My insurance is just about to run out & I would like some quotes from different companies. However, I also need ALL the modifications insured on a like for like basis with an overaul agreed value.

Who is the best to offer this please?

It's insured with Greenlight/Highway at the moment but they won't go above 10k total, is this the norm? Just the standard car value & the s/c kit puts me there without the massive list of other things I have.

I don't want to pay in installments either, just 1 payment.

Anyone help out with advice please?

have you tried HIC, i believe they are supposed to be accomadating to highly modified cars

Or Adrian Flux...?  They are pretty good with modded cars

Although I think they use Highway too. 

Flux did mine recently, agreed value of £8k. Greenlight wouldn't go over £7k for mine.

 Flux did a like for like with all mods and remap declared for me.  And cheaper than other quotes as standard.

I am insured with Greenlight/Highway and on my policy it has the value at 12K, so does that mean that they agree to that figure????

PHIL_M:

I am insured with Greenlight/Highway and on my policy it has the value at 12K, so does that mean that they agree to that figure????

It would seem not! I'm having trouble getting Greenlight to go over 10k, my car in standard form is worth about 5k so then to replace the s/c kit & wheels alone push me easily over that! Let alone the massive list of other parts.

I thought that when I insured my car with them I could agree a value for like for like but it seems they won't do this. Check ya small print guys!

I'd love to know where they would find a 4mo in the condition mine is with 40k genuine miles & then supply me with the extra's I have fitted or them already be fitted for less than 10k? I think it's impossible but we'll see what the outcome is. Greenlight though are slipping down the list rapidly now though in my book.

I don't mind paying a higher premium to have my car adequatly insured, but they don't even give me that option!

Is there an insurance company out there that will insure my car properly? Anyone?

I'm waiting on Flux though so hopefully they will come up with a policy.....

Just to confirm on our normal policies cover all modifications like for like in the event of a repairable claim, basically your car gets repaired by the garage and they replace all mods with mods again rather than the standard VW parts that a number of other insuers would do.

In the event of a total loss/write off the overall market value (including mods) would be assessed by an independent engineer.

Upon Request we are ususallly (depending on the insurer you are quoted with) able to offer an Agreed value policy. This basically means you could agree a figure at inception of the policy for what you would receive if the vehicle is written off. That way you know how much you would get paid in the event of a total loss situation.

We do not offer a total build cost valuation (ie how much you have spent building the car) we offer a policy that would give you the modified market value...Ie what the car is worth to sell in its current modified form.

Basically if you 1985 Escort worth £200 and then spend £20k modifiying it we wont offer an agreed value policy of £20,200 we would look to offer an agreed valve at what the vehicle would be worth not what it cost to build. By Spending £20,000 on modifications will not mean the escort is worth £20,000 more.

Hope this helps explain things, Any questions please do not hesitate to contact me.

Best Regards

Neil (Greenlight)

 fair play

Neil,

Thanks for that, and thankyou for the quote also, which I am happy with. I'll be sorting the insurance next week for definate.

With regards to your above reply it is exactly what I thought & hoped, the only grey area with a modified car and not insuring it as an agreed value is 'What is the market value?' For me that is a big risk to take hence wanting an agreed value policy, which I will take out.

I'm still interested though to see how an assessor would 'market value' the mods & car together, especially if the car is unique in some way?

For instance, what is the current market value of a VF stage 2 Supercharger kit? Anyone know how this is calculated? I do know it'll be a lot less than the cost of a new one but even so if a car was heavily modified when would an assessor stop 'market valueing' the mods due to the total 'market value' of the whole car?

I wonder how many people on here actually think their car is insured for a lot more that it really is because of the 'like for like' wording on the policy?

The best way to judge a market value from you point of view is to think how much could i sell the car for tommorrow if i decided i want a change.

I know after spending all your time and money on the car you are not going to want to sell. But if you think "What could I realistically ask for the car in the UKMKivs Classifieds with all mods fitted".

As with all modified cars you never get back what you put, when i sold my previous MK4 Golf with exhaust, filter, remap, stereo and HKS BOV....I dont think i got much more than a standard car when selling despite spending £3k on mods.

Best Regards

Neil (Greenlight)

All sorted now and insured with a damn good agreed value, HIC in this instance came tops (and after meeting them at Edition38 are a top bunch too!), plus no silly £50 'set up fee for agreed value' like some, just £16. 

Greenlight cancelled my insurance today because i unrealisticly asked them to up the value of the car to 14k. thing is the guy asked me what the car cost me and how much the mods cost me so i said 14k total... he never explained anything as neil above has nor did he want too... i think he must of had a bad day or something... 

so now im looking into other insurances as none of these things are clearly stated when you take the policy out... i mean being a specialist insurance for modified cars id think that they would be nice enough to give us a heads up and say... hey mate if you smash your car up you get bugger all back

Know exactly what you mean mate, I had endless discussions over this as "market value" means jack shoot when the car is unique, unless there is an Autotrader section for "VF Stage 2 Supercharged Mk4 Golf V6motions" That I am unaware of! In the end I guessed that Greenlight just didn't want my business that much, and then after agreeing to offer an agreed value policy wanted to charge me £60 to set it up to declare all the mods etc, even though they had insured the car for the past 2 years with every mod declared!!!

HIC at the time offered me exactly what I wanted for less than Greenlights "market value" policy! At least I know it's insured properly & exactly what I'd get in a total loss situation.

The whole experience was quite informative for me and I am so glad I found out on renewal time and not at claim time!!!!

 Me too mate... im gona call HIC tomorrow and see what they say... i mean insurance point blank is a total rip off... my friend from hungary insures his Mk3 VR6 with twin turbos and i guess the equivalent of maybe £20 - £30k worth of work at UK costs on the car for under £300 per year. fair enough he has to take out a seperate life policy as they dont cover the person at all its the car they cover... but anyone can drive it under any conditions no bullcrap... just an honest policy stating that if you smash your car we will pay out for what it costs... you must provide photo evidence with receipts etc.

I think that is a honest way of providing MODIFIED car insurance... i mean to be honest they are just as much theiving **** as any other insurer is there nothing modified about them!...

Mate do you mind PM'ing me what you paid for you insurance... adrian flux didnt quote me happy at not one but two grand to insure my motor! UMMMM WHAT ARE THEY NUTZ!?