Basic Modifications and additional insurance costs.

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ARoosterinaRoadster
Joined: Thu 29 May, 2014 09:49
Posts: 337

  Z3 roadster 2.0
Location: Lancashire

Basic Modifications and additional insurance costs.

Post by ARoosterinaRoadster » Mon 25 Apr, 2016 23:58

Hi to those that have had a totally standard Z's as they came out of the factory and then carried out some tasteful upgrades but without touching the engine.

Can anyone indicate what the likely difference would be between a totally bog standard Zed and the same model that had been lowered and had wider wheels and bigger boots put on it.
Is there automatically a premium hike or does it depend upon the particular insurance company.
Modifications/changes to wider wheels,bigger boots and slight lowering are essentially intended to make the car more sure-footed on the road and in the case of tyres they can actually reduce stopping distances.

Any help/advice would be much appreciated.
Happiness is a well kept Z3 and preferably running with the hood down - weather permitting.

bertiejaffa
Joined: Fri 26 Jul, 2013 10:28
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  M roadster S50
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Re: Basic Modifications and additional insurance costs.

Post by bertiejaffa » Tue 26 Apr, 2016 00:03

I always mention the mods (and I have lots) and the price never changes - if they aren't mentioned though you might find issues if you ever have to claim.

At the end of the day I also pay an additional £25 a year to have an agreed valuation which is also something to consider as the book price of Z3's (inc Ms) is frighteningly lower than the actual price of a top notch one as we know.
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gookah
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  Z3 roadster 2.8

Re: Basic Modifications and additional insurance costs.

Post by gookah » Tue 26 Apr, 2016 00:42

you cant say to insurers that these mods make the car safer, as they just say in return, it means you are going to drive it faster with more expensive damage if a crash now happens at a higher speed than it would normally have been driven.
Any modification is an opportunity to raise the premium which is grasped vehemently
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bertiejaffa
Joined: Fri 26 Jul, 2013 10:28
Posts: 1725

  M roadster S50
Location: Manchester

Re: Basic Modifications and additional insurance costs.

Post by bertiejaffa » Tue 26 Apr, 2016 00:54

gookah wrote:you cant say to insurers that these mods make the car safer, as they just say in return, it means you are going to drive it faster with more expensive damage if a crash now happens at a higher speed than it would normally have been driven.
Any modification is an opportunity to raise the premium which is grasped vehemently
Exactly, I never enter into a rationale - I just tell them what has been done and they accept it - if they up the ante I ask the next place and they are ok so I go with them. Lets face it, my M has upgraded suspension, brakes, bodykit, seats, dash, interior, wheels, spacers, paint, aero spoilers, lights, alarm and was raced by Tiff Needell. My 911 was born a basic 996 MK1 Carrera, it's now a GT3 with the MK1 interior, and both cars have a premium of 350-400 a year - would be cheaper if it wasn't for my 6 points and the missus having a bump in the last 5 years. Also, these are my "2nd cars" and therefore I am still building up my NCD.

Final thought, Deano1712 has a v8 corvette engine in his and made more changes than you can shake a stick at.. (see link http://www.zroadster.net/forum/viewtopic.php?t=26548). His insurance gave up asking them to be listed, instead they ask for the BHP (which I think is around 550) and his insurance premiums are similar to mine :lol:
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Brian H
Joined: Tue 16 Dec, 2008 19:55
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  Z3 roadster 3.0i

Re: Basic Modifications and additional insurance costs.

Post by Brian H » Tue 26 Apr, 2016 07:37

Everything declared for me too, there are insurance companies that do not penalise for mods, I even declared the HT just in case.

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stevov
Joined: Sun 21 Dec, 2014 15:56
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Re: Basic Modifications and additional insurance costs.

Post by stevov » Tue 26 Apr, 2016 07:46

Wheel and tyre upgrades make your car more attractive hence more desirable hence more attention from thieves. Performance upgrades increase the likelihood of breaking the rules of the road,in more extreme cases can exceed the design parameters of the car. An example of which is non e marked racing brake pads which increase the braking force resulting in earlier activation of the abs system which can actually increase emergency stopping distances. Best practice is to keep yourself right with your insurance company. I find specialist company's a better choice as although a bit more sometimes ,they are versed in the cars and modifications and know what you are talking about rather than Jenny round the block. To be honest if you can't afford to declare and pay the extra you cant afford the car.

