General insurance issue

[jw2015]

I've just taken a close look at my policy, 2 weeks after it started . My excuse is I've just become a boxster owner so I've been a wee bit distracted.
I was suprised to find out that the insurance company considers optional extra manufacturer alloys as modifications so, being the honest sort, I phoned them to inform them that the carrera alloys on my 03 boxster were not standard. They asked me for 10% extra on the premium but informed me that they won't cover the upgraded alloys. If my wheels get stolen I get them replaced by the standard 16" jobbies. I think this is a bit of a cheek, they charge me a lot extra for the increased risk of having my wheels stolen but they then won't cover anywhere near the full value of the wheels, which are after all an integral part of the market value of the car. Is this a normal exclusion or are Admiral's policies a bit less than comprehensive and should I be looking elsewhere for insurance?

 

[Dapster]

Cheeky barstewards!

If they will only replace the Carreras with standard ones, then presumeably they will only replace the standard ones with standard ones as well - in which case why tell them you have Carreras? Save yourself 10% and hope no-one nicks your wheels.

Just checked my policy with Elephant - no such restrictions.

 

[Mark_Bennett]

Admiral charged extra for the STANDARD FIT alloys on Claire's Seicento Sporting!
You can't get it without alloys, but they charge extra over the insurance figure for THIS CAR, because it has alloys!

Muppets.


My Boxster S was insured for a Value - the options on it were all OK as long as they are Porsche ones (even if fitted after).
At least that is what the original insurers said... Hope the current ones are the same![&:]

 

[thboxster]

Well i'm shocked[] No seriously.

Don't quite know what mine says, but I will without hesitation have read when I get home. I have a suspicion that it's down to the insurer as whether they cover things or not. I remember having conversations in a similar area.

I mean lots of cars are in effect limited editions. Mine has got 17" sport classics, you don't see many of them about. But what about the anniversary edition, not many of them about either, but would that constitute a non-standard? I would hope you could argue that the car came from the dealer in the state you have got it now and therefore it's not been customized.

Quite shocked.

 

[jw2015]

Dapster, you're going to hate me but based on what you said I went for an online quote from elephant and found they also have the same restriction for optional alloy wheels (along with a long list of other cosmetic & performance otpions). They'll only replace optional alloys with standard wheels, according to the online quote.
So far morethan & axa are the only ones I've encountered that replace like for like as long as they're manufacturer supplied and locked (but unfortunately neither of them are ok for other insurance criteria I have at the moment - two cars & both parked in street).

 

[Guest]

ORIGINAL: jw

Dapster, you're going to hate me but based on what you said I went for an online quote from elephant and found they also have the same restriction for optional alloy wheels (along with a long list of other cosmetic & performance otpions). They'll only replace optional alloys with standard wheels, according to the online quote.
So far morethan & axa are the only ones I've encountered that replace like for like as long as they're manufacturer supplied and locked (but unfortunately neither of them are ok for other insurance criteria I have at the moment - two cars & both parked in street).

I am insured with AXA, and it would seem from my experience they replace like for like as JW claims. They also insure both my cars, although they are parked on a driveway not the road, but I wouldn't have thought that would make much difference!

 

[TopBear]

ORIGINAL: Dapster
Just checked my policy with Elephant - no such restrictions.

I would check it again, as Elephant are the 'internet arm' of Admiral, and I changed from them last year for the same reason.
Basically they will load your premium for each of the non-std spec extras, and worse still not cover the replacement of them should your car be written off (1st year new for old in my case). They will only replace it for the stdasic spec car, and you would have to find the extra money (GAP ins?) to spec it back up again.
I switched to an ins company that would replace the car in its entirety for the exact same as the invoiced spec.

I ended up going with eSure in the end as I got it confirmed from the underwriter, not just the telesales agent that the optional factory fitted extras were covered within the premium. Its a common misconception with a lot of ins co's that they cover everything, so 'cheapest premuim' might not be the 'best policy'

 

[JCB..]

Its a common misconception with a lot of ins co's that they cover everything, so 'cheapest premuim' might not be the 'best policy'

That, ladies and gentlemen, is very sound advice. A lot of people only find out how good their policy really is when it's too late.

JCB..

 

[Dapster]

Hi guys

Earlier this year I was unfortunate enough to clonk the car against the armco of the A12 - the Elephant assessor checked the car and gave the OPC the go ahead for the repair that included the replacement of a damaged alloy - a 17" Boxster alloy on a 01 2.7. At the time I had no idea that I may not be covered for the fact that it was not a 16" standard one.

Either this restriction is for theft only, or the assessor spends his time looking over Mondeos and Astras and is confused by the plethora of wheel options on a Porsche. Having to shell out the difference between the 16 and 17" if they get nicked is one thing (and considering the 10% extra on the premium, my opinion is it's not worth it) but the company washing their hands of a claim because of undeclared extras is something else far more serious.

Thanks for alerting this to me - either the Elephant guys made a mistake or I need to make more detailed enquiries.

 

[GreigM]

I can also confirm that all the Admiral Group companies (admiral, elephant, diamond etc) have this policy. They ASSUME you are buying a base-spec, 0-option car and you MUST declare all factory fitted options - wheels, leather, air con etc..... I was with them for a while but changed because of this. I also asked them if they would give me a discount for fitting PSM as an extra safety device......guess what the reply was.....optional extra, that'll be £10 more sir!

