MR2 value - on-going insurance

[ChrisGB]

I am insured with AF and my policy is like for like replacement. You have insured your car, which you have fully specified to them, so that is what they have insured. Go for it!

Chris

[Anonymous]

Sorry Will, looks like I binned the policy book and only kept the actual certificate which doesn't help at all  s:( s:(

[WillsSayers]

Ahh no worries mate. I'll give them a call tomorrow and see what's occurring. Bastards were shut by the time I got home!

[Mike68]

There are things to consider, the value of the car that you told the insurance company when you started the policy. If you declared £3400 then you can't expect them to pay much more, if any. On top of that if you've added mods after the policy started and you gave your approx value of the car then the settlement figure should reflect the mods on top of market value. They may agree to give you an extra grand, could well respond by saying that you can buy the car back for £1850.

You can't expet like for like though, say with the suspension, the standard suspension would be taken into account afterall, if they wrote the car off and it was standard, the price of standard suspension is included. Same as the engine, the standard engine costs would be deducted, they won't pay for items twice (unless you get away with it).

[WillsSayers]

Still on-going....... Sent them (them ofcourse being the Insurance company) a lovely long email about my car, the work done to it by Woodsport, the value of the declared mods, and my love for bananas. Turns out, my bodykit wasn't declared; shocked me seeing as I'm sure I did! As far as I can understand, it's occurred when I was asked to re-do my original modification declaration form, as they had lost my original. I must've missed the bloody bodykit off!

But sounds like it's not going to cause a huge problem – as my insurance is on a modified policy, I'll only have to pay the extra premium of what declaring the bodykit would've added. I think they also concede that not declaring a factory-option official Toyota lip kit was just a mistake, seeing as I had declared the V6 conversion etc! Just delays things slightly more, this occurred last week so will give them a chase up about it today!

Getting proper tedious though, all this lovely weather and having to drive around in a diesel Civic  s:( s:(  On the plus side, did spend a week in an Audi A6 S-line, which was a bit contrasting with the noisy V6  s:D s:D

[loadswine]

Hang on in there Wills. At least they've navigated around that hiccup.  s:) s:)   If they wanted to be awkward, that would have been a golden opportunity for them, but they are still trying to get you settled by the sound of things, so there is hope yet that you'll do okay. Lets hope it s good and also quick , for you to enjoy some top down goodness soon.   s:wink: :wink: s:wink:

[stargazer30]

Getting proper tedious though, all this lovely weather and having to drive around in a diesel Civic  s:( s:(  On the plus side, did spend a week in an Audi A6 S-line, which was a bit contrasting with the noisy V6  s:D s:D

SNAP - I've been driving Matts £800 volvo for 2 weeks in this lovely sunshine   s:roll: :roll: s:roll:  as hes busy bolting a turbo onto my MR2 at the mo   s:D s:D    You watch I'll get it back and it'll rain!

Hang in there, ins cos can be a pain, I've had some fun with them in the past too.  Are you planning to get woodsport to re-V6 your new MR2?

[WillsSayers]

My thinking exactly, Nige!

Stargazer, I've got 3 potential choices at the moment, ones that'll either leave me exactly where I was pre-crash, or ones that'll end with my in a measurable car that may or may not be an MR2 depending on decisions made and pay out amounts....... I'm not being cryptic to add to the surprise, simply I don't want to get myself excited for one possiblity only to realise I can't afford to or end up making another choice!  s:D s:D

[enid_b]

so wise for a man of so few years wills,

i like it, well done sire

[WillsSayers]

Well possible boulder-dash on the cards. They've taken my information, reviewed it, agreed on no additional premium for the bodykit then offered me......... £4.5 : Granted, this is 1100 more than originally offered; pretty damned good for a market value stock car. But for it seems they're not wanting to pay for my engine......... Will be having words with the Flux in the morning and seeing what they have to say and see if they can put pressure on Highways themselves!

It's all fun and games  s:) s:)  There's a lesson to be learnt here somewhere I'm sure.............

