Have You Claimed Your Mods w/Insurance?

[Gunmetal Speedster]

Just wondering if anyone has claimed their mods with their insurance company? It would be a disaster to spend years dumping money into our cars and building them up, only to have the old lady who should have stopped driving 8 years ago run a red light and do a number on your ride. Then to find out, insurance wont cover the extensive cost of the mods you have done.

I'm with Geico, and from my understanding as with other companies as well, is it comes standard for insurance to replace the cost of the parts that they go for coming from manufacturer i.e. if the factory catback costs $1000 from GM, then you would be covered for $1000 on whatever catback exhaust you chose to go with.

That being said, I would think that since most parts are usually the equivalent cost of what GM would charge you for a new one on their part, most of us would be good to go with just the basic coverage. So those of us with basic mods wouldn't need to claim them on our policy, as to where if you started heavily modding your car going FI, cam work, anything else that requires an arm/leg/first child, you would want to claim so you were covered in a worst case scenario. Otherwise, you might see a hike in your premium for aftermarket parts when you would likely be covered in the normal coverages of your policy per say. Just something to think about!

Have a good day!
-GMS

[Welker2]

I also have GEICO and can only speak from my own experience. When I was rear ended, they replaced my aftermarket Flowmaster axel back exhaust without question. In fact, only one side of the exhaust was damaged; but, because they can only be bought in pairs, they replaced both sides. They also replaced a rear (aftermarket) FOOSE wheel that had been damaged without question.

[Synner]

Most companies have an "up to $xxx included" in the standard policy. Then it costs extra in your monthly premium. You still need receipts and preferably photos of installed parts to validate it and back up anything the adjuster states/sees.

[13hotwheels]

There are insurance companies who do have fine print that performance add on's are a violation of their policy which does give them the option of not covering a claim. Look at the fine print and make sure. National General is/was one such company.

[BLU DUCE]

I had my my camaro & 1992 silverado appraised. And got American collectors ins. on both of them for $1,500 a year. Sent the appraisles in to them with pics of both vehicles. Also sent pics of all mods done on them with copies of all receipt of the items put on. I decided to take a $1,000 deductible. Every time I put a mod on the vehicles I send them pics of the item and copy of the receipt.
Any thing that happens to either vehicle if not my fault will be fixed at full cost by my insurance. Them do not pay blue book value for the vehicle if damaged or totaled. I have had this ins. on my truck for over 20 years with no problems. This is just my experience.

[MyLocalDJ]

When I had my Foose Mustang heavily modified, I had it done before delivery new and I had all the mods listed on the delivery invoice through Ford Racing. The invoices and pictures were all supplied to the insurance company and they were told it was a show car. They did hit me with an additional rider on the policy but hey, I was probably almost $30K in mods. Best I remember, the rider was costing me about $180 extra per month. That was back in 2008 and the car was driven daily. I am now at about 130K+ miles and dropped the rider about 1.5 yrs ago because it is mostly a garage queen now. From my perspective, the rider is mainly beneficial if something is my fault or underinsured on the other side. Without the rider and if it is my fault, they would still need to put the car back but obviously not going to cover custom chromed parts, etc. Hopefully nothing ever happens, but if it does, I am sure going to feel sorry for the other person's insurance if it is their fault.

[01pewterz28]

Yes " Grundy Collector Car Insurance" I have my Agreed value @ $40k on my 2010 Camaro I have modified.

[Jayjellyfish212]

Every policy is different so it's always best to call your provider with any and all questions you have.

[Snoman]

Originally Posted by Jayjellyfish212

Every policy is different so it's always best to call your provider with any and all questions you have.

^^^ This

If covered mods are a concern, certainly reach out to your agent to get advice but regardless of anything they tell you, you better read your policy and make sure its in writing.

[Olddudesrule]

Don't compare specialty car insurance like Grundy's or Haggerty to a standard insurance company like GEICO or Allstate. Most collector car insurance plans have "stated or agreed" value statements, so you agree ahead of time what your car is worth. I've had both, and if you want a simpler plan, it may be the way to go. It can be more or less expensive, depending on the car and carrier.

[Snoman]

Originally Posted by Olddudesrule

Don't compare specialty car insurance like Grundy's or Haggerty to a standard insurance company like GEICO or Allstate. Most collector car insurance plans have "stated or agreed" value statements, so you agree ahead of time what your car is worth. I've had both, and if you want a simpler plan, it may be the way to go. It can be more or less expensive, depending on the car and carrier.

Collectors insurance is less expensive almost 100% of the time. Especially once you factor in coverage limits and if your vehicle is stolen or totaled. I cannot fathom a scenario that would generate a reason to stay with standard driving insurance if you qualify for Grundy or Haggerty. There are scenarios whereby the annual is more expensive, but generally because the owner has asked for an unrealistic level of stated value coverage. Like, covering a Z/28 for $100,000 vs. $60,000.

You can get $45k in vehicle coverage with $3MM in umbrella liability with $2,000 "garage coverage" for tools and flat bed towing for around $600 a year. Double to $90k and you still cannot purchase comparable insurance anywhere close to this for $100/month. Standard insurance umbrella limits are generally $100k-$300k and if your car is ever totaled or stolen, you will lose tens of thousands to depreciation.

Married with kids and multiple vehicles is generally the only time standard insurance payments might be cheaper from a cash flow perspective. Even then, saving $25/mo buying a sub-standard insurance policy that leaves you and your family exposed simply isn't worth the risk, ever. Grundy / Haggerty policies are far superior.

The cost savings for many people, will allow you to purchase a second vehicle as a daily driver and still save money. Especially if you are young and/or single.

[solo3445]

Originally Posted by Olddudesrule

Don't compare specialty car insurance like Grundy's or Haggerty to a standard insurance company like GEICO or Allstate. Most collector car insurance plans have "stated or agreed" value statements, so you agree ahead of time what your car is worth. I've had both, and if you want a simpler plan, it may be the way to go. It can be more or less expensive, depending on the car and carrier.

I have haggerty insurance for 2 years now value at 50,000 on my car and it was about the same as State Farm


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[Bulldog3071]

I just spoke with my insurance company on this matter and had an additional $20K for my modes added, im with Allstate

[SnowyCamaro]

Mine has up to 5k in aftermarket parts. However lighting is kinda weird so if I have aftermarket LEDs those wouldn't really be covered but they would likely give me a cheque to buy new ones.

I was looking to switch insurance companies recently and the cheaper one I was looking at had a policy to drop you or deny claim if any mods were on the car including my intake, and even lowering springs would make them drop you. Cat back exhaust not allowed... Nothing was allowed. Always talk to your insurer