Try liverpool victoria, they don't restrict mileage, cover the full car (including options), doesn't matter if the car is garaged/driveway and customer service seems good so far. Only £50 more expensive than elephant for me.

 

[jw2015]

ORIGINAL: Dapster

Hi guys

Earlier this year I was unfortunate enough to clonk the car against the armco of the A12 - the Elephant assessor checked the car and gave the OPC the go ahead for the repair that included the replacement of a damaged alloy - a 17" Boxster alloy on a 01 2.7. At the time I had no idea that I may not be covered for the fact that it was not a 16" standard one.

I reckon wheel theft is where the problem occurs, something like a write-off would surely give you the full market value of your car, which obviously is determined in part by the choice of wheels.
I don't know how likely wheel theft is, just how good are the security bolts. Anyone ever found their Boxster without wheels? I did see a Ka recently in my area without wheels but hopefully getting a set of halford's best off a Ka is a lot easier than getting the alloys off my pride and joy. My local OPC just talked me out of a second set of locking bolts saying that it would be overkill. I suppose the weakest link is keeping the unlocking jobbie in the car at night, although the crims would have to be pretty determined to break in, find the unlocking bolt and then take the wheels off while the alarm is wailing.

 

[chrisr]

Insurance with regards to ' Modifications and Extra's ' vary greatly between Insurance company and having worked for plenty ( boo hiss ) so are very particular with what they clasify as an extra/modification, eg I use Natwest due to ex employee discounts but when I purchased my 944 ( with 17 inch 968 Cup Alloys ) Natwest although on the car at the time of purchase required an additional of premium of about £100 to cover the wheels but more importantly make any claim valid.

There are insurance companies out there who clearly in there terms and conditions will not pay on ( or they have the capabilities of not doing ) due to a modification that was already present or was added that was not standard on that car eg £1000 of Alloys could invalidate a £20,000 claim. However most companies do work on the basis of deduction from the claim but as mentioned Liverpool Vic, Direct Line do not bother re modifications - certainly cheaper is not always best.

 

[jw2015]

It gets better, I've just got absolute clarification from Admiral about what is and isn't covered under their very vaque modifications clause. Basically they consider all optional extras, except Metallic paint, as modifications. This is obviously deliberately misleading as we all know we think of stupid spoilers, big exhausts and neon lights when we're asked if our car has had any modifications.
I have been assured that I will not be reimbursed for any of the the optional extras on the car - leather, aircon, etc, etc and in the case of a write-off will only be given the value of a basic spec 03 car with metallic paint. Probably 30K as opposed to the 35K I've just paid for it. I believe Admiral deliberately mislead on this issue, epecially since I provided the market value of the actual car. The clause that screws you is not one you'll easily pick up on when you get the policy documents as they keep using the word modification
instead of saying what they mean - modifications & all optional extras except metallic paint.
Needless to say I'll be moving both cars from Admiral to either MoreThan or AXA.

 

[TopBear]

ORIGINAL: jw

It gets better, I've just got absolute clarification from Admiral about what is and isn't covered under their very vaque modifications clause. Basically they consider all optional extras, except Metallic paint, as modifications. This is obviously deliberately misleading as we all know we think of stupid spoilers, big exhausts and neon lights when we're asked if our car has had any modifications.
I have been assured that I will not be reimbursed for any of the the optional extras on the car - leather, aircon, etc, etc and in the case of a write-off will only be given the value of a basic spec 03 car with metallic paint. Probably 30K as opposed to the 35K I've just paid for it. I believe Admiral deliberately mislead on this issue, epecially since I provided the market value of the actual car. The clause that screws you is not one you'll easily pick up on when you get the policy documents as they keep using the word modification
instead of saying what they mean - modifications & all optional extras except metallic paint.
Needless to say I'll be moving both cars from Admiral to either MoreThan or AXA.

Well, you have been 'lucky' so far in that they havent asked you for more money, as your car is obvioulsy now more of a risk, now that they know you have all those tantalising extras.

 

[thboxster]

Unbelievable.

And they always say you should have read the small print. Well in your case you have and it's still not clear. Maybe one for trading standards!

 

[Ivor]

I can confirm Top Bear's post that esure covers the extras and assured me that my factory- fit options were not a problem. No extra charge either!

Unfortunately, I have now changed companies as they will not insure for track days.

 

[jw2015]

ORIGINAL: TopBear

Well, you have been 'lucky' so far in that they havent asked you for more money, as your car is obvioulsy now more of a risk, now that they know you have all those tantalising extras.

They were going to but I cancelled the policies on both our cars and moved to AXA after explaining that their 'modifications' clause was too vague. It's upped the premium about 150quid in total but at least I'm insured now , AXA's clause states modifications are anything you add other than the manufacturer's options. In fairness to Admiral, they're refunding 100% of the premium on the boxster even though I'm beyond the 11 day cooling off period. I have put my reasoning in writing to them and will be sending something to the ombudsman as I believe they are close to deliberately misleading customers. It wouldn't be difficult for them to use the phrase 'mods & optional extras' if they wanted to be clear about their cover instead of 'hiding' the fact that they're not covering optional extras.