Insurance experiences with mods?

I have my rigs insured for stated value.

 

My brother just had someone sideswipe his car and he has a $3k rider for custom parts. When they did estimate they only offered $100 for his wheels but $200 for the TVs in his head rest. He ended up just buying the car back for $400 bucks. Not sure if others have had a good experience.

When I had an accident the agent let me b ring the car home and i took all my stuff off as I still have a ton of stock parts and technically he said its yours until we pick it up.

This was progressive in both cases. Unless you have a super custom vehicle the extra cost each year is not worth it and in many cases they won't price it out well if they total it and your better off taking the parts off yourself.

 

So does @G.T.

But he's also insuring a lot more than most. For him it's beneficial, for the majority (and depending on coverage with your provider) it can be an option, but not always the most cost effective.

 

Replacement value is prorated for age/use. So $2k worth of tires (say..) with 10k miles but are 3 years old might only pay out $400.

 

I figured something similar but from what my brother stated the agent showed him a sheet and they have values they pay out. They offered 2-3x for some old ass TVs compared to $100 for some wheels. Few thousand in parts and they were going to give him a couple hundred bucks if that.

Only saying in many cases the extra insurance you pay in the end does not pay out. I would probably do it if I had a ton but many cases your betting on yourself and the cost to insure outweighs the payout.
When I had my accident my parts were 6 months if that old and they did not want to give me anything for them.

Sounds like different insurance companies and the right adjusters make a difference.

 

I have Agreed Value Insurance on my Car, but it is also not my Daily Driver.

 

My toys are not listed as my daily drivers either. Have a pinto as my daily ....lol just kidding there . But when is the last time you saw a pinto ?
Crap, did they all go the way of "cash for clunkers "?
Hmmmmmmmm

 

Start farm gives me up to $5K *if* I have proof (pics and reciept) as part of my comprehensive coverage.

 

I'm with State Farm also. With my policies I had to provide pics and also have them see the vehicles, record the vin #s and I keep all records of maintenance and mod's. Better safe then sorry.
My older land rovers and my Nissan patrol I also provided professional appraisals. My wife has a couple of older collector cars she also has to have professional appraisals done on a yearly basis.
Insurance company's always have strict rules on these things as they absolutely hate paying out.
Kind of a love hate relationship

 

Amen ! Brother Amen!
Paying is always easy. But I always hear the horror stories about people who have had claims.
I'm lucky to have had only one claim a few years back on a custom built Harley. Took me almost a year to get it paid out in full.
That's when I switched from Farmers to State Farm, and started the ( stated value) and riders. I never knew. Still don't lol wife does it all.

 

I have allied and my agent spelled it out to me this way when i modified my jeep. If its a functional component it is covered, IE suspension. Anything for "visual or aesthetics" were not. IE if i put a wing on or in my actual case a windshield visor my custom front bumper. your mileage may vary and best if you just call your agent.

 

With stated value I had my rigs inspected by state farm . Weird how there all so different .

 

Yes, I would consider $6 per month to be a small fee for an extra $6000 in coverage that the policy doesn't provide and I'm a stingy bastard by nature.

 

increase $400 per month? are you kidding....i have USAA and insure my Lexus GS350, Lexus ES350 and new Tacoma for $675 every six months...BMW R1200gs cost $380 annually with Progressive .......if thats really true, find another insurance company or broker

 

i was laughing because another member said his insurance company wanted to raise his rate by $400 per month when he only pays $450 a year

 

This fully built truck got wrecked. Not sure how it all played out with the insurance company but you could skim through it

https://www.tacomaworld.com/threads/ladies-and-gentlemen-the-enigma-build.454621/