MOTOR VEHICLE ACCESSORIES – HAVE YOU INSURED THEM CORRECTLY
Remember how you felt when you finally found the vehicle you were looking for? Everything was exactly what you wanted – because you ticked all the options boxes which reflect your style and preferences.
With a new vehicle purchase it was simple to insure just by sending the invoice to us. All the extras were noted on the invoice. You drove off happy in the knowledge that we had all the information we would need to insure your new baby correctly. But did you tell us about the tow bar or tinting you had installed after purchase? Or did you advise us of the aftermarket rims you upgraded to?
Second-hand vehicles are less simplistic to cover correctly if we are unaware of any non-stock alterations which the previous owner might have made to the car. Second-hand dealers don’t add such options to the vehicle invoice as they typically don’t charge for these options – unless you specifically request the dealer to tint the windows or install an aftermarket alarm system or the like.
So how can you as the consumer get the correct information to insure your vehicle? The Manufacturer’s dealer who sold your vehicle originally would have access to this information by using the VIN (Vehicle Identification Number).
To review whether the options originally fitted are still on the vehicle you could physically inspect the vehicle or ask the dealer to review and assist. Where aftermarket items have been added it is best to source quotes on the replacement values of these items and provide us with this information to ensure that your insurance cover is adequate.
Insurance products can only respond correctly where the items have been insured correctly. To avoid uncertainty or problems from arising at claims stage, check to see if your extras are noted in your insurance policy schedule. For example, should your vehicle be written off and no extras have been specified with their replacement values, you would only receive the current retail value of your vehicle instead of the retail value plus the extra’s values. This could make a significant difference to the amount you receive when claiming.
Our trained staff are always at hand to ensure that your experience with Ambiton remains positive and convenient. Please feel free to contact us on 041 581 7170 should you require any additional assistance.
Our experienced and specialist advisors can also assist you with Financial Planning, Business Assurance, Wealth Management, and Accounting & Taxation Services.
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