[evileye_wrx]

Is the lesson that if you want to get back what you've put into a car then drive it into a wall? I did consider that as an option with mine   s:wink: :wink: s:wink:  

Phil

[WillsSayers]

I think they'd still be arguing the toss over having to pay the for V6 no matter what I drove in to! Interestingly, I do wonder what would happen if I had an accident writing my car off, that wasn't my fault? Would I be entitled to have a car with a V6 handed to me, or £10k to buy a new one? Would my insurer be fighting my case to ensure that happened? Hmm..........

[rypt]

Interestingly, I do wonder what would happen if I had an accident writing my car off, that wasn't my fault? Would I be entitled to have a car with a V6 handed to me, or £10k to buy a new one? Would my insurer be fighting my case to ensure that happened? Hmm..........

You would be compensated the value of the car, all mods included - as afaik under the way the law is you are entitled to be reimbursed as close as possible to the position you were in before the accident (this is if someone hits you)

When it comes to you claiming against your own insurance it depends on the policy, and whether the policy states that they will pay out agreed value, or pay out for all the mods, or just cover only original parts.
Something like an agreed value policy, as used for classic and kit cars makes sense for modified cars tbh

[WillsSayers]

Right, looks like £4.5k is all I'm getting. Way to lose £6k's worth of modifications, eh! But oh well, no point crying over spilt milk, and lots of point in getting me back in to a fun car!

Right, let's say I get my Roadster repaired and back on the road. It'd be a Cat C I believe? What implications does this bear if I have an accident again, be it my fault or not? Will it affect the payout I would receive, ie they'd say "this is what market value is, but seeing as yours is Cat C, half it!", or would I be looking at an agreed value insurance for fully comp? I've been told by someone at work that if I were to reinsure my car as a Cat C, I'd only be able to get 3rd Party coverage......?

This is ofc, assuming my car is repairable; I'll be getting it shipped to Woodsports for the famous Paul Woods to cast his critical eye over any potential damage. All systems go, I'd LIKE to get her back on the road. All systems FAIL, and I'll be looking at splashing £6k on a fun-to-drive convertible........ mk1 MX-5 with S/C......?  s;) s;)

[stargazer30]

Wills am I reading this correct, adrian flux are not paying for the value of the modifications? ie the V6?  I've used them in the past and was sure they covered mods and the value of them!

Infact the other week I had the same talk with my insurance (Sky) before I spent a fair bit cash on a turbo conversion.  The end result was in the event of an accident they would pay the market value of the modifications as well as the car, or what was needed to replace the car with one of similar age/condition and with the mods on.

[WillsSayers]

From what I understand, Adrian Flux are just the brooker, Highways are the insurers. If they don't cover Mods, they don't cover mods. If AF put me through to an insurer that did, then I wouldn't be having this problem. I don't remember the question being asked if I wanted my mods to be insured, and there's nothing in my policy that states either way if they are. The person I spoke to at AF today said they didn't know why I was told my mods should be covered by the previous AF staff member I spoke to.

But to answer your question, Adrian Flux are not paying my insurance, Highways are. Adrian Flux was the brooker. And yes you are correct in saying that they are not contributing towards the cost of materials or labour for my V6 conversion that was declared on the insurance.

[Anonymous]

Ouch, sorry to hear that Will  s:( s:(

As far as your insurance questions go, your mate at work has no idea what he's talking about: You can still insure a Cat C fully comp, I'm sure of it. As far as vehicle worth in case of another accident, I don't know. Personally I'd ring up a couple and ask them direct.



Big man points for taking this so well too, or at least taking it so well in public!   s:) s:)

[davidarden]

Big man points for taking this so well too, or at least taking it so well in public!   s:) s:)

Spot on, I'd be so much more peed off than you appear to be right now!

Sorry to hear all this Wills, hope you get it sorted pronto.

[WillsSayers]

As far as your insurance questions go, your mate at work has no idea what he's talking about: You can still insure a Cat C fully comp, I'm sure of it. As far as vehicle worth in case of another accident, I don't know. Personally I'd ring up a couple and ask them direct.

I will do. Will get checked over first though, else I'm wasting my time ringing insurers!

Big man points for taking this so well too, or at least taking it so well in public!  s:) s:)

Ha, nowt's worth getting worked up over in life mate, there's ne difference to how I'm taking this in my head than I am at face value! The wonders of a Can Do attitude Dan!

