Insurance

Angreal · Post by **Angreal** » Wed Jul 25, 2012 7:20 pm

Poo. I rang up my current insurance company to let them know everything I've put into the car and plan to put into the car and the supercharger pushes it outside their underwriting policy...

I guess that translates to me having no cover in a few months time when I finally get everything into the car.

Can anyone recommend an insurance company to cover what is now classified as a "heavily modified" vehicle

I never planned to make my car anything but stock but I've tripped and fallen down the cliff that is adding stuff to the car? Personally I wouldn't call it "heavily modified", I'd call Donovan's car heavily modified though

25 years old and looking for 3rd party only (I don't plan on driving into anything and I don't intend to get it stolen - work and home are quite secure).

Snapfrozen · Post by **Snapfrozen** » Wed Jul 25, 2012 7:22 pm

NAC or Clic.

For TPO if you have good driving history, the value of the vehicle must be quite high to push it outside their underwriting

Angreal · Post by **Angreal** » Wed Jul 25, 2012 7:27 pm

I think when I started listing how much it cost to get everything shipped here they realised hmmmm it's worth more in parts

Snapfrozen · Post by **Snapfrozen** » Wed Jul 25, 2012 7:37 pm

Check the policy wording. Will have a price limit for parts available OUTSIDE NZ, if there is even a limit. Its unlikely they will replace something that you cannot buy here.

SLYDIT · Post by **SLYDIT** » Wed Jul 25, 2012 7:51 pm

i'm with AMI.... no probs with the turbo

Angreal · Post by **Angreal** » Wed Jul 25, 2012 7:53 pm

Sweet. I'll look around over the next few months and it shouldnt make too much differencei would've thought seeing as I was after 3rd party only

punkoutnz · Post by **punkoutnz** » Wed Jul 25, 2012 8:02 pm

DO NOT go for NAC, State or NZI. I have heard great things about Vero and Club Auto.

Donovan · Post by **Donovan** » Wed Jul 25, 2012 8:03 pm

I was with AMI for my car when it was stock, along with all my other cars, funnily enough they didn't want to touch once I told them what was going into it.

So have done the insurance via John Rae Insurance (http://www.jri.co.nz/) the guy there is a car nut, so is pretty understanding. They insured all the parts when it was in the build phase, and then once it was done, just told them that it was on the road, gave them the total cost excluding labour, and it is now all fully insured for 10,000kms a year at the moment, for $450 per annum (helps to be an old fart sometimes). They have the full list of bits and pieces gone into the car along with photos. So considering that is an MX5 with a 270kw (at the moment) 5.7V8 in it, don't think you should have too many problems with them with "just" a supercharger.

Snapfrozen · Post by **Snapfrozen** » Wed Jul 25, 2012 8:11 pm

punkoutnz wrote:DO NOT go for NAC, State or NZI. I have heard great things about Vero and Club Auto.

Back up with facts about insurance. By that reasoning, you rule out half of the insurance industry. Everyone underwrites the same, minor differences in policy wording, so all thats left is claims. If you have had a first hand experience, share it

siren676 · Post by **siren676** » Wed Jul 25, 2012 8:12 pm

Ive got my relatively stock mx5 insured with NAC. Im 19, no previous bad driving and have 3rd party, fire and theft for $600 per annum (only having theft till ive got a hardtop for it)

Snapfrozen · Post by **Snapfrozen** » Wed Jul 25, 2012 8:12 pm

Donovan wrote:I was with AMI for my car when it was stock, along with all my other cars, funnily enough they didn't want to touch once I told them what was going into it.

So have done the insurance via John Rae Insurance (http://www.jri.co.nz/) the guy there is a car nut, so is pretty understanding. They insured all the parts when it was in the build phase, and then once it was done, just told them that it was on the road, gave them the total cost excluding labour, and it is now all fully insured for 10,000kms a year at the moment, for $450 per annum (helps to be an old fart sometimes). They have the full list of bits and pieces gone into the car along with photos. So considering that is an MX5 with a 270kw (at the moment) 5.7V8 in it, don't think you should have too many problems with them with "just" a supercharger.

The age thing will play a huge part too. You will have a substantial driving history, where being around 25, you are still considered to be the devil to insurers

punkoutnz · Post by **punkoutnz** » Wed Jul 25, 2012 8:26 pm

Snapfrozen wrote:
punkoutnz wrote:DO NOT go for NAC, State or NZI. I have heard great things about Vero and Club Auto.
Back up with facts about insurance. By that reasoning, you rule out half of the insurance industry. Everyone underwrites the same, minor differences in policy wording, so all thats left is claims. If you have had a first hand experience, share it

Yeah I rule out anyone owned by IAG. I've had issues with NZI personally after having to make a claim for a stolen car and then battling them every step of the way with getting it sorted after the car was recovered (not to mention the rights that I had (like choosing my own repairer in my own area, not the other side of the country) that they didn't let me know I had. I've had a mate have a similar sort of issue with State, and a friend with NAC had to wait nearly 6 weeks for being paid out after his car was stolen.

