[VWTornado]

I am curious how everyone insures there highly modified vehicles. Reason I ask is because when I bought my 337 (already had coilovers, R32 brake upgrade, FMIC, chip, etc...) GEICO wouldn't even insure the car so I ended up having to go w/ another company.

They said the mods were "racing modifications" and refused to insure it (I had been w/ them for 11+ years also).

I haven't told the new company about any of the mods, they just think its a stock 337, but I'm afraid if something happened to the car I would be out $6k or so in mods.

I'm afraid to even ask about insuring mods on my car w/ the new company cause I don't want them dropping my policy or anything.
How does everyone else insure there modified vehicles?

 

[spoonie]

Re: How do you insure your highly modified vehicle? (VWTornado)

not sure what happens in the states, but in Ontario, it's called "non-disclosure" when you're lying about the goodies on your car.
in the event of an accident, even if it's not your fault, and they find go-faster bits on your car, your life could suddenly become a burden. around here, you wont be covered, and you may just end up paying someone's medical bills for life.
my insurance company knows about all my modifications, and when i asked if i could slap on a turbo or a supercharger, they said no. boooo. time to find another carrier.

 

[FatSean]

Re: How do you insure your highly modified vehicle? (spoonie)

They don't know and I am willing to eat the cost of the parts.

 

[VdubChaos]

Re: How do you insure your highly modified vehicle? (FatSean)

Regardless HOW you insure it or for how much....the reality is that if you spend XXXX amount of dollars on parts to put onto your car, it will only bring up the value of the car XXX amount.
Insurance wont pay you for what YOU paid. They will simply add VERY LITTLE to the total value of the car....as "turbo" or exhaust doesnt raise the value of the car, and you car already had a stock one to begin with.
It sucks for those that put A LOT of money into a car...
And this is without even talking about labor to get everything on etc, cause you lose all that also.....in the even of an accident etc.

 

[nerdhotrod]

Re: How do you insure your highly modified vehicle? (VdubChaos)

you always have the option to buy the car back and part it out.
I know people that have gotten 1-2 year old cars back for 2000ish.
salvage what you can, part out what you can....its a pain, but its an option.

 

[spoonie]

Re: How do you insure your highly modified vehicle? (nerdhotrod)

i think you guys are missing the point here. it's not about the "value" of your mods. its about the risk of you being a complete yahoo.
you're paying for car X with a risk value of A, living in area B in age group C.
you've slapped a s/c on your car X and now they have no idea how to assess the risk value. they can only assume (usually correctly) that you're now more risk than they're willing to insure.
i side with the original poster - its bloody annoying to be told you cant do something when you have a 15+ year record without a single ticket or claim.

 

[VWTornado]

Re: How do you insure your highly modified vehicle? (spoonie)

Quote, originally posted by spoonie »

you're paying for car X with a risk value of A, living in area B in age group C. you've slapped a s/c on your car X and now they have no idea how to assess the risk value. they can only assume (usually correctly) that you're now more risk than they're willing to insure.

I'm just trying to figure out how to call them and ask about mods w/o them straight canceling my ass. I don't have any crazy mods like big turbo or anything, just the simple bolton stuff like chip, exhaust, coilovers, BIGGER BRAKES (better stopping power, safer), intake, Peloquin LSD (better all weather traction

).
I honestly don't care as much about the money in mods, just that they will actually insure me in the event of an accident or theft.

 

[CBJ]

Re: How do you insure your highly modified vehicle? (nerdhotrod)

Quote, originally posted by nerdhotrod »

you always have the option to buy the car back and part it out. I know people that have gotten 1-2 year old cars back for 2000ish. salvage what you can, part out what you can....its a pain, but its an option.

This is not the problem. The problem is the cost incured if you hit someone else. The insurance company can and will look at your car, see the non disclosed modifications and refuse to pay not only you but the other party. So you are now on the hook for everything. God forbid they are injured. In essence you could be screwed.

 

[spoonie]

Re: How do you insure your highly modified vehicle? (VWTornado)

i'd cold-call some brokers and preface it with "i have a 6 star rating, no accidents or tickets in the last ...blah blah blah".
tell them your current broker/carrier just wont listen.
just block your phone # before calling, and dont give out any personal info. i'd go so far as to say its a different model car w/ the same mods just to test the waters.

