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andyupnorth · Feb 1st, 2004, 12:09 PM

Quote: Originally Posted by dietcokeplease

I agree that you should tell your Insurers. OK lets ignore the argument that Insurers are thieving gits and the principle of paying an equitable premium for an equitable risk.

Let's take the scenario that you are involved in an accident and are rendered unconscious. The accident was your fault and now you're lying in hospital. You have no way now of reverting the car back to standard. The Insurance Assessor views the car the next day and he has a hunch something is iffy. Maybe it's the modded nature of your car. He pulls the car in and checks and finds out that it has been chipped. Result? Well they won't pay out on your £15k MINI for a start. They will be required to cover third party losses and injuries. The third party drives a £20k Mondeo which your Insurers replace. They also pay the health trust £10k for your and the other drivers care. The other driver suffers injuries and suffers a permanent disability upon which £250k is awarded. Legal and other costs amount to another £20k. So that's £300k paid out so far. As your Policy has been voided your Insurers pursue you.

Say bye bye to your house. But I don't have a house? OK, Have an attachment to earnings order for x years and lose 40% of your income. But I'll make myself bankrupt? Won't work, you should have done that before the accident. If you make yourself bankrupt after the event the judge will throw it out.

I've seen a lot of cases like this when I worked for an Insurer.

At the end of the day it's your risk and up to you whether you feel happy doing so.

I so agree with the above. I have a mate who is an insurance loss adjuster and they are well aware of modded MINIs - in fact as soon as they see a MINI One that looks a bit non-standard alarm bells start going off. Oh and the chips are not undetectable - whatever the companies that sell them claim. The slightest whiff that you lied on your proposal form and they just dig their heels in and refuse to pay out. £500 is a lot mind.

Feb 1st, 2004, 12:09 PM	#8
andyupnorth MINI2 Master Join Date: Aug 2003 Location: Newcastle Local Time: 02:52 AM Posts: 767 Offline	Quote: Originally Posted by dietcokeplease I agree that you should tell your Insurers. OK lets ignore the argument that Insurers are thieving gits and the principle of paying an equitable premium for an equitable risk. Let's take the scenario that you are involved in an accident and are rendered unconscious. The accident was your fault and now you're lying in hospital. You have no way now of reverting the car back to standard. The Insurance Assessor views the car the next day and he has a hunch something is iffy. Maybe it's the modded nature of your car. He pulls the car in and checks and finds out that it has been chipped. Result? Well they won't pay out on your £15k MINI for a start. They will be required to cover third party losses and injuries. The third party drives a £20k Mondeo which your Insurers replace. They also pay the health trust £10k for your and the other drivers care. The other driver suffers injuries and suffers a permanent disability upon which £250k is awarded. Legal and other costs amount to another £20k. So that's £300k paid out so far. As your Policy has been voided your Insurers pursue you. Say bye bye to your house. But I don't have a house? OK, Have an attachment to earnings order for x years and lose 40% of your income. But I'll make myself bankrupt? Won't work, you should have done that before the accident. If you make yourself bankrupt after the event the judge will throw it out. I've seen a lot of cases like this when I worked for an Insurer. At the end of the day it's your risk and up to you whether you feel happy doing so. I so agree with the above. I have a mate who is an insurance loss adjuster and they are well aware of modded MINIs - in fact as soon as they see a MINI One that looks a bit non-standard alarm bells start going off. Oh and the chips are not undetectable - whatever the companies that sell them claim. The slightest whiff that you lied on your proposal form and they just dig their heels in and refuse to pay out. £500 is a lot mind.