Insurance Probs w/factory alloys

[marco]

Hi

My girlfriend is about to buy a 1999 328i SE from a main BMW dealer and the car is fitted with a few factory options from new. These include sports suspension, CD player, 18" alloys, etc.

The problem is that the best priced insurance company (Tesco) want to charge an additional £250 for modified wheels; asking how much we would value them at and so on. I explained that they were chosen from a standard list of options and fitted as new but no difference.

As a huge number of BMWs have this factory wheel option can I ask if any of you have experienced the same problems? Did you just not mention it (the value of them being reflected in the car value anyway) or did your companies accept them as standard.

Thanks


Marco

[Gibo993]

Seems crazy to me, if its an option from BMW it is 'standard'
So every car with uprated air con and better stereos should not be covered then.

I would speak to the supervisor as Iam sure it must be a mistake.
Privilge are basically the same insurance company, try them.

Love to know the outcome.

Grant

[getcarter]

Thay are 'avin a laff.

Whenever I've been quoted for car insurance they have asked 'has the car got any modifications?' - not 'did you spec the black leather interior?' - just tell them the car is in it's factory spec - and has no modifications.

Also - try the NFU (National Farmers Union) - I know, it sounds daft, but I insure 2 Beemers with them (inc an M3) and they were way cheaper than Tesco).

Steve

[rocket]

I had 18" MVs fitted to my 328 when I bought it (secondhand). I tried www.elephant.co.uk for an insurance quote, and on their website you get to select things like optional extras, non optional extras, etc. It did make a little difference to the premiums, so I guess if you didn't mention it, it could make a difference if you had to make a claim. I didn't actually go with elephant in the end but they did come up with a very competitive quote within a matter of minutes.

Cheers,

Neil

[markda]

Try Chris Knott Insurance, there a little more human and understand simple opional extras

[agent006]

Sounds like you're using the wrong insurance company. In my exparience, tesco really don't want to know about anything better than a mondeo.

[cotty]

My 325i has so many options its almost an SE. It also has X Spoke alloy wheels and M Tec front spoiler, M Tec leather steering wheel and an interior dividing net all specced at the factory.

As far as im concerned the car hasent been modified it is as it left the factory.

Paul

[cotty]

agent006 said: Sounds like you're using the wrong insurance company. In my exparience, tesco really don't want to know about anything better than a mondeo.

I tries Elephant, Admiral and Tesco all of which are quoting £100 more that im paying now which is £100 more that I paid on my TVR S1

[M-Five]

cotty said: My 325i has so many options its almost an SE. It also has X Spoke alloy wheels and M Tec front spoiler, M Tec leather steering wheel and an interior dividing net all specced at the factory.

As far as im concerned the car hasent been modified it is as it left the factory.

Paul

But surely if you specified these 'options/extras' you must admit to knowing it is not 'standard'. Or are you saying your car is identical to every other 325i that came from the factory with no option extras.

I wouldn't want to be in your shoes if the insurance company refuse to pay out when your option wheels are nicked, or agree to only replace them with 'factory standard' wheels,

The insurance company would be entirely within its rights to replace your car with (or cheque to the value of) a 'factory standard' model if yours was ever written off.

Knowing the way insurance companies work these days they will try anything to get out of paying.

[Cotty]

M-Five

Hhhmmm interesting point. I purchased the car second hand so did not spec it. Not sure if ignorance would be an adequate defence.

I will ask my dad for guidance . He is an ex motor claims manager but one of the good guys stopping people ripping of insurance companies and pushing premiums up for all of us.

Paul

[Cotty]

Gibo993 said: Seems crazy to me, if its an option from BMW it is 'standard'
So every car with uprated air con and better stereos should not be covered then.
Grant

I suppose if it is an option then in a way it is a modification from standard but then what if the car comes with alloys as standard, do the insurance companies price there policies knowing what the car is sold with as standard.

am seeking clarification

Paul

[getcarter]

My insurance company has no interest in what spec the car is, just if it has had post factory modifications. They are only interested in the replacement cost of the car (which of course will include any options, be they Sat Nav, Leather or indeed posh alloys).

My other half decided to write off one of ours earlier this year (a tree jumped out and hit her) - there was no inquest into what wheels were on the car - they just sent out a bloke to make sure it was a write off, then looked in 'Glasses Guide'... knew that it had £2ks worth of factory extras fitted - and offered me a sum. I told them they were 'avin a laff... so they came back with a better offer, and I banked the cheque.

It did as a matter of interest have better wheels than standard - but that was reflected in the price I told them the car was worth.

I can see that if you don't spec posh wheels, then they get nicked - you won't get as much dosh... but getting charged more money in a premium on 2 different £20k cars, just because one has a different factory spec... I can't see it.

..or maybe I'm missing something? (wouldn't be the first time)

Steve



>> Edited by getcarter on Wednesday 20th November 21:35

[M-Five]

getcarter said:
I can see that if you don't spec posh wheels, then they get nicked - you won't get as much dosh... but getting charged more money in a premium on 2 different £20k cars, just because one has a different factory spec... I can't see it.

What I meant was if you have two cars bought from the dealer, one with £2k-£3k of optional extras, and one bog standard, then surely one premium would have to be based on a value of 'cost-of-car' + 'cost-of-options' vs just 'cost-of-car'?

Hence if you tell the insurer that it is a standard car the premium will be based on the cost-of-car only . . . you would lose out on the 'cost-of-options'.

Unless you get an areed value policy, you will be offered 'market value' for it (i.e. Glass's guide trade-in price). Then you have to go out and find another standard car and pay the extra yourself to get the spec you originally had.

[joust]

agent006 said: Sounds like you're using the wrong insurance company. In my exparience, tesco really don't want to know about anything better than a mondeo.

My Noble's insured with Tesco! Best quote I got. They knew all about it and had no issues - unlike a large number of other insurance companies...

J

[markda]

Scrap my last comment about Chris Knott they have just called me today to say they still havent sorted out my vehicle change from 6 weeks ago

Apparently the insurance company is saying the 350.00 rebate they gave me was incorrect and in fact they want all but 19.00 back!

Erh? I have just downgraded from a group 19 car to a group 15-16, how they hell do they work that out.