FI and insurance..
04-11-2005, 04:18 PM
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FI and insurance..
I was just wondering what you FI guys do about your insurance. Do you tell them? If so, do they quadruple your rates? Would they even insure you?
I'd think that you probably wouldnt want to tell them, but then I also figure I'd want to know my investment was going to be insured in the event the Z got stolen or wrecked.
Any info is appreciated!
I'd think that you probably wouldnt want to tell them, but then I also figure I'd want to know my investment was going to be insured in the event the Z got stolen or wrecked.
Any info is appreciated!
04-11-2005, 04:27 PM
#2
fax them a list of your modifications, price - or just the recepts for the parts and labor work
and ask them to cover the car as well as the work you've had done
my insurance is roughly $1/month for every $1000 of mods you have in the car
it's worth it
otherwise you're gambling with like 15-30k worth of modding money you've spent if you ever cause an accident by driving 140mph on public roads racing that corvette
and ask them to cover the car as well as the work you've had done
my insurance is roughly $1/month for every $1000 of mods you have in the car
it's worth it
otherwise you're gambling with like 15-30k worth of modding money you've spent if you ever cause an accident by driving 140mph on public roads racing that corvette
04-11-2005, 04:44 PM
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Originally Posted by sentry65
fax them a list of your modifications, price - or just the recepts for the parts and labor work
and ask them to cover the car as well as the work you've had done
my insurance is roughly $1/month for every $1000 of mods you have in the car
it's worth it
otherwise you're gambling with like 15-30k worth of modding money you've spent if you ever cause an accident by driving 140mph on public roads racing that corvette
and ask them to cover the car as well as the work you've had done
my insurance is roughly $1/month for every $1000 of mods you have in the car
it's worth it
otherwise you're gambling with like 15-30k worth of modding money you've spent if you ever cause an accident by driving 140mph on public roads racing that corvette
04-11-2005, 08:11 PM
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1) Don't be the cause of an accident 
If it's their fault, then let their insurance company pay out the cash . . .
2) I know USAA covers "whatever is secured to the vehicle." For example, my brother's car was totalled by a hail storm and they covered over $1K worth of audio equipment
Regardless, always scan a copy of your receipts and take frequent photos of your vehicle to provide proof of its contents and condition . . .
If it's their fault, then let their insurance company pay out the cash . . . 2) I know USAA covers "whatever is secured to the vehicle." For example, my brother's car was totalled by a hail storm and they covered over $1K worth of audio equipment
Regardless, always scan a copy of your receipts and take frequent photos of your vehicle to provide proof of its contents and condition . . .
04-11-2005, 08:17 PM
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I usually have an appraisal done on the car after the mods are complete. Then I insure it for that amount. My insurance broker is good to me and they don't say too much to the insurance company...just that the car has been improved upon and the increased investment needs to be protected. Never any issues yet. Knock on wood
04-12-2005, 05:24 PM
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Insurance Agent in the House:
You would need what is called a stated value policy which does tend to run more expensive than traditional pol. I have a feeling the 1 dollar per 1k of mods guy is getting hifi endorsements and not stated value though I could be wrong. If you do not have your vehicle appraised and just keep your traditional policy they will not pay for most of your mods especially motor mods. Also all upgrades are pro rated so more miles on the car less the company will pay. Things like upgraded seats and misc interior are covered though under traditional pol. If you have more questions pm me
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You would need what is called a stated value policy which does tend to run more expensive than traditional pol. I have a feeling the 1 dollar per 1k of mods guy is getting hifi endorsements and not stated value though I could be wrong. If you do not have your vehicle appraised and just keep your traditional policy they will not pay for most of your mods especially motor mods. Also all upgrades are pro rated so more miles on the car less the company will pay. Things like upgraded seats and misc interior are covered though under traditional pol. If you have more questions pm me
Seacrest Out
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