Chimaera insurance renewal
Discussion
My chim was up for insurance renewal this week. i had also recently found out that my insurance brokers were following me on pistonheads!! i asked them if they needed to know about any modifications, they said yes.
i told them i had fitted a larger plenum and afm and smooth bore induction elbow. they asked me if id gained any horsepower, i said yes im up to 290 bhp now but still nowhere near original quoted figures. they said that will be another 10% on the premium as you are now driving a faster more powerful car!!! i started to argue that you must have over quoted me at the beginning then and would i get a rebate if i lost horsepower in the future, but got fed up arguing. So when its renewal quote time, it might be worth asking if the quote is for tvr official bhp or not, and negotiate or at least clarify what will happen if you get your horses back
i told them i had fitted a larger plenum and afm and smooth bore induction elbow. they asked me if id gained any horsepower, i said yes im up to 290 bhp now but still nowhere near original quoted figures. they said that will be another 10% on the premium as you are now driving a faster more powerful car!!! i started to argue that you must have over quoted me at the beginning then and would i get a rebate if i lost horsepower in the future, but got fed up arguing. So when its renewal quote time, it might be worth asking if the quote is for tvr official bhp or not, and negotiate or at least clarify what will happen if you get your horses back
I use REIS for my insurance. They show my car for what it is on their insurance certificate (TVR Chimaera 450) but also show a "BHP Group"; which in my case is showing as 285, as per the factory quoted output.
I will certainly speak to them before I do the mods planned for later this year but I would assume that if I was using exact replacement parts (stage 3 heads, plenum etc from V8D or Power) and my BHP figure doesn't exceed 285 all should be well?????
I will certainly speak to them before I do the mods planned for later this year but I would assume that if I was using exact replacement parts (stage 3 heads, plenum etc from V8D or Power) and my BHP figure doesn't exceed 285 all should be well?????
i told them about the mods, larger plenum etc, and an increase in power, although i forget to tell them it only helped retrieve the bhp i had lost earlier in the year. so my chim has 3 more bhp than when i first insured it!
but for 10% = £30 not worth the hassle to negotiate and i suppose just £30 for any mods would seem reasonable
but for 10% = £30 not worth the hassle to negotiate and i suppose just £30 for any mods would seem reasonable
i am insured with Aviva.
My modifications are, er, substantial to say the least.
I wrote to them (Special Delivery) advising the works : ie engine rebuild and modifications and supercharging. Brakes, better(safer) than standard. Coilovers better (safer) than standard. Aero better (safer) than standard. ECU, the lot.
They loaded the policy by 15% to reflect the increase in agreed value, NOT increased performance.
Their attitude (by phone, date/time recorded) was that the speed limit remains unaffected and the vehicle being top grouped as standard, ability to exceed the speed limit is irrelevant.
My modifications are, er, substantial to say the least.
I wrote to them (Special Delivery) advising the works : ie engine rebuild and modifications and supercharging. Brakes, better(safer) than standard. Coilovers better (safer) than standard. Aero better (safer) than standard. ECU, the lot.
They loaded the policy by 15% to reflect the increase in agreed value, NOT increased performance.
Their attitude (by phone, date/time recorded) was that the speed limit remains unaffected and the vehicle being top grouped as standard, ability to exceed the speed limit is irrelevant.
Better ? well - yes and no.
Pros - 5 star no quibble premium policy, top benefits. No limited mileage. No concerns about them ducking and diving in the event of a claim.
Cons - About £900 a year. No trackdays.
Bear in mind :
6 live points (12 within 5 years, of which 6 expired)
2 claims last year totalling £10k
£20k modifications including nearly doubling horsepower
6 month speed related disqualification in 2004
At £900 I'm not unhappy. Relieved to be able to insure it at all, mindful of above.
Pros - 5 star no quibble premium policy, top benefits. No limited mileage. No concerns about them ducking and diving in the event of a claim.
Cons - About £900 a year. No trackdays.
Bear in mind :
6 live points (12 within 5 years, of which 6 expired)
2 claims last year totalling £10k
£20k modifications including nearly doubling horsepower
6 month speed related disqualification in 2004
At £900 I'm not unhappy. Relieved to be able to insure it at all, mindful of above.
lestershaw said:
My chim was up for insurance renewal this week. i had also recently found out that my insurance brokers were following me on pistonheads!! i asked them if they needed to know about any modifications, they said yes.
i told them i had fitted a larger plenum and afm and smooth bore induction elbow. they asked me if id gained any horsepower, i said yes im up to 290 bhp now but still nowhere near original quoted figures. they said that will be another 10% on the premium as you are now driving a faster more powerful car!!! i started to argue that you must have over quoted me at the beginning then and would i get a rebate if i lost horsepower in the future, but got fed up arguing. So when its renewal quote time, it might be worth asking if the quote is for tvr official bhp or not, and negotiate or at least clarify what will happen if you get your horses back
You need to talk with your feet and move to another company ,The cheapest was R&H classic sports car specialist but no trackday cover ..Mine went up £10 when i from the 4l to the 5l transplant .i told them i had fitted a larger plenum and afm and smooth bore induction elbow. they asked me if id gained any horsepower, i said yes im up to 290 bhp now but still nowhere near original quoted figures. they said that will be another 10% on the premium as you are now driving a faster more powerful car!!! i started to argue that you must have over quoted me at the beginning then and would i get a rebate if i lost horsepower in the future, but got fed up arguing. So when its renewal quote time, it might be worth asking if the quote is for tvr official bhp or not, and negotiate or at least clarify what will happen if you get your horses back
They may even give you a free pasty including vat because they are now the 45% boys
Take from the poor and give to the rich ..!
There was a supercharged Chim advertised a couple of years ago and I spoke with the owner about insurance and it had a load of mondifications and all the bits that cost a fortune - nitrons, big brakes and wheels, plus the SC stuff and hand made big-bore exhaust(he had it for sale at £10k from memory!!)
Classic line insured it for a low sum of money. I got a quote on it for South London and not garaged at £240 for 5000 miles. Their view was it was top group before so no premium loading for the mods and proved that by quoting me the same for my 400!
I didnt take them up on the price as I am happy with my existing broker who price matched against the quote and gives excellent customer service.
Classic line insured it for a low sum of money. I got a quote on it for South London and not garaged at £240 for 5000 miles. Their view was it was top group before so no premium loading for the mods and proved that by quoting me the same for my 400!
I didnt take them up on the price as I am happy with my existing broker who price matched against the quote and gives excellent customer service.
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