Do you insure aftermarket parts?

[Stang70Fastback]

I'm on HRE FF15 18X9s with 255/35R18 Michelin PSS tires. I got the set at a good discount, but normally that wheel and tire combo would cost me around $3500 to buy offhand.

[jawn]

Originally Posted by Stang70Fastback

I'm on HRE FF15 18X9s with 255/35R18 Michelin PSS tires. I got the set at a good discount, but normally that wheel and tire combo would cost me around $3500 to buy offhand.

Yeah, I dunno. Personal decision. I'd rather just keep saving money as per usual, and hope I won't have to use it. The longer you own your car (without having your wheels stolen), the less valuable the aftermarket parts insurance is. Assuming $10 per month, if you own your car for 5 years, you'd have paid $600 dollars towards something you won't ever get back.

If it helps you sleep at night, then I'd get it. $10 dollars per month isn't the end of the world. I'm not in a high-theft area and my Enkeis cost basically the same as the stockers do at MSRP, so I didn't bother.

[Kostamojen]

Originally Posted by jawn

On the topic of wheels, OEM replacements for regular wheels, tires, and TPMS are anywhere between $400-$600 per corner MSRP depending on what they pro-rate your tires to at the time of the theft.

Assuming a $500 dollar deductible, you'll still probably get cut a check for $1100-$1900 dollars. I guess it just depends on what risk you're comfortable with. Assuming they pay out for full-boat OEM replacements at MSRP, you can still get into a set of decent wheels and tires for very little out of pocket. If you're rocking Volks or something similarly spendy, I'd consider the increase in premium for aftermarket parts coverage, but if you're on Enkeis or something more mundane, it's probably not worthwhile.

This. You get covered for the MSRP of the stock parts, which in turn you can use for aftermarket if you so choose. I've had it happen before.

[extrashaky]

Originally Posted by Kostamojen

You just answered your question right there.

Keep full coverage, drive it to the ground. If you wreck it and loose the aftermarket parts, it wont matter since you don't intend to get a cent back from this car because its not an investment in the first place its an expense.

That makes no sense whatsoever. Just because he doesn't intend to sell the car doesn't mean he shouldn't protect the value of it and its components if it makes financial sense to do so.

His scenario: Insurance is available for the parts. He buys it. Parts are damaged. Insurance pays to replace them.

Your scenario: He doesn't buy the insurance. Parts are damaged. He has to shell out his own money to replace them.

Your scenario just throws away money for no reason.

[Tcoat]

I checked with my insurance company and for about $5k in parts the premium increase would be about $20 a year. Pretty damn cheap piece of mind when/if I decide to add anything.

[Ashikabi]

I have been considering this too as my car is getting rather expensive. Does anyone know if you can add aftermarket parts to your policy under theft only? I'm not very concerned about breaking my own parts but if the car were stolen and not recovered or stripped then I'd be out quite a bit of money

[Tcoat]

Originally Posted by Ashikabi

I have been considering this too as my car is getting rather expensive. Does anyone know if you can add aftermarket parts to your policy under theft only? I'm not very concerned about breaking my own parts but if the car were stolen and not recovered or stripped then I'd be out quite a bit of money

Depends on your company I would guess. I have the option of doing just comprehensive (theft, disaster, etc), collision (I hit somebody) or both. Nether one will pay if I do something like hit a pot hole and bend a rim or something like that though so you have to look closely at the conditions.

[Stang70Fastback]

Just got off the phone with GEICO. I'm a bit apprehensive to mention things like coilovers, because I've heard that once you start playing with suspension, it's possible that they freak out entirely and drop you (or maybe that's just a complete rumor.)

In any event, I now have $2500 worth of wheels covered and it added a whopping $2.16/mo to my payments. Definitely worth it since I live in Chicago, lol. Car is garage parked, but obviously gets street parked in some situations depending on who/where I am visiting.

[Kostamojen]

Originally Posted by extrashaky

Your scenario just throws away money for no reason.

Welcome to car modifying 101

And like was stated, you are sti covered for the cost of the OEM original parts so its not like you won't get a significant chunk money if something is damaged or stolen.

[Stang70Fastback]

Originally Posted by Kostamojen

Welcome to car modifying 101

And like was stated, you are sti covered for the cost of the OEM original parts so its not like you won't get a significant chunk money if something is damaged or stolen.

You still aren't making sense. If you look at my post just above yours, you'll see that it wound up costing me just a little over $2.13 a month to insure my $2500 wheels. In what world does that not make sense to do?

[pinski]

Originally Posted by Stang70Fastback

You still aren't making sense. If you look at my post just above yours, you'll see that it wound up costing me just a little over $2.13 a month to insure my $2500 wheels. In what world does that not make sense to do?

I think you made the right call - the decision is basically whether or not you want to cover something out of pocket if you lose it, aka basic risk mitigation. Since you have very nice and expensive wheels on your car, I would've made the same call, given how little it was to add them to your premium.

For me, I've got a set of used Forgestars. I doubt anybody would try to steal them, especially since I live in an area where that sort of thing is pretty rare, so for me personally it doesn't make sense (not as high a risk and much lower replacement cost).

As another Geico subscriber, did you end up broaching the coilover subject with them? Interested minds want to know, lol.

[Ashikabi]

Originally Posted by pinski

I think you made the right call - the decision is basically whether or not you want to cover something out of pocket if you lose it, aka basic risk mitigation. Since you have very nice and expensive wheels on your car, I would've made the same call, given how little it was to add them to your premium.

For me, I've got a set of used Forgestars. I doubt anybody would try to steal them, especially since I live in an area where that sort of thing is pretty rare, so for me personally it doesn't make sense (not as high a risk and much lower replacement cost).

As another Geico subscriber, did you end up broaching the coilover subject with them? Interested minds want to know, lol.

I'm also interested in the coils

[jawn]

Do you guys even know what it costs to replace the OEM shocks and struts? It's like $1500 dollars including the top hats.

[Stang70Fastback]

Originally Posted by pinski

As another Geico subscriber, did you end up broaching the coilover subject with them? Interested minds want to know, lol.

Haha, no. I was afraid it would raise a red flag, lol. I figure nobody is going to steal them. If someone else hits me, they'll be replaced (according to a post earlier in this thread.) If I cause an accident of any sort, I'll eat the difference. Besides, if I ever have to replace more than one or two after an at fault accident, I've probably got bigger problems to worry about, lol.