Insurance for FI
06-29-2008, 08:35 AM
#62
Originally Posted by XKR
Same applies....if someone plows into you...the "OTHER" insurance company will ONLY pay you book value. You might have to beg your own INS company to pick up the slack. Remember...if you had some kind of "Special" agreement with your INS company....it only applies to your company.
As far as getting insurance to cover mods - UNDER 25+SINGLE GUY= FAIL. It really does matter on your relationship with your agent, driving record and how much other business your agent has with you - house, other cars, life insurance. Most agents even have the power to call a claims office and have an accident deemed "non-chargable" to an insured if they are concerned that a good customer with many policies will go elsewhere.
06-29-2008, 11:16 AM
#63
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Originally Posted by Cass007
I was an insurance adjusted for a while when I got out of college so I can address this specifically. If you have coverage for your mods under your policy, you may at any time choose to use your comp/collision coverage. You will have to pay your deductible though. If the accident is not your fault, your company will pursue the company that insures the driver of the vehicle at fault in the accident. This process is called subbrogation. This is especially useful in comparative negligence states (such as PA) where an accident is chopped into a % of fault on each party and dollars are split based on that %.
As far as getting insurance to cover mods - UNDER 25+SINGLE GUY= FAIL. It really does matter on your relationship with your agent, driving record and how much other business your agent has with you - house, other cars, life insurance. Most agents even have the power to call a claims office and have an accident deemed "non-chargable" to an insured if they are concerned that a good customer with many policies will go elsewhere.
As far as getting insurance to cover mods - UNDER 25+SINGLE GUY= FAIL. It really does matter on your relationship with your agent, driving record and how much other business your agent has with you - house, other cars, life insurance. Most agents even have the power to call a claims office and have an accident deemed "non-chargable" to an insured if they are concerned that a good customer with many policies will go elsewhere.
Basically.....My cars are insured not only if I cause the accident...but also insured just in case the car that hits me is not fully insured or has some "drive by night" ins company....My ins company will pick up the slack. I even went as far as to find out if something does happen...could I send it to the body shop next to Forged Performance....I was told yes...they will also pay Forged to do all FI parts replacement.
It pays to check in advance.
07-17-2008, 06:56 PM
#64
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Originally Posted by XKR
Stereo coverage has nothing to do with FI coverage!! 99.9% of insurance companies will not cover you if you took my car to them and you were honest about whats under the hood.
The only way you would get coverage is 1) if you were already with them 2) Have more than one car and 3) over the age of 25-30. Oh yeah...4) If you have a clean record.
This is exactly what my agent told me. If you get in an accident or your car get stolen....you will only get market value for your car. If they found out that the accident was caused by so sort of FI modification...they will still cover the car at market price..(UNLESS a written agreement was made in advance)....but you will be dropppppppped. Fact not fiction.
The only way you would get coverage is 1) if you were already with them 2) Have more than one car and 3) over the age of 25-30. Oh yeah...4) If you have a clean record.
This is exactly what my agent told me. If you get in an accident or your car get stolen....you will only get market value for your car. If they found out that the accident was caused by so sort of FI modification...they will still cover the car at market price..(UNLESS a written agreement was made in advance)....but you will be dropppppppped. Fact not fiction.
07-18-2008, 04:54 AM
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Originally Posted by Hexxum001
Wow, Progressive said that they will cover the mods (especially TT) on your Z for more than the value of the car???? Make sure you get that in writing man. I have also sold Progressive and yes, they do offer special equipment coverage but not at the levels that you stated and not for more than the car is worth. But like I said, if your agent said you are covered at those levels, make sure you get something in writing stating that.
07-27-2008, 06:51 PM
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i spoke to a progressive agent and was told that the max covered for total aftermarket parts was $5,000. Ive seen a couple of people here say they have gotten waaay more than $5,000 worth of coverage for their cars. Please let me know the details of your policy.
07-28-2008, 10:43 PM
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man my insurance is gonna be a *****. probably not even insurable. Right now, I'm 21, 8 moving violations and counting, and I'm already at $617 a month. I'm starting the FI process in the next 6 months or so (hopefully) and we'll see what it jumps to...
