General Insurance Query! Adivice needed.

[saf]

So far, having a pretty standard car with ust a map, insurance has been okay and managable.

I am currently undertaking some major open wallet surgery on my 2000 S4. Will be doing things like K04 RS6 hybrids, lowering compression,, RS4 brakes, new RS4 clutch starter motor alternator, stage 3 fueling , 3 inch downpipes etc ect. I will also have a dual map on the car, so I could drive with 265 or 330 brake on the road using an economy map, and use more power on the track / private road, thus enabling me not to declare the extra power as I would only have standard power while driving!

this all will be costing quite a bit. Now What do I tell the insurance companies?

My main problem is, I dont want to spend the best part of 8 grand doing the upgrade to find out that if some wally crashes into me on the road, and my car ends up written off, and I dont get paid the extra.

When insuring the car and they ask you how much you want toinsure it for, and you say 15K , dont you still get book value?

Sometimes they dont even give you the option to buy the car back to strip your parts off and sell them to get your money back, or is there a way around this?

I just dont want to do all this work to instantly lose the money I put in if something goes pear shaped.

Thanks

[MarkB]

The best way to get all these questions answered is to talk to some insurers. This is where cheapest isn't always best. IMO

[derdle]

Have a word with Greenlight (brokers) - 01277 263030 and mention the forum. Very helpful chaps.

Paul

[saf]

Spoken to some insurers already and they have not been very helpful, which is why I wanted to know what modified car uses have experienced going down this route.

I dont mind paying more of a premium to cover the extra. The problem I face is that most insurers dont know what like for like means and will get to scared.

i will guive green light a call however as they seemed to be clued up.

Any more advice will be appreciated.

[PhilT]

Buy a faster car - I mean £8,000 of mods will pretty much double the cost to replace your car. Having been in a similar position many years ago, I vowed never to spend stupid sums of money modifying cars. My aim is to take a road car and make it as able as possible on the track, whilst perserving its daily driver ability.

[BRETTCOLLINS]

Have a word with Greenlight (brokers) - 01277 263030 and mention the forum. Very helpful chaps.

Paul

Get A like for like and set value on the car...

[derdle]

Just had my renewal through from Greenlight and the premium had gone down from £ 697 to £ 647!

[MarkB]

Just had my renewal through from Greenlight and the premium had gone down from £ 697 to £ 647!

OAP discount?

[derdle]

Mark...I've just realised why it's gone down..and you're not far off actually. perhaps I ought to go back and delete the post!!!

Perhaps I'd better change my handle to "oldgit".

Paul.

[Blue_Thunder]

Saf, if you are running a duel map, I think you'd have to be rated on the highest one.
You'd have an impossible job proving which map you were running at the time in the event of a claim.

[saf]

Thanks for the replies guys.

Predicament Im in now is that the clutch needs doing. So Im going to have to spend money on the car anyway, which is why I want to do the full stage 3 hybrid route. Thats as fa as ill go without having to change heads etc.

Ive thought about selling MY S4, but just cant bring myself to do it. If I did sell it, theres nothing else Id rather get or that would give me the power of the S4 at reasonable cost. Especially insurance wise. I tried getting a quote on a 4.2 S4 and it was double the cost of insurance of the bi turbo.

Im in the process of looking for a nice Estate 1.9 Passat Diesel as a run around. This means Ill only use the S4 for fun long drives and will be covering 6000 miles maximum per year. That takes a huge chunk out of the cash I spend on juice out. Those Diesels seem to give the same mileage my S4 does when the fuel light comes on for refilling.

Ive thought of many cars, M5, S4, RS4 but none of them tick the boxes I need.

I love the low down torque of the S4. I like the RS4 but the bigger heads takes out a lot of fun of on the road driving. i just prefer the S4 heads and the way the power is delivered. You just drive. You dont have to make the engine work for the power.

I havent called Greenlight yet as ive bene busy as of late but I need to make sure I sort all this out soon.

Will all insurance policies offer alike for like. what does liek for like mean? Does that mean if you fit hybrids, as a replacement for K03's that they will need to cover the cost of the hybrids? + the cost of the exhaust you put on + all other bits, regardless whether youre runnign more power or nit?

Thanks again guys.

[SimonC]

Try Lancaster Insurance - they do agreed valuations on classic cars and cater well for modifications. I'm sure there are many similar companies. Don't be put off by the whole classic car thing, it doesn't mean you have to own an old MG.
I'm sure there are plenty of people unwittingly driving modified cars with no idea that a previous owner had the car re-mapped, I know of a lady whose almost new UR Quattro ended up being chipped by Audi to cure an ignition problem. Is that a modification or a dealer repair?
Personally I agree with PhilT's advice. I would always consider replacing a worn out part with a modified or improved version but at some stage I would question whether I just need a different car. If, however, you can justify an £8000 hobby then what's the harm?

[Peakz]

Like-for-like means exactly that, pay the slightly higher premium and get each upgraded part replaced for the same if you make a claim.

I'm with A-Plan (Thatcham branch deal with modded/high performance insurance) and they've covered my car for £500 fully comprehensive.

[ZeroK66]

Greenlight insure me wiht every mod included at an agreed value

25y/o
7YR ncd
Replacement Car
Protected No Claims
Legal Cover

£650

When I was 24 they were charging me £1300... still not bad.

[saf]

Theanks Peakz and Leon.

Ill give them a call, but I think Greenlight said they wouldnt insure me because of my postcode. Ill have to check on that one. Ive got 9 years no claims discount, but live in the heart of London. Paying £700 fully comp right now.

I dont mind paying extra for piece of mind.

Let you know how I get on with A plan and greenlight.

Thanks