groff Posted July 17, 2007 Share Posted July 17, 2007 Anybody out there added their aftermarket parts to their insurance? wheels, body kits from when they were ricers with their old hondas, or new stuff for their legacy's?? I'm looking into get most of my stuff insured, my mom thinks its a bad idea being 22 and having a high performance car anyway (that they may not want to insure me anymore). $4500 in parts or so is what i have on the list, i got receipts and pictures to send to the company, but haven't yet because I want to see what they say first (I know they need that stuff at the very least). just trying to cover my bases if i get in an accident, or have a fire, or flood or something like that, i want to be able to recoup some money that i have in a built motor/big turbo setup Link to comment Share on other sites More sharing options...
Carter Posted July 17, 2007 Share Posted July 17, 2007 Let me tell you a story about my old Audi S4 I had. I had a stock bumper and not "aftermarket" parts per se. I can modify my ins policy online and it said I could put "custom parts and equipment coverage" on my policy for any amount. The first $1000 was free so I said what the hell, I'll put that on. Well I ended up ripping the stock bumper off in some deep snow. I wanted an aftermarket bumper and everyone I talked to from the ins co said sure, we will pay up to $1000 including labor but the rest if any you would have to cover. Well after ordring the bumper I wanted and the ins co looking at my car they denied the coverage on me. The way they explained and handled the claim was poor. There is no moral to my story I guess. But next time when I have aftermarket parts, I will CALL the insurance company and discuss it with them. I am 21 on my parents policy, and when I upped the "custom parts coverage" to $2000 after that ordeal it cost me $48/year which is very damn reasonable. And they never asked what I had for parts or told me to keep records of the reciepts. My advice to you is call and ask about it, take pictures with the dates the parts were put on, where you got them with reciepts, and keep them in a safe place. Link to comment Share on other sites More sharing options...
qikslvr Posted July 17, 2007 Share Posted July 17, 2007 I think it just goes under a different policy that you pay $#### for $#### worth of comprehensive coverage. I did this on an old Porsche that I restored because I couldn't get full coverage for the amount I had in it. Let's kick this pig! Link to comment Share on other sites More sharing options...
groff Posted July 17, 2007 Author Share Posted July 17, 2007 I've talked w/ the lady about it before, I'm trying to get specifics from her on it though. that is a very reasonable price though. who was the coverage through if I may ask. thanks for the response too qikslvr, i'll keep my eye on what she sends back to me Link to comment Share on other sites More sharing options...
edkwon Posted July 17, 2007 Share Posted July 17, 2007 I dont bother to insure aftermarket parts, if it gets damaged, its damaged and i write it off. Link to comment Share on other sites More sharing options...
groff Posted July 17, 2007 Author Share Posted July 17, 2007 I dont bother to insure aftermarket parts, if it gets damaged, its damaged and i write it off. ?? i haven't been in an accident so i don't know, but i'm assuming if my front mount gets smashed in i'm not just going to be able to 'write it off' Link to comment Share on other sites More sharing options...
edkwon Posted July 17, 2007 Share Posted July 17, 2007 ?? i haven't been in an accident so i don't know, but i'm assuming if my front mount gets smashed in i'm not just going to be able to 'write it off' I mean if i install aftermarket parts like that and it gets damaged, its my fault, i dont expect the insurance company to pay for it. esp a significant modification like FMIC. If you can get the insurance co to cover it for you, more power to you, i'm just prepared to pay if i mess with my own car that way. Link to comment Share on other sites More sharing options...
qikslvr Posted July 17, 2007 Share Posted July 17, 2007 So if you put $4K worth of stereo in your car, $3K in the body kits and paint, $4K in engine parts and ECU maganement and it gets stolen, bashed up in an accident or a tree falls on your car or whatever your just going to eat it? That's just plain stupid. We're not talking about insuring against self inflicted stupidity; we are discussing additional components that were not factory installed and wouldn't be covered by your regular liability/comp/collision insurance; therefore, it requires an addition to the policy because NO insurance Co. will cover these items unless they are inventoried, photographed and the receipts are documented. Then a seperate/additional policy will be issued to cover them for a specific dollar amount in case of loss or damage. Let's kick this pig! Link to comment Share on other sites More sharing options...
groff Posted July 17, 2007 Author Share Posted July 17, 2007 So if you put $4K worth of stereo in your car, $3K in the body kits and paint, $4K in engine parts and ECU maganement and it gets stolen, bashed up in an accident or a tree falls on your car or whatever your just going to eat it? That's just plain stupid. We're not talking about insuring against self inflicted stupidity; we are discussing additional components that were not factory installed and wouldn't be covered by your regular liability/comp/collision insurance; therefore, it requires an addition to the policy because NO insurance Co. will cover these items unless they are inventoried, photographed and the receipts are documented. Then a seperate/additional policy will be issued to cover them for a specific dollar amount in case of loss or damage. ah ha! thats pretty much my thoughts, but i couldn't put all the words there, thanks! Link to comment Share on other sites More sharing options...
PhilT Posted July 17, 2007 Share Posted July 17, 2007 It's not just about the cost of the parts, once you tell the Insurance that you have a FMIC and a upgraded turbo, your premiums will go through the roof as you have just become a "street racer", in their eyes. Double Award Winning Legacy GT Wagon Link to comment Share on other sites More sharing options...
groff Posted July 17, 2007 Author Share Posted July 17, 2007 It's not just about the cost of the parts, once you tell the Insurance that you have a FMIC and a upgraded turbo, your premiums will go through the roof as you have just become a "street racer", in their eyes. thats what my mom is worried about me having to pay, i haven't told them any of the parts though or anything so for all they know it could just be stereo equipment or something...still waiting for a response from my agent Link to comment Share on other sites More sharing options...
qikslvr Posted July 17, 2007 Share Posted July 17, 2007 Easy. Just tell them that it is going to be a "show car" not a racer. They can't just jack up your rate because you put some aftermarket parts on your car. Your rate is based upon your demographic and driving record. I've done this with many cars over the last 20 years and all you are doing is asking for additional comprehensive coverage so you don't loose your azz on all your extras if it gets wrecked or stolen. Again, this is the same as restoring an old car with a $500 cash value and putting a $25,000 comp policy on it once it's complete. Let's kick this pig! Link to comment Share on other sites More sharing options...
groff Posted July 17, 2007 Author Share Posted July 17, 2007 "The tickets stay on for 39 months, then we can shop your account again. If you added on $4,600 of Custom Parts is would cost you $459.00 more a yr. (which is the quote attached) If you took Defensive Driving class and had this endorsement on you would save $250.00 a year. If you didn't have this endorsement on and took the DDC Class you would save $175.00 a year." Link to comment Share on other sites More sharing options...
groff Posted July 17, 2007 Author Share Posted July 17, 2007 LAME...wish i could shop around for a policy, but i already know i don't qualify for allstate for one thing, i wouldn't get gieco, not sure about progressive, don't qualify for metlife, and i dont remember about state farm. this policy is through Mang Insurance corp (forget if they are under someone bigger or not) Link to comment Share on other sites More sharing options...
edkwon Posted July 17, 2007 Share Posted July 17, 2007 if one is willing to put up with the increased premiums to cover the addn of the aftermarket parts, thats one's choice. its an individual choice wether one thinks its worth it, to me, that extra stuff is just stuff... if it gets damaged or stolen in an incident, i dont really care, sorry, but if im going to put extra money into some kind of coverage, its going to be my medical and dental insurance, not my auto. my health is a lot more important than some fancy stereo or go fast parts. Link to comment Share on other sites More sharing options...
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