Protected no claims bonus on modified car policies

[obi_waynne]

Is it possible to get a fully protected no claims bonus on modified car policies?

What modifications are generally ignored and which ones are likely to put the premium up?

When do insurers start to request an engineers report or other documentation to support car mods?

 

[skyinsurance]

Hi Waynne,

in answer:

Is it possible to get a fully protected no claims bonus on modified car policies?

Yes, not an issue.

What modifications are generally ignored and which ones are likely to put the premium up?

All depends on the individual insurer, how modifications are dealt with will vary wildly between insurers. From a specialist (modification friendly) insurers perspective; short answer is performance modifications will increase premium in most cases whilst the majority of cosmetic changes will not.

When do insurers start to request an engineers report or other documentation to support car mods?

Again, will vary but I'd say it's rare that an insurer would ask for this. It is not something that we ask for and we insure some very highly modified cars.

 

[obi_waynne]

Thanks for clearing up these common questions, if I think of any more I'll let you know.

 

[RichiesTrucking]

rather than query privately i will ask here as it relates to the thread

why does an EVO 5 RS transfer box increase my premium on the basis that it would cost more to replace? with its position on the car, the car will be totalled anyway so the underwriter would never have to replace that particular part. even if somehow the part would qualify for replacement, the underwriter would declare the car uneconimical to repair anyway so they still would not have to replace it so why the premium increase?

 

[skyinsurance]

rather than query privately i will ask here as it relates to the thread

why does an EVO 5 RS transfer box increase my premium on the basis that it would cost more to replace? with its position on the car, the car will be totalled anyway so the underwriter would never have to replace that particular part. even if somehow the part would qualify for replacement, the underwriter would declare the car uneconimical to repair anyway so they still would not have to replace it so why the premium increase?

Hi,

I've had to track back on this and listen to the call as when I read the post this morning, the explanation of cost of replacement made no sense to me either.

The simple answer is that gearing changes attract a small load on the insurance premium due to altering the performance of the vehicle. It is not about cost of replacement.

Also, please always PM/email me for any changes going forward, either via here or the VR4 club

Thanks

Ollie

 

[RichiesTrucking]

cheers Ollie. that does make more sense. take your time sending the mod form out so i can add the other bits that are being done over the festive period in one go