Is your FI installation insured?

[B-R-Z]

Originally Posted by King Tut

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.

Oh sorry, those numbers are for 1 year of coverage. We are one of the few that write only one year policies.

I edited my original post. So yes 20 (for $20k) x $12 = $240/year.

[Supermassive]

My car is completely covered, with parts included. Of course you need to keep your receipts and you will deal with depreciation on the cost of parts as well. You pretty much need to ask your insurance provider how they deal with modifications. I have State farm and it's pretty much implied by their policy. Their rates don't really have any basis on the value of the car, it's completely based on the frequency of claims for a particular car. I'm selling my FR-S for a 2015 Corvette stingray and due to the fact that it's mostly geezers driving around in them my insurance actually is staying the same...even with the $50k price difference.

I know some insurance companies have a maximum insurable limit for modifications, while others require you to claim them against the car and readjust their rates to cover those. If i were looking for insurance and planned on modding a car I would look at State Farm, the only problem with Stae farm is they are really picky about who they insure, but if you have a clean driving record they'll pick you up in a heartbeat.

[86-tundra]

Originally Posted by 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.

it would take me a lot of years of golf to rack up $20k in course fees.

[ZionsWrath]

Originally Posted by trevorovert

it would take me a lot of years of golf to rack up $20k in course fees.

Yes, not all hobbies are cheap. A lot of people don't realize it because you can finance a lot of things when it comes to cars, cars are an expensive hobby. Hell to some they are an expensive necessity.

[RSConsulting]

Interesting that you cannot get insured for a (new) mod'd car - at least not for exorbitant rates.

I could't get State Farm to write an "accessories rider" on my '05 Corvette. When it got stolen (in '08), I stood firm and wouldn't accept the $19K they offered me - and I sent them 100+ pages of invoices on my mods. I ended up settling for $30K. WAY LESS than I had into it - but WAY MORE than their initial settlement offer.

FUNNIER STILL - I have $30K in additional coverage on my '10 Harley V-Rod. I pay an additional $394 a year for it. But with $30K IN MODS on the bike (not counting 100's of hours of PERSONAL LABOR), it's worth it. Hell, my BST Carbon Fiber Wheels go for almost $5K.

Then again - motorcycles - HD's in PARTICULAR, do get thousands dumped into them in mods. Likewise for cars - but insurance companies LOATHE to give you a rider for mods, that they don't want you to have on your car in the first place.

What company, based on statistical risk of accident/loss - wants US riding around with another 100HP?

Huh?

Rick

[NickFRS]

I have my wheels covered on my insurance.... If the car ended up being totaled id just yank the supercharger off..... It's not that many bolts....

[86-tundra]

Originally Posted by NickFRS

I have my wheels covered on my insurance.... If the car ended up being totaled id just yank the supercharger off..... It's not that many bolts....

hm but what about a front end collision? could easily destroy the SC

[NickFRS]

Originally Posted by trevorovert

hm but what about a front end collision? could easily destroy the SC

At that point I wouldn't care about a used supercharger that cost me 3,200. Also It would be hard to destroy a twin screw supercharger in a front end accident. If your going fast enough to do that it was ment to be.

[ecko04]

Yep, insured for everything all the time.

"We received your message regarding your auto policy.

Your auto policy automatically covers your custom parts and equipment under comprehensive and collision coverage. It is best to keep receipts for customization work on your vehicle in case you have to file a claim."

[dp1]

Getting insurance coverage for extra parts and labor should follow the answer to "can I afford loss" and somewhat to "how likely I think I may have loss", regardless if it is $5k, $10k or $25k in upgrades...no?

[hakkoo]

Originally Posted by trevorovert

it would take me a lot of years of golf to rack up $20k in course fees.

You should see how much some people spend on country club memberships.

[ftc~brz]

Originally Posted by whitefrs

i doubt any insurance company will insure our modifications...

not true. Mine does. yes you pay more, duhh you are insuring more. But it can be worth it considering. You can't expect to raise the value and the risk of the car and not pay for it in some way.

I did not have my mods insured at the time I totaled. The max they will cover is 1k in aftermarket unless otherwise notified. My insurance company did the best they could for me and in my situation I was able to buy back my car and strip my parts so I broke even.

I just bought a new one this week. When I called to add it to the policy they asked me if I plan on putting my parts back in and insuring them and I said yes I do and I will call you as soon as this happens but as of now it is stock.

In my case it is worth it to me for piece of mind that if something were to happen to this one I would be covered. That whole experience was messy and painful. I would rather have a big fat check and walk away from it all. I will gladly give them a chance to recoup this loss through my future premiums. They treated me that well.

[ilpad]

Originally Posted by sshole

No.

idk about that.... damage to your property by someone else's negligence should be covered under their insurance policy. Its their responsibility to make you whole again. If they bend your wheel then they have to replace it. If you have property in the vehicle that gets damaged they have to replace or pay to fix it.

example. I used to be a musician for a living and I got smashed by a young teenage girl who didn't stop at a red light and plowed me pretty badly. This resulted in damage to some sound equipment and my amp getting pretty messed up. Her insurance company paid for both replacement and repair costs for me. I did have to prove that it was in working order prior to the accident, which was easy because I had just left the gig that I was using it all at. I would imagine your custom exhaust, coilovers, or custom wheels would be covered just the same. Its their responsibility to get you back to where you were before the accident happened.

I however do not work in the insurance business, so if someone is of more knowledge on the topic feel free to correct me.

[B-R-Z]

He/the shop should have liability insurance which covers damages the shop is liable for.