Word of warning to the wise…
replacing old for new is not always a good idea…. value engineered modern parts do not appear to be standing up to the test of time -http://www.bavariaowners.co.uk/forum/phpBB3/viewtopic.php?f=3&t=812&p=2939&hilit=exhaust#p2939
My point was not to the “regulatory replacement” of critical parts but the add on list of perhaps nice to haves….
I totally agree with abiding by the insurance requirements – at the end of the day they are there for a reason and hopefully could end up saving your life as well as a few quid!