I was without a car for a little over 3 months while I waited for them to process my claim and finally have the repairs (which were minor) done to the car before I could have it back.

This is in stark contrast to a friend who's car was stolen just days before mine was stolen (awkward coincidence) and is with VERO and his claim was processed, and money was in his hand to get a new car before my insurance company even managed to get back to me about my claim.

We also wont deal with any claims from IAG as a repairer because we've had so many issues getting money out of them for repairs we have done (in the marine industry).

Anecdotal enough?

ham · Post by **ham** » Wed Jul 25, 2012 9:23 pm

I'm an old fart to but AMI didn't bat an eye re supercharger etc

Snapfrozen · Post by **Snapfrozen** » Wed Jul 25, 2012 9:35 pm

punkoutnz wrote:Long story

Yeh for sure, and fair enough. I just don't think 1 claim constitutes telling people to avoid a company full stop. His only options if they are declining due to risk are NAC/Clic (Both IAG owned), hopefully theyre declining due to cost of internationally sourced parts.

I'll admit with AA with 1 small claim, I had a great experience, 1 week start to finish and they went an extra mile and fixed non claim damage. When the car was written off however, 3 months later I finally got the money

Donovan · Post by **Donovan** » Wed Jul 25, 2012 9:41 pm

Snapfrozen wrote:You will have a substantial driving history, where being around 25, you are still considered to be the devil to insurers

Your assuming my driving history is a good one

Snapfrozen · Post by **Snapfrozen** » Wed Jul 25, 2012 9:55 pm

It has to be pretty bad to be refused insurance. Setting terms is one thing, but shy of convictions/fraud or SERIOUS driving offenses recently, you can usually still be offered cover

Angreal · Post by **Angreal** » Wed Jul 25, 2012 10:12 pm

I have never claimed with a car but I can vouch for Vero if you have a motorbike... Crashed it, got repaired no problems and then the blasted thing got stolen 4 months after I finally got back on the road

I guess I can always just quote that the parts were very cheap to get a hold of and install rather than the truth - combined total cost being much more than the car is worth. I knew a swift would have been cheaper in the long run

Ah well, I've got time to sort stuff out.

dylann · Post by **dylann** » Wed Jul 25, 2012 10:20 pm

Have never had any problems with AA insurance, apart from classic cover as they wouldnt insure my ke30, but thats a whole other story.
My mx5 has 3rd party fire and theft, modifications lowered and mags. Think its around 360/390 a year? Im 18 and ive had a crash 2 years ago, theyre pretty leniant with everything to be honest

Furai · Post by **Furai** » Thu Jul 26, 2012 1:13 pm

Club Auto all the way. Im 18 and insured full cover for my car at just under a grand a year.

Born_disturbed · Post by **Born_disturbed** » Thu Jul 26, 2012 1:33 pm

Born_Disturbed wrote:Insurance all updated.
With Clic
MX5 - 59.83 Per Month
BD - 78.98 Per Month

With NAC
MX5 - 87.54 Per Month
BD - 97.13 Per Month

Both expensive but Clic ftw!

Did this about 2 weeks ago, both on full cover

Angreal · Post by **Angreal** » Thu Jul 26, 2012 2:11 pm

I suppose I shouldn't expect to pay $120/year for 3rd party cover anymore

Zadkiel · Post by **Zadkiel** » Fri Jul 27, 2012 3:13 pm

Your hard pressed to avoid IAG these days, they are over half the market. For third party only most companies should cover you despite the mods, who were you with?

The not covering a KE30 on classic cover with AA Insurance is funny to me. I know exactly why that was, they have a very poor rule set for classics.

Angreal · Post by **Angreal** » Fri Jul 27, 2012 3:56 pm

AA. I guess I should ring up and get a quote for all the parts but just say I got them all as a super cheap bundle off trademe for 1k

Toolbox · Post by **Toolbox** » Fri Jul 27, 2012 8:46 pm

I went though JRI too, The Insurer is Classic Cover Insurance Limited.
Insured for $12,000 cost $384.19 per year plus $5,000 for spares, parts & accessories not actually fitted to car, full glass cover

Snapfrozen · Post by **Snapfrozen** » Sat Jul 28, 2012 6:18 pm

Toolbox wrote:I went though JRI too, The Insurer is Classic Cover Insurance Limited.
Insured for $12,000 cost $384.19 per year plus $5,000 for spares, parts & accessories not actually fitted to car, full glass cover

Agreed value or market value? And is there a limit on km's you can travel?

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