Modifications and NCD
Discussion
Two questions -
My AM has 5 optional extras fitted on it by AM at the factory - rear lights, front PDC etc.
Do these constitute Modifications and subsequently need to be declared to my insurance, or are they reflected in the declared 'insurance value' level?
Secondly, 25 years company car NCD, but only 1 year private NCD. Anyone out there who will account for the company car NCD ???
My AM has 5 optional extras fitted on it by AM at the factory - rear lights, front PDC etc.
Do these constitute Modifications and subsequently need to be declared to my insurance, or are they reflected in the declared 'insurance value' level?
Secondly, 25 years company car NCD, but only 1 year private NCD. Anyone out there who will account for the company car NCD ???
It's a grey area - the insurers want to know, as if you were to of specified the 22" pimptastic wheels, it might increase the risk of theft, or the cost of a repair - however on the other hand it's very difficult to find out what your cars options are (for example, maybe there was a special edition which had all these included etc) and so most people don't bother.
If you declare the modifications then there's every chance that your insurer won't want to know leaving you scratching around trying to find someone who will. If you don't declare them, and you need to claim, then sleepless nights are a given whilst your claim is processed.
You have one thing going for you in that the 'upgrades' were, I'm assuming, fitted before taking delivery. It may sound ridiculous, and indeed it is, but if you get the upgrades fitted retrospectively then expect a nightmare in sourcing cover.
If you have problems then pm me and I'll put you in touch with a company that will cover you, for a price!
You have one thing going for you in that the 'upgrades' were, I'm assuming, fitted before taking delivery. It may sound ridiculous, and indeed it is, but if you get the upgrades fitted retrospectively then expect a nightmare in sourcing cover.
If you have problems then pm me and I'll put you in touch with a company that will cover you, for a price!
No Im quite sure you do not need to declare these as modifications. They are factory options. 99.9% of all cars produced have one or more options fitted.
Dealer fit upgrades are a different matter as are aftermarket tuning modifications such as larger wheels or neon pimping underlights!
All that needs to happen is that you reflect the car as spec'd at the factory in the insured value, but keep in mind that most options rarely add value to a car!
Dealer fit upgrades are a different matter as are aftermarket tuning modifications such as larger wheels or neon pimping underlights!
All that needs to happen is that you reflect the car as spec'd at the factory in the insured value, but keep in mind that most options rarely add value to a car!
Edited by Adam2S on Wednesday 2nd March 17:12
Jockman said:
Two questions -
My AM has 5 optional extras fitted on it by AM at the factory - rear lights, front PDC etc.
Do these constitute Modifications and subsequently need to be declared to my insurance, or are they reflected in the declared 'insurance value' level?
Secondly, 25 years company car NCD, but only 1 year private NCD. Anyone out there who will account for the company car NCD ???
Your best bet is to ask your insurer straight out whether factory fitted optional extras count as modifications that must be declared. It's all down the wording of your specific policy. There's no universal answer. My AM has 5 optional extras fitted on it by AM at the factory - rear lights, front PDC etc.
Do these constitute Modifications and subsequently need to be declared to my insurance, or are they reflected in the declared 'insurance value' level?
Secondly, 25 years company car NCD, but only 1 year private NCD. Anyone out there who will account for the company car NCD ???
Thanks for the info so far you guys.
I've spoken to Locktons through my AMOC membership and they have confirmed that they use Chubb policies (probably the best on the market?) for all their AMs and Ferraris, and Factory Fitted Optional Extras are definately NOT regarded by them as Modifications.
They are not overly interested in NCD. What matters to them is your age (over 45 = the max 20% discount), your membership of AMOC (on their database), your mileage (3,000pa, 5,000pa, 7,500pa etc) and the car value (flat rated every £5K) which can be tailored to any amount stipulated by your dealer or service engineer. Excess is £250. Full UK and European Cover. Full Track Day Racing Cover. Full European and UK Breakdown Assistance (excl home start so you would need to push the car until it was 1 mile from your house).
