I was with Pace Ward brokers on a modified car policy (Zenith) for my modified Evo IX when I swapped to the RS, so just continued with them and didn’t pay any extra at the time. I have induction kit and remap listed as modifications (even though I haven’t got the FPM375 fitted yet), and this year my renewal at the beginning of March was just over £500. Excess is high on that policy at £550.
I shopped around and standard unmodified RS insurance could be gotten at £320 with a £100 excess, but woe-betide anyone who fits the FPM375, it jumps to over £500 with a siginificant rise in Excess.
Other details are age 47 no points, no claims, protected 20 year NCD, 9,000 annual miles, locked garage overnight, secure car park at work (under live armed guard) on a Lincolnshire postcode, access to another *much* more powerful car. So nothing to increase the premium except the postcode part and maybe my occupation plays a role too???? Mrs also on policy: no points or claims, etc. – which should serve to reduce the premium as well…
And the other car is cheaper, despite being twice the value and 480bhp exotica! It is, however, “unmodified”…
Nothing really makes sense in the world of insurance under-writing, they’re just out to make money, after all, and the type of cars we drive are not the loss-leaders, so they have to make up for the other loss-leaders by adjusting the scales elsewhere. Which to me is subversive and plain unethical, but unethical is what business thrives on – as long as it is “legal”.
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