Insurance modified vs non modified

[Kristian87]

I'm a bit bemused by the low quotes I see posted on here, whenever this topic arises.

Just for clarity.

What mileage restriction are you setting?

What, if any, additional "services" are you adding?

For balance, I was frequently an Admiral customer, for over 25 years. But in recent years their quotes went stratospheric.
Perhaps they have an ageist tarrif.
And if you have to claim... Oh boy!

Goes to show there’s no single “best insurer” when mods, young drivers or mystangs are involved. It’s a case of trial and error

as above i’ve tried a plan thatcham and for me it was a laughable quote. But as i say, because of my loyalty with Admiral (i had a multi car policy on and off over the years) they’ve served me well

For context;
Currently 33
8k miles a year
Live in Newbury, Berkshire
Secure car park
Accident in 2015 - just before i picked the ecoboost up - slammed in to the back of someone, totally my fault. Not fast enough to set the airbags off.
No convictions/licence points

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[Supersolo]

going up in age after a certain point definitely increase the insurance especially in high performance cars as you start to become a higher risk as you get older.
By comparison last years insurance (with all mods declared) was £340 fully comp 6 thousand a year (i've put 11k on the mustang in 4 years) 20 years no claims + it protected no voluntary excess and £250 compulsory.

I've found that recently, all the insurers I've contacted only record and recognise between 15 to 9 years NCD.

I'm very early 50s with no relevant accidents (4 in 30+ years, 3 non fault ).

However, I would probably struggle to do the low mileages some folk seem to stick to. I do have a daily driver, but I like to use the Mustang as often as circumstances allow, carpe diem and all that.

Besides going nearer to the U.K. average annual mileage, historically I've also tended to protect my NCD and taken legal cover. I also try to stay with the lowest excess or otherwise raise it no higher than £100.

On NCD. In recent years, I've discovered that while NCD may be protected, this doesn't prevent your next premium increasing disproportionately on the basis of whether I've claimed.
Therefore I have concluded there's no real benefit anymore to protecting NCD if the premium is artificially inflated because you've had recent claim.

Furthermore, during telephone conversations around renewal time, last year. I tried to explain that I do not feel the premium should rise as the insured asset value has depreciated and so the replacement costs would be lower.
The answer I've received is that doesn't influence the calc of the premium and when I ask what does and how the premium is calculated, they don't want to explain...

 

[hinch]

so in your 50's that means unfortunately that your insurance now starts increasing year on year.
its true most don't take longer than 9 years no claims however it does still impact the premium as while they only actively support 9 they all do share/track accident and claim history so the longer without the better for you discount wise.
my mileage is so low as i'm antisocial and don't leave the house but I also have a few other cars to use too only really use the mustang for meets and motorway munching (although oct -> march i use the truck usually)
they can't tell you what makes up the premium because most of it is simply finger in the air what can we charge before we get pulled on with a small discount applied ontop

 

[Supersolo]

so in your 50's that means unfortunately that your insurance now starts increasing year on year.

Unless U.K. insurers can prove/manufacture data to support the hypothesis people over 50 years old, are statistically signifcantly higher risk, then I'm left with no other choice than to conclude that to inflate my premium based on age is discrimintory. At my end of the age Vs experience scale.

But since when did U.K. insurers worry about that, lol.

 

[marks]

Admiral are best for me, few mods, in mid thirties, close to London - circa £500

 

[SteveS]

I was with Aviva when I got the car and they were decent, if a little more expensive. Trouble was they would only cover a maximum of 6 mods and they had absolutely no clue as to what each mod was. Have tried to get quotes from Admiral over the years but I also have an issue getting quotes online from them, plus they wouldn't touch the car with wheel spacers - "they make your car wider..."

Have been with A-Plan Thatcham now for three years. Dealing with them is a breeze and they're competitive for me. I've heard stories that their claim handlers are a bit of a nightmare but I can only hope I never have to find out.

51 year old male, north east Scotland, clean licence, 9+ years NCD. About a dozen mods including wheels and suspension. 1 non-fault claim in the last 5 years. Premium was somewhere just south of £280.

 

[maddog1982]

Did you actually speak to A-Plan in Thatcham as that's their specialist branch for modded stuff?

I did, so best price is 620.

I'm a bit bemused by the low quotes I see posted on here, whenever this topic arises.

Just for clarity.

What mileage restriction are you setting?

What, if any, additional "services" are you adding?

For balance, I was frequently an Admiral customer, for over 25 years. But in recent years their quotes went stratospheric.
Perhaps they have an ageist tarrif.
And if you have to claim... Oh boy!

mileage 9000
no extras just insurance.

 

[maddog1982]

their offices are based in Wales, i always make sure i get someone with a welsh accent! They’ve always been superb. I’m sure they have other call centres, so i’d hang up if you get through to an outsourced call centre where they just read off a script.

Well Admiral have come up awesome!

Only difference I can see is they are not like for like on mods but the price is very very competitive - Oh and as a bonus, my girlfriends car is due the day before so if we take out a multi car policy it knocks another 120 off the mustang and 25ish off her best quote.

Thank you so much for the recommendation.

 

[Supersolo]

Well Admiral have come up awesome!

Only difference I can see is they are not like for like on mods but the price is very very competitive - Oh and as a bonus, my girlfriends car is due the day before so if we take out a multi car policy it knocks another 120 off the mustang and 25ish off her best quote.

Thank you so much for the recommendation.

Word to the wise regarding MCPs. My last MCP with Admiral would only allow my NCD for one car, so I had to pay the none discounted premium for my second car.

 

[maddog1982]

I'll check, what I'm sure was he said was 11 years was included for mine and 12 years discount for hers as they are treated as separate cars. The quote I've had read that way too

 

[hinch]

Unless U.K. insurers can prove/manufacture data to support the hypothesis people over 50 years old, are statistically signifcantly higher risk, then I'm left with no other choice than to conclude that to inflate my premium based on age is discrimintory. At my end of the age Vs experience scale.

But since when did U.K. insurers worry about that, lol.

this would be accurate, while you are statistically more likely to be involved or contribute to an accident, the funny thing is that risk is no higher than a 21 year old either so theory would say you'd pay the same, yet the 21 year old wouldn't get insurance at all. basically insurance in this country is a licence to print money as its a legal requirement so everyone has to pay it but its unregulated so they can do whatever the fuck they want.

 

[maddog1982]

Interesting talking to my cousin about this who lives in Florida. They insure the person so he is free to do what ever he pleases. His previous car to his Z06 was a camaro 550hp at the wheels, I drove it, just wanted to go sideways everywhere

 

[Chappers]

Just added springs n sway bars onto my insurance and it added £7 to my premium... I was chuffed with that... But had to pay £20 for making a change to my policy.
I pay £745
32
3pts
10year NCB
7K miles
I'm with Ford Insure this year too as they were cheapest.

I find there is no loyalty, it'll be cheap this year then double next... Just happened with my home insurance it more than doubled I couldn't believe it

 

[Supersolo]

I find there is no loyalty, it'll be cheap this year then double next... Just happened with my home insurance it more than doubled I couldn't believe it

Yeap! I find this and others I know have experienced it too.

 

[V8_MOTOR]

Brentacre for me. Both the GTR and Mustang

On the mustang, all mods declared, 8+years no claims protected (I cant remember exactly what I have), valued at 47k (probably worth more), no convictions or speeding tickets or accidents (im a bit of a granny driver) plus 2 named drivers 1045

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