ARoosterinaRoadster
Joined: Thu 29 May, 2014 09:49
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  Z3 roadster 2.0
Location: Lancashire

Re: Basic Modifications and additional insurance costs.

Post by ARoosterinaRoadster » Tue 26 Apr, 2016 08:32

stevov wrote:Wheel and tyre upgrades make your car more attractive hence more desirable hence more attention from thieves. Performance upgrades increase the likelihood of breaking the rules of the road,in more extreme cases can exceed the design parameters of the car. An example of which is non e marked racing brake pads which increase the braking force resulting in earlier activation of the abs system which can actually increase emergency stopping distances. Best practice is to keep yourself right with your insurance company. I find specialist company's a better choice as although a bit more sometimes ,they are versed in the cars and modifications and know what you are talking about rather than Jenny round the block. To be honest if you can't afford to declare and pay the extra you cant afford the car.
Hi stevov. Could you pleas point me in the direction of one or two of those 'specialist companies'.
Happiness is a well kept Z3 and preferably running with the hood down - weather permitting.

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stevov
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Re: Basic Modifications and additional insurance costs.

Post by stevov » Tue 26 Apr, 2016 09:52

The company I use is Pace Ward. There is also Keith Michaels, Adrian Flux. Also check the BMW performance forums especially the M car forums to see what Company's they are using. Many top forums have deals with certain insurance company's for their members. It is always better dealing with someone who loves your car and or brand and knows it than dealing with your just a number call centers. when push comes to shove they will help you if you have to claim. I use Pace Ward because of my time on the Lancer register and I know the owner and I've seen first hand how they deal with clients.

bertiejaffa
Joined: Fri 26 Jul, 2013 10:28
Posts: 1725

  M roadster S50
Location: Manchester

Re: Basic Modifications and additional insurance costs.

Post by bertiejaffa » Tue 26 Apr, 2016 11:19

ARoosterinaRoadster wrote:
stevov wrote:Wheel and tyre upgrades make your car more attractive hence more desirable hence more attention from thieves. Performance upgrades increase the likelihood of breaking the rules of the road,in more extreme cases can exceed the design parameters of the car. An example of which is non e marked racing brake pads which increase the braking force resulting in earlier activation of the abs system which can actually increase emergency stopping distances. Best practice is to keep yourself right with your insurance company. I find specialist company's a better choice as although a bit more sometimes ,they are versed in the cars and modifications and know what you are talking about rather than Jenny round the block. To be honest if you can't afford to declare and pay the extra you cant afford the car.
Hi stevov. Could you pleas point me in the direction of one or two of those 'specialist companies'.
My M and 911 are both with Adrian Flux. There is someone on .org who works in an independent brokers and she is trying hard to tailor insurances for Z3 owners - Call 01491 578759 and ask for Stacey
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ARoosterinaRoadster
Joined: Thu 29 May, 2014 09:49
Posts: 337

  Z3 roadster 2.0
Location: Lancashire

Re: Basic Modifications and additional insurance costs.

Post by ARoosterinaRoadster » Tue 26 Apr, 2016 11:39

bertiejaffa wrote:
ARoosterinaRoadster wrote:
stevov wrote:Wheel and tyre upgrades make your car more attractive hence more desirable hence more attention from thieves. Performance upgrades increase the likelihood of breaking the rules of the road,in more extreme cases can exceed the design parameters of the car. An example of which is non e marked racing brake pads which increase the braking force resulting in earlier activation of the abs system which can actually increase emergency stopping distances. Best practice is to keep yourself right with your insurance company. I find specialist company's a better choice as although a bit more sometimes ,they are versed in the cars and modifications and know what you are talking about rather than Jenny round the block. To be honest if you can't afford to declare and pay the extra you cant afford the car.
Hi stevov. Could you pleas point me in the direction of one or two of those 'specialist companies'.
My M and 911 are both with Adrian Flux. There is someone on .org who works in an independent brokers and she is trying hard to tailor insurances for Z3 owners - Call 01491 578759 and ask for Stacey
Hi bertiejaffa. Thank you,I will add the number to my other calls and in due course will post my findings on to the forum.
Happiness is a well kept Z3 and preferably running with the hood down - weather permitting.

Bonzo
Joined: Wed 21 Mar, 2012 21:52
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  Z3 roadster 2.8
Location: Norfolk

Re: Basic Modifications and additional insurance costs.

