spitfir3blue

after putting in new gears and a limited slip differential, or installing dual exhaust, or even a CAI, does your insurance increase? I assume not, cause i'm not about to go tell my insurance company that i just added $2000 worth of aftermarket products, and i doubt you would either (unless thats required, forgive mah ignorance on the subject). But does that mean if you get in a wreck thats not your fault, do you just basically get screwed as far as the money you put into the car goes?

a_penquin

You could tell them and they will most likely find it a liability and increase rates (unless its something like a car alarm or what not) I go off the "what they dont know wont hurt my pocket" theory. I dont belive they are entitled to compensate for any mods and if they do it wouldnt be full cost anyways. If its that big of an issue you can have the vehicle appraised when done and report and adjust insurance to that, but once again, dont expect your rates to drop

WannaBeGearHead

I can't remember what section this was in, but I remember reading a member here getting into an accident and he was able to get his car appraised with the value of the mods he did. He had to show receipts. I think he was with Geico though.

LilRoush

You'll be lucky to get 40% of your cost if even that much.

Carry what is called 'stated value' insurance. Your monthly rate is based on the amount you claim the car is worth. You'll pay more, but all your mods are covered at that point.

fearthisinc

I am interested in this as well.. I mean I have a 400.00 headunit, 7-8,000 engine, plus body kit, wheels, etc. I mean if my vehicle is stolen I would like to know i am fully covered for these even if it means paying an extra 10-20 a month or whatever it comes out to..

WannaBeGearHead

^ If you don't care about having to pay extra a month, ask your insurance if they will cover your mods if your ever in an accident.

RyansQuick6

My car is covered for every single drop of paint, bolt, fastner, whatever. It involves having the car appraised every 3 months to re-evaluate what it's worth in the event of a total loss. It sucks to see your car depreciate that often, but I never pay for more coverage than I need, and when I add something, my coverage will follow suit.

It cost a little extra, but unless I want to take the $30k I have in my car and only get a $5k check if something happens, it's worth it.

Fink

I know with my insurance company, if I was in an accident I would have to show them the receipts of all the aftermarket parts that were damaged and they will adjust the price of repair from that. If its more than the car is worth than the car will be written off/totalled.

jthorn9

As stated, yes you can have the insurance increased to cover your stuff, but generally speaking, they don't give you a good value for your mods. I have not done any increase to mine, hell I want mine to go down more. If the car get's in an accident, I can still part it out and make more off that that what the insurance will ever cover. Auto insurance is a complete scam IMO, I've already paid them more than what my car is worth and I'm still paying, so not cool.

essexdan

The insurance company likely doesn't care if you've made any mods unless they go beyond the scope of the basic info you told them when you insured the vehicle. Most carriers generally won't deny a claim based on what your equipment is unless there is material misrepresentation in the application. This means that something important is misrepresented, like you have an eight cylinder engine but bought insurance for a six. Other things would include the nature of prior traffic tickets or accidents, where you actually live, other drivers in the household, etc... Even in cases like that they may sometimes be still obligated to pay the claim if they would have insured you anyway (albeit at a higher price), though they might get to deduct all the difference in premium they didn't collect when they pay your claim.

The one thing you need to do is locate the section in the policy that applies to aftermarket equipment. Some policies have a stated amount of coverage for aftermarket equipment that is limited to a certain dollar amount. Some don't. Sometimes there is also a separate section that separates stereo equipment from other aftermarket parts. Heavily modifying a vehicle can actually cause it to lose value as the more heavily modified a vehicle is the smaller the number of people it appeals to.

Stated value policies are okay but need to be backed up with realistic appraisals. Almost all of them still pay "actual cash value", meaning you can insure the car for $100k but if it's only really worth $30k then you get $30k. Insuring a car for more than it's actually worth is a waste of money.