Best place for insurance on a slightly modified 996?

SteveAndrews · Oct 27, 2013

I thought it best to contact my insurer LV to tell them that the 996 had non standard 19" wheels. I had already told them of the upgraded lights and wing on the back. To my horror they said that as I now had more than two modifications they could not continue the cover and that it had to be cancelled from midnight!

I tried to argue the point but was told it did not matter what the mods were, it was simply there could be no more than two.

Has anyone a suggestion as to the best place to go for insurance where these mods will not casue a problem?

Thanks

andywill · Oct 27, 2013

Hi Steve
Try Manning uk used by a number of members.
Regards Andy.

924nutter · Oct 27, 2013

Always give Lockton's the club's preferred insurer a ring. Performance direct declined to cover me for the SIlverstone Classic, at £624, but Lockton's would at £682 so I make that £58/year for Club Organised track day cover. give them a try.
That is for a 5,000 mile a year 996 turbo cabriolet.

SteveAndrews · Oct 27, 2013

Thanks very much for the suggestions. I'll get on to them tomorrow and hopefully get myself back on the road asap!!

Steve

andrew_churcher · Oct 27, 2013

Is that actually a modification? How do they define it? You replaced round wheels for another set of round wheels except they are slightly bigger. Adding a roll cage or supercharger fair enough.....that is a modification to me. Slightly bigger wheels......

M666LMJ · Oct 27, 2013

Hi Steve.
You could give Classic Line a try. As the car is 10 years old+ It qualifies for this type
policy. We found them very reasonable and accommodating with our modified 996 c4s.

Regards Mike.

924nutter · Oct 28, 2013

It has to do with the risk. in the eyes of many insurance companies, who pare margins to the bone, if you change wheels it could increase the desirability of the wheels; i.e you might offer irresistable temptation to some thieving scum bag thus increasing the risk. ( region 19 has a broker in its membership and assures me there is next to no profit in motor insurance) A freind of my stepson (Mark Garton of Gartons insurance) arranged the insurance for my 944 via Garton's of Whaley Bridge (I dont think they are still around hence using their name) and he explained why changeing the wheels or other bodywook modifications could present a problem.

SteveAndrews · Oct 28, 2013

Thanks for all the comments and suggestions. In the end I have taken out insurance with Admiral (£365 including covering the modified bits) as most of the "specialists" said that since August 2013 the underwriters had decided that they would not insure the car unless it, or a similar high performance car, had been owned for more than a year. Apparently they had found that most of the claims they received came from people in their first year who had not had performance cars before/recently.

As my other insurance is up for renewl next month I have actually taken out a multi car insurance with Admiral so LV's attitude has cost them dear!

When I get time I wiil add the details to the "Insurance" thread.

chriscoates81 · Oct 28, 2013

ORIGINAL: 924nutter

It has to do with the risk. in the eyes of many insurance companies, who pare margins to the bone, if you change wheels it could increase the desirability of the wheels; i.e you might offer irresistable temptation to some thieving scum bag thus increasing the risk. ( region 19 has a broker in its membership and assures me there is next to no profit in motor insurance) A freind of my stepson (Mark Garton of Gartons insurance) arranged the insurance for my 944 via Garton's of Whaley Bridge (I dont think they are still around hence using their name) and he explained why changeing the wheels or other bodywook modifications could present a problem.

I find that hard to believe, surely its all profit unless somebody claims? when's the last time an insurer went bust?

924nutter · Oct 29, 2013

Well believe it or believe it not. John S lives down the road from me, no litterally at the bottom of Newtown road and around the corner. He has just bought a 996 carerra. we had a long talk in between races at Castle Combe. Where most money changes hands is in in the civil liability claims. Car from insurer A has RTC with car insured by Insurer B, B is found at fault and driver A makes a civil claim. Mean while Car C hits car A and A is at fault so C cliams from A. The B is hit by C so be claims and round it goes. No net profit and referral fees (and creating a paper trail). has an upward impact on our premiums, but net net they lose money on vehicle insurance because of all the out of pocket expense claims, and trying to retain their share of the market. As a rule insurance ecompanies, that is to say underwriters don't usually go bankrupt but they have fingers in so many pies. I am not explaining it very well, when I was talking to john I didn't know it was going to be an exam question later on; the key fact that stuck in my mind was him saying most motor vehicle policies run at a loss, in isolation, but then 34 millions cars, probably more than the number of domiciles in the UK (pop circa 68 mill, and at two per home average that would be 34 million homes) and how often do home owers claim. I don't want to tempt fate but I know of a property that has not made an insurance claim for the best part of thirty years. so add up all those 34 /month premiums and that is a fair chunk of money. Mind you their eyes will be watering this week. Or maybe John was just full of poo but I doubt it.

924nutter · Oct 29, 2013

Further more more when I did £8,573 poundsworth of damage to my 928, when i ran out of talent, I wa spaying about 400 a year fully comp and my maths say that £8.5 k is 21 years worth of premiums, but I passed my test in 1986 and clouted the armco in 2004 so net net they were out 1200 sovs. probaly more because that is in round numbers and i think my 924 started at 385 and only reached 400 when I got my 944s and thats all it takes. Look at all those lat emodel car wrecked today. No way the paid premiums will amount to the" beyond economical repair" value of the damaged vehicles.

chriscoates81 · Oct 29, 2013

I get what your saying I was just thinking about all the 17 year olds with 500 quid bangers paying 2 grand for insurance. I wasn't seeing the bigger picture. I wasn't being weird earlier, sometimes posting on a forum is difficult 2 convey exactly what I mean.

924nutter · Oct 29, 2013

In that narrow field of "my stereo is worth more than my car (why?) and I will be deaf from subsonic thuds by the time I am forty", it may well indeed be true. and I commend the companies for realising where the risk is and adjusting premiums accordingly. I didn't think you were being wierd, just putting up a standard challenge for supporting evidence for what at first might seem like an incredible statement. Your incredulity and my reply may have helped others to form an opinion different from the percieved wisdom, and perhaps make them greatful that their premiums are not even higher.

What I diddn't tell you was that prior to that I wrote off a golf GTI mk 1 quite comprehensively, but due to being an unsupervised provi holder I did not make a fraudulent claim. I have learned my lesson from that, some would say it knocked some sense into me and I wouldn't disagree. Had I been all legal and made a claim, again, paid premiums would not have covered the value of the car, circa £ 4500. It had been a disposed of company car valued at £3000 by the company I worked for, but on the forecourt it would have been £5,500. It was only four years old and in top nick. I can't remember how much the premium for the Golf was. I was on a beetle before at about £165 then the golf was a bit of a hike to something like £250. Then of course when I passed my test and got the Audi 80 GLE (1600 gti engine, four doors, a boot and a 15 gallon tank) the premium shot up to close to the £400 mark, becasue of my history and IIRC the 924 was actually £408.