insurance question
Discussion
A thought just popped into my head, I think I know the answer but wanted to ask.
I'm sure you've seen loads of cars for sale with modifications, some obvious, some not.
So lets say the person selling the car has some engine mods undeclared to their insurer. The buyer who wants to buy the car gets an insurance quote with the same company as the seller, asks about declaring all the mods on top and gets a quote.
What's the chance of the insurance company putting 2+2 together and finding out the seller has not declared any mods?
I'm sure you've seen loads of cars for sale with modifications, some obvious, some not.
So lets say the person selling the car has some engine mods undeclared to their insurer. The buyer who wants to buy the car gets an insurance quote with the same company as the seller, asks about declaring all the mods on top and gets a quote.
What's the chance of the insurance company putting 2+2 together and finding out the seller has not declared any mods?
Very low at inception stage, but still possible. However, if the insurer asks if it has mods and you choose not to declare even though you know, then expect a world of pain.
If you innocently fail to declare then that's fine. It's done on what a reasonable person would reasonably be expected to know.
If you try to be clever then you will get found out no matter how clever you think you are
If you innocently fail to declare then that's fine. It's done on what a reasonable person would reasonably be expected to know.
If you try to be clever then you will get found out no matter how clever you think you are
LoonR1 said:
Very low at inception stage, but still possible. However, if the insurer asks if it has mods and you choose not to declare even though you know, then expect a world of pain.
If you innocently fail to declare then that's fine. It's done on what a reasonable person would reasonably be expected to know.
If you try to be clever then you will get found out no matter how clever you think you are
It mainly came from all these threads with 2.0 litre conversions and no declaration from the seller. If you innocently fail to declare then that's fine. It's done on what a reasonable person would reasonably be expected to know.
If you try to be clever then you will get found out no matter how clever you think you are
I knew the innocently bit but doing it intentionally I wasn't sure if the insurers bother chasing people up.
As a second question, if the seller sold his car and cancelled insurance. If the company found out they had been driving without mods declared would they look to seek extra costs or drop it?
they are not going to chase up people who've sold cars they now suspect have modifications
it wouldn't even be feasible for them to chase up people on the bases that someone else has quoted for the car with modification, especially if they did not buy the car and take out the policy
If it were i'd regularly be getting people in bother with insurers when i see a car on auto trader and do an insurance quote for it with the mods i would probably do to it
it wouldn't even be feasible for them to chase up people on the bases that someone else has quoted for the car with modification, especially if they did not buy the car and take out the policy
If it were i'd regularly be getting people in bother with insurers when i see a car on auto trader and do an insurance quote for it with the mods i would probably do to it
ging84 said:
they are not going to chase up people who've sold cars they now suspect have modifications
it wouldn't even be feasible for them to chase up people on the bases that someone else has quoted for the car with modification, especially if they did not buy the car and take out the policy
If it were i'd regularly be getting people in bother with insurers when i see a car on auto trader and do an insurance quote for it with the mods i would probably do to it
Fair enough. I know how the insurance industry like to get money any way they can so was curious if they did it this way. it wouldn't even be feasible for them to chase up people on the bases that someone else has quoted for the car with modification, especially if they did not buy the car and take out the policy
If it were i'd regularly be getting people in bother with insurers when i see a car on auto trader and do an insurance quote for it with the mods i would probably do to it
smiffy180 said:
Fair enough. I know how the insurance industry like to get money any way they can so was curious if they did it this way.
Oh good 8 posts in and out comes another myth. What they want is the right money for the right risk. It's not that difficult to see is it? Most businesses work that way. When I was in my teens I bought a car that was lowered and had larger wheels on.
I knew it had the wheels but genuinely didn't know it was lowered. I declared the car as standard as my understanding at the time was if it was in an accident they would simply pay for it to be repaired to standard.
Anyway a few weeks later a letter dropped on the mat saying the car was previously insured as modified stating it had been lowered with alloys and they would be collecting an additional £150 from my account on xx date unless I could call them and prove otherwise.
I let them collect and that was that. Stayed with that same insurer for around 3 years before going elsewhere and declaring them as I should of done.
