Best modification option for an agreed value policy?

[JSP]

The engine on my 1.7L Puma has died, so I will be getting a new one put in.

I have the option of putting in another 1.7L Puma engine and whilst I'm at it having it tuned/remapped to make it a bit quicker, or I could have a completely different engine put in it, (either 2L or 2.3L Duratec).

Ball park figures are around £3k for the Puma engine and £5k for either of the other two.

With the Puma engine being the cheapest option I naturally favour that one. However, I am worried that having spent the £3k on it, if someone runs into me it'll be written off.

I understand that I can have an agreed value put onto my policy, (subject to my insurers approval), which would allay my fears a little but in that case am I best sticking with the Puma engine tuned or should I just go for a different engine? I am wondering if, (because it's a more expensive modification), it would increase the agreed value of the car more than the tuning of a standard 1.7L engine would.

My broker was unable to give any indication because I'd need to fill in the form and the insurers make the decision, but they'll only do that once the mods have been done. Whereas I'd like to know the effect it'll have on the cars value before I make the modification as it will effect which one I choose.

Any member views/experiences regarding this would be much appreciated, as would those from anyone in the insurance industry.

Thanks in advance.

 

[JSP]

Just to be clear, I have no intention of trying to increase the value for re-sale, I am very happy with my car which is why I'm going to the trouble of putting a new engine in rather than scrapping it.

However, I don't want to spend £3k - £5k for it only to be written of because someone runs into me. As I imagine the book value, (for insurance purposes), of a 17 year old Puma is next to nothing it wouldn't take much to for it to be beyond economical repair.

Basically, I either want the cost of the mods included by the insurance company should they be deciding to write it off or not, or some sort of GAP insurance to cover the cost of any mods on the car.

I'd be grateful of any advice, thanks.

 

[Dal]

I have the option of putting in another 1.7L Puma engine and whilst I'm at it having it tuned/remapped to make it a bit quicker, or I could have a completely different engine put in it, (either 2L or 2.3L Duratec).

Ball park figures are around £3k for the Puma engine and £5k for either of the other two.

What are you having done to the 1.7L for it to cost £3k?

:shock:

 

[JSP]

Don't know at the moment, the current engine is knackered. So they need to remove the current engine, install another 1.7 and tune/remap to try and get somewhere near 200bhp.

As it went kaput suddenly this is not something that's been planned, so it's sat for a couple of weeks waiting for them to get to it. Once they do they'll send me a list of engine mods to pick and choose from. However, as a rough idea they said in the region of £3k for that option and in the region of £5k for a different engine to be put in.

 

[PumaJay]

I'd be going down the route of the Duratec Fiesta ST lump if it was me... 150bhp out the box and endless scope for more power. A much better engine that the 1.7

 

[ArtfulHussy]

I've always wanted that in my car too. Or possibly the new 1.6 ecoboost in the st.

Adrian Flux just sorted me out easy peasy with modded insurance for my coilies etc.

 

[PumaJay]

Getting a modified car insured is simple, for mine which is extensively modified and used on track days i pay £250 fully comp a year and thats with everything declared.

The EcoBoost 1600 turbo would be a fantastic engine for the puma!!

 

[ArtfulHussy]

You can pick up a new or low miles pallet engine for £1000. Dunno how much a gearbox, loom and all the other bumf would set you back but spose the biggest cost after purchase would be modding the bay to house it. The plus side being I guess that you have an engine that you wouldn't immediately need to modify to see gains, wouldn't upset the handling too much but will have scope down the line for more mods once you'd saved up more puma tokens. If I could afford it its probably what I would do. Alas I have no monies!

 

[DAN@ADRIAN FLUX]

I've always wanted that in my car too. Or possibly the new 1.6 ecoboost in the st.

Adrian Flux just sorted me out easy peasy with modded insurance for my coilies etc.

Hi,
Glad we could help out with your insurance.
Regards,
Dan.

 

[Lord B]

to get an agreed value well over what a standard car is worth, often you would need seriously documented records, and sometimes a professional valuation, however they aren't going to give you new for old on parts, and are unlikely to value labour on a 'what you paid' basis, as a basic forget anything that is labour associated with wear and tear components if car was not new.

You can't buy a car for £500, buy new suspension, remap, turbo kit etc for 3k pay a garage 1k to fit it all, and say your car is valued at £4500 even with receipts.

 

[JSP]

Yes, that's my concern.

If someone runs into me causing £600 of damage, I don't want the insurers to say it was a £500 car and just write it off.

I appreciate there will be an additional premium to be paid, I just want to safeguard what I've spent.

 

[JSP]

As mentioned, the costs come from the labour required to get it fitted into the engine bay, (more than the actual engine will cost), and the necessary uprating of any other bits needed due to the additional power. However, I'm only looking for it to achieve somewhere in the region of 200bhp so hopefully that element will be minimal, but we'll see.