talizman

iTrader: (1)

I've been reading the posts relating to this particular insurance firm and would I be right in saying that they don't 'care' about modifications at all?

My understanding is that even performance mods won't affect your premium unless you increase the engine size... is this correct also?

If so, in my opinion there is something very fishy about this company.

What happens when your Scoob gets stolen and they intend paying you book value for it, at which point you pipe up and say, "wait a minute, I had £1500 alloys, £2000 I.C.E., numerous body mods etc etc" you get the picture.

If they don't document the mods prior to quotation/cover, how the hell can they be covered?

Just about every reputable insurance firm out there require a comprehensive list of what has been done to your car in order that they can cover each thing. A value should also be agreed between broker and policyholder should it be written off or stolen. Some companies also want an engineers report if power has been hiked considerably.

How can L&V operate without these mentioned items?

If my car were insured with them, I'd be worried. Very worried.

My current insurer (Privilege) who gave a very good quote, aren't very mod friendly unfortunately, and wanted £256 per year to add 18's!!!!!

Hmmmmmmm

Your thoughts?

Andy McCord

I agree with your comments regarding L&V, they are very strange in there operating practice, until i get the main booklets to see whats covered & not covered i cant really comment.

I attempted to tell them what mods i had only to be met by the statement, " we dont take mods in to account" why i know not!! then theres no discount for tracker being fitted, again very strange, undoubtedly they are by far the cheapest, time will tell as to whether they are good value, they guarantee you a courtesy car, whereas my current insurer (ex) direct line dont, £50K legal fees. I have not seen to my knowledge any bad posts relating to payouts to scoob owners. weird company!!!!!!!!!!!!

Ratman

You inform them what mods you have, they list these in basic form on the policy (e.g. exhaust modifications, wheel/tyre modifications), they don't charge you extra premium, but you keep your (mod) receipts for the event of a claim.

That's the theory, anyway. Thankfully not had to register a claim yet to test!

Ratman
MY98 Wagon

Ian E

iTrader: (1)

Just taken out a policy with them. They weren't interested in the mods but asked me to keep receipts or take photos as proof in the event of a claim. Makes a refreshing change

Up_North

Ian E - thats exactly what they said to me.

Ian

Scoobydick

LV seems sensible to me - a modified car surely has a similar chance of being stolen or crashed than an unmodifed one - if anything the owner probably takes better care of it. They don't just pay out for anything - it is up to you to prove you had the mods in the first place and what they cost just like any other insurance. I have madw a claim with them (no mods involved) and they were way better organised than direct line / tesco who I have dealt with in the past. Also I have found that you are automatically covered to drive any courtesy car you get from a garage whilst having a service done etc. In the past again with DL/Tesco I have had to mess about adding the courtesy car on to my policy as an extra vehicle for a day and paying about £30 because my dealer makes you get your own insurance.

In summary I love LV - also got in before they only stared taking over 30's - woohoo.

The whole thing is too complicated to look at in your simple terms ie cost of premium related to value of vehicle (with or withoout mods) - there are plenty of cars which cost way more to replace than an Impreza but premiums are way lower. They all just go on statistics anyway so unless there is some evidence in the history of claims that modifed cars make more claims then there is no reason to charge more - the other companies are just ripping us off - hopefully others in the industry will change this old fashioned way of doing things.

greg.g

I phoned up L&V yesterday for a quote as my insurance is up next month.
Their price was very good
When i tried to tell them what mods i have, they said it didnt matter as long as i had reciepts for them.
I can understand this approach for wheels, brakes etc, but if you boosted your bhp by lets say 80bhp, surely that should make a difference
Too a certain degree, if you insure your car for a higher value because of the mods, it may make sence.

I think i will give them a go though

Greg

mr.nick

I'm also with L& V. I'm guessing that through us guys telling each other about their fantastic deals, they've got so much business from Scooby and other high spec motors that they're happy as Larry to insure anyone, driving anything! Long may it continue.

Good on 'em.

Dazza01

I've just taken out a policy with L&V for a MY97 UK Turbo (Scooby_Si) motor,
F/C me and the missus (not that she gonna drive it much) protected NCB,
AUDIO EQUIPMENT TOTAL VALUE £300 but he explianed that they are looking at changing this soon.
Try asking ur house insurance if they u would be covered for the remaining amount, im covered for theft in the open but not sure if its the same as.
MODS they weren't bothered as long as i have receiots for what as been done and plenty of pic's to prove.
Plus all the other stuff u get....
Total £502 bloody good i'd say

[Edited by Dazza01 - 8/21/2003 3:11:10 PM]