Foolishly naive on my part and would hate to think what would of happened had I been in an accident.
Thinking back the only thing that strikes me was I paid that policy in full and never signed any form of DD mandate.
I knew it had the wheels but genuinely didn't know it was lowered. I declared the car as standard as my understanding at the time was if it was in an accident they would simply pay for it to be repaired to standard.
Anyway a few weeks later a letter dropped on the mat saying the car was previously insured as modified stating it had been lowered with alloys and they would be collecting an additional £150 from my account on xx date unless I could call them and prove otherwise.
I let them collect and that was that. Stayed with that same insurer for around 3 years before going elsewhere and declaring them as I should of done.
Foolishly naive on my part and would hate to think what would of happened had I been in an accident.
Thinking back the only thing that strikes me was I paid that policy in full and never signed any form of DD mandate.
DaveH23 said:
When I was in my teens I bought a car that was lowered and had larger wheels on.
I knew it had the wheels but genuinely didn't know it was lowered. I declared the car as standard as my understanding at the time was if it was in an accident they would simply pay for it to be repaired to standard.
Anyway a few weeks later a letter dropped on the mat saying the car was previously insured as modified stating it had been lowered with alloys and they would be collecting an additional £150 from my account on xx date unless I could call them and prove otherwise.
I let them collect and that was that. Stayed with that same insurer for around 3 years before going elsewhere and declaring them as I should of done.
Foolishly naive on my part and would hate to think what would of happened had I been in an accident.
Thinking back the only thing that strikes me was I paid that policy in full and never signed any form of DD mandate.
Please don't be offended, but it's "would have" not "would of".I knew it had the wheels but genuinely didn't know it was lowered. I declared the car as standard as my understanding at the time was if it was in an accident they would simply pay for it to be repaired to standard.
Anyway a few weeks later a letter dropped on the mat saying the car was previously insured as modified stating it had been lowered with alloys and they would be collecting an additional £150 from my account on xx date unless I could call them and prove otherwise.
I let them collect and that was that. Stayed with that same insurer for around 3 years before going elsewhere and declaring them as I should of done.
Foolishly naive on my part and would hate to think what would of happened had I been in an accident.
Thinking back the only thing that strikes me was I paid that policy in full and never signed any form of DD mandate.
LoonR1 said:
I take it you didn't read the list of mods. The reason for cancellation was not what mods were done as such. It was that the proposer knew there were modifications but chose not to declare them and admiral wouldn't have insured that car with those mods.
It was also clearly fronting.
Out of interest: Would it make much, if any, difference to the victims that the claim was taken over by MID?It was also clearly fronting.
BB
I've just googled the Bismire case.
Alloys, lowered, bonnet vent, spotlights, rear lamps clusters, foot pedal covers, gear lever knob, carpet mats seat covers, multi disc CD player and head unit.
Personally, I don't think any of those mods are worth declaring.
Half of them I wouldn't even call mods.
Apart from lowering perhaps, depending on how it was done, and maybe the alloys if they are non standard size for a corsa.
I get the impression the mods were just an excuse to deal with the problem of fronting and the driver racing and driving dangerously.
Alloys, lowered, bonnet vent, spotlights, rear lamps clusters, foot pedal covers, gear lever knob, carpet mats seat covers, multi disc CD player and head unit.
Personally, I don't think any of those mods are worth declaring.
Half of them I wouldn't even call mods.
Apart from lowering perhaps, depending on how it was done, and maybe the alloys if they are non standard size for a corsa.
I get the impression the mods were just an excuse to deal with the problem of fronting and the driver racing and driving dangerously.
At the very least alloys would make it more attractive to thieves, as would a bling head unit. The other mods are up for debate - however I think the point is moot. It's hardly fair to expose a company responsible for paying money out to you to a greater risk than they have accounted for. It's not your place to decide if a modification is "worth telling them about", it's theirs.
FWIW I've declared several things in the past that have had no effect on my premium whatsoever.
FWIW I've declared several things in the past that have had no effect on my premium whatsoever.
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