VIN number Advice

[Hemi300c]

To answer the code 3 insurance issues the trend in the market is as follows:-
1) Insurers don't like code 3 vehicles and prefer to decline to cover.
2) If an insurer does cover the vehicle some insurers will do limited cover such as Third Party only.
3) If an insurer gives Comprehensive cover the basis would be something like this:-
Market value = R100 000 and premium based on that.
Settlement following a total loss (accident/theft) 65-75% of market value with an excess based on the loss amount.

The reason for the premium being based on market value is because replacement parts would be normal as if the car wasn't a code 3 and the actual value of the vehicle is not that of a std vehicle.

Bear in mind that you have to declare the code 3 status upfront and if the insurer is willing to look at insuring it is best and probably will be a requirement that a assessment of the vehicle be done and this can be done by a reputable dealer or even better the AA. The Insurer could also ask for higher/additional excess's or a higher premium.

 

[Fazda]

Thank you for your reply.
I was scared to do that, because of previous messages in this topic.. I was scared that police can take it away.

My only silent question is how that was possible for previous owners to do roadworthy, licensing and even insurance(previous owner said that it was insured)?

Very often, mistakes are made by the people who licensed the car first, and they can be carried over, and are often only discovered when doing a RWC. You should be fine, the police do this sort of thing all day.

 

[ypk]

Very often, mistakes are made by the people who licensed the car first, and they can be carried over, and are often only discovered when doing a RWC. You should be fine, the police do this sort of thing all day.

Fazda, thank you so much!

Will go there tomorrow and sort it out.

 

[GarthC]

Hi All, I have a Vin number issue. My Natis document and bike vin is a missmatch with a number. Found out it was a human error which is all good. I bought the bike from a dealership and financed the bike. the Vin has been a issue for 2 years. the bike is now stolen and the vin is incorrect to the natis the insurance isnt paying out. What do I do as i was told by the dealership I can keep the bike and they will change it. all parties know about the Vin problem MIOSA doesnt want to help and Insurance Ombudsman said the insurance company needs to pay once I change the Vin. Police need the bike for police clearance to change the Vin is there not a special procedure for unicorns like this?

 

[Zyk1]

Yoh.
Reading all these posts are getting me worried as I am in the process of transferring ownership of my car from bank to myself.
Going to cross-check the VIN and all other numbers properly now