Insurance for modified cars

[SpeedySub]

Hey all

 

I have never owned a heavily modified car so have never had to insure one. But looking to get a weekend/track day/play car and wanting to know how you guys get on with insurance. I was thinking that I might go for 3rd party if I do get a car and pay for any damage to my car myself (if that happened).

Im with State at the moment and I have found them good to deal with, but not sure on the modified vehicle front.

Also how much do you tell them about your mods. I.e do they need to know if you change turbo or exhaust?

[chulozumo]

State. I've been shopping around and currently no on wants to bloody insure me for the RA-R since I'm not 25 yet. State has been great for me and are one of the few that actually do agreed value.

 

Even my broker can't get me a better deal 

[SpeedySub]

Will definitely see what state can do. They paid out sum insured within days in my claim and we're sweet with the sum insured on the new wagon.

 I'm guessing that technically you would need to advise them on any thing that's not stock from factory. What about ecu  changes or things that are not so obvious.

[Technikhaus]

I went through NAC for my modified FTO, as they were the only people at the time who would insure me for it.

For both of my Legacys at the moment they're insured through AMI, but neither are really modified, so unsure how they'd go with them.

[loner]

Classic Cover. Full insurance including tools and spare parts etc. No race day insurance.

 

State might not cover you if they find out the car is more modified than you told them.

They only like light suspension modifications from my experience.

Edited September 26, 2016 by loner

[boon]

+1 for Classic Cover. They cover me for virtually everything under the sun and don't really give too many F***s about how modified it is. Cheaper than mainstream insurers too.

[Guest]

1 hour ago, boon said:

+1 for Classic Cover. They cover me for virtually everything under the sun and don't really give too many F***s about how modified it is. Cheaper than mainstream insurers too.

 

How cheap is cheaper?

[boon]

5 minutes ago, evowrx said:

 

How cheap is cheaper?

'twas about $400 cheaper per year for full cover. Still a shade over $800 if I remember right though.

[SpeedySub]

2 minutes ago, boon said:

'twas about $400 cheaper per year for full cover. Still a shade over $800 if I remember right though.

Sweet, good to know , as I will have to factor insurance into my yearly car budget. Also was think maybe just going for 3rd party (not sure if they would do fire and theft with it) or would full cover be better? Its not going to be my daily and would rip my undies if it was stolen, but wouldn't be the end of the world.

[loner]

Full cover. It's not an option really when you own one of the most crashed and stolen cars in the country. 

[Technikhaus]

Yup, this ^

[Guest]

2 hours ago, boon said:

'twas about $400 cheaper per year for full cover. Still a shade over $800 if I remember right though.

 

Fark thats cheap

[D1Style]

 

6 minutes ago, evowrx said:

 

Fark thats cheap

 

Yeah man, that's real good!!

 

Im paying $900 for mine through ANZ bank who use Vero

[SpeedySub]

Hopefully due to my age and reasonably blemish free insurance history I might be able to get a good deal.

[loner]

I'm only paying $600 for full cover...once the car is caged you can move to their race/rally policy and it gets even cheaper. My last caged wrx was only $400/year, but that was a few years ago now. 

Edited September 26, 2016 by loner

[Andy_Mac]

16 hours ago, loner said:

Classic Cover. Full insurance including tools and spare parts etc. No race day insurance.

 

State might not cover you if they find out the car is more modified than you told them.

They only like light suspension modifications from my experience.

 

From my experience with State they didn't care what it was as long as the cost of all modifications were within a certain percentage of the total sum insured. Even asked if they cared if I chucked a whacking great big cheapo ebay turbo on it and they weren't phased as long as everything was certed.

[SpeedySub]

Sounds like I may have  a few options to explore. 

[guiltysky]

I’m with Swann- which is owned by IAG.

I pay less than $800 per year full cover annual premium for the following cover type.

 

V11 STI Spec R(Modern classic)

Supra RZ (Classic)

Civic with Type R running gear (Classic)

 

[AdamOst]

+1 Swann, i have it through a broker though.

[Batbaruman]

sorry to bump this old thread but how'd you get on @SpeedySub ? I was already with AA on my last car so stayed with them when i got my STI.. price is $119/month with $400 excess. initial online quote from classiccover was only $58 a month so waiting to hear back from them and a couple other places i've just flicked my details off to. currently really leaning towards classic cover given the pricing is very promising so far. anyone had problems with them?

[SpeedySub]

1 hour ago, Batbaruman said:

sorry to bump this old thread but how'd you get on @SpeedySub ? I was already with AA on my last car so stayed with them when i got my STI.. price is $119/month with $400 excess. initial online quote from classiccover was only $58 a month so waiting to hear back from them and a couple other places i've just flicked my details off to. currently really leaning towards classic cover given the pricing is very promising so far. anyone had problems with them?

Good bump.

 

I ended up going through State. I have my outback with them. 

My premiums are just under $500 with excess of $600 (1500 for theft).  Also I am the only nominated driver ehich keeps the cost down. 

[sultan]

Swann insurance is the best insurance company I've ever dealt with. I have 6 policies with them totalling 120k of cover and pay only 1k per year. I've made one claim a few years ago and it was hassle free

[Username]

25 minutes ago, sultan said:

Swann insurance is the best insurance company I've ever dealt with. I have 6 policies with them totalling 120k of cover and pay only 1k per year. I've made one claim a few years ago and it was hassle free

Do they do agreed value? And if they do have you got to get the car valued? 

[sultan]

Agreed value for "classic" cover. I nominated the value for each of them and they ask for pictures. If they disagree they give you a counter offer maximum. They did this for one of my cars but it was the cheapest of them all by a considerable margin (ke30 toyota at 6k they did it for 4k because it's not painted yet and looks like a heap). I have "modern classic" cover on one car which is a metallic orange bmw z4, they do market value on this type of cover

[Username]

14 hours ago, sultan said:

Agreed value for "classic" cover. I nominated the value for each of them and they ask for pictures. If they disagree they give you a counter offer maximum. They did this for one of my cars but it was the cheapest of them all by a considerable margin (ke30 toyota at 6k they did it for 4k because it's not painted yet and looks like a heap). I have "modern classic" cover on one car which is a metallic orange bmw z4, they do market value on this type of cover

ok  thanks, I will contact them when mine comes up for  renewal.