Quote:
Originally Posted by Kostamojen
As mentioned, you would be offered stock replacements in this case or the value of said stock replacements. If you insisted on having those extremely expensive parts that the car did not come with insured, then no you won't get covered for those parts (especially the turbo kit seeing as the car never came with a turbo).
There are insurance companies that offer specific plans for race cars and non-op vehicles, along with collectors cars and such... But a modified car is generally worth LESS than stock car in the used car market, even getting the full value back with said reported mods won't happen. In pretty much any case you are going to loose money.
The BEST scenario as mentioned, is when your aftermarket parts (wheels/suspension/seats/etc.) wind up being less expensive than the OEM replacements. Thats the scenario where the Insurance company loves you to death for saving them money, PLUS you get your aftermarket parts replaced. The same thing can happen with home owners insurance (I.E. replacing a fire damaged floor with carpet instead of expensive wood, or buying a less-expensive computer than the amount you were offered) and sometimes you can wind up with extra money in your pocket too.
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Just to add to this a bit, I've insured my car with Geico since I've had it, and their policy is you declare the extra value for the modification in question, and if it's damaged as a result of a claim, they cut you a check for the declared value.
When I had an accident with my FRS a few years back that destroyed a few aftermarket parts on the car, they just cut me a check to buy replacements. It did make repairs take a bit longer, but the shop was lovely and everyone did a great job.
For kicks, I did a check and the aftermarket parts were more expensive than OEM replacements at the time. Although this was pretty early in the cars life cycle ( March 2013 I think), so the aftermarket parts were probably easier to get.
Still, a 5% bump in my premium was worth the peace of mind. Your mileage will probably vary wildly based on your insurance though.
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Current mods: OFT Stage 2 (w/93 oct), OFH, Perrin Resonated catback, DSS Aluminum Driveshaft, Perrin drop-in filter, Avo silicone inlet, Mishimoto catch can, Grimmspeed MCB, Perrin crank pulley, Nameless overpipe/downpipe combo, DBA slotted rotors, Ferrodo brake pads, goodrich SS brake lines, DOT5 synthetic brake fluid.