I have been tucked right up with my insurance just started a policy just over 2 months ago with right choice insurance brokers limited for a Nissan skyline r34 with mods, etc, 305bhp paid £559.96 I have 5 years no claims 43 years old and clean licence. Sold the skyline 3 weeks ago and just brought a cosworth running stage 3, phoned my insurance brokers to change my policy to the cosworth guess what? double stitch up! (1) my currant policy do not want to cover the cosworth as its more than 20% power upgrade!!! so if I stay with them have to pay another £1200!!!! (2) if I cancel my policy and go with another broker they will only refund £114 of the £559 I paid!! I am pretty stressed out at being so shafted!! so what are my options? if I put the car back to around 250bhp by winding the boost right down to about 8 psi? then they should adjust the quote inline with what the skyline was? no way am I paying £1200!

 

Right... if you leave your current insurer now you're basically down £445 for the rest of the time the policy would have run until. So to get a better deal elsewhere, you need to get a quote of £755 or cheaper by my reckoning: that's the extra £1200 you would have had to pay minus the £445 you'll lose by leaving them.

So do you think you can get a quote of £755 somewhere else? You should be able to at that age surely?

Try Keith Michaels, or other specialist insurers. If trying Keith Michaels, ask if they have member of the sales team who specialise in Cosworths. All the phone numbers are here http://www.keithmichaels.co.uk/conta...-insurance.php

Gary Moulson, for e.g., is the man to speak to for Subarus and can get you a better deal than the other staff as a result of this, so there might be someone that can help with Cosworths.

 

Read your terms and condition as they seem to be offering very little considering the policy is only two months old.

Try a few places, need2insure seem pretty good, speak to Paul B as he likes his RS's and is a nice chap.

Maybe look at classic policies as they may be cheaper, you don't earn ncd, but then the policies can often be so cheap you wont care.

I was insuring a 5k series one for £185 a YEAR fully comp, and have know some to have saffs insured for £250 a year fully comp, agreed value etc etc

 

gone with Greenlight £537 as they have given the best quote but really p*ssed off with the way I have been treatedwith RCIB never use them again

 

To be fair to them, unless you asked at the time of arranging cover if they would also cover a much more modified car, how is it their fault that you ended up on a scheme that doesnt cover such vehicles?

Its very unfortunate for you its turned out that way, but I dont really see how that is being "stitched up"

 

both cars are very modified! greenlight quoted me £580 for the skyline the cosworth is cheaper to insure the thing that stings is the little amount they are refunding

 

Yes, with a couple of percent power increase on one and a 50% power increase on the other, it seems logical to me that some policies would have a problem with that sort of difference

Im sure you will be happy you have ended up at greenlight, most people I know who have been insured with them have been very happy.

 

Chip do you work or have shares with RCIB

Yes greenlight no problems, have used them before

I offered to change it back to stock power, by removing the stage 3 chip and turning the boost right down to 7psi and they still wanted £600
which ever way you look at it I feel tucked up like a kipper

 

No mate, never even heard of them, was jsut giving my honest opinion that its hardly their fault that you choose a policy that didnt suit the new vehicle you bought, its not like they could have guessed when you took the policy out you were selling the car and buying one with a lot bigger % increase in power so if you didnt ask them if that would be still covered, it doesnt seem like their fault thats all.

 

I had this with my bike insurance re insured paid in full. I knew i was changing bikes so i got a quote the new bike with them before i re insured my old bike and they said they would insure the new bike for £300.I thought great as it was only £100 more than my current bike.
Sold my bike and bought the new one phoned them up and they said they wanted another £400 from me on top of the £200 that i gave them only a month before. i told them to f**k rite off and to give me my money back but i only ended up getting £50 back better thaan nothing but i learnt not to pay the full amount at once, so i just pay it monthly now.

 

Most "pay monthly" insurance, isnt, its actually an annual charge, then a monthly loan agreement, and if you cancel the policy, they give you your 50 quid back still, and you still have to make the payments to the loan company till you have paid off.

Thats literally 99% of the "pay monthly" deals out there, go and read your smallprint and i bet its your current one too!

 

I know there is normally a charge like the next months premium or something but i have cancelled a few policys on pay monthly and only had to pay £40 or so better that than loosing £400.Just my experience though.

 

That charge may have been small because you were further in, or because they were more reasonable with how much they refunded, I suspect that in your example with the bike though, you would have ended up no better off with that company had you paid monthly.

Just another thing to watch out for, there are lots of things with insurance people dont realise, and normally they are in the policy documents somewhere, people just dont read them properly!

 

Yeh could be, i agree you should read your docs closely they really have got you over a barrell either way.
Probably down to people taking out insurance to get a certificate and cancelling it mabe trying to deter that.

 

The problem you face is because you have such a large power increase from standard (i know cars run higher bhp but form an insuracne point of view) the insurance company then ask well what is he doing to warnt this increase and you are regarded as a higher risk as some lower end mods which give smaller increases can be regarded as helping fule economy like a super chip or something

Unfortunatly i think you are a bit stuck and it is always in future worth checking for quotes before you change your vehicle incase something like this arrises

the way i look at it is you have two main options one to be honest if you were to have an accident unless you have something really odvious on the car they will never know the bhp of the thing if you were to have an accident so just dont tell them its that high

the other option is if you can afford to replace your car your self go third party fire and theft as there are plenty of companies out there who will assist you on a no win no fee basis for vehicle damage if you are not at fault and if you are your still covered for what ever you have hit you would just need to stump the money up for your own car but to be honest the drop from comp to third party at your age will be bugger all

the final option is just be a pest to your insurance company
claim to have been miss sold at the time of inception ask them to look into stuff for you and if they promise to do some thing get a date they will do it by as if they respond over 5 working days late they are in creach of fsa requlations and then you can say you will call the fos etc

sorry none of these are the greatest of options the only other thing i can say is if you have a second car change the secound vehicle onto the policy and save some money then look for new insurance or try and transfer onto the other vehicle insurance

As you can guess i work in insurance with a well known but to be honest now very well liked insurance compan if you have any questions or querrys ill be happy to elp just drop me a mail

 

V8turbo - i might have missed it in the thread but what insurance company were you with?

i have been ripped off by my insurance company aswell, im still pis$ed at it!