Insurance questions not the usual...

[alexcurtis]

Hi

What are people thoughts and I know this is a touch emotive. So its time for renewal, and picked up 2 points in my quote

1. there are no engine mods listed now speaking to my insurer they are only interested when it gets to over 10% increase. There is a stealth cam shaft from V8D in there otherwise stock engine and the cat has now been lost but not been remapped yet… have I tipped the scales towards what you could reasonably expect, insurance wise to have gone over 10%
2. As we have all seen the selling price of TVR’s has rapidly increased but at the end of the day it is only what someone is actually prepared to pay for it not what the seller asks! Currently my Griff is valued for insurance purposes at £14k, which is what I paid for it. It’s a 1999 Griff 500 has done 80k in very / good condition and has just had a full chassis refurb, so thinking it is worth circa £20-22k now looking at classifieds…

This is all very subjective I know and would be a nightmare to argue I think from both sides especially regarding engine power, as don’t know the base line of the engine, as no TVR engine actually produced what it was meant to out of the factory anyway? As I understand it.

But looking to try and get some thoughts perspective my premium is not expensive currently at £260 pa but also don’t want to throw money down the drain

Thanks in advance for your thoughts / views

Alex

[Yex 450]

My 450 Chimaera has been insured with REIS since I bought it 7 years ago this March. In the last 15 months I have invested in a body off chassis refurb and new outriggers and then when the body was off had a new radiator fitted and the steering rack total refurbished - details all in my profile. At the last renewal I had the car insured for an agreed value of £20,000 and paid £400 for the premium. I am a strong believer that if you have a good TVR then it should be insured with an agreed value in order to be able to get close to replacing on a like for like basis should a total loss event ever occur.

I have also had the camshaft replaced with the 885 version that Dom has developed at his place and am planning to go back to him to get the MBE ignition system fitted in a few months time. I had the 72mm plenum, carbon trumpets and ACT breathing system added so the MBE will be the finishing point and the engine will be very healthy then. I asked about the engine upgrades last year at renewal and was told that as long as my car does not exceed 340BHP it will still fall into the same category as it does now. Given the figure they chose to quote I am assuming they are basing performance bands on the factory ones quoted when these cars were sold.

I'll be asking the cover to be raised to £22,000 this year and will be happy to pay for this.

Bottom line to me is be honest with the insurer and pay the premium if you feel your car is worth more than you would get under a normal claim without an agreed value

[alexcurtis]

cheers good thoughts... i will ask the question on what they base as standard bhp output!!!
Regarding value the minimum i need is to cover my initial investment which it will as currently set up, as ever it is a gamble risk v reward, but i will look to increase the insured value of the car, though fingers crossed as with all insurance you never want to use it!