Is your FI installation insured?

[86-tundra]

Originally Posted by stugray

A couple things:

1- If you do not tell the Ins. company that you increased the value of the car, then they will not insure it for more than the value they believed it was worth since you began the policy.

2 - If you tell them that you are making performance mods, they will assume you are a more aggressive (higher risk) driver and you will have a higher premium IN ADDITION to the higher premium because the car is worth more.

3 - If you DONT tell them and total the car, they can be ****s and deny your claim entirely because you made performance modifications (see above) without informing them.

Check your current policy. You will see wording to that effect.

Hm, idk that I have a problem with this.
If you increase the cost of your car by let's say $10k, wouldn't you expect to pay a higher premium anyways? I don't have a problem having a higher premium if it means I'm going to get coverage. I have a problem with the possibility of losing $10k in the blink of an eye.

[Sportsguy83]

Originally Posted by trevorovert

Insurance for $20k is stupid? Did you insure your car at all in the first place, if it is worth $20k?

No matter what you meant by stupid (expensive), I just don't see how you can have something worth $20k that isn't insured. I understand people make certain choices, but there is someone out there willing to insure it, I promise you. Yes, you will likely pay a higher premium, but I just wouldn't be willing to risk that.

-edit- I'm sure your $20k includes fabrication, tuning, etc. But I know places like hagerty will insure that for you, and at a reasonable cost. They will insure the labor as well

Meant stupid expensive

Sent from my SM-N900A using Tapatalk

[King Tut]

Originally Posted by Drift&Drag

Yes, my insurance policy includes supplemental coverage for "aftermarket additions". Had the same policy other modified cars in the past, which was well worth it.

Most insurance companies operate this way. Some already have a set dollar amount built into the normal collision/comprehensive coverage for aftermarket additions. I would not expect that to be any more than $5000. If you wish to have more coverage added on, then contact your company and tell them you wish to have x amount of money for aftermarket additions added on to your policy. They will happily take your additional premium each month. For guys with really expensive builds you could switch to a non standard collector car type insurance company where they charge based purely on your perceived value of the car.

[King Tut]

Damn forum database error made me double post.

[Drift&Drag]

Originally Posted by King Tut

Most insurance companies operate this way. Some already have a set dollar amount built into the normal collision/comprehensive coverage for aftermarket additions. I would not expect that to be any more than $5000. If you wish to have more coverage added on, then contact your company and tell them you wish to have x amount of money for aftermarket additions added on to your policy. They will happily take your additional premium each week. For guys with really expensive builds you could switch to a non standard collector car type insurance company where they charge based purely on your perceived value of the car.

Well said!

[ZionsWrath]

IMO people need to approach modifying a car as a hobby; i.e. somewhere they spend their disposable income where they have no intention of recouping any part of it.

[bjun]

Quick question, I have over $20k in mods, haven't told insurance. But what if you get in an accident where you are not at fault and the other party claims 100% at-fault. Then does their insurance cover all your mods?

[sshole]

Originally Posted by bjun

Quick question, I have over $20k in mods, haven't told insurance. But what if you get in an accident where you are not at fault and the other party claims 100% at-fault. Then does their insurance cover all your mods?

No.

[King Tut]

Originally Posted by bjun

Quick question, I have over $20k in mods, haven't told insurance. But what if you get in an accident where you are not at fault and the other party claims 100% at-fault. Then does their insurance cover all your mods?

Yes.

Go through your insurance and they will get the amount required to repair your car to previous condition from the other party's insurance. If you go through the other party's insurance this may not be the care.

[bjun]

Ah thank you @King Tut, always informative and helpful

[B-R-Z]

Adding coverage for mods/customizations isn't as expensive as you may think. I work in the industry, with my co it's about $10-$12 per $1,000 of coverage, per year, in the northeast.

I will insure every mod. I wish I'd done this prior to my integra gsr getting stolen and stripped 10 years ago.

[bjun]

Originally Posted by sshole

No.

But there's a law saying the insurance must return your car to its previous state before the accident

[gator2b2003]

Called my Allstate agent to look into adding some additional coverage, and she said they don't offer anything like that for cars. Looks like I'm going to be shopping for different car insurance again, suck because I just did it like 6 months ago.

[King Tut]

Originally Posted by B-R-Z

Adding coverage for mods/customizations isn't as expensive as you may think. I work in the industry, with my co it's about $10-$12 per $1,000 of coverage--in the northeast.

I will insure every mod. I wish I'd done this prior to my integra gsr getting stolen and stripped 10 years ago.

I hope that is every 6 months as $20k in coverage would be an extra $200 to $400 a month if you are talking monthly.