Are you guys covered in the event that your car gets stolen for your aftermarket bling?

Did you send your insurance co. a list of parts with pics/receipts? What about parts that were bought used?

I called my insurance company about this a few weeks ago, as I'd just like to be covered for the things I've put into the car, but they gave me a huuuuge runaround and after about an hour on the phone I had no answer. I undestand I'd pay additional premiums, but I got the impression that they do not deal with this sort of thing at all.

Just curious on how this is handled... I'm looking around for different companies, Geico is cheap but their customer service blows big time.

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by .RJ &raquo;</TD></TR><TR><TD CLASS="quote">Are you guys covered in the event that your car gets stolen for your aftermarket bling?

Did you send your insurance co. a list of parts with pics/receipts? What about parts that were bought used?

I called my insurance company about this a few weeks ago, as I'd just like to be covered for the things I've put into the car, but they gave me a huuuuge runaround and after about an hour on the phone I had no answer. I undestand I'd pay additional premiums, but I got the impression that they do not deal with this sort of thing at all.

Just curious on how this is handled... I'm looking around for different companies, Geico is cheap but their customer service blows big time.</TD></TR></TABLE>

Everytime I've brought this topic up on this site, the answer I got was "every company/policy is different, call your agent."

I have heard that AAA has a certain amount of aftermarket part coverage built into their policies. Are they offered in your state?

My insurance company doesnt cover aftermarket parts. When my old civic hybrid was stolen, I gave them $7000 in receipts and photos, they told me that suspension, wheels, and motor is already covered on my policy and they gave me an extra $800 or something. I basically lost out on $4000.

Before I go back to school this fall, I plan on getting the stuff on my new car covered some how.

 

Ok, scratch AAA then.

I guess a better question would be what carriers do cover aftermarket parts?

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by .RJ &raquo;</TD></TR><TR><TD CLASS="quote">Ok, scratch AAA then.

I guess a better question would be what carriers do cover aftermarket parts?</TD></TR></TABLE>

I meant to say that AAA does cover aftermarket parts, and from what I have heard, they have a certain amount of coverage built in to every policy standard. They aren't offered here in NJ though, so I have no first hand experience with them.

I would look in to them if they are offered in your state. . .

 

They are offered, but 2x the rate I'm paying with Geico...

 

here is an example with 2 different companies:
All State (an make sure its in your policy) covers 1000 aftermarket out side the car and 1000 aftermarket (interior)
regarless if you have over 10k invested on the car , they will only cover that much and will only give you the cars blue book value. Unless you can prove that the car has brand new parts that came OEM on it.
Century 21st covers 1000 on aftermarket (both outside and inside) each company is different, but make sure you read your policy , since they should provide you with all the info.
But with Century 21st you have an option (i didn't see this or remember if it was available for All State) they allow you to increase the coverage of aftermarket parts,
example to cover 2000.00 from the original limit of 1000.00 it would be $10-15 additional a month .An to they will allow you to increase as much as you need it , of course that you will need to pay xtra for it.

 

i called nationwide and asked awhile back. i said i wanted to insure the car for more, they said that i have to have pics and reciepts, and the premium goes way up. for an extra 4000 dollars it went up like 20 a month.

 

Well, not to add to the mess, but my insurance covered my parts that were on my Del Sol when it was stolen, even though I never told them about it prevoiusly and only had receipts to show for it. Then when my R interior was stolen, the DIDNT cover anything I had added to the car, even though I had the receipts. BUT the did give me a very nice check for the value of the car. Liberty Mutual by the way.

I know that my room mate reported all of his parts to his insurance on his EK (wheels, audio/video stuff, motor, etc) to his insurance, and then totalled the car. But they gave him a hard time when it came to determining the value of the car. He is on US Military insurance which I think is run through the goverment.

I dont know if I helped you

 

What I'd prefer to do is just to take some pics and declare a value and pay extra for that...

Maybe I'll call the monkeys at Geico back and waste another hour sometime this week.

 

how much did you have in lost ?
its a different story when you are trying to get 8-10k worth of damage on aftermarket parts (since its consider that way ) through the insurance.
An dont mention the word Racing, cause they will try to give you 0 for it

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by .RJ &raquo;</TD></TR><TR><TD CLASS="quote">What I'd prefer to do is just to take some pics and declare a value and pay extra for that...

Maybe I'll call the monkeys at Geico back and waste another hour sometime this week.</TD></TR></TABLE>
i think that would be the best option that you have, but make sure that you have it on paper. I hate insurance that they will ignore your lost when it comes time to pay for it

 

seriously .RJ who wants a black integra RS???