Post by Bonzo » Tue 26 Apr, 2016 17:31

I'm with Stacey..... Er well, when I say with her, I mean she gave me a great price for my Z3lda's insurance, mods and all. I would definitely give her a call, just say Bonzo sent you. :D

:cheers

Bonzo.
Z3lda (Zelda), 1998 2.8, Montreal Blue, Beige Oregon leather interior and M steering wheel, Sports Seats, Wood trim, Chrome Line Interior, Centre armrest with Cupholder, Alpina Softline wheels, Chromed Angel Eyes, De- tango'd, Rear stone guards, Sport aerial, ASC front strut brace, Strong Strut Butt Strut and Body Brace, Uprated brake fluid, Yellowstuff pads 78k.

ARoosterinaRoadster
Joined: Thu 29 May, 2014 09:49
Posts: 337

  Z3 roadster 2.0
Location: Lancashire

Re: Basic Modifications and additional insurance costs.

Post by ARoosterinaRoadster » Tue 26 Apr, 2016 20:42

Bonzo wrote:I'm with Stacey..... Er well, when I say with her, I mean she gave me a great price for my Z3lda's insurance, mods and all. I would definitely give her a call, just say Bonzo sent you. :D

:cheers

Bonzo.
Hi Bonzo. Thank you for the' Heads-up' I will ring Adrian Flux tomorrow or Thursday morning and post my finding along with the other two companies that I have consulted with.
Happiness is a well kept Z3 and preferably running with the hood down - weather permitting.

ARoosterinaRoadster
Joined: Thu 29 May, 2014 09:49
Posts: 337

  Z3 roadster 2.0
Location: Lancashire

Re: Basic Modifications and additional insurance costs.

Post by ARoosterinaRoadster » Fri 06 May, 2016 14:20

Hi all that assisted me with my (then) pending Insurance Dilemma.
I tried all that were suggested and now have just confirmed my next years cover with Keith Michaels Insurance (Jason looked after the quotation for me)
I was quoted on the basis of one additional driver (back-up in-case of necessity) My recently fitted BMW Staggered wheels and the hardtop as an on/off seasonal change item.

All-in £325.00 with maximum No Claims (actually 27+yrs).

Thank you all.
Happiness is a well kept Z3 and preferably running with the hood down - weather permitting.

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stevov
Joined: Sun 21 Dec, 2014 15:56
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Re: Basic Modifications and additional insurance costs.

Post by stevov » Fri 06 May, 2016 14:37

Have dealt with Jeremy at Keith Michaels in the past. Good company to deal with. Glad your sorted.

ARoosterinaRoadster
Joined: Thu 29 May, 2014 09:49
Posts: 337

  Z3 roadster 2.0
Location: Lancashire

Re: Basic Modifications and additional insurance costs.

Post by ARoosterinaRoadster » Fri 06 May, 2016 16:08

stevov wrote:Have dealt with Jeremy at Keith Michaels in the past. Good company to deal with. Glad your sorted.
Hi stevov. Are you not still with them ? If not then why-not ?
Happiness is a well kept Z3 and preferably running with the hood down - weather permitting.

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stevov
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Re: Basic Modifications and additional insurance costs.

Post by stevov » Fri 06 May, 2016 16:27

Am a long time member and was a regional organiser with the Mitsubishi Lancer Register. Through them I got to know the owner of Pace Ward who are the MLR insurers and sponsor of the sprint series. They offered me an excellent package and were also able to insure my business when I opened my garage Boanerges Performance.

ARoosterinaRoadster
Joined: Thu 29 May, 2014 09:49
Posts: 337

  Z3 roadster 2.0
Location: Lancashire

Re: Basic Modifications and additional insurance costs.

Post by ARoosterinaRoadster » Fri 06 May, 2016 16:48

stevov wrote:Am a long time member and was a regional organiser with the Mitsubishi Lancer Register. Through them I got to know the owner of Pace Ward who are the MLR insurers and sponsor of the sprint series. They offered me an excellent package and were also able to insure my business when I opened my garage Boanerges Performance.
Hi again stevov. makes sense. Pace Ward quoted me £448.00 for exactly the same cover on my Z3 - that was actually £15.00 more than my previous insurer (LV) were quoting me for renewal.
Happiness is a well kept Z3 and preferably running with the hood down - weather permitting.

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