butter Posted April 19, 2017 Share Posted April 19, 2017 Hi all, Recently been having an absolute nightmare getting insurance for my Z, the mods kicked in within a week and new exhaust was on only to find out my insurance company won't cover me with ANY mods. So, off I went to cancel & am currently waiting my refund. Had a look at Admiral and with mods they initially offered me £1850 on comparison sites, did a separate quote on their site with my car value being £5500 (price I paid) and they offered £1635 with mods. Now, when I change my cars value to £9995 (just to see how it influenced it) I was shocked to see it dropped to £1495 and then changing it another £250 it dropped to £1414 with mods. I have spoken to a chat operator called Phill who said "If you think the car is worth that, that's what you put as only you will know the value of it" which I interpreted as "yeah, put it to 10k if that's what you think it is" Is this a big no no? I'm aware they'd only ever pay out market value in the event of a crash but would I changing the value be voiding my policy at all? I don't want to be doing anything illegal so to say Cheers Quote Link to comment Share on other sites More sharing options...
Ekona Posted April 19, 2017 Share Posted April 19, 2017 I see no reason to not do that, tbh. If their system is that screwed up that by declaring a value higher than the car is it reduces your premium, go for it. Like you say, they're only going to pay out market value anyway. Just be aware that Admiral don't cover replacements of your mods, so if you bin the car you'll only get a standard exhaust put back on. Quote Link to comment Share on other sites More sharing options...
Si8pny Posted April 20, 2017 Share Posted April 20, 2017 Yeah most main stream insurers like Admiral are market value insurers only so regardless of what you value the vehicle at you will only receive market value for a payout. You not tried going with a modified specialist? My track car is with Adrian Flux and its so cheap. Quote Link to comment Share on other sites More sharing options...
Randy_Baton Posted April 20, 2017 Share Posted April 20, 2017 I've got an agreed value policy with Adrain Flux only cost me ~£50 to add the agreed value Quote Link to comment Share on other sites More sharing options...
butter Posted April 20, 2017 Author Share Posted April 20, 2017 Yeah most main stream insurers like Admiral are market value insurers only so regardless of what you value the vehicle at you will only receive market value for a payout. You not tried going with a modified specialist? My track car is with Adrian Flux and its so cheap. I've got an agreed value policy with Adrain Flux only cost me ~£50 to add the agreed value Adrian Flux was my first port of call, they offered me a ridiculous £4000 WITH mods. No idea why it was so much more expensive. Third lot of insurance in 3 weeks unfortunately, said they'd cover mods and when it came to it weren't interested. Admiral has been the most reasonable and as of last night, I have noted my Z is worth £10200. This dropped my car almost £490 Quote Link to comment Share on other sites More sharing options...
rabbitstew Posted April 20, 2017 Share Posted April 20, 2017 Admiral has been the most reasonable and as of last night, I have noted my Z is worth £10200. This dropped my car almost £490 Just shows how inconsistent insurance companies are. For my Ducati, changing the value from £4000 to £6000 actually INCREASED my premium... even though ive only got it insured 3rd party only - so it makes no difference what so ever what the value of the bike is as they will NEVER pay out on it!! Even the insurance guy on the phone couldnt explain that one to me. Quote Link to comment Share on other sites More sharing options...
DAN@ADRIAN FLUX Posted April 21, 2017 Share Posted April 21, 2017 Yeah most main stream insurers like Admiral are market value insurers only so regardless of what you value the vehicle at you will only receive market value for a payout. You not tried going with a modified specialist? My track car is with Adrian Flux and its so cheap. I've got an agreed value policy with Adrain Flux only cost me ~£50 to add the agreed value Adrian Flux was my first port of call, they offered me a ridiculous £4000 WITH mods. No idea why it was so much more expensive. Third lot of insurance in 3 weeks unfortunately, said they'd cover mods and when it came to it weren't interested. Admiral has been the most reasonable and as of last night, I have noted my Z is worth £10200. This dropped my car almost £490 Hi. I'm sorry we couldn't help out. If you wanted to PM me your details though I'd like to take a quick look at the quote to see why it's so expensive. Regards, Dan. Quote Link to comment Share on other sites More sharing options...
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