Insurance Implications

[h100vw]

Did I send you a tshirt as well. Just don't crash while you are wearing it if I did!

[bluefrog]

gold!!!

[parso_rex]

Use Shannon's.... Problem solved. I've used them for all my cars and it seems the more its modified the better they are about it. Last car had a different and bigger capacity (by 25%) sleeved motor with forged internals, Garret GT35R on a rotated setup, huge FMIC and engine bay motor sport pumps and everything else, All suspension mods, aftermarket computer and so on, all for $1950 in the 2nd riskiest postcode group in Sydney and that was a $50,000 agreed value too.
I really don't think any insurance company could detect a remap even the dealers are hard pressed do find a stuffed diverter valve. If the car has an exhaust and other boltons its another story.
I"m just about to insure the new R later in the week, I'll report back with the 'deal'

[wai]

Use Shannon's.... Problem solved....

The problem with insurance is not whether you can get a policy, but whether you can actually have a claim met. You can only ever find this out when you make a claim.

You will find an insurer that will gladly take your money and you will have to pay what they feel is appropriate to the risk they are taking. They will also agree to any value you like. Then it is the fine print, and this is where you will find out whether they will actually meet a claim, and you will only find out the detail and interpretation when you make a claim. They are not worried about small claims. It is when you have a write-off that the problems start, and remember with a comprehensive policy, it is not just your vehicle that they are covering, but any other vehicle involved in the accident.

If you can find an insurer that will write a policy and then meet claims, great. It is just that like those caught up in the January floods, insurers are extremely eager to wriggle out of meeting claims, and that is ANY insurer. Way back in 1981 I had a kid ride his pushbike into the side of my car when stopped at a pedestrian crossing. I decided not to claim as there was no real damage, but as the police were called I thought I'd do the right thing and file a report to my insurer. Even though I wrote THIS IS NOT A CLAIM right across the forms, AND they did not have to pay out anything to me or the other party, it took me almost 12 months to get them to reinstate my no-claim bonus which the cancelled following the report.

[Finance_Analyst]

I checked with my insurer Suncorp and for an APR Stage 1, I get to retain my current premium with no additional excess.

It took about 30 mins of explaining what the ECU tune is and after a lot of to and fro, I found out that Suncorp gives 12 points for mods (e.g. wheels, exhaust) within the normal policy and the tune is equal to 10. I had to make a second call as the first one did not record any of this down!

[Glennb]

Depends on insurer. Was going to carry over my previous car insurance from Allianz to the R, but when i mentioned possible future mods, they said they won't insure it as they have a blanket policy against modified cars. Phone monkey understood as he drove a modified car and knew exactly what i wanted, but couldn't help.

Went with RACV in the end and don't need to declare it as all they care about is any mods that will cause a fail for a Roadworthy Cert. Equally, they don't care about any options i ticked either, so went with agreed value of car rather than market value which is based on the stock car value.

Paying $1400 a year (rating 1, $500 Excess), but have full glass cover and unlimited hire car (needed for getting to work while my R is getting fixed/replaced as it might take 6 months again )

[Gigitt]

I went with NRMA but rang the to query 'what about modification and non-standard accesories' on the car.
As my car is considered NEW I get a replacement car withing the first 2 years.
Well when I asked about Mods.. they said Any modification or non standrd accessory fitted (mud flaps, protectors, tow bar etc) has to be within RTA guidlines. But if the car is written off you will just get a new car without the modification or accessory (within the first 2 years of a new car). After 2 years the modification and accessories will have to be listed.

so... moral is... up the $$$ value of the car to include said accessories/modifications

[wai]

so... moral is... up the $$$ value of the car to include said accessories/modifications

Be very careful here. Understating or overstating the value of something for insurance purposes can see a claim denied. You see, there will be a clause in the terms and conditions where you have to be telling the truth, and if you stretch things, this will be invoked and no policy.

It's the same with home contents insurance. If you overstate the value and make a claim, then the payout will be reduced by the difference between the true value and what you claimed it to be.

Now, if you have accessories fitted by the dealer pre-purchase, then those will be included. The accessories that are excluded are those fitted post-purchase.

[Gigitt]

market value VS insured value

[Hhawker]

Earlier this evening I called my insurer (RAC) to see what type of damage, if any, I might be up for if I decide to run with an ECU upgrade. I'm looking at getting a stage 1 upgrade this month, through APR, while the Christmas sale is on.

After 5 minutes of explaining what I was planning to do to the car, the bird on the other end of the phone had no idea what I was talking about, I was told that my policy would have to be cancelled. RAC apparently offers no cover on cars that have had any type of ECU upgrade. The main thing they seemed to be concerned about was the increase on kW.

Does anyone here have any experience with RAC and ECU upgrades over here in the West?
It looks like I'll have to get busy with the online quotes and make a few calls to see who will and wont cover me once my APRs been squared away.
Anyone have any suggestions?