Quote:
Originally Posted by Kostamojen
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..
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I think one of my points was missed.
IF the insurance company believes they were insuring a young kid in a mild-mannered $20k car with nannies when they were in fact insuring a wild-man boosted 500 hp track car to be driven on the street (exaggerating for effect), worth $50k then the insurance company can deny your loss claim
entirely because you were misrepresenting your true "risk level" and should have been paying more all along.
So you might actually want to downplay all your mods in some cases with the claim.
