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Old 09-05-2007   #1
sleepydsm
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Modded car owners: Will you be compensated for mods?

Lets use a 1G for example, lets say you have a modded 1G, $10,000 invested, and proof of it with receipts and such. Lets say the 1G "Blue book" value is $2,500. If your car is totaled or anything, will they compensate for all your mods? Or are you screwed?
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Old 09-05-2007   #2
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Re: Modded car owners: Will you be compensated for mods?

Depends on the insurance company. I've always had mine insured for what I can prove I have in it. Luckily I've never had to find out.
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Old 09-05-2007   #3
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Re: Modded car owners: Will you be compensated for mods?

I think if I remember right, you have to have an addition to your insurance policy for them or at least that is what I have heard from others.
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Old 09-05-2007   #4
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Re: Modded car owners: Will you be compensated for mods?

When I had my grand prix I got more money when it got totalled because I had "Mods" on it. I did not have different insurance or anything. And also Mike didnt have different insurance either and he got extra money for his SI.
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Old 09-05-2007   #5
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Re: Modded car owners: Will you be compensated for mods?

You typically have to have additional coverage on your car before the accident or whatever. That will cover the $$ parts that may be lost/stolen/broken.
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Old 09-05-2007   #6
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Re: Modded car owners: Will you be compensated for mods?

Yes, you should have additional coverage. I too got extra money from a mod'd car getting totalled, but they have a limit and it was like 10% of the value of the car or something. That was with Allstate.
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Old 09-05-2007   #7
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Re: Modded car owners: Will you be compensated for mods?

I thought if it was over 10 years old insurance companies won't cover the modifications?
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Old 09-05-2007   #8
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Re: Modded car owners: Will you be compensated for mods?

I specifically went over this with my Farmer's agent who was also a close friend. My mods were completely covered as long as I had pictures of the mods installed on the car, they couldn't be laying on the seat per se. There was no extra charge for this, just having full coverage on a 10-year old car was enough.
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Old 09-06-2007   #9
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Re: Modded car owners: Will you be compensated for mods?

Steve is correct. I am a Farmers Agent and I recently spoke with an Underwriter on this issue. If you have verification of what was installed on the car and it is an item that is "bolted" on it will in most cases be covered. It is recommended to let your agent know what you have so it is noted ahead of time. Dated photos work nice. The underwriters were more worried about full body kits and such since that is more likely to be damaged. Other companies may not be as lenient so you should ask your agent.
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Old 09-19-2007   #10
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Re: Modded car owners: Will you be compensated for mods?

I know this is slightly off topic, but my brothers car was recently in an accident, and I am in the process of getting a hold of the insurance company, I do not know what to expect from the incident.

I was driving west on 81, a tow truck was driving east on 81, its wheel fell off and smashed into me. (one in a million shot)

We just finished installing a freshly rebuilt 6-bolt 20 over, TRE Stage 2 Trans, V-Trim, and all the supporting mods.

This car was Alex's from MAP, it has NO RUST.

Needless to say that combined parts + labor, to recreate this car would be over 10 grand.

If they total it should I ask for the total it would take to recreate it?

or do you think they might fix it?

do you think I should sue for gross negligence?
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Old 09-19-2007   #11
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Re: Modded car owners: Will you be compensated for mods?

That sucks! What kind of tow truck was it? I would say that they wont let you get money for the labor unless you brought it somewhere to get it done. If you have invoices and show them them they should give you money for them
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Old 09-19-2007   #12
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Re: Modded car owners: Will you be compensated for mods?

Holy crap, all of that is from hitting a tire?? Wow. Worst case scenario is that you get compensated for the list price of the car and buy that one back for 10% of what you got. Then you use that money to fix it back up, and likely pocket some or buy more mods!
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Old 09-21-2007   #13
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Re: Modded car owners: Will you be compensated for mods?

Quote:
Originally Posted by JET View Post
Holy crap, all of that is from hitting a tire??
Thats what I said as the twirling fireball that was the trucks tire fly towards me and then SMASH!!!

I know from working on them that tow truck tires are easily 75lbs, take that and hurl it at your car WITHOUT any rubber on it (as far as I can tell, the tire had discinigrated by the time it hit me) at 120 closing velocity and you have one hell of an impact.

What SUCKS is this was a PERFECT dsm with NO RUST!!!
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Old 09-21-2007   #14
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Re: Modded car owners: Will you be compensated for mods?

I usually have quite a bit of extra coverage on my vehicle when it is on public roads.
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