Insurance and performance parts

[3Maine]

Just wondering, I haven't looked it up and maybe it's different depending on the state.

My question is, If someone had let's say 10k under the hood or in suspension/performance parts, whatever, and got totaled by another driver, does the insurance company only pay out the blue book of the car or do the after market expenses factor in? Or are you out a turbo charger etc..

[GrabberBlue5.0]

From what I have heard, usually the insurance will only pay for the value of the car in stock form.

I think that if you tell then about your nods and give proof they will cover it if you tell them before an accident. But it will most likely raise your premiums

[3Maine]

Originally Posted by GrabberBlue5.0

From what I have heard, usually the insurance will only pay for the value of the car in stock form.

I think that if you tell then about your nods and give proof they will cover it if you tell them before an accident. But it will most likely raise your premiums

I see, so have it assessed at its value before an accident.
I don't have any mobs yet and i probably won't go overboard but some guys would probably lose a small fortune.

[svtlx]

my company will insure it if you provide receipts of the installed upgrades and or pics..... but in my opinion, your just better off buyn your car back from the insurance company if its totaled, and try to salvage as many parts as u can to build a new one

[Rm360]

Originally Posted by 3Maine

I see, so have it assessed at its value before an accident.
I don't have any mobs yet and i probably won't go overboard but some guys would probably lose a small fortune.

+1 I have Allstate and they did this for me I just had to take pictures of what was done and send them a receipt, the only problem was for me they don't cover any suspension mods they only covered engine mods and I believe it had to equal a total of at least $3,000. My premium only went up $3.00 per year, good deal I must say !

[3Maine]

Originally Posted by Rm360

+1 I have Allstate and they did this for me I just had to take pictures of what was done and send them a receipt, the only problem was for me they don't cover any suspension mods they only covered engine mods and I believe it had to equal a total of at least $3,000. My premium only went up $3.00 per year, good deal I must say !

thanks for sharing, that's not a bad deal at all.

[JetWolf]

When I totalled my 04 I sent them receipts of what I had bought and they were just cosmetic mods yet they paid me back full price. Bought the car for 8.7k got 10.6k back, thanks liberty mutual!

[3Maine]

Originally Posted by svtlx

my company will insure it if you provide receipts of the installed upgrades and or pics..... but in my opinion, your just better off buyn your car back from the insurance company if its totaled, and try to salvage as many parts as u can to build a new one

I didn't realize that was an option, I wonder how much they would sell back a totaled car for. In this case you could come out ahead it seams.

[svtlx]

i asked my insurance company why they charged so much for 4 and 6cyl. mustangs .... she said, "well, we found that lotsa ppl put v8's in them"

really?... ive never heard of that, i replied back... with my 92 4cyl coupe converted to v8 efi with a supercharger....lmao

the nerve of sum ppl.... i swear. lmao!!!

---------- Post added at 11:34 AM ---------- Previous post was at 11:30 AM ----------

Originally Posted by 3Maine

I didn't realize that was an option, I wonder how much they would sell back a totaled car for. In this case you could come out ahead it seams.

that works out good if you are builder.... if you pay other ppl or shops to build your car.. you are still pretty screwed (dollar for dollar wise anyway).

anyways, yes... most, but not all insurance companies give u an option of buying it back if its totaled. but u get a shiny new salvage title in exchange for your clean title..lol. so ur only making out uup to a certain point..lol

[SpectorV]

I sent my insurance company pics and info on my mods to keep on their record... I am sure if I needed it though they probably "cant find it"....

[2002VertGT]

I know one insurance company I was with at one point said they charged like $50 extra per 6 mo premium for every $1000 of parts installed that you wanted covered..

[Vegas97gt]

I work at a body shop and when people's cars total and and they have aftermarket wheels, radios, etc and they can't return it to stock they are not aloud to take those parts so moral of the story keep your stock parts!!

[GrabberBlue5.0]

Originally Posted by Vegas97gt

I work at a body shop and when people's cars total and and they have aftermarket wheels, radios, etc and they can't return it to stock they are not aloud to take those parts so moral of the story keep your stock parts!!

Even if you buy it back from the insurance company you can't remove the parts?? Doesn't sound right to me

[Las0mbra]

Originally Posted by GrabberBlue5.0

Even if you buy it back from the insurance company you can't remove the parts?? Doesn't sound right to me

No, you can buy it back and take them off, but for something like rims only with a destroyed car it's not worth it. And once it's totaled and you get a check, it's the insurance companies car unless it's bought back.

[GrabberBlue5.0]

Originally Posted by Las0mbra

No, you can buy it back and take them off, but for something like rims only with a destroyed car it's not worth it. And once it's totaled and you get a check, it's the insurance companies car unless it's bought back.

I'm not doubting that but vegas97gt was saying you're not aloud to take the parts when it's totaled. Maybe he didn't catch the part about buying it back... Or maybe I'm not following what he said lol

[504gt]

Originally Posted by GrabberBlue5.0

I'm not doubting that but vegas97gt was saying you're not aloud to take the parts when it's totaled. Maybe he didn't catch the part about buying it back... Or maybe I'm not following what he said lol

When I totaled mine, I towed it back to my house and took all the aftermarket parts out and returned it to stock from before the adjusted came out to look at it

[GrabberBlue5.0]

Originally Posted by 504gt

When I totaled mine, I towed it back to my house and took all the aftermarket parts out and returned it to stock from before the adjusted came out to look at it

Yea I've heard of people doin that too. But once the adjuster sees it it is too late

[Vegas97gt]

In some cases it's too late but normally aftermarket parts wont effect the insurance companies value of the car and normally if your cool with your adjuster and or the body shop they won't care if you switch the parts back as long as its not hard wired in like speakers or something that would require a lot of man hours if it's at a shop but if it's at your house go for it!

[Arron's racecar]

My policy covers the permanent mods such as the body kit and headlights but as far as " go fast" mods the insurance company won't cover it.