JMB RetrofitsEM Tuning
Results 1 to 21 of 21
  1. #1
    2nd Gear

    Status
    Offline
    Join Date
    Nov 2004
    Location
    South East
    Posts
    317

    Insurance - please help!

    Hi

    Can anyone recommend an insurer who includes cover for optional extras please?

    I have had a policy with Admiral for 4 years now (various Audis, all with optional extras, current Sportback 3.2 SLine) and I just rang to renew for next year (expires end of today, but been looking around and thought a simple call would sort everything out).

    Despite always telling them of all the optional extras I have (all interior stuff like heated seats, lumbar, storage pack etc etc), the fact that they have them noted and the premium is loaded accordingly as it seen as a higher risk, they have just told me specifically that they will only ever pay out for a standard car and will not cover optional extras (the standard parts replacement clause). So technically, whilst options don't hold much value in a second hand car, they would still add a fair amount to the value of a "basic" car value, which I would forfeit.

    It was suggested that this is a common clause in motor policies but I had incorrectly thought that as they had been logged and premium loaded, that they would be covered. I have been told as such in the past too by the same insurer. Otherwise why tell them in the first place as they couldn't prove that your car was stolen because it had heated seats or map pockets could they?

    On my soapbox here, but this is the first I have ever been told of this in 4 years and it has got me a tad wound up.

    Elephant and Diamond are the same company too and have the same terms. My wife's car is with Diamond so they might be about to lose 2 long term policies. Anyone any suggestions please?

    Thanks very much!

  2. # ADS
    ADS
    Join Date
    Always
    Location
    Global
    Posts
    Many
     
  3. #2
    d3fy's Avatar
    5th Gear

    Status
    Offline
    Join Date
    Sep 2005
    Location
    Sheffield
    Posts
    1,411

    Re: Insurance - please help!

    Adrian Flux?

  4. #3
    Reverse Gear

    Status
    Offline
    Join Date
    Jul 2005
    Location
    UK
    Posts
    14

    Re: Insurance - please help!

    I had the exact same problem with Elephant who wouldn't insure the optional extras.

    I went back to Privilege (who used to insure my old Impreza and always gave me good service) and they noted down all the extras and assured me that they are all covered.

    They were even cheaper than Elephant as well.

  5. #4
    d3fy's Avatar
    5th Gear

    Status
    Offline
    Join Date
    Sep 2005
    Location
    Sheffield
    Posts
    1,411

    Re: Insurance - please help!

    I never knew that they would not cover the options, I will check when I renew

  6. #5
    Moderator

    Status
    Offline
    Join Date
    Jun 2003
    Location
    World of my own
    Posts
    9,813

    Re: Insurance - please help!

    Diamond are a bunch of shysters. They loaded my wifes premium by 200 a year when she came to renew because her car got hit by a lorry when she wasn't even in it. Which is fair enough you say but she'd paid extra to have her no claims protected. So yes no effect on her NCB but the premium is just increased by 40%.
    When we shopped around we found that many companies are now asking "would you have lost your NCB if it hadn't been protected?" which then makes it impossible to move companies if you've had a no blame claim.
    In the end we found one that didn't ask such a question so managed to get it cheaper than Diamond even before the claim.

  7. #6
    2nd Gear

    Status
    Offline
    Join Date
    Nov 2004
    Location
    South East
    Posts
    317

    Re: Insurance - please help!

    [ QUOTE ]
    I had the exact same problem with Elephant who wouldn't insure the optional extras.

    I went back to Privilege (who used to insure my old Impreza and always gave me good service) and they noted down all the extras and assured me that they are all covered.

    They were even cheaper than Elephant as well.

    [/ QUOTE ]


    Thanks - went with Privilege in the end as I needed cover sorted out quickly. Slightly cheaper and do cover options too, if noted down. They class them as "accessories". No option to put them into a web quote though, so got a basic quote then rang them to confirm and they matched it but included the options too. And keeping my wife on the policy saved me 20% too.

  8. #7
    5th Gear

    Status
    Offline
    Join Date
    Apr 2004
    Posts
    1,139

    Re: Insurance - please help!

