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Insurance for modified cars


SpeedySub
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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?

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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.

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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 by loner
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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.

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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.

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  • 3 months later...

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?

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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. 

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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? 

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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

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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.

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