 

some homeowners insurance will cover loss of your car and aftermarket parts.

receipts should be a must, photos help, even if company offers coverage for aftermarket parts, they might not cover based only on photos. - every ins. company have different requirments.

if insurance doesn't offer coverage for extra parts, regardless of receipts/proof, you will not be covered.

the following i though about but haven't looked into yet:

maybe see if theres a company that covers aftermarket parts only while you still keep car insurance and they wouldn't change rates considering your car is higher risk (they won't say that rates will go up, but they also don't say they will raise your insurance at no fault claims and they still do)

 

I actually had my insurance company come out and inspect the car and take photo's for themselves. They came up with a quite accurate appraisal for all the aftermarket parts. They then added that amount to my additional coverage.

 

geico sent me a from to fill out with part descriptions and prices.
I did not fill it out.

when I call them I get thru just fine and have no issue with getting questions answered. :shrugg:

 

What do guys with classic cars do?? They get appraisals. See my sig for more info. If you build your car with "quality" parts and have a lot invested I would recommend getting it appraised. Relatively cheap considering what $$ you may put into the car.

James

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by JJFreshy &raquo;</TD></TR><TR><TD CLASS="quote">What do guys with classic cars do?? They get appraisals. See my sig for more info. If you build your car with "quality" parts and have a lot invested I would recommend getting it appraised. Relatively cheap considering what $$ you may put into the car.</TD></TR></TABLE>

Is this appraisal actually recognized by any insurance company?

I could get a friend to "appraise" my car at $50K but if it were stolen Geico would tell me to shove that appraisal where the sun dont shine.

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by .RJ &raquo;</TD></TR><TR><TD CLASS="quote">

Is this appraisal actually recognized by any insurance company?

I could get a friend to "appraise" my car at $50K but if it were stolen Geico would tell me to shove that appraisal where the sun dont shine.</TD></TR></TABLE>

i think he means get it appraised(by a legit/licensed appraiser) and then insure it for that amount.. your premium will go up, but you will be covered.. just make sure your insurance company will do this sort of thing..

with state farm and ohio casualty group, i could/can just add additional coverage and give them a list of what i've got..

 

progresive insurance, has a "declared value" policy. they (a company progresive chooses) will come out and apraise the vehicle.but your premium will also increase as the coverage goes up.

i had mine insured for $30K at one point.

edit: i had AAA back in the days, when my truck was brocken into, they covered up to $1000 in aftermarket.

 

I noticed that the insurance companies in England have a very different outlook on insurance and it seems that a few of the larger companies here in the states could take some advice. It seemed in a few of the crappy Brit mags that they have specific insurance for modified cars and that these modified cars were easy to afford in terms of insurance through these specific companies. Obviously different benefits and maybe some coverage didn't apply, I don't know jack about Brit insurance.

What I don't understand is why they don't have smaller companies for insurance on aftermarket parts seeing as that its very popular, and we all need insurance.

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by JJFreshy &raquo;</TD></TR><TR><TD CLASS="quote">What do guys with classic cars do?? They get appraisals.</TD></TR></TABLE>

Classic car insurance is also a LOT cheaper than coventional car insurance, due to the fact that the owners don't drive the cars very often. Classic car insurance also generally has limits to the amount of miles you are allowed to put on the car in a given year.

As far as insuring your aftermarket parts, etc., my agent basically asked what parts I wanted to cover, what value I wanted to cover them at (what amount I want to get reimbursed in the event of a loss of said item, minus the deductible), then gave me an adjusted premium.

 

on a side note. be carefull on what you want to be covered.as it could cause you to be dropped, oryour premium raised alot. for example you might want to think twice, on letting them know you have a turbokit, extemsive eng. workunder the hood. or even a non DOT front end.

 

Keep in mind.. if you have a claim an appraisal will help you prove your claim that your car is worth more with the parts you put on it.

You can get an appraisal before hand and if you like see about getting a stated value policy or you can discuss getting an appraisal with your claims adjuster when the claim occurrs to assist them in coming up with a value on your car.

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by JJFreshy &raquo;</TD></TR><TR><TD CLASS="quote">Keep in mind.. if you have a claim an appraisal will help you prove your claim that your car is worth more with the parts you put on it.
</TD></TR></TABLE>

I know what the parts are worth and how much it would cost to replace them. I just want to make sure that my insurance policy knows this too.... but if I get an appraisal that the insurance carrier is not going to recognize, then the appraisal isnt worth wiping my *** with - follow?

 

If you provide valid documentation to support your claim and they do not agree to pay based on that or get their own appraisal to investigate the claim further then you have more than just a property damage claim at that point.