ok, I dont know if you guys remember, but I was the one who got my car stolen in san francisco about a month ago. I had the white 2001 gsr with the drag 3 turbo and oem body kit. Anyway, the insurance just called me and told me they will only give me 21,000 dollars. Im not happy, should I be after I put in over 10,000 into mods?

well they said I can dispute it by finding 2 cars similar to mine with similar mods, and they will average out the 2 prices and give me that dollar amount. The cars have to be listed for sale.

Is this impossible to find a car with the same year and similar mods for over 21,000?

If anyone knows cars that are listed for sale, that have a turbo, rims, and body kit, please let me know. Thanks for your time reading this.

 

maybe u should have showed thenyour recipts

 

unfortunatly mods dont add value to a car, so your best bet is to show them recepts.

 

i sent them most of my reciepts too

 

Did you tell them you had the mods before it was stolen? If not, then you might be out of luck. The mods are not insured . . . . If you had told them before, then you might have had a chance of recouping your loss.

 

sorry to tell you, but unless you told them before hand, i dont think those mods will be insured. and mods do not add value to the car, infact cars hardly appreciate, they're one of the worst things to "invest" as far as economic value. the rate of deppreciation (sp?) is tremendous!

makes me wonder about all those big headed supra owners who spend all kinds of money into that car and expecting to get $70,000+ for it


thats another subject i would like to touch but not get into... ive noticed a growing number of people who spend all this money on modding cars only to sell them?! these people imo are just posers to the whole scene. they're not in it for the enjoyment and personal satisfaction as other enthusiasts...they're just in it to join the bandwagon and follow the crowd

back to the question..sorry to hear about the car..and good luck finding a 2001 turbo gsr for sale

 

okay...not to sound like an expert...but ive been through this situation many, many times...as long as you have reciepts for your items, you should be cut a check aside from the car itself...if you dont own the car...they should cut a check for the lein holder, and another to you for your mods...ive done this 4 times, and each time ive been taken care of...and this has been with 2 different insurance companies...they hate me, oh well.

 

The insurance companies that I have dealt with will only give you 2000 max, on top of the cars value with receipts. That is unless you informed them of the mods beforehand. With 10k in mods on a 20k car, your insurance would definately have rose also.

 

what insurance do you have? i have state farm

 

He's right the insurance compnay is only going to insure the actual stock vehicle. If you didn't tell them about the mods, why should they insure that, plus if they even knew about them they would probably jack your insurance rates up.

 

I think different insurance companies work different because i know people who have been covered, not sure if completely but a majority of mods covered and other who just got screwed. Who do u have insurance with?

 

i got state farm

 

it really varies w/ your insurance company.. some companies you must notify them beforehand of ALL your mods you expect them to cover.. so that they can adjust (raise) your rates/premiums accordingly to reflect the added coverage... others as long as you can verify w/ receipts they will cover the majority as long as it is mounted/bolted on.... Farmers had a cap of 3K i believe for car audio coverage.. they would raise your rates to reflect that after getting your receipts and if your stuff was stolen and it was worth more than 3K (after factoring in depreciation).. they would still only give you your cap...

i think their premium rim coverage was like up to 2K.. i dont remember... but yeah it really varies w/ your insurance company.. some are coo w/ just receipts.. others require you to tell them before hand so they can reflect the added coverage/mods in your premium...

ill try and look around on the net n stuff to see if i can find a car matchin yours..
good luck..

 

Mmmmh...I like his idea. ?!? Make sure they jack up the price of their cars in the paper too. But then again, if they find out that you did that, is it considered insurance fraud? Just be very, very sneaky abou it and you should be alright. Probably not too many insurance adjusters that monitor phone calls or H-T IM.


[Modified by 98SILVERGSR, 5:24 PM 3/12/2002]


[Modified by 98SILVERGSR, 5:24 PM 3/12/2002]

 

THat has run across my mind, and I really want to do it as honest as I can. With my luck, it will come right back at me a screw me over. I think I realized now that I should just be happy I got what I got. THank you for your replies.

 

seeing that this is a PUBLIC forum.. and anyone can read the messages on this board.. its probably not a very wise idea.. and that could probably be considered insurance fraud of some sort.. just try to do everything honest...

 

This is why after you have spent all this money in mods, you go to the insurance company with receipts in hand the car appraised. You will be paying more to the insurance company each month, but you won't be fucked when your car gets jacked. How many posts do I have to read like this? Do people not understand this concept?

</end rant>

 

ahh just get the reciepts and tell your home owners insurance thet someone stole something from you. You had the stuff and they stole it from your house. No proof that you had it installed. You will get your money back that way. then get your money from the regular insurance company for your car.

That is if you or your family has that type of insurance.


[Modified by Fooser, 8:30 PM 3/12/2002]