slay2k

Important theoretical question..

If I'm going to dump $5-10k into the Z in mods... I'd like to be damn sure that should it get totaled or stolen, I will recover those losses.

Since my current insurance is through a business policy, my agent is trying to convince me it can't be done... but I have heard otherwise.

Anyone think about this ? Do you guys know what will happen with your insurance if your car's gone ? Are those rims or exhausts going to be paid for ? Please, my fellow owners, shed some light on the matter. All comments are welcomed.

ares

iTrader: (2)

got mine covered, theyll only go so far, and remember, if you keep on insuring it, its gonna be hell to get it totalled. and the car is not worth the worth of car +mods its worth way less, tho youd like to insure it for that, they eventually wont allow the huge discrepancy between the value of the car and insured value. be like taking a crappy 4000$ car, putting 40grand into it, then bring this heap in and trying to insure a 4000$ car for 40grand. theyd laugh.

Ricky

My old insurance said no, which was Statefarm, but then again it wasn't under business account. Not sure about my new insurance.

I'd be interested also, as I am putting about $4000 or so into the Z by Augest.. I'd like a feeling of security just incase something did happen.

Also, if they would insure a sc, won't you're premium raise, as a sc would add around 50% power, which makes you more prone to accidents and reckless driving?

Quadry

I am an insurance agent in Arkansas and I have a lot of mods on mine, but I'm only allowed a certain price on mods. This is capped by the insurance company my car is with. All insurance companies that are willing to write any modifications have a cap on the total amount and most will not write turbos or superchargers. Now I can only speak for the state of Arkansas, but most companies allow you to add mods. As far as the business policy goes, I can see your agents point. It depends on what kind of business you are in. If you are in a business that deals with cars in any way, then you insurance company might have an easier time accepting it. If you install drywall, then there would be no need for a car like that on the policy. If you have any questions about insurance, just let me know. But remember, I can only speak on how the law is in the state of Arkansas.

slay2k

Thanks for the replies, as usual.

Quadry... how about this scenario...

Let's say I install a supercharger and someone rams into my car doing 60mph and totals it.

In that scenario, wouldn't they be responsible for ALL damages including all aftermarket crap since its "personal property" now that was inside the vehicle ? I believe my agent hinted at this...

So the only things to worry about would be 1) theft and 2) collision that is my fault.

That sound right ?

-slay

Quadry

Yes. They would be responsible for your damages, including mods. Just keep the receipts. Just keep in mind that the adjuster for the other insurance company will do the estimate. You could get lowballed on the value. This could be placed on depreciation.

Just check and see if they give any allowance for mods. If you have a flat bed pickup with a $5,000 wench on the back, that has to be covered under something if it was added after purchase. It would fall under the mod allowance. Most personal lines companies give at least $5,000 for mods, with additional premium due of course. Progressive for example gives the $5,000 for additional equipment, I have used this for rims for an insured before.