07-28-2008, 10:59 PM
#69
Originally Posted by stevenkseward
man my insurance is gonna be a *****. probably not even insurable. Right now, I'm 21, 8 moving violations and counting, and I'm already at $617 a month. I'm starting the FI process in the next 6 months or so (hopefully) and we'll see what it jumps to...
Here would be my concerns, if I were you (which I'm not, so take it with a grain of salt):
1. Wreck your car/possible injury
2. Arrested
3. License revoked
4. Car impounded
5. Deemed "uninsurable"
Just my .02 based on what you said. I hope that you slow down and start being more cautious. At least start watching for cops.
07-29-2008, 10:41 AM
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Originally Posted by stevenkseward
man my insurance is gonna be a *****. probably not even insurable. Right now, I'm 21, 8 moving violations and counting, and I'm already at $617 a month. I'm starting the FI process in the next 6 months or so (hopefully) and we'll see what it jumps to...
The minute you tell them that you added turbo's to your car with your driving record....just keep checking your mail box for that letter with the pink slip in it "CANCELED"
07-29-2008, 06:58 PM
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I talked to my insurance agent today and he let me know that when my tickets drop off (the 3 year rule) I'll only have the last one from last summer and I'll be alright. He quoted what it will be for some "High Performance Auto" insurance. With a clean record its gonna be $529 a month...anyone else have a good insurance company? I might need to switch...haha.
07-29-2008, 07:17 PM
#72
Originally Posted by stevenkseward
I talked to my insurance agent today and he let me know that when my tickets drop off (the 3 year rule) I'll only have the last one from last summer and I'll be alright. He quoted what it will be for some "High Performance Auto" insurance. With a clean record its gonna be $529 a month...anyone else have a good insurance company? I might need to switch...haha.
i wonder how long that will last now that you got your z back
07-29-2008, 11:16 PM
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Originally Posted by mrg1981
I use Allied (who owns Nationwide) for regular liability and Haggerty for the rest. Allied came out very good on pricing, but I'm a bit older (27) and have a clean record.
07-30-2008, 05:06 AM
#78
One of the better insurance threads and a lot of good info.
I am a Nationwide agent for nine years here in Florida and have a TT 350z
1. who ever said Haggerty, Haggerty is a company that covers classic and show cars that are driven under a certain milage per year. you must have another car, the said car must be garage kept and they keep track of your miles. They are not in the aftermarket highly modded car buisness, your 57 chevy is more thier deal than your tt 350
2. aftermarket parts that change the performance of your car are different than audio/wheels/bodykits. It changes the rate symbols of the car, just like a V6 mustang and a V8 mustang are not the same to cover, neither will a 300hp 350 and a 500hp 350
3. If you are really wanting to get your s/c tt car insured properly get an agreed value policy ( progressive does have one, thats what I have ) Its not cheap, but in the event of a total loss, there is no argument over whats covered or not.
4. Like one of the very smart posters said, insurance companies in the event you wreck your car dont have anything to do but put your car back to stock, unless you tell them what you had done, and will do anything to get out of a claim. they think they are on the hook for a 28k 350z, not a 45k one, and if you arent paying the extra premium, they arent paying the extra 17k.
I am a Nationwide agent for nine years here in Florida and have a TT 350z
1. who ever said Haggerty, Haggerty is a company that covers classic and show cars that are driven under a certain milage per year. you must have another car, the said car must be garage kept and they keep track of your miles. They are not in the aftermarket highly modded car buisness, your 57 chevy is more thier deal than your tt 350
2. aftermarket parts that change the performance of your car are different than audio/wheels/bodykits. It changes the rate symbols of the car, just like a V6 mustang and a V8 mustang are not the same to cover, neither will a 300hp 350 and a 500hp 350
3. If you are really wanting to get your s/c tt car insured properly get an agreed value policy ( progressive does have one, thats what I have ) Its not cheap, but in the event of a total loss, there is no argument over whats covered or not.
4. Like one of the very smart posters said, insurance companies in the event you wreck your car dont have anything to do but put your car back to stock, unless you tell them what you had done, and will do anything to get out of a claim. they think they are on the hook for a 28k 350z, not a 45k one, and if you arent paying the extra premium, they arent paying the extra 17k.
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