If my car is stolen, will I get screwed?
06-09-2004, 12:31 PM
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If my car is stolen, will I get screwed?
This question might be overlooked by many of us. With all of the mods we do to our cars: turbo kits, rims, suspension, motor swaps, stereo, whatever, will any of that be covered if our cars get stolen. Does anyone have any real world experience with this, if so what are the proper steps we'd need to take to protect ourselves, outside of an alarm.
06-09-2004, 12:36 PM
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Re: If my car is stolen, will I get screwed? (silverb18)
get your car appraised and submit that value to your insurance company. You might get dropped for owning a modded car, but if it gets stolen, you get the appraised value, not wholesale value.
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06-09-2004, 12:37 PM
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If your car gets stolen AFTER you place thousands in modifications, you deserved it. Hell, stock Civics such as mine already has a fuel pump cut off switch. You need to take LOTS of actions to get your car not stolen. Fuel pump cut offs, ignition cut offs, AutoLock, etc...
As far as insurance goes, most of the time they'll just look at it as the KBB of the vehicle alone UNLESS you tell your insruance company all the modifications you have and pay a SUPER HIGH price per month.
As far as insurance goes, most of the time they'll just look at it as the KBB of the vehicle alone UNLESS you tell your insruance company all the modifications you have and pay a SUPER HIGH price per month.
06-09-2004, 12:48 PM
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Re: If my car is stolen, will I get screwed? (silverb18)
i don't know much about it but my neighbor had a car he restored, the value on it wasn't very much but he had a lot of time and money invested into it, about three times its value it was crazy. i asked him about his insurance, he said he had an insurance adjuster from whoever he was insured by come and look at the car and make a list of stuff on it and decided a value to insure the car at. i think the car was only worth about 5 thousand but it was covered for 11 thousand. like i said i don't know what its called but if you drive your car at all that much and have a lot of money dumped into it it's probably worth it.
06-09-2004, 12:53 PM
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Re: If my car is stolen, will I get screwed? (Kruzen510)
it just seems like, yea, I could put a turbo kit on my car, but if it gets stolen, i'm screwed....anyone else have any experience getting money for aftermarket items on their car after it was stolen?
[QUOTE=Dimi]If your car gets stolen AFTER you place thousands in modifications, you deserved it.QUOTE]
ok, that's a dick thing to say, and it really does not have anything to do with the topic. Any car can be stolen, i'm talking about covering our asses in case it happens.
[QUOTE=Dimi]If your car gets stolen AFTER you place thousands in modifications, you deserved it.QUOTE]
ok, that's a dick thing to say, and it really does not have anything to do with the topic. Any car can be stolen, i'm talking about covering our asses in case it happens.
06-09-2004, 01:00 PM
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Re: If my car is stolen, will I get screwed? (silverb18)
I got my car stolen with regular full coverage insurance. It returned missing a bunch of aftermarket stuff, and my insurance covered everything. V-afc, gauges, stereo, amp subs. Just have to have a receipt.
06-09-2004, 01:00 PM
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Re: If my car is stolen, will I get screwed? (silverb18)
also remember once it does get appraized , the parts will not be insured for that price (meaning if it gets stolen you dont get that amount back) insurance companies also use the amount of time you had that part on your car when you insured it with them.. for example
you have a full turbo kit. and insure the car on todays date. two years later your car was stolen and all the parts were stolen and the car is considered totalled... you will get a depreciated value of the turbo kit from time of insured to the time of it being totalled....what the caluculation is i dont know what system they use but that is how they total up your aftermarket parts.... no reciepts you will not be covered so keep all your parts reciepts for when that day comes....
you have a full turbo kit. and insure the car on todays date. two years later your car was stolen and all the parts were stolen and the car is considered totalled... you will get a depreciated value of the turbo kit from time of insured to the time of it being totalled....what the caluculation is i dont know what system they use but that is how they total up your aftermarket parts.... no reciepts you will not be covered so keep all your parts reciepts for when that day comes....
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06-09-2004, 01:03 PM
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Re: If my car is stolen, will I get screwed? (silverb18)
It just depends on your insurance
If your policy does not state that they will cover it, they won't.
So the only way it would be covered is if you had someone at the insurance company look at it and most likely, if you ask they would cover some things.
But like I said it all depends on the insurance company, you should really be asking them this.
If your policy does not state that they will cover it, they won't.
So the only way it would be covered is if you had someone at the insurance company look at it and most likely, if you ask they would cover some things.
But like I said it all depends on the insurance company, you should really be asking them this.
06-09-2004, 01:04 PM
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receipt and pictures always help........thats what my company said.......and dont try to get those fake receipts from your friend because they go all the way back to the manufactuer of the product and if aem says that this shop did but this product on this day or around this day, u may get screwed and so will the shop for insurance fraud.....
06-09-2004, 02:14 PM
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Re: (dgonzals)
<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by dgonzals »</TD></TR><TR><TD CLASS="quote">receipt and pictures always help........thats what my company said.......and dont try to get those fake receipts from your friend because they go all the way back to the manufactuer of the product and if aem says that this shop did but this product on this day or around this day, u may get screwed and so will the shop for insurance fraud.....</TD></TR></TABLE>
This is not always true as companies hold products on the showroom floor for a good amount of time. Which if the business bought it on April 12 and then sold it on Aug 12, the insurance company will not be able to prove anything.
Back in the day when I was riding pedal bikes three of my bikes got stolen, didn't have receipts went to Thrills On Wheels (if any of you Las Vegan's remember that place), the owner wrote me up three receipts, one for each bike, which the bikes totalled almost 4K, and I got 3900 from Insurance company. I did purchase everything on the bikes, but not for full retail price and not all at the same time.
Insurance company never caught anything.
Maybe I was just lucky.
to the good ole days.
This is not always true as companies hold products on the showroom floor for a good amount of time. Which if the business bought it on April 12 and then sold it on Aug 12, the insurance company will not be able to prove anything.
Back in the day when I was riding pedal bikes three of my bikes got stolen, didn't have receipts went to Thrills On Wheels (if any of you Las Vegan's remember that place), the owner wrote me up three receipts, one for each bike, which the bikes totalled almost 4K, and I got 3900 from Insurance company. I did purchase everything on the bikes, but not for full retail price and not all at the same time.
Insurance company never caught anything.
Maybe I was just lucky.
to the good ole days.
06-10-2004, 12:27 AM
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Re: (Dimi)
<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by Dimi »</TD></TR><TR><TD CLASS="quote">If your car gets stolen AFTER you place thousands in modifications, you deserved it. Hell, stock Civics such as mine already has a fuel pump cut off switch. You need to take LOTS of actions to get your car not stolen. Fuel pump cut offs, ignition cut offs, AutoLock, etc...
As far as insurance goes, most of the time they'll just look at it as the KBB of the vehicle alone UNLESS you tell your insruance company all the modifications you have and pay a SUPER HIGH price per month.</TD></TR></TABLE>
actually just give them your receipts, and they give you a percent of what it all adds up to. easy as that.
As far as insurance goes, most of the time they'll just look at it as the KBB of the vehicle alone UNLESS you tell your insruance company all the modifications you have and pay a SUPER HIGH price per month.</TD></TR></TABLE>
actually just give them your receipts, and they give you a percent of what it all adds up to. easy as that.
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