    I had a horrendous time with insuring my car lasty year because of this. Got lots of quotes and when i got asked 'if my car is modified' i replied no, however it isn't standard factory spec because it has factory fitted optional extras. They all needed to know the full list of options and some loaded my premium up by another 150. When i asked and suggest that - if my car was stolen i would only get market value anyway - they said yes this is correct but your car is now more likely to be stolen due to the extras. So you have to be careful as unfortunately the insurance companies class you as a modded up boy racer even if you have added rear mats xenon headlights and leather interior!!! I don't agree with this.

    Also my insurance company in the first year of a cars likfe they need to know options as if you write it off within first year they replace the car with a brand new car WITH all options as it stood before - this is only for first 12 months though.

  9. #8
    4th Gear

    Status
    Offline
    Join Date
    Aug 2005
    Location
    West London
    Posts
    850

    Re: Insurance - please help!

    Why dont you guys take out return to invoice GAP insurance. We got three years cover for only 240-250ish.

  10. #9
    stevieboy's Avatar
    Neutral

    Status
    Offline
    Join Date
    Sep 2005
    Location
    Road To Nowhere
    Posts
    84

    Re: Insurance - please help!

    [ QUOTE ]
    Why dont you guys take out return to invoice GAP insurance. We got three years cover for only 240-250ish.

    [/ QUOTE ]

    Mmmm, Insurance insurance.

    Good idea - if you're an insurance company!

    Money for old rope imo.

  11. #10

    Re: Insurance - please help!

    I am currently insured with Norwich Union Direct. I shopped around on the internet and they worked out the best from what I considered reputable companies.

    Part of the wording in the policy, in connection with replacing the vehicle within the first 12 months reads:

    "We will replace your car with a new car of the same make and specification (if one is available in the UK) ........"

    Same make and specification - thus including all existing options. They have not asked me to specify what options the car is fitted with as they say that, with the registration number, they can easily check the VIN number and thus check the existing specification with Audi if necessary.

  12. #11
    1st Gear

    Status
    Offline
    Join Date
    Jan 2005
    Location
    Sheffield UK
    Posts
    136

    Re: Insurance - please help!

    Had this with my last car, M3. Admiral wanted an extra 200 quid a year for the wheels but would only repalce them with standard. Then cue the massive fight about the SMGII gearbox. Bloody waste of time.Now with Liverpool Victoria because they ignore any points or even a ban for a single case of speeding which most companies will either throw the book at your for refuse to insure you.

  13. #12
    Skittler's Avatar
    Redlined

    Status
    Offline
    Join Date
    Jan 2006
    Location
    Wokingham, UK
    Posts
    131

    Re: Insurance - please help!

    Don't know if it will work for you, but try calling Audi Insurance. They were keen to match any other quote and they guarantee to only tow your car to an approved Audi repairer (with genuine Audi parts) if you have an accident, not just the nearest backstreet hacking shop.
    Plus they have a similar "first 12 months" clause as mentioned above.
    It was the best deal for me.

  14. #13

    Re: Insurance - please help!

    Most reputable insurers will let you choice to have your car taken to an Audi dealer if you prefer. I know that my dealers bodyshop is an approved repairer for most major insurance companies.

    As for an insurer giving a cheap price and then trying to charge extra for factory fitted options - that just seems like sharp practice to me. Fair enough if you have had an expensive set of alloys fiited after delivery and want those covered as well, but not factory fitted items.

    I have also noticed that my policy with NU covers up to 500 for satellite navigation that was not part of the original spec when it it fitted to the car or while its away from the car or in a private garage.

  15. #14
    4th Gear

    Status
    Offline
    Join Date
    Aug 2005
    Location
    West London
    Posts
    850

    Re: Insurance - please help!

    [ QUOTE ]
    [ QUOTE ]
    Why dont you guys take out return to invoice GAP insurance. We got three years cover for only 240-250ish.

    [/ QUOTE ]

    Mmmm, Insurance insurance.

    Good idea - if you're an insurance company!

    Money for old rope imo.

