Help please: Insurance Question!

[Irfan]

Hi guys. I work for an insurance company and they are thinking of introducing the black box idea like Norwich Union for younger drivers. Anyways I suggested that we should cover modified cars (with restrictions).

I've been told I have to submit a proper arguement to take to the underwiters etc. I need to put down the pros and cons but at the moment the cons are far outweighing the pros lol. Not a good thing! Has anyone got any ideas?

Secondly what would make you insure your car with a company (apart from the price)?

Any help appreciated

 

[fUbAr]

pros to insuring modified cars?

:: The owner is more likely to look after a modified car better

:: Most modified car owners dont mind paying a little extra to get good cover for their mods.

:: Quite often, mods can make a car safer

:: Mods will be declared properly, and not just "forgotten" about on renewal leading to a void policy

What would make me insure my car with you?

:: Your telephone manner/helpfulness. After all, its a person on the phone who i will be speaking to when i need to claim.

:: Excess amount

:: Like for like modification cover

:: Optional trackday cover

:: Knowlege of cars... amazing how many companies argue that my car must be a williams. Puts me right off.

 

[edde]

Free trackday cover would be nice.
Modification friendsly and preferably smoen who knows what a lowering kit means. No rules like no performance enhancing modifications as surly that removes a lot of things.

 

[Irfan]

That trackday cover seems like a good idea, nobody else has thought of that. However I can't see it being automatically included in a policy for free as it is seen to be really high risk.

What do you guys think of the whole black box idea for younger drivers? Is it worth paying lower premiums for?

 

[edde]

That trackday cover seems like a good idea, nobody else has thought of that. However I can't see it being automatically included in a policy for free as it is seen to be really high risk.

What do you guys think of the whole black box idea for younger drivers? Is it worth paying lower premiums for?

There is a company who do it for free at the moment with an increased excess it maybe high risk but since many people claim on road polices anyway I don't see the problem its good PR. I'd be interested to see the claim rate I bet its no worse maybe even better than other polices as tracked cars can often be looked after better