*Important* Check your Traders policy's
Discussion
Firstly can Mods please leave this in general as I think this is relevant to a lot of people who now need to be checking their policy's.
It's come to light today that my insurer has changed its policy wording and cover to no longer include cover for modified cars. The insurer has a name beginning with
.
I rung them today to check I was covered on a motorbility car and to my amazement was told they would only provide third party cover on the road. All because of hand controls being fitted. Apparently this is classed as a modification.
When I took out the policy I was never told modified cars would only be paid out third party and to my Amazement I was then told anything with a performance modification would not be covered anymore AT ALL. This includes a Remap!!
I then took this up with the broker I bought through (think blue and orange livery) and to my Amazement they were as surprised as I was. There is now a lot of people driving around who in the event of an accident their insurer will not be paying out. So essentially for many cars on the road the trade policy is no use as an ornament.
This is cover on CUSTOMERS cars. The whole point of having a Trade policy.
ETA
No names not even by association.
It's come to light today that my insurer has changed its policy wording and cover to no longer include cover for modified cars. The insurer has a name beginning with
.I rung them today to check I was covered on a motorbility car and to my amazement was told they would only provide third party cover on the road. All because of hand controls being fitted. Apparently this is classed as a modification.
When I took out the policy I was never told modified cars would only be paid out third party and to my Amazement I was then told anything with a performance modification would not be covered anymore AT ALL. This includes a Remap!!
I then took this up with the broker I bought through (think blue and orange livery) and to my Amazement they were as surprised as I was. There is now a lot of people driving around who in the event of an accident their insurer will not be paying out. So essentially for many cars on the road the trade policy is no use as an ornament.
This is cover on CUSTOMERS cars. The whole point of having a Trade policy.
ETA
No names not even by association.
Edited by Big Al. on Friday 16th May 22:06
slinky said:
Jesus, anyone got any apostrophes going spare?
Well done. I'm on the iPad.To me a trade policy should insure you to drive anything and pay out upto your indemnity, modified or not.
What I'm saying here is if you're in the trade and you have an accident driving a customers car that is found to be modified you will be getting done. Not to mention the customer won't be getting paid out either.
Jimmyarm said:
Interesting, the majority of Insurers will not put exclusions in that are detrimental to the business operating. There was certainly no such exclusion on the Policy I used to underwrite.
Was the question asked whether 'modified' vehicles were driven/worked on on the proposal/renewal declaration ? If so how did you answer it ?
I explained fully what I wanted from the policy. I need to be able to drive customers cars. I will look a plank if I have to turn round and say 'sorry I can't move your car because you have a back box fitted'Was the question asked whether 'modified' vehicles were driven/worked on on the proposal/renewal declaration ? If so how did you answer it ?
It's a total joke.
Jimmyarm said:
So you told your broker when getting a quote that you needed to drive 'modified' vehicles, or that question was never raised by the broker or on the proposal form. Your broker then proceeded to place your business with an Insurer that specifically excludes those vehicles (assuming you told them this) ?
I think you have an issue with the broker and not the Insurer
I still find it perplexing that they are being excluded, I know they aren't from our work Policy as I deal with it all. That is just a generic motor trade policy through a mainstream Insurer.
Besides all this, surely a quick call to the broker and they will add the cover back in for an extra premium ?
ETA; I am trying to refrain from suggesting that you purchased the cheapest, most basic Policy you could find rather than finding a Policy that suited your requirements at a 'reasonable' premium
Its a Motor trade policy?! I asked to be covered on any car. The only exclusion I was told of was Ford Cosworth models. I think you have an issue with the broker and not the Insurer
I still find it perplexing that they are being excluded, I know they aren't from our work Policy as I deal with it all. That is just a generic motor trade policy through a mainstream Insurer.
Besides all this, surely a quick call to the broker and they will add the cover back in for an extra premium ?
ETA; I am trying to refrain from suggesting that you purchased the cheapest, most basic Policy you could find rather than finding a Policy that suited your requirements at a 'reasonable' premium
Update;
Finally heard back from the brokers yesterday. By all accounts they have gone mad at the insurance company over this. The insurance company has now done a U turn and said I can drive anything Modified fully comp. Written confirmation is in the post.
This was certainly not a case of picking the cheapest available. I could have had cover for £800 odd from another firm but I chose this instead on the basis I could put all my own vehicles on and there was less excluded vehicles. £1200 was the cost.
Check your POLICIES.
Finally heard back from the brokers yesterday. By all accounts they have gone mad at the insurance company over this. The insurance company has now done a U turn and said I can drive anything Modified fully comp. Written confirmation is in the post.
This was certainly not a case of picking the cheapest available. I could have had cover for £800 odd from another firm but I chose this instead on the basis I could put all my own vehicles on and there was less excluded vehicles. £1200 was the cost.
Check your POLICIES.
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