Telling insurance company about factory options?
Discussion
I bought a new car last year, it had 16" alloys on it which I swapped for 15", both are offered as standard fit on different specs of the car. I didn't tell the insurance co. was because my local dealer offered me a straight swap on the alloys when I ordered the car, therefore the insurance company had no way of knowing which wheels were fitted when I bought it. Do you think it's best just to tell them anyway? In addition, should you tell them if you have any factory options fitted? I've never really been sure about it.
I told the insurance about my towbar on the Vectra and changing the MG stereo (going to MP3 meant dumping the CD changer and liberating boot space).
They weren't worried. TBH I'd have expected the towbar to be the bigger worry as you can do a lot more damage with that or at least whatever you're dragging with it.
They weren't worried. TBH I'd have expected the towbar to be the bigger worry as you can do a lot more damage with that or at least whatever you're dragging with it.
Well, if you don't tell them about the factory options, they won't include them in the valuation when your car is stolen or crashed.
Less of a problem on older cars, but if you have the policy benefit of new for old, then that undeclared factory sunroof, leather interior, aircon or whatever will cost you when you don;t get paid out on it.
Also, some will have criteria that some mods, such as spoilers, paint or alloys do affect the underwriting criteria, for example aftermarket alloys usually attract a larger excess, and may increase the rating of the vehicle. As such, you don't want to save a couple of quid for the point of 6 months bickering with a claims department.
I must admit, Idon't understand why there isn't a database of every new car, with options added, so that in addition to the dvla lookup insurers do, there was a central database so you could all be reassured the details were correct.
Essentially, you are entering into a business contract with the insurer,on "utmost good faith". Given that so many people give inaccurate or misleading details, it's no wonder that so many people end up having an issue with their insurer. It is a complicated, expensive, and legally required product, so there is a certain sense of animnosity and this may lead to omissions being made which the purchaser doesnt view as important, but the insurer does.
If people were 100% correct in their declarations, they would save a lot of their time, insurers time, and logically everyones money.
Less of a problem on older cars, but if you have the policy benefit of new for old, then that undeclared factory sunroof, leather interior, aircon or whatever will cost you when you don;t get paid out on it.
Also, some will have criteria that some mods, such as spoilers, paint or alloys do affect the underwriting criteria, for example aftermarket alloys usually attract a larger excess, and may increase the rating of the vehicle. As such, you don't want to save a couple of quid for the point of 6 months bickering with a claims department.
I must admit, Idon't understand why there isn't a database of every new car, with options added, so that in addition to the dvla lookup insurers do, there was a central database so you could all be reassured the details were correct.
Essentially, you are entering into a business contract with the insurer,on "utmost good faith". Given that so many people give inaccurate or misleading details, it's no wonder that so many people end up having an issue with their insurer. It is a complicated, expensive, and legally required product, so there is a certain sense of animnosity and this may lead to omissions being made which the purchaser doesnt view as important, but the insurer does.
If people were 100% correct in their declarations, they would save a lot of their time, insurers time, and logically everyones money.
When you buy a secondhand car do you necessarily know what was an accessory let alone optional equipment?
For example, looking at other cars my MG has (factory) upgraded wheels, paint, trim and brakes yet the handbook doesn't mention this so they could have been standard. I'm not sure.
In fact towards the end there was no "standard" build for the MG, they just used whatever was on the line or not which is why my car had no boot light.
For example, looking at other cars my MG has (factory) upgraded wheels, paint, trim and brakes yet the handbook doesn't mention this so they could have been standard. I'm not sure.
In fact towards the end there was no "standard" build for the MG, they just used whatever was on the line or not which is why my car had no boot light.
PumpkinSteve said:
I bought a new car last year, it had 16" alloys on it which I swapped for 15", both are offered as standard fit on different specs of the car. I didn't tell the insurance co. was because my local dealer offered me a straight swap on the alloys when I ordered the car, therefore the insurance company had no way of knowing which wheels were fitted when I bought it. Do you think it's best just to tell them anyway? In addition, should you tell them if you have any factory options fitted? I've never really been sure about it.
No.
Jujuuk68 said:
Well, if you don't tell them about the factory options, they won't include them in the valuation when your car is stolen or crashed.
Less of a problem on older cars, but if you have the policy benefit of new for old, then that undeclared factory sunroof, leather interior, aircon or whatever will cost you when you don;t get paid out on it.
Hmmm, I did get leather interior added. I think I'll have to give them call and see what they say.Less of a problem on older cars, but if you have the policy benefit of new for old, then that undeclared factory sunroof, leather interior, aircon or whatever will cost you when you don;t get paid out on it.
In my experience some insurers want to know about them and some don't, the ones who do usually clearly state in the section where it asks for modifications, stating something along the lines of 'including factory fitted manufacturers options'.
Admiral definitely DO and we had a loads of fun trying to list the options on my wifes Mini to the foreign call centre operator.... went well until we got to the limited slip diff.
Admiral definitely DO and we had a loads of fun trying to list the options on my wifes Mini to the foreign call centre operator.... went well until we got to the limited slip diff.
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