mods and insurance

[FASN8U]

hey fellow ozhondar'es:honda:, ive had my honda for afew months now and want to start modding it. basicaly for now i want to lower (legaly) 18/19inch rims , monitor and stereo upgrade.the car is fully insured and i want to keep it that way. was just curious how much more insurance wil cost me , or will they cover me at all? what do you guys do about ur mods and insurance? do you tell insurance bout all your mods? help and advice would be very much appreciated!

[dsp26]

why don't you ask your insurer for a re-quote?

depends how old you are as well.. some insurance companies only limit you to one major modification.. ie if you get wheels then no entertainment system for you.

[mars_panas]

Hello... i am not sure about the pricing but when u do mods and u want insurance to cover you for the mods... you should call ur insurance company and tell them that u recently modded ur car so they can upgrade it.

[FASN8U]

why don't you ask your insurer for a re-quote?

depends how old you are as well.. some insurance companies only limit you to one major modification.. ie if you get wheels then no entertainment system for you.

you gotta be careful with insurance they can screw you over .yer i plan on calling up , just wanted other people experiences . thanks

[sassy_fit_vtit]

Yes you have to tell the insurance company all the mods on your car so 1. they can cover it in the event it is damaged and 2. you don't void your insurance.

In most cases as long as the modifications are legal and not over the top they will cover it depending on which provider you choose, e.g. Aami will only over 1 mod if any drivers are under 25yo.

In terms of your policy and how it effects you, most likely a fixed excess or additional excess will be imposed on your policy. i.e. in the event you make a claim, even though those modifications were not effected, you will need to pay a higher excess then the norm. But if you are a good driver, then nothing that you should be worried about.

Generally speaking your premium shouldn't be effected unless of coarse you have insured your car for an agreed value and the agreed value has increased due to your modifications

[sassy_fit_vtit]

If you are worried then call up and ask hypothetical questions.

[FASN8U]

thanks sassy fit vtit , cleared up alot for me . well im with RACV if that matters? not fussed if they agree to no cover the mods or raise the excess . just definently dont want to do anything that wil void my insurance. anyone else have experience with mods and RACV?

[dsp26]

If you are worried then call up and ask hypothetical questions.

yeah thats what i did with my current insurance company.. didn't tell em i was an existing customer.. just getting a quote for mods comparing to my current premium

[SHOGUNOVDDRK]

In theory if your insurance company wont cover all your mods can you insure your modifications seperate to the car but still have them in theory insured in the case of a car accident?

(just a thought)

[sassy_fit_vtit]

from my experience there are no companies which insure just the mods and not the car. And if there was, it would still void your car policy because you failed to disclose relievent details about your car which could influence whether they would cover you or not.

[FASN8U]

yer they would just use that as an excuse NOt to pay up incase of an incident

[Research]

thanks sassy fit vtit , cleared up alot for me . well im with RACV if that matters? not fussed if they agree to no cover the mods or raise the excess . just definently dont want to do anything that wil void my insurance. anyone else have experience with mods and RACV?

hiya there..
frm wat i heard frm a friend of mine.. he was once asked RACV to insure his modded car.. n he had to pay so much tat he can buy another EG.. lol.. not too sure tho if its only simple mods..
im with Just Car.. but i only have simple audio systems, less than $200 lol.. so of course they're ok with it.. but they dun insure my cf hood.. :( so sad..

so i guess u should call ur insurance n ask.. perhaps if its simple mods, they wont hassle u too much.. g'luck! :thumbsup:

[FASN8U]

thanks reaserch , i think il stick with RACV hopefuly they wont be to bad with mods i plan to do but il definently let em no when i do mod it.

[power_of_dreams]

I have a hypothetical question
Say you were insured with no mods then proceeded to mod (say an exhaust) without updating.

If your car was written off and you were not at fault, would your car be covered minus the exhaust or not at all?

If your car was written off and you were at fault, would your car be covered minus the exhaust or not at all?

[sassy_fit_vtit]

it is up to the discretion of the motor vehicle assessor.

Put it this way when setting up an insurance policy and at renewals you have a duty to disclose information, if the information is to the best of your knowledge incorrect or you have told fraudulent details then they have a right to deny a claim or treat the policy as null and void

an exerts from just car insurers

When we agree to insure you, to renew or vary your policy, or to pay your
claim, our decision relies on the accuracy of the information you give us.
If that information is not accurate, we can reduce or deny any claim you may
make or cancel your policy

and what i used to recite dozens of times a day

You must answer our questions honestly and tell us everything you, or a reasonable person in the circumstances would include in their answer. If you do not we may reduce or refuse to pay a claim or cancel your policy. Your answers apply to you and anyone to be covered on this insurance

[power_of_dreams]

Cool,
I found an excerpt from the insurance policy im thinking of taking up

"if you do not tell us about any
modification, option, accessory
or fitting that replaced an item of
standard equipment, we will only
cover you up to our assessed value
of the standard equipment replaced"

Which sounds not bad if you only intend on small mods.

[FASN8U]

yer that sounds pretty good , sorta what im after just to cover the car itself not rims etc.. . what insurance company told you that can i ask?

[power_of_dreams]

Racv.

[sassy_fit_vtit]

just remember that your policy is on condition that you tell them your mods because there are acceptance criteria and that extra mod you do but don't tell them, might make your car something that they may not cover and them you'd be wasting your money

[FASN8U]

sweet thanks for the help