Modifications - What are the insurance implications?

Apu · Postby **Apu** » Wed May 07, 2014 9:24 pm

Why don't you call a few insurance companies and find out. Seriously...that is the best way.

KevGoat · Postby **KevGoat** » Wed May 07, 2014 9:34 pm

^ as Apu says, best to contact the company. Each will have different requirements.

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hks_kansei · Postby **hks_kansei** » Wed May 07, 2014 9:43 pm

Pretty much every insurance company will have at least one rule.

Modifications MUST be legal.

Each company is different though in how anal they are about it, some may refuse to insure you for certain mods even if they're legal.

Generally mods will add to the cost of the policy, but of course, the policy then covers the mods in an accident.

It's a good idea to list them, it saves you having to quickly strip the car down and put it back to stock after an accident.

cookie · Postby **cookie** » Wed May 07, 2014 9:48 pm

When trying to use shannons listing lowered suspension doubled the price. Just car is 750pa u Der 25yo. 1500 excess etc. for 10000 agreed value.

Gladiator · Postby **Gladiator** » Wed May 07, 2014 10:04 pm

I'm with Shannons & There was little concern about mods. But then I'm over 50.

rossburns · Postby **rossburns** » Wed May 07, 2014 10:08 pm

I'm with shannons and no problems with mods, 33.75 per mth for me

KevGoat · Postby **KevGoat** » Wed May 07, 2014 10:11 pm

Well I think the trouble will be that individual experiences will vary quite a bit. While some companies will allow some mods, others will require that every alteration made from factory supplied is approved and listed. Basically any mod, no matter how basic, should be notified if you want to be safe. There are obvious ones, such as adding a turbo, that will create issues with most companies ...

Edit: hate that ... slow Internet here at Motel so what I posted had already been said!

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Black_Penguin · Postby **Black_Penguin** » Thu May 08, 2014 12:20 am

Listing the mods on my car with Shannon's raised my premium by $200 a year from $1000 to $1200 a year.

Guran · Postby **Guran** » Thu May 08, 2014 8:30 am

My previous experience is that as soon as you mention any performance modifications, NRMA will not insure your car. Although that was several years ago and things might have changed.

Regie · Postby **Regie** » Thu May 08, 2014 8:40 am

Guran wrote:My previous experience is that as soon as you mention any performance modifications, NRMA will not insure your car. Although that was several years ago and things might have changed.

I'm with nrma currently. I asked them about all my mods, they say as long as they are all legal you won't have to list them. Just bump up the agreed value. I think my Nc is insured for $33k or so ATM.

cookie · Postby **cookie** » Thu May 08, 2014 12:02 pm

My (limited) experience with NRMA is that it's only really good for those with a questionable driving history. (no excess for unlisted drivers) in which case they can be cheap. otherwise their "competitive quotes" aren't generally THAT great. what would I know, I'm just young and stupid. ;)

Guran · Postby **Guran** » Thu May 08, 2014 12:52 pm

You realise that "legal mods" in NSW means they are all inspected and signed off by a licenced certifier?

Regie · Postby **Regie** » Thu May 08, 2014 1:17 pm

Guran wrote:You realise that "legal mods" in NSW means they are all inspected and signed off by a licenced certifier?

my car came from the factory with Ohlins, and a full exhaust sir

bruce · Postby **bruce** » Thu May 08, 2014 1:33 pm

..and an LS7.

Pamex · Postby **Pamex** » Thu May 08, 2014 3:24 pm

It does depend on the insurance company, but the general fine print in any contract is 'if you change the vehicle in any way, it is your responsibility to inform the insurance company'.

If your car is being assessed and you have modified it but not notified the company, it can be a big issue. Particularly when you go through insurance companies that have in-house repair centres. Joe's panel shop down the road won't notify insurance of any non-listed mods. But an in-house repair centre that all work for the one company? Hmmm.

If the fine print says 'you must notify us on any changes or damages to your vehicle' and you don't notify your insurance company of any modifications, it means that you haven't followed the terms of your contract in notifying changes.

Insurance companies are there to make money. If they can deny a claim, they most certainly will. Legally, what can you do? Nothing. You have failed your contractual obligation.

I would always ring up to advise on modifications. It will take 5 minutes and can save your ass further down the line.