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Location:
Bayside Melbourne.
Registered:
May 2003
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 Insurance for modded cars.
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Thu, 28 August 2003 01:03
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What the deal with insuring a modified car??? Is there anyone out there that will insure you for damage as well as theft? So far I haven't had a car that falls into the "modified" category (the most being big wheels and an exhaust) so I don't know if its possible to get a comprehensive policy.
I have the dosh to spend on a car but if I somehow got it stolen or smashed up, I would be totally screwed financially. I have been looking at a Cressida with a 1JZ-GTE but it'd be too much of a risk to buy it without some kind of backup.
I reckon most guys at ToyMods would have experience in this area.
Thanks, Simon
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Location:
Adelaide, SA
Registered:
May 2002
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Re: Insurance for modded cars.
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Thu, 28 August 2003 01:44
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I've got comprehensive insurance from Just Cars for my 1jz powered ma70 Supra. It cost around $900 pa for an over 25 yr old, rating 1 driver with only 1 speeding fine ever. They do claim to have "unlimited modifications" included in the cover, as long as you inform them what they are but I've heard some people haven't been able to include all their mods (eg wheels that cost half as much as the car).
I'll be testing that "unlimited modifcation" cover shortly when the 1jz goes from twin to single turbo....
Just Cars are underwritten by AAMI so should have enough cover for you.
Still, if you are at fault due to high speed etc I'm not sure many insurers would cover your own damage.
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Location:
Bayside Melbourne.
Registered:
May 2003
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Re: Insurance for modded cars.
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Thu, 28 August 2003 02:49
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So Lumpy, is your car insured for what you paid for it or just a nominal amount? ie: policy covers damage to a maximum of $xxx.
Plus, I'm only 21! I might be given the arse you reckon?
I've tried enquiring before about insurance and bloody AAMI wants $2200 a year for comprehensive, RACV $2700 for my STOCK Cressida. I had my VK Commodore stolen in 2000 and a year later fucked up the rear end of some old guy's Camry with my VL Calais. That might have something to do with it. 
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Location:
Brisbane
Registered:
November 2002
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Location:
Adelaide, SA
Registered:
May 2002
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Re: Insurance for modded cars.
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Thu, 28 August 2003 08:56
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My car is insured for market value, so if it ever gets written off, I'll be a lot worse off, even if I can argue it is worth more than a stock ma70. You're always worse off if you crash.
Normal car insurers generally wouldn't touch me when I was under 25 and wanted an imported (still Aust delivered) sports car (OK, OK, GT-Car  ). You should have heard some of the quotes - $3900 pa for a mk2 supra!! I managed to get comprehensive insurance for the ma70 when it was NA but it cost me 1200 pa ( I was 24). When I was 25 I suddenly became a heaps good driver and the premium dropped to $800 - and didn't go up when I turbo-ed it!! Then, the insurance company had another hard look at the mods and said Nooooooo (just after the policy ran out - funny that). Remeber I've never had a crash, and at that stage by some miracle had never had a speeding fine either.
Just Cars will insure just about anyone for the money. The biggest problem I can see is that you've wasted your young life driving commodores  ! Should've got a Cressie years ago - then you have more history with the insurer, probably a better claims record and would be in a better position re: insurance. That said if you are less than 25 and want a turbo.... get he wallet out.
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Location:
Colac, Victoria
Registered:
May 2002
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Re: Insurance for modded cars.
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Thu, 28 August 2003 08:57
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youll be hard pressed with shannons ( who im with ) to get modified insurance - unless you want to be paying well inexcess of multiple thousands per year
I pay about 1800 a year on modified insurance for my GT4 - mind you i have a good driving record and im 25 too
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I supported Toymods
Location:
Epping, Sydney
Registered:
May 2002
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Re: Insurance for modded cars.
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Thu, 28 August 2003 09:36
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unless you're terribly worried about being at fault in a crash, get 3PP and a good alarm.
justcars charge me only a little over $600 for 3pp, which I figure is pretty good (considering I've never done any damage to my car in a crash, beyond what can be repaired with $50)
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