Insuring modified vehicles

[jfreak921]

An article worth a read. Its not well-written, but worth the read.

http://moneycentral.msn.com/content/Insurance/Insureyourcar/P121806.asp?GT1=6752

[Gun5]

good read.... so if my system or rims get stolen no $$$ for me? Rims where $961 and stereo system was $600-$700 Total mind you we use USAA insurance w/ full coverage

[sed]

unless you declare the aftermarket/performance/upgraded items, your insurance will not cover it for a multitude of reasons.

One of the main reasons, though, is if you didn't claim it with them and actually insure what was there, then how do they know you in fact really did have 1000 dollar rims and 700 dollar stereo system?

hell i could tell them i had the mona lisa in the back of my trunk!

shawn :)

[Gun5]

unless you declare the aftermarket/performance/upgraded items, your insurance will not cover it for a multitude of reasons.

One of the main reasons, though, is if you didn't claim it with them and actually insure what was there, then how do they know you in fact really did have 1000 dollar rims and 700 dollar stereo system?

hell i could tell them i had the mona lisa in the back of my trunk!

shawn :)

proof of purchase bro aka receipts

[02xdGLS]

that doesn't mean that the products were in the car and destoyed.
sed's is right. insurance companies must cover their asses like that or everyone will just magically have $700 sound system in their trunks.

[2loud2k2xd]

you guys want a really funny laugh. i pay 2400.00 a year for my insurance. everything is covered. i have 16,000.00 worth of coverage on it with a 250.00 comp and collision deductable. its freakin outragous what i pay. and its the cheapest. i have NO accidents (reported) NO tickets, NO claims to insurance company for repairs, and im over 25. but at least everything in and on the car is insured.

[BlackElantraGT]

proof of purchase bro aka receipts

I'll have to agree with Sed on this one.

Your receipts will do you no good if you do not claim your aftermarket parts when you get your insurance policy.

The insurance premium that you pay is based on what they feel the value of the car to be and the risk involved with insuring you and your property. If you just spent $2,000 on your rims and stereos, they'll want you to pay a higher premium than before.

Some insurance companies are even pretty anal about aftermarket parts. Didn't fordfasterrr get his insurance policy denied and have to go somewhere else?

[jeffv1970]

I work for a insurance company. Always save reciepts and take pictures.
Most of all keep the insurance company updated of the modifications.
Should you forget to notify then and something happens you would be lucky if you get half.
As the value of the car increases, the premium will increase. Only way to lower premium is to reduce the exposure. Put the vehicle on very limited use.

[Gun5]

I work for a insurance company. Always save reciepts and take pictures.
Most of all keep the insurance company updated of the modifications.
Should you forget to notify then and something happens you would be lucky if you get half.
As the value of the car increases, the premium will increase. Only way to lower premium is to reduce the exposure. Put the vehicle on very limited use.

ya I have pics/reciepts...... I'm going to notify though.. my rates $3,100 a year already and our total (for family) is $4,100 I think... thats a 06 corvette, 04 Elantra, 03 Mercedes S430, 03 F-150 supercrew and a 91' F-350 Van.... damn them jacking up young peoples rates!..... we have full coverage already how much u think it will go up?