Insuarnce - Premium Going Up for Factroy Fitted Options

[phil3012]

Insurance - Premium Going Up for Factroy Fitted Options

Just trying to renew my insurance and rang up a company to confirm the details of a quote.

They now want to charge me an extra £40 because I have the Convenience Pack fitted. Has anyone else found this for factory fitted options?

 

[uzzy]

I questioned this with my 18`s and you would think they would make the car more nickable than a flaming conveinence pack. It didn't make any difference to my premium (With Tesco). I'd ring up again and speak to someone else.

 

[Al]

I am with Adrian Flux and an exhaust and remap is only £150 over the £550 basic car price.

 

[TllEWL]

Why would you tell them / class the convenience pack as a modification ?


If you wrote it off or it was nicked, you'd have to haggle a decent price out of them anyway and if it's only in for a bump why would anyone question it

 

[JonoUK]

Who are you insured with, no one I spoke to (went with green light in the end) classed options fitted AT THE FACTORY as modifications, nor should they.

Some of them tried to at first, until I told them they weren't dealer fitted, but standard things you could choose to have fitted while it was being built.

Options, not mods.

 

[phil3012]

They asked the questions "Does it have any optional extras fitted" and I asked if that included factory fitted options and they said "Yes".

I explained exactly what it was and that it was a listed option as part of the factory spec (I reiterated this to them about 5 times) and they said anything that you pay extra for even at the factory will add to the premium. First time I've heard this as well.

Also asked, "So what if I'd bought an Audi TT instead, that is customisable at build to your spec" and they replied "Whatever options would be factored into the premium".

I have since confirmed with my current insurance company that they are happy with the options and got a quote from Adrian Flux and they both class factory fit options as part of the standard spec. Only things that increase performance or desirability can increase the premium.

They also said I should have listed this as a modification on confused.com

Either it is the policy of that company, or the guy on the phone didn't know his stuff.

 

[Bainie]

I was insured with Budget, I had a Vectra VXR , when I bought the Leon , TDi , they refused to underwrite it because of the optional extras, they said there were too many, (i also have a fair few points *lol* ) Norwich Union didn`t like it either !! Autotrader insured it through norwich union no probs though, it doesn`t make sense to me tbh ... If your asked if it has optional extras and you say no, you are in effect driving uninsured as you have not given them all the material facts ... Also on day 2 I broke the windscreen and had to get it replaced, having the auto wipers it has a moisture sensor, had I not declared it they could have refused to replace it ..

 

[ZBOYD]

The car is the value it is with its factory fitted options. My car is valued for its entire value including all factory options. I didn't need to inform them what the options were, but I have a receipt that says exactly how much my car was.

That is what they should calculate their premium on, the value of the car.

Anything other than this, such as remaps, bodykits (non factory), suspension etc are aftermarket modifications, and therefore should be calculated as modifications to the original manufacturers list.

Basically anything that add's an element of risk to the premium, non factory modifications the car may or may not of been designed for.

 

[phil3012]

I agree with Bainie, if they ask you can't not declare something.

The annoying thing is this company has phoned me 5 times to try and get me to sign up the policy. I asked for it in writing and they only sent out very basic details (basically the car and my address) not even my girlfriends details and she is a named driver. Only when I rang up to confirm the details did I find out about this changing the premium.

If I'd have taken out that quote, I'd effectively not declared everything and not been insured.

Makes me doubt how effective price comprison sites (in this case confused.com) are as they only quote off basic details.

 

[phil3012]

The car is the value it is with its factory fitted options. My car is valued for its entire value including all factory options. I didn't need to inform them what the options were, but I have a receipt that says exactly how much my car was.

That is what they should calculate their premium on, the value of the car.

Anything other than this, such as remaps, bodykits (non factory), suspension etc are aftermarket modifications, and therefore should be calculated as modifications to the original manufacturers list.

Basically anything that add's an element of risk to the premium, non factory modifications the car may or may not of been designed for.

Incidentially I'd already told them the value of the car. With the spec below it is roughly £20300 which is what I'd already stated when I got the first quote.

They were adament that factory fitted options are over and above the manufacturers standard specification and carry an additonal premium.

 

[ZBOYD]

I'd shop around. Because I'd be surprised if in the event the car was wrote off, they would include the cost of the options anyway. Even though they are asking you to cover them. They should cover the value of the market price.

I have a dim view of some insurance companies policies, it is really state sanctioned robbery in most cases, in my opinion.

 

[Jonny]

Whenever I've got insurance quotes, they've only asked for modifications & aftermarket accessories... I've never had to declare a factory fitted sunroof, or a factory fitted upgrade from air con to climate control... or even metallic paint, which again, is an optional extra Even things like upgrading from an old tape player to a CD/MP3 player, you shouldn't have to declare it as a modification as most policies cover you for £500 audio equipment as standard - they certainly shouldn't be bumping up your premium for it!

Not Lloyds TSB per chance is it? lol I'd shop around some more if I were you

 

[phil3012]

Not going to name and shame but it wasn't Lloyds TSB.

Have rung up my current insurer who were now the same price as that quote and they are fine with the options I had. Alloys etc may have been an issue though.

Adrian Flux although they couldn't match my renewal said factory fit options were fine too.

I hope other companies don't follow the same route, it will make insurance a nightmare. Often people buying used cars don't know if something is an option or not.

Was in shock when a £200 optional extra (which I argued made the car safer) bumps the premium up by £40.

 

[RCS2K4]

You think you have problems? Bah!

My insurance company (who shall not be named) REFUSE to cover my new car full stop. I'm 23, 5 years NCD, and err, 6 points

They said I have to be 25 and over to insure the Leon Cupra, so told them rather politley where to shove the policy. Things were not good anyway with them, as when I changed from the FR beezer to Cupra beezer, the premium rocketed up by over £400 a year, and my compulsary excess was increased to £1500!

Anyway, moved to Adrian Flux for the new wheels, and all for just £770 a year. I know they dont like younger drivers having fast cars, but doesn't the 5 years NCD speaks for itself as far as accidents are cincerned? Maybe my old insurance company mis-heard "Seat" and put "Ferrari" in there instead.

 

[Sooty torques]

Ouch...!

As my new FR TDI gets ever closer, thought I'd look over some insurance prices, so out of curiosity thought I'd try "gocompare" as ad'd on TV - used confused.com before and got a good deal for me and the missus, so...

First try: £275 fully comp, max NCB, 14K + 1K Business, me and the missus. As I'm over 50 I expected somewhere around £300 - £350.

Hmmm, not bad so read some of the small print, especially about "Modifications" - seems that ANY addition over the bog standard car from the options list is classed as a Modification on this site...

So goes back and adds 18" alloys and a tow bar None of the other options I've gone for are listed (Bluetooth, iPod, armrest, mats and flaps... (I kid you not)).

Sh1te!!! Cheapest quote is now £535!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Looks like I'll be sweet talking my current insurers or shopping around a LOT more.

 

[phil3012]

Some companies were fine about options in the end some weren't. I can imagine the 18" alloys with either bump the premium or the excess up though.

 

[Sooty torques]

It was the tow bar being on the list that really made me laugh... plus high level brake lights...