insurance? READ THIS FIRST!!!!
Post by: xkaty_h on 01 November 2010, 22:16
Read it, wish it was true :|

Bell do my insurance over £400 cheaper per year than HIC and Flux could, with all mods declared.

+1
Specialists were more, in fact extortionately more, expensive than my current insurer.
Title: Re: Need Modified Vehicle Insurance? READ THIS FIRST!!!!
Post by: jimmyb on 01 November 2010, 22:22
if you plan on modding your car your best of asking if they do cover modified cars when you take your policy out,because i know of someone that phoned up his insurance to tell them about his new suspension only to be told they would not cover him,
this isnt pointed at anyone im just saying.
Title: Re: Need Modified Vehicle Insurance? READ THIS FIRST!!!!
Post by: mk2 helper on 09 October 2011, 02:51
o;d topic i no but i'll be definately checking this out when my insurance is up for renewal as not declaring mods is silly as ur not properly insured and its not worth the points especially if ur my age and only have 6 available points on your license but are these companies any good for young drivers with relitavely high powered vehicles wich are highly modified as the prices of insurance is the main thing that stops people of my age declaring mods
Title: Re: Need Modified Vehicle Insurance? READ THIS FIRST!!!!
Post by: legg360 on 04 November 2013, 02:01
After reading this just jumped onto the comparison sites as I may have my current insurance as 'no mods', only have different alloys and carbon wrap roof this put my insurance from £650 to £810, as I planned to do some more added air box, ECU and exhaust system only increased price to £835. As a 22 year old male with 2 crashes in last 3 years on a 2010 GTI I don't think that's a bad price tbh!

As my insurance is up end of the month its worth the tiny bit extra to be covered properly I think, both those prices are from go compare and with elephant.
Title: Re: Need Modified Vehicle Insurance? READ THIS FIRST!!!!
Post by: skyinsurance on 04 November 2013, 13:21
After reading this just jumped onto the comparison sites as I may have my current insurance as 'no mods', only have different alloys and carbon wrap roof this put my insurance from £650 to £810, as I planned to do some more added air box, ECU and exhaust system only increased price to £835. As a 22 year old male with 2 crashes in last 3 years on a 2010 GTI I don't think that's a bad price tbh!

As my insurance is up end of the month its worth the tiny bit extra to be covered properly I think, both those prices are from go compare and with elephant.

It may be an idea to try a modification specialist insurer as well. The comparison sites are set up predominantly for standard UK car insurance.
Title: Re: Need Modified Vehicle Insurance? READ THIS FIRST!!!!
Post by: legg360 on 04 November 2013, 15:11
I got in contact witj sky insurance today there best price with no mods was over £1200, the guy said could be because of my age with 2 crashes, he said to try again in a few years when the crashes are more then 5 years, over 25 and have more NCB and they should hopefully be cheaper... so for now elephant looks like they are getting my monies

will be trying some of the others you have listed on this thread tho as more money in pocket means more money to buy shiny bits :D

Edit: just checked for no mods and all the mods I plan, as insurance prices have gone up since I last checked the difference is £32 (£804 standard, £836 with all declared)... I only checked 3 weeks ago when I got the car and it was only £649 with no mods... increase of £155 in 3 weeks that cant be right surely??