[Mike68]

You will have to declare a cat d or c. If it will be a cat c then you may have to have a chasis alignment report done on the car before you will get insurance for it even though the chasis may not be damaged, also it will cover you against a 3rd party trying to say the car was not road worthy etc. If the insurance company are aware of the cat d/c then they will pay out in case of a claim but quite possibly at a reduced figure.

[stargazer30]

From what I understand, Adrian Flux are just the brooker, Highways are the insurers. If they don't cover Mods, they don't cover mods. If AF put me through to an insurer that did, then I wouldn't be having this problem. I don't remember the question being asked if I wanted my mods to be insured, and there's nothing in my policy that states either way if they are. The person I spoke to at AF today said they didn't know why I was told my mods should be covered by the previous AF staff member I spoke to.

Erm no,that sounds like a cop out to me.  I'm pretty sure Adrian Flux make its a selling point that they cover mods like for like.  Yes they are a broker but they have a set of minimum requirements they use when selecting insurers.  I'm honestly shocked to hear this from them and very suprised it was not made clear up front when you took the policy.   I know when I used them before I was told up front mods were covered and when I had my accident they were covered no arguments.

[Anonymous]

Mods are covered, but not for their replacement value. It's not unusual to have that from AF, I've been on a similar policy before.

[WillsSayers]

Okay, looking at their site, I've found this snippet:
"Declare all your mods. Make sure you tell us about all modifications to your vehicle, even if they don't enhance performance. Some mods might even reduce your premium. Most importantly, you will also get like-for-like cover on all your upgrades, so you won't have to fork out again if you need to make a claim."
[from http://www.adrianflux.co.uk/modified/]

So where do I stand?! I'm so confused right now.........  s:lol: :lol: s:lol:

[markiii]

ok this is where insurance gets confusing

first a cat C car can be insured fully comp, HOWEVER and its a big one, the value attached to it will be market value for a CAT C car, which will be significantly lower than a non CAT car. Logically if their risk is lower you'd espect teh Premium to also be lower, though in reality I'd expect it to be an excuse for a higher one.

ref what your car is insured for

the options essentially are

1. Stock Car without modifications
2. Stock car with modifications ALLOWED but not COVERED. i.e they will allow you to mod, and probably charge you for teh privilige, but in teh event of a claim will only pay out based on a stock car or stock parts. Thats how teh majority of mainstream insurers work
3. Stock car with modifications ALLOWED AND COVERED. i.e they will allow teh mods you've declared and pay out to replace them or for a car with equivelant mods if you write it off.

Option 3 is rather a minefield as how you value teh mods themselves is tricky, I used to supply them with a written list of mods and a value attached to each mod and ask for confirmation that they were all covered to that value.

Option 4 is AGREED VALUE, last time I insured my roadster thats the ooption I went for its a little more expensive but I realised that market value for my car was £5K and it would have cost me £14K to build an equivelant replacement.

I hate Flux with a vengeance as they masquerade as a mod friendly company but are so vague on teh details its untrue. It doesn't help you now but I used teh MR2DC offical insurance company at the time.

they asked for a letter from an independant specialist confirming condition and value. Which Matt at SP was kind enough to do for me.

Had I written teh car off at this point I would have been guranteed my £14K back.

I guess your argument is whether you were covered under the rules of Option 2 or Option 3 above. Personally if in doubt I usualy write teh insurance company a recorded letter stating what I beleive I'm insured for in simple language and insist they write back if they disagree.


Again not that this helps you much.

good luck bud.

[WillsSayers]

Thanks for the post Mark, good for the clarification. However in regards to the snippet I quoted above, I've highlighted the points I THONL are important:

"Declare all your mods. Make sure you tell us about all modifications to your vehicle, even if they don't enhance performance. Some mods might even reduce your premium. Most importantly, you will also get like-for-like cover on all your upgrades, so you won't have to fork out again if you need to make a claim."
[from http://www.adrianflux.co.uk/modified/]

Surely if this is a deal they apply to all modified vehicle policies, I'm sorted........