yurizx6r

Hey guys, I've been building my 5.0 for about 3 years now. I recently realized that I have about $14,000 into my car. Now we all know that the value of these cars is subjective and depends on condition and what's done to it. HOWEVER, the insurance companies do not really see it that way. My car is modified to holy hell and I'm afraid that God forbid it were to get totaled in one way or another I would lose all my custom parts and get a BS check for like 3,000. How do you guys over comes this? Would it be possible for me to keep my car and strip my custom parts if something were to ever happen to it? I don't care about the money, it's my time and parts that bother me. I have called this one insurance company to see how much it would be to insure it for 10,000 and they want 800 every six months which I think is high. Tips? Advice? Experience?

CPTCO

You have a couple of options. There are some companies out there that will insure your car for what's worth, but your definitely going to pay for it. But if you are just concerned about the parts, if totaled, the insurance company will usually let you keep the car for what they consider "scrap value". We recently did this on a 2007 Cobalt that my son was driving. Got to keep the car for around $500. It wasn't heavily modified, but we knew we could sell some of the parts.

reldla1996

I totaled my previous 89 Mustang in 1998, and bought it back from the insurance company for 26 percent of the amount they paid me for the car. I then spent the spring of 99 transferring parts from the old 89 to the "new" 89 (4 cylinder auto) I had found to replace the wrecked one.

yurizx6r

Yeah if it's something like I would pay 1,000 or less it would be fine. But I wouldn't want some guy at a junk yard or the insurance companies screwing me out of my own car parts if they put 2+2 together and try to charge me 5,000 or whatever just to get my own car parts back just so they can make a quick buck. Anybody with half a brain could see that there is a lot of money in after market parts and modifications in my car. Do you guys know of any good companies that I could call?

bluebeastsrt

I go thru American collectors insurance. I have the car insure for 18K. I can only drive the car 5000 miles a year and it has to be stored in a locked garage.

mjr46

I used hagarty at one point for the 66 in my sig years ago and had it insured for 18k which is what I had in it, same deal , had to be stored in a locked garage which it was

CPTCO

For regular, run of the mill insurance. I use Fireman's Fund. They have been great.

ticopowell

I would make sure to keep all your receipts, I know USAA will pay for every part that you have a receipt for. Had a friend wreck his highly modded 2011 mustang and got quite a bit back.

yurizx6r

Got ya, thanks for the tips guys! I really hope that I never have to go through it (or any of you guys also), but I would rather find this out first before something did happen. That would suck really bad if it ever got totaled and I would get a bs check for 3,000 when I just spent 14,000. lol

yurizx6r

So I found out from my insurance company that I can purchase "custom parts" coverage. It's like 30 bucks for 2,000 coverage and 116 for 5,000 coverage every six months. So currently I am paying 200 ever six months for full coverage on it. If I add 5,000 for custom parts coverage I would be paying 316. The only downfall is that I need to find every receipt and show them if something were to happen. I don't know how much I trust that.... I guess what I will do is call a few other places and see what they could offer for at least 8,000 worth of coverage or just do the custom parts coverage. 8,000 could pay for a sweet roller and hopefully I could still buy my current one back and cherry pick it if something were to ever happen. Thoughts?