I've never modded any of my previous cars that I've owned, so this is all new to me. Is it customary to tell your insurance company what sort of mods you have? In the event of theft or collision, you'd want to get compensated adequately for that aftermarkent item that was stolen / damaged.

 

i believe it would increase ur insurance rate but i could be wrong and would also like to know about this...

 

it all depends on our insurance company, i use AAA and i dont have to submit anything on my mods, just save my receipts and(god forbid) anything happens to my car i just show them the receipts and they'll count it towards the value of the vehicle

the same thing goes for repairs too

 

this is a good call, you definitely want coverage for a/m parts. most people overlook this
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Contact your insurance company for details as the requirements vary. Normally, you only have to prove it in case of a loss, not beforehand.

 

It raises your insurance. But Id also assume youd be better covered come accident or theft time.

 

Agree. If you added $4,000 wheels for example I suppose you could add “replacement value” to your policy. But it will cost you of course.

 

I know that Progressive has a field in their online system for added value parts. I noticed it this morning as I was updating my policy.

 

exactly........

I specifically choose my insurance company because they had what they called "Premium Audio Coverage" - We have two vehicles that have upgraded stereos to Pioneer AVIC-D3 Navigation system screens with the bluetooth and XM Traffic modules, ipod, etc......

So to protect our investment from theft we purchased that audio coverage. I submitted to them before hand my receipts of all the wires, adapters, modules for both of those units in both of our daily cars.

If one of those two cars is broken into and D3 stolen we have 1500 coverage - minus our small deductible for replacing the items.

-J

 

It raises your insurance mainly because it lets them know you have a lot of extra money, and they want some of it.

 

I think every insurance company has diff. policies regarding aftermarket stuff. State Farm asks for reciepts and then gives 'fair market value' for the item. Ex: head unit was stolen out of my old beater: paid $500 brand new...it was four years old so they gave me $250 bucks towards a replacement. One of the tires on my Z was slashed and again I provided receipts. I had to have an adjuster come out they looked at the tread wear. Since the tire still looked brand new they gave me full retail price for a new one.

 

I am very close to my insurance agent. He said i could just keep the receipts but that it would be much more beneficial to have it added to the insurance. In doing so he said Farmers would have to consider the car a performance vehicle, something along those lines. Of coarse my premium would go up. I am not even affraid of my car being in an accident but being stolen. I have had 2 attempted robberies on my brothers hummer. My acura integra was stolen ( i had 3 party liability so i didnt get a penny of the $26k i put into it) and there has been some sketchy sh*t going on in my neighborhood lately. My city use to be the 6th safest city in the United States. Im definitely dropping off some documents soon!

 

Never mind. I thought this was important to you. Important enough to say “thanks” or simply reply.

 

Not too long ago I made sure all of my modifications were covered by insurance. Allstate insures aftermarket mods by stating a cash value of the car that you want to insure it for. They know an 03 Z is worth xx,xxx dollars but you tell them your wheels and whatever else are worth xxxx amount more. Rates went up $3, all I need to do is show receipts in the event of an incident.

 

It would all depend on the number of mods as well as the amount of money spent on those mods.
Simple mods like a CAI or CBE, just show receipt upon making a claim
In the case of an excessive amount of mods or dollars spent, then I would pay 100 bucks and get the car appraised and have it insure for full replacement cost.
In my case, I had the car appraised at 50K. The insurance company has that appraisal plus pics on file and will pay out the full amount – deductible.