They don't give a monkeys that I don't have a garage as the trackers fitted to new DB9s mean they always get the car back.
You wouldn't believe the price !!
I've spoken to Locktons through my AMOC membership and they have confirmed that they use Chubb policies (probably the best on the market?) for all their AMs and Ferraris, and Factory Fitted Optional Extras are definately NOT regarded by them as Modifications.
They are not overly interested in NCD. What matters to them is your age (over 45 = the max 20% discount), your membership of AMOC (on their database), your mileage (3,000pa, 5,000pa, 7,500pa etc) and the car value (flat rated every £5K) which can be tailored to any amount stipulated by your dealer or service engineer. Excess is £250. Full UK and European Cover. Full Track Day Racing Cover. Full European and UK Breakdown Assistance (excl home start so you would need to push the car until it was 1 mile from your house).
They don't give a monkeys that I don't have a garage as the trackers fitted to new DB9s mean they always get the car back.
You wouldn't believe the price !!
I have never declared anything that was spec'd at factory and would give the insurer a bloody good fight if they ever tried to question it on a claim. To me a modification is something done once the car left the factory. If it arrived new with it then it was not a "modification" and should be covered as standard.
UH-Matt said:
To me a modification is something done once the car left the factory. If it arrived new with it then it was not a "modification" and should be covered as standard.
Completely agree with that.But just been thinking, if the argument is that modifications make a car more desirable, therefore more expensive to insure, then the same argument should apply to your choice of colour. Some colours definitely affect the desirability.
And all those modded Saxos? Definitely much less desirable, so they should be charged less for their insurance!
Jockman said:
Steve - your profile will no doubt be completely different to mine, but the saving is almost 38% as compared to the next nearest quote.
Open to suggestions if you think I should look at something else.
Jockman, give A-Plan a go. Ask for, and only speak to, Claire Ironside on 01635 874646. Tell her that you were recommended by another Aston owner who also has a Merc ML and she'll know who I am.Open to suggestions if you think I should look at something else.
They still cover the ML63 for me but the issues concerning the Aston started after the modifications were added, hence the need to move elsewhere. As previously stated, you have them fitted from new so they shouldn't be an issue.
As far as my profile goes, 49, full no claims, Warwickshire postcode, 6000 miles pa. A-Plan were quoting sub £500 for the last 3 years but I believe that may have increased marginally for 2011.
What I'm having to pay now, with 'upgrades' is nearly three times that
This is a timely subject as I'm just about to modify my car and I hadn't really considered the insurance Aspect.
I'm simply changing the wheels, sills and diffuser, so purely cosmetic. So, I just gave my insurance company a call. They stated that 'modified' means anything that's changed on the vehicle AFTER it's left the factory, even if those changes are manufacturer options (as in my case) or dealer fitted.
I know that the changes which I am about to make will not add to the value of the vehicle in any way when i eventually come to sell the vehicle and neither will they be reflected in the value of the car should it be written off. So is there much point on notifying the insurance company?
And, as the vehicle gets older, how do owners know whether the vehicle has been modified?
I found out recently for instance that my 7 spoke wheels are 5 months newer than the vehicle itself, so at some point was 'modified' by the first owner (a dealer in thi case) but it's taken 4 years to find this out.
It is indeed a grey area...
I'm simply changing the wheels, sills and diffuser, so purely cosmetic. So, I just gave my insurance company a call. They stated that 'modified' means anything that's changed on the vehicle AFTER it's left the factory, even if those changes are manufacturer options (as in my case) or dealer fitted.
I know that the changes which I am about to make will not add to the value of the vehicle in any way when i eventually come to sell the vehicle and neither will they be reflected in the value of the car should it be written off. So is there much point on notifying the insurance company?
And, as the vehicle gets older, how do owners know whether the vehicle has been modified?
I found out recently for instance that my 7 spoke wheels are 5 months newer than the vehicle itself, so at some point was 'modified' by the first owner (a dealer in thi case) but it's taken 4 years to find this out.
It is indeed a grey area...
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