When does Upgrade become a Mod??
Discussion
Following on from my earlier post on induction kits, when does an upgrade become a mod?
I've changed some of the electrics on the car eg leads, coil, etc which are considered as better quality replacement parts, but not modifications and therefore do not have any effect on the insurance.
However, I was told an induction kit adds about £40 to the insurance and a M Adams Chip £50, although they (Sunningdale) would only charge about £50 if I had both done. However, upgrading things such as brakes and suspension do not attract extra preumium - presumably because they are considered safety upgrades and improve handling?
Does anyone know why particular upgrades attract extra insurance and some don't or have I already answered my own question!!???
The only upgrade which they won't insure is a Nitro kit, which is a shame .............
I've changed some of the electrics on the car eg leads, coil, etc which are considered as better quality replacement parts, but not modifications and therefore do not have any effect on the insurance.
However, I was told an induction kit adds about £40 to the insurance and a M Adams Chip £50, although they (Sunningdale) would only charge about £50 if I had both done. However, upgrading things such as brakes and suspension do not attract extra preumium - presumably because they are considered safety upgrades and improve handling?
Does anyone know why particular upgrades attract extra insurance and some don't or have I already answered my own question!!???
The only upgrade which they won't insure is a Nitro kit, which is a shame .............
I was gonna tack this onto the end of your 'induction thread' but here'll do I guess.
I'm another who'se insured through Sunninghill and like so many others, have a catalogue of upgrades and mod's lurking beneath the bonnet, the cost of which still makes me shudder. However, the engine capacity hasn't been increased and those nice new bits, some of which can be seen and some of which cannot, have become recognised within TVR insurance circles as an accepted standard. ACT plenums and induction hoses, MA ECU's etc are commonplace and recognised for their reliability as well as making a car more driveable. I pay an additional premium of somewhere in the region of 10 percent (£50ish); but then I am an Old F****r and I live in Cornwall.
Just make sure you declare anything to your insurance provider, including brakes and suspension, they aint necessarily gonna make your car safer.
As for the Mod/Upgrade conundrum: wouldn't an upgrade be the replacing of one thing for another that provides some form of benefit. Doesn't a mod' require the change of an items form or function.
I'm another who'se insured through Sunninghill and like so many others, have a catalogue of upgrades and mod's lurking beneath the bonnet, the cost of which still makes me shudder. However, the engine capacity hasn't been increased and those nice new bits, some of which can be seen and some of which cannot, have become recognised within TVR insurance circles as an accepted standard. ACT plenums and induction hoses, MA ECU's etc are commonplace and recognised for their reliability as well as making a car more driveable. I pay an additional premium of somewhere in the region of 10 percent (£50ish); but then I am an Old F****r and I live in Cornwall.
Just make sure you declare anything to your insurance provider, including brakes and suspension, they aint necessarily gonna make your car safer.
As for the Mod/Upgrade conundrum: wouldn't an upgrade be the replacing of one thing for another that provides some form of benefit. Doesn't a mod' require the change of an items form or function.
Upgrades and mods. These are words that don't belong solely to the world of cars and their insurers. There may be definitions used by insurers but those definitions will surely differ from one insurer to another.
What is important is whether the change from standard has created a greater hazard or a greater risk of an existing hazard occurring.
In the end it is up to the insurer covering the risk. If they decide the risk has become more likely to occur then they will need to charge more to cover you against that risk.
What is important is whether the change from standard has created a greater hazard or a greater risk of an existing hazard occurring.
In the end it is up to the insurer covering the risk. If they decide the risk has become more likely to occur then they will need to charge more to cover you against that risk.
Frustratingly many insurers wanted to load my premium for having had a rollbar fitted. Now a rollbar can surely only improve safety? Apparently certain companies are of the opinion that if you fit a rollbar it must be because you want to drive like a nutter - hence the premium increases...
[Cynicalmode]
When does an upgrade become a mod?
When the b
d insurance companies think they can charge you more for having if done:rant:
[/Cynicalmode]
On a more serious note, IIRC the obligation that the insured must meet is that of utmost good faith. In basic terms, the insured must inform the insurer of all facts that a prudent underwriter would reasonably want disclosed in order to make a full risk assessment of the insured...*
So... if a prudent underwriter would reasonably want to know about your new nitrous injection kit, then you need to tell your insurer.
Only problem is that this prudent and reasonable underwriter doesn't actually exist, and therefore one is only told for sure whether something needs to be disclosed once the matter's gone to court (i.e. when it's too late). In such case, I think I shall be playing it safe...
*Disclaimer - I'm a banking/corporate finance lawyer and other than a brief spell as a trainee looking at marine insurance, I know effall about insurance law
When does an upgrade become a mod?
When the b
d insurance companies think they can charge you more for having if done:rant: [/Cynicalmode]
On a more serious note, IIRC the obligation that the insured must meet is that of utmost good faith. In basic terms, the insured must inform the insurer of all facts that a prudent underwriter would reasonably want disclosed in order to make a full risk assessment of the insured...*
So... if a prudent underwriter would reasonably want to know about your new nitrous injection kit, then you need to tell your insurer.
Only problem is that this prudent and reasonable underwriter doesn't actually exist, and therefore one is only told for sure whether something needs to be disclosed once the matter's gone to court (i.e. when it's too late). In such case, I think I shall be playing it safe...
*Disclaimer - I'm a banking/corporate finance lawyer and other than a brief spell as a trainee looking at marine insurance, I know effall about insurance law
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