    [/ QUOTE ]

    Maybe but it means i don't have to worry about loosing any money on the car for at least three years if I loose the car(*touches wood that that wont happen*). Also means that I wont be squabling over the value of the car for three years or worrying about my insurance company covering extras. Also got it a lot cheaper than Audi were offering(399) with higher cover value too.

  16. #15

    Re: Insurance - please help!

    I agree with you Dandle. Having spent some 20+k on a new car I personally think GAP insurance is well worth the money for the peace of mind of knowing you will get the full value should anything happen.

    I did my GAP through the dealer, but got a much reduced figuare by showing some of the alternative quotes that I had been given.

  17. #16
    stevieboy's Avatar
    Neutral

    Status
    Offline
    Join Date
    Sep 2005
    Location
    Road To Nowhere
    Posts
    84

    Re: Insurance - please help!

    Just making the point that GAP is indeed 'insurance insurance'. We never had it years ago, although we had the payout against replacement cost argument. I'd have a small wager that in years to come we'll be insuring our GAP insurance!

    But hey, carry on. As stated before I work for one of the worlds largest insurance companies so it's all going towards my salary!! [img]/ubbthreads/images/graemlins/laugh.gif[/img]

  18. #17

    Re: Insurance - please help!

    If insurance companies would be prepared to give a guaranteed settlement figure at the start of an insurance period rather than the vague market value figure that they try and get as low as possible there would be no need for GAP insurance. The insurers create the problem and then make even more money solving the problem they have created. Money for old rope !

  19. #18
    4th Gear

    Status
    Offline
    Join Date
    Aug 2005
    Location
    West London
    Posts
    850

    Re: Insurance - please help!

    I agree that Gap is insuring your insurance but my point is that for 240 I dont have to worry about insuring my extras or what the market value is on my car if the worst was to happen. It only works out at an extra 80 a year and that is less than some people have had added when they have declared their extras to only get market value plus a bit back. Gap will cover the full amount paid when you first bought the car so market value doesnt even come into it.

  20. #19
    Moderator

    Status
    Offline
    Join Date
    Jun 2003
    Location
    World of my own
    Posts
    9,813

    Re: Insurance - please help!

    "Gap will cover the full amount paid when you first bought the car so market value doesnt even come into it."
    Oh dear you really didn't read the small print did you?
    GAP insurance will only pay the difference between what you receive from your normal policy and what finance is outstanding, not the full amount you paid when you bought the car.
    Even if you total the car driving off the forecourt, you are still liable for the deposit and the excess.
    Otherwise people would just deliberately write off their 2 year old car and start all over again, durrr!!!!

  21. #20

    Re: Insurance - please help!

    Depends on the policy you purchased. The Audi policy I purchased offered two levels of cover. 1. Shortfall Protection which covers the difference between the amount paid by your insurance company and the balance of any outstanding finance. and 2, Return to Invoice which covers the difference between the amount paid by the insurance company and the invoice price paid for the vehicle, up to a maximum of 15,000.

    Needless to say I purchased the Return to Invoice cover as I'm sure most others will have done.

  22. #21
    4th Gear

    Status
    Offline
    Join Date
    Aug 2005
    Location
    West London
    Posts
    850

    Re: Insurance - please help!

    [ QUOTE ]
    "Gap will cover the full amount paid when you first bought the car so market value doesnt even come into it."
    Oh dear you really didn't read the small print did you?
    GAP insurance will only pay the difference between what you receive from your normal policy and what finance is outstanding, not the full amount you paid when you bought the car.
    Even if you total the car driving off the forecourt, you are still liable for the deposit and the excess.
    Otherwise people would just deliberately write off their 2 year old car and start all over again, durrr!!!!

    [/ QUOTE ]

    I have read the small print and my Gap which works the same way as Audi GAP+ will make up the difference from my insurance payout to the full invoice price paid up to a maximum of 25k. Cheaper GAP cover only covers whats left on finance.

 

 

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Single Sign On provided by vBSSO

Garage Plus, Vendor Tools vBulletin Plugins by Drive Thru Online, Inc.

Content Relevant URLs by vBSEO