Snabb T5M Posted July 13, 2011 Report Share Posted July 13, 2011 For those of you who have significant performance modifications to your car, do you have any sort of special insurance for it? With my car, I have full coverage, but I'm afraid that if something happens to the car the insurance company would only look to Kelly Blue Book or whatever source to value the car and not take into account the modifications that have been done and compensate appropriately? Anybody have anything special for insurance coverage? Link to comment Share on other sites More sharing options...
ErikS Posted July 13, 2011 Report Share Posted July 13, 2011 For those of you who have significant performance modifications to your car, do you have any sort of special insurance for it? With my car, I have full coverage, but I'm afraid that if something happens to the car the insurance company would only look to Kelly Blue Book or whatever source to value the car and not take into account the modifications that have been done and compensate appropriately? Anybody have anything special for insurance coverage? You could do an agreed upon value. I have liability only, since any significant damage would likely total it, and I would just buy it back and part it out. Link to comment Share on other sites More sharing options...
caanglin Posted July 13, 2011 Report Share Posted July 13, 2011 I've done a "stated policy" before. They just sent out an agent he looked the car over, talked a bit and we agreed on a value. Link to comment Share on other sites More sharing options...
Snabb T5M Posted July 13, 2011 Author Report Share Posted July 13, 2011 Thanks guys, will talk to my agent!! Link to comment Share on other sites More sharing options...
Fake-R Posted July 13, 2011 Report Share Posted July 13, 2011 Progressive allows you to add on the aftermarket parts value, and they figure it into your payment. Win. Link to comment Share on other sites More sharing options...
Oreo931 Posted July 13, 2011 Report Share Posted July 13, 2011 Allstate is willing to pay for a good amount of what I have on my car as long as I have receipts. Link to comment Share on other sites More sharing options...
Owned Posted July 13, 2011 Report Share Posted July 13, 2011 Check your policy terms. It should be clearly spelled out how much aftermarket they cover and how much additional value coverage would be. Link to comment Share on other sites More sharing options...
AverageVolvo Posted July 13, 2011 Report Share Posted July 13, 2011 USAA> if you qualify(Military service and relatives to an extent.) I have an actual cost value policy for 25k . They want pictures and as many receipts as possible. I can't recall whether it was State Farm or Progressive that covered mods beyond stereo and rims. But they were a good alternative if you don't qualify fo r Usaa. I pay apprx 130$ a month for a 300k$ property and bodily injury policy every option and a 250$ deductible I literally called every major company and only found the 2. You should also get estimates for other coverage. IE homeowners or renters etc.. sometimes the multi policy discounts save $$$ and simplify things financially. I know a decent amount about insurance if you have any Q's pm me. Definitively got some eyebrows raised asking to insure a 4000$ kbb car for 25K$ Additionally if you intend on tracking the car, you might wanna consider getting specialty insurance for tracks. It only covers you on the track, and you need to retain a regular policy. And you also are generally required to pay for a policy that covers the tracks property. You do this at most tracks. and they log your Vehicle info so you gotta cover your butt. Link to comment Share on other sites More sharing options...
Mesoam Posted July 13, 2011 Report Share Posted July 13, 2011 IIRC Hagerty is known for offering good agreed value ins. Link to comment Share on other sites More sharing options...
Oreo931 Posted July 13, 2011 Report Share Posted July 13, 2011 IIRC Hagerty is known for offering good agreed value ins. They have a lot of stipulations with that, though. For example, you can't drive the car more than 5k per year, you can't run errands with the car, you can't drive the car to work/school, the car has to be garaged when not in use, you have to have a daily driver that is at least x amount of years newer than the car you're insuring. In my case, with a '95 850 T5R, they wanted my DD to be at least 10 years newer, so my '97 850 n/a wasn't good enough. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.