Classic Insurance on modified Esprits.. Be aware.!

[CHANGES]

Hi all...

My policy renewal came through recently with a bit of a shock..

I have always declared the ''Changes'' i have made to my Esprit and

as a result paid circa £750.oo on a classic policy... 

However every 3 years the underwriters reassess a classic and its value.

While doing this, but maintaining the same value insured, the policy increased

by just over 40% to £1082.54..

I was told it was due to the modifications....I explained i already had declared

them and paid inflated policy as a result over the last 3 years... The answer

was the 'Esprit along with its power and all changes' had been re-evaluate and

as a result the new premium now applied..

I contacted all other insurers to clarify the situation with much the same result from

all of them..  ( only to be expected when they us the same underwriters )

After long in depth discussions it became apparent things that could be construed

as recognised upgrades, ie, interior brakes exhaust and wheels along with some

body mods have little or no effect on the premium . However when collectively

assessed with performance enhancement you are screwed..  

As a result I have limited options with classic insurance on my Esprit...  

So just be aware and clarify with insurer before making 'changes' if you don't want

to get caught in the same trap as me....  

 

Dave.

 

PS. I still would do it all the same, regardless of the cost....

  

 

[cbclotus]

Hope you get it sorted .Mike

[steve930]

scumbags the lot of em

 

My brother built this corvette pickup truck (with a bit of help from me)  As well as all the body mods, the car is now running a big block v8 diesel engine with rear mounted turbo's plus a whole host of upgrades to suspension/brakes etc.

As he is in the motor trade the car is covered under his traders policy, in addition to this the car is on an extension within that policy listed as highly modified/permanent fixture to the policy.  He sent in detailed photos of the car accompanied by written reports of every modification carried out, all was accepted and approved.

 

Whilst staying the evening at a new girlfriends house (car parked in road) someone crashed into the o/s frontal area and sped off, no details witnesses etc.

 

He contacted his insurers who sent out an assessor, who has now declared the car was more modified than they thought, as a result have chosen not to honour the claim!!

The biggest farce of this is that the damaged front bonnet/clamshell is still completely standard/as it left the factory.  Needless to say this dispute is still ongoing!

 

Trying to add a picture but something keeps freezing up on the forum!!

Edited January 18, 2014 by steve930