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I don't quite see your logic there DanDan.
I'm basically saying if my car as is probably has about 7k worth of additional mods excluding labour costs for example and market value is 7k are you saying you would pay out £14,000 ? If I wrote it off ???

If not I can't see the point of the cover as I'd rather tow my car home strip it and transfer everything Over to a new car ?
 

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You have to consider that Sky also charge each time you add a modification whether it be an increase in premium or an admin charge that should be factored into your quote if you intend to modify your car during the length of the policy and how many of us add all our mods in one go....not very many so this could lead to a dramatic increase, where as Greenlight don't do this they simply add them to the policy and with me it has had very little affect on the policy costs, they increased my premium by £40 for going from standard to stage 3 and then nothing for pushing it to 400bhp and then the policy dropped £150 this year come renewal time.
It is a little off topic as trackday insurance is being discussed but as it is being discussed then it's worth noting that we ask customers at quotation and renewal stage if they have any future modifications planned for mid-policy. If there are, we make the insurer aware of these and then no charge is made when the customer fits them. A lot of our customers take advantage of this, in fact I have incepted policies for two Focus's on this basis, today. I am sure the response will be, 'Well, I don't know what I'm going to fit' , that's fair enough, perhaps you do not, but most people will, or will at least have a rough idea.
 

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I'm basically saying if my car as is probably has about 7k worth of additional mods excluding labour costs for example and market value is 7k are you saying you would pay out £14,000 ? If I wrote it off ???

If not I can't see the point of the cover as I'd rather tow my car home strip it and transfer everything Over to a new car ?
Are the modifications adding £7k to the value of the car DanDan? Our insurers would look at each case on it's own merit so it is hard to be specific.

Having a claim on track and having trackday insurance is always going to leave you in a better position than not having trackday cover in place. Also worth baring in mind that salvage retention is often available. So in your case, you get your payout for the car, you buy the salvage back, you take off all the salvageable mods and transfer them over to the new chassis.
 

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Are the modifications adding £7k to the value of the car DanDan? Our insurers would look at each case on it's own merit so it is hard to be specific.

Having a claim on track and having trackday insurance is always going to leave you in a better position than not having trackday cover in place. Also worth baring in mind that salvage retention is often available. So in your case, you get your payout for the car, you buy the salvage back, you take off all the salvageable mods and transfer them over to the new chassis.
That's good to know that it could be covered and yes the additional mods to buy alone I'm sure are close to 7k

Thanks for answering !
 

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Discussion Starter · #25 ·
the additional mods to buy alone I'm sure are close to 7k
I've spent £15k on modifying and improving an old 1988 MR2, but I know it's not money I will get back through a car insurance policy, it's money I've spent because the car is my passion. That's is how I look at modifying a car personally. The value of my own car has increased a little but this is more down to restoration work than the modifications. If anything happened to my car I'd get it back home and re-shell it.
 
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