Insurance for Modified Vehicles in Ontario?

[new2subaru]

Originally Posted by Jordanwolf

Time to move to Porsche?

Nope, I found a use for the back seats and got a puppy

[VOSS]

Originally Posted by sIowbrz

No mods reported cause when I went with it was brand new car and the insurance stated under 5000 dollar modifications not need for report. I assume modifications ae in aftermarket rims body kit stereo suspension? Idk about engine mods that increase power lol

I need to take a closer look at my documents. Is there a specific document you have that shows that? I took a look under mine and didn't see anything

Originally Posted by Canehda

Spoke with underwriting today and found out that our direct sales insurance arm does not have a filed mod rule but our main broker channel arm does have the rule. Made the switch today and saved $80 a month off my employee discount lol...

Also if there is any car that will be a pain in the ass to insure it will be ours let alone with mods, I’ve dealt with multiple FRS/BRZ fatalities this year already and none of them were pretty
Wouldn’t be surprised if insurance sky rockets with our cars... spoke with another casualty adjuster with another big name insurance company and they joke that the FRS is the new civic of single vehicle stupid accidents

I mentioned this on reddit and got downvoted to oblivion. With all the cheap and riced out mods being added to this car, its slowly becoming the next 6th gen civic. With it getting cheaper, its only going to get worse. I still love the shit out of my car though.

[KurtZehrINS]

Originally Posted by KurtZehrINS

Hey,


As stated above I think the best option is dealing with a broker. I am not saying this just because I am one, but as a broker we have access to a number of different providers, which gives us a lot more options.


In terms of modifications though, things are still very difficult. Every company has their own definition of what is considered an excluded modification, and it is just a matter for finding one that will accept it.


In my personal opinion some aftermarket springs and upgraded exhaust is nothing off the wall, but not every company sees it this way.


Now, not to highjack you post, but this would save the forum another similar post. As mentioned I am a broker and I work for Zehr Insurance, and I am working on a project to create a specialty insurance product for modified vehicles.

I know that finding proper and affordable insurance for modified vehicles can be very difficult/impossible. I know many people lie to their brokers about the modification, or are forced to insure with Facility to get proper insurance. Both have big downsides. Lying can lead to denied claims and all sorts of other headaches that no one wants and to fully insure with Facility costs an arm and a leg along with your first born child. My goal here is to create the specialty program that will provide affordable rates and allow you to disclose all of your modifications.

My brokerage specializes in Classic Car insurance, where it is not difficult to insure modified vehicles. Take on old Impala and put a Cummins diesel in it and I would have no problem. Same Impala but with a full custom paint job, again no issue. Even roll cages are doable. But you do an engine swap or any of the above in your Subaru/Scion and insurance is impossible to find.


This is doesn't makes any sense to me. If you have put the time, money and care into you car then you are going to take of it just as well as any "classic" car owner.

I am hoping to compile a database that can help me approach my insurance providers to create this specialty program for enthusiasts like yourselves. If you are willing I have provided a link below to a 10 question survey, which will help give me an overview of the potential market, and give me ammo to get this program started. The survey should only take 1 minute.

I would be so appreciative if everyone could fill out the survey and pass it along to anyone who may be willing to help me out. Thank you very much for the time and consideration. If you have any questions or input in terms of desired coverage etc, I would appreciate all feed back.


https://www.surveymonkey.ca/r/QNVVMWY

A bit selfish, but just want to bump the post and update everyone. Things have been moving along with the project. Summer months are usually very busy in the office, and I have a new born baby at home, so I have not been able to dedicate a huge amount of time to this, but things are coming along.

I currently have a little over 60 responses to my survey. My goal is to have close to 200 by the end of the year.

The more responses I get the more likely it is that I will be successful in create a program to help the car mod enthusiasts out there.

If you are new to seeing this and have a minute to fill out the survey, I would very much appreciate it.

https://www.surveymonkey.ca/r/QNVVMWY

Thanks!

[Frost]

Originally Posted by KurtZehrINS

A bit selfish, but just want to bump the post and update everyone. Things have been moving along with the project. Summer months are usually very busy in the office, and I have a new born baby at home, so I have not been able to dedicate a huge amount of time to this, but things are coming along.

I currently have a little over 60 responses to my survey. My goal is to have close to 200 by the end of the year.

The more responses I get the more likely it is that I will be successful in create a program to help the car mod enthusiasts out there.

If you are new to seeing this and have a minute to fill out the survey, I would very much appreciate it.

https://www.surveymonkey.ca/r/QNVVMWY

Thanks!

Done!

[new2subaru]

Done