 

[VWTornado]

Re: How do you insure your highly modified vehicle? (spoonie)

Quote, originally posted by spoonie »

just block your phone # before calling, and dont give out any personal info. i'd go so far as to say its a different model car w/ the same mods just to test the waters.

Good idea. Maybe I could tell them its a Jetta 1.8T w/ all those mods...that way its at least the same engine and brand of car.

 

[Michael Blue]

Re: How do you insure your highly modified vehicle? (VWTornado)

It's called an "agreed value" policy.
You call them up, let them know what you've doen to the car, show retail receipts (if you have them) and decide on a value for the car as a whole, as well as values for each modification. Usually 40% of retail on the parts, since once installed they're technically "used".

At any rate, it keeps you in good merits with the insurer, and your parts are covered (at least partially) if anything happens.

 

[VWTornado]

Re: How do you insure your highly modified vehicle? (Michael Blue)

Well, after hearing about the "non-disclosure" stuff and problems other friends and myself have had in the past, I decided to call my insurer and let them know all the mods on the car. The woman said all the mods I mentioned all look acceptable and that she was going to research further w/ more experienced people to make sure what she told me was true. Worst case I'll take out any unacceptable parts and replace them w/ stock parts...as long as I can keep the chip and LSD I'm happy.

 

[2001TurboGTI]

Re: How do you insure your highly modified vehicle? (VWTornado)

You can buy custom parts coverage w/ Progressive. Even if you don't, Progressive will still cover up to $1,000 of custom parts. Anything above that, you have to buy the extra coverage.

 

[atomicalex]

Re: How do you insure your highly modified vehicle? (2001TurboGTI)

I have AAA in Mi, and I bought a $1K-$5K "additional equipment" rider. It covers everything that I have added as long as I have reciepts. They offer racetrack insurance but seem to be a bit reticent about applying it to street cars.

 

[VWTornado]

Re: How do you insure your highly modified vehicle? (2001TurboGTI)

Quote, originally posted by 2001TurboGTI »

You can buy custom parts coverage w/ Progressive. Even if you don't, Progressive will still cover up to $1,000 of custom parts. Anything above that, you have to buy the extra coverage.

Thanks for this. I'll see about the parts coverage...but I'm really more concerned about them simply knowing the parts are there so I don't get screwed later on and they deny coverage because of certain parts not being "acceptable". Hopefully being honest w/ them pays off in my favor. I was honest w/ Geico about the cars mods before I bought it and they weren't going to cover it, so I basically told them to go to hell.

 

[gtiturbo22]

Re: How do you insure your highly modified vehicle? (VWTornado)

i got hit by a drunk driver head on it f'ed up all my engin mod the fmic was basically a tmic after car was totalled got 15000 for a 02 gti but the drunk guy felt so bad he bought me a new apr kit so it worked out in the end but insurace wont cover sh*t.

 

[[email protected]]

Re: How do you insure your highly modified vehicle? (gtiturbo22)

As I found out with my last car- if I wreck my car and have modifications, I can take off every part I purchased for that car as long as I have the reciept.

 

[VWTornado]

Re: How do you insure your highly modified vehicle? (gtiturbo22)

Quote, originally posted by gtiturbo22 »

i got hit by a drunk driver head on it f'ed up all my engin mod the fmic was basically a tmic after car was totalled got 15000 for a 02 gti but the drunk guy felt so bad he bought me a new apr kit so it worked out in the end but insurace wont cover sh*t.

Good to hear he took responsibility for his actions and went above and beyond what he probably needed to do. http://****************.com/smile/emthup.gif

 

[gotapex]

Grundy.
AAA.

 

[DSG-TDI]

Re: How do you insure your highly modified vehicle? (rotaeven)

Quote, originally posted by rotaeven »

As I found out with my last car- if I wreck my car and have modifications, I can take off every part I purchased for that car as long as I have the reciept.

who's your insurance provider? anyone know what's USAA's policy regarding mods?