Mods and insurance?

[HDDAN]

Originally Posted by mercedestech

I don't know why I never thought of this, but what happens if you total a modded car? I know my insurance company will let you elect extra insurance for aftermarket equipment, but not sure I want to call and say.."I added all of these parts and want to get coverage for them" for fear they might put two and two together and charge a lot more for the entire policy due to the performance nature of the parts. I don't have a lot invested right at this moment, but with the $1700-$1900 I'm getting ready to spend this week, I'd be out $3500 or so if I totaled the car (and thats just in parts as I do my own installs). I can only imagine what some of you guys have in superchargers and turbo systems, wheels etc...

I don't know about your state, but here in Ma, you can not insure the car for more than the stocker is worth. I know because I tried this on my Harley. Here in MA, if you have items that are fastened to the car and you have your reciepts, they will pay for them if the car gets stolen.

[tramtwo]

Originally Posted by Farthestnorth

$45,000 in mods wonder what my insurance company would say?

cha ching

[BLU DUCE]

My Ins. agent,Ins.carrier,and I all have pictures of every thing put on my car before and after it was put on. And the Ins. agent took the pictures himself. And they both have coppies of the originals which they coppied ther self. And I had the papers notarized this is the way I do business to cover my backside.Better to go too extreme and be safe then sorry.

[katman]

Spike, sounds like you handled your modifications the right way. Documentation between you, your agent and the insurance company is the best way to have a claim covered to your satisfaction down the road.
Pipe, demanding that the insurance company cover your alterations is very complicated. Cosmetic alterations are easily covered by an endorsement, go fast parts....not easy. By covered I mean for comprehensive, collision and most importantly Liability. For example driving way too fast down a side street because (for example) you modded your car for 600hp and you hit and kill a pedestrian, your claim to your insurance company might not go as you hoped it would. I'm not picking on you, just using you as an example. That is why detailed documentation between you, the agent/broker and most importantly the insurance company is vital before a catastrophic accident occurs and a victim is severely injured and your records must be updated as your future alterations continue. I'm just trying to have you CYA, because many believe "my agent told me it was covered" is not good enough when the claim happens. "Denial of reality does not make it acceptable" is a common remark from your attorney when your chest deep into a bad liability lawsuit. Unless, of course, your defense is insanity! Good luck everyone, and call your agent for a sitdown and bring him your documentation and pictures of what you have altered on your car and how the insurance company wants to handle your alterations. It is quite possible most of you will need to look for a new insurance company. I would look at specialty auto writers like Haggerty, Foremost, Grundy and JC Taylor. Their more into antiques and classics, but offer coverage to altered cars and trucks.

[Camaro54]

I went with Progressive. The agent took pictures and I gave him a complete list of mod parts. I didn't insure it for the full amount of what I have in it cause they will first start with the price of a used 2010 2SS/RS and then start adding the price of the mods. If I damage part of it then my mods are covered. PM me if you have questions.

[NYJETSFAN]

Wow, I have 10k invested and never thought of calling my insurance company.. Im on it first thing tomorrow.

[Fuel74]

Good topic - I just happened to stop by my State Farm agent today to ask about modding and compettive driving, want to be sure am covered before I sink too much money in. They basically said the mods are not covered and if performance mods, they likely would drop my collision policy. Track days may or may not be covered depending on the situation....

I'm looking for a new company now - will try some of the ones mentioned. Thanks for the info.

[katman]

You are welcome! No way in H*LL State Farm will cover a track day. Read your policy!!!

[Elykson]

Farmer's wouldn't cover my camaro, so i use Haggerty. At least they insure it for it's appraised value.

[brantley847]

Originally Posted by Fuel74

Good topic - I just happened to stop by my State Farm agent today to ask about modding and compettive driving, want to be sure am covered before I sink too much money in. They basically said the mods are not covered and if performance mods, they likely would drop my collision policy. Track days may or may not be covered depending on the situation....

I'm looking for a new company now - will try some of the ones mentioned. Thanks for the info.

Yea.. you don't say competitive driving lol

You can mention they are performance related. I mentioned intake, exhaust, and tune increased my MPGs and so forth. You aren't lying, but I don't go waving the flag that I am tracking it.

[BlkBty]

Biggest reason I dropped my Ins policy from USAA to Geico.. Geico will cover my mods as long as I take pictures and document the mods and submit them to my agent..