optional extras declared on insurance?

stumph

Hi,

Car insurance renewal time for us, and I've been pondering something I ponder every year. Declaring optional extras.

The guide on here says "Always make sure you inform your insurer of any modifications to your car, whether you made them or not, or it may invalidate your policy. A modification is anything that isn't part of the standard vehicle specification, including factory-fitted optional extras such as alloy wheels."

I've read this elsewhere too. I really can't believe that many people declare every optional extra that is on their car when they renew! Especially as you can't do that on a comparison site and would have to ring around. I would imagine most people who bought second hand don't know what on their car was optional anyway.

So, does anyone declare these extras? e.g. leather seats, upgraded stereo, different wheels, steering wheel controls, bluetooth, sat nav etc etc that were fitted when the car was new?

Knowing how much difference it makes to premium, I also wonder about how many people declare 'minor' modifications like changing alloys when I see them driving round, but that's another thread...

dunstonh

Insurers are really interested in changes which affect performance and handling or adjust the cost of the vehicle a lot.

For example, if you buy a vehicle costing £20,000 but have £15,000 of extras but don't disclose the extras then in the event of a total loss, the insurer may only use the £20,000 price as replacement as that is the model you declared it as.

Leather seats, stereo etc are not going to impact on risk individually. Most manufacturer options will not see the price adjusted. Third party performance or visual changes are the ones they are particulary interested in.

General rule of thumb is that if in doubt, tell the insurer and let them decide.

mildred1978

dunstonh wrote: »

Leather seats, stereo etc are not going to impact on risk individually. Most manufacturer options will not see the price adjusted. Third party performance or visual changes are the ones they are particulary interested in.

General rule of thumb is that if in doubt, tell the insurer and let them decide.

cars get stolen for their (leather) interiors, so insurers certainly may consider them an increased risk.

stumph

dunstonh wrote: »

General rule of thumb is that if in doubt, tell the insurer and let them decide.

Except that would require ringing every insurer as you can't do extras/modifications online.

So, does anyone declare them? Or do people not want to admit that they don't on a forum?

patman99

What about if it is a second-hand motor ?. You would not be aware of what was standard and what were options.

stumph

patman99 wrote: »

What about if it is a second-hand motor ?. You would not be aware of what was standard and what were options.

exactly. On our MINI we changed the wheels that were on it to a different set of wheels, from the manufacturer, that could have been on it from new. In the insurers eye this is now modified, and some bump the premium by 50%. If we sold it, the new owner wouldn't necessarily know they had been changed. We declare them, along with all the optional extras from new. Easy if you renew with the same people every eyar, a nightmare if you want to change.

InsideInsurance

Insurers will generally look at if they believe you intentionally miss lead them or if it was accidental. Likewise if the changes are material to the claim or not.

If they believe it is unintentional and it wasnt material to the claim then they will simply add the changes to the policy and backdate and additional premium that may have been due.

Obviously if they believe you knew it had lowered suspension, different alloys, rechipped, engine bored out and a nitrous kit added but you hadnt declared any of them prior to wrapping the car around a lamp post at 100mph then they may look to void the policy.

My car does have a host of changes like leather interior, metallic paint, bi-xeon lights, cruise control, auto windscreen wipers, folding wing mirrors etc.... yet to find any insurer that adds anything to the premium though it is a pain having to phone them up and list them all each time.