Insurance and Mods

Hey everyone-

I’ve read a few threads on insurance and mods but they all seem varying in opinions.

I have about $4k in mods... suspension/wheels/tires/lights. What do most do in terms of insuring it? I have Geico and wondering if you claim it or need a separate policy or rider? Do you just save the receipts and hope for the best if anything happens?

I had a motorcycle stolen about 5 years back and they covered some of my mods... but I never claimed them beforehand. I got about half back.

 

I had the same question and in today’s messed up world we will probably get sued when our nice new solid steel bumper hits someone and “hurts” them because it’s made to solid lol.

 

Yeah I’m asking more about if your baby gets stolen or wrecked... how much do you get back for mods?

 

After completing my Son's truck, I took ALL receipts for parts and labor and had the policy adjusted. He has the policy now, but without doing this (or after the fact)...you get no adjustment for proof of loss.

 

How much extra is it roughly if you don’t mind me asking? And do you just call them and supply receipts?

 

Any modifications or aftermarket parts will not be covered unless you buy supplemental insurance specifically for those parts. The exception is tires (obviously) and rims, although you'll only get the value of the stock rims.

Really the only person who can adequately answer this is an insurance agent. Call your insurance company.

This is a good reminder that I need to call my insurance company and add coverage for my $800 tonneau cover and my bull bar.

EDIT: some policies do cover up to a limited value of modifications without supplemental insurance. But you need to check your policy individually.

 

If mods are less than a year old n you have reciepts ins should cover parts lost. It states it in the policy. Out side the one year need to reoprt to the insurance company.

 

I have Allstate and right when my policy was renewed they started a new addition that was for Mods. I inquired with my agent but no one in the office was up to speed on how much it would cost for coverage, hopefully at my next renewal they will be up to speed as I would like that extra coverage

 

My insurance includes $5000 coverage for aftermarket and custom items as a standard part of the policy. Call your insurance agency and ask them or dig through the policy yourself and sort out what all the lawyer talk means.

 

Added the truck to our policy at close and had the mods/parts done before the first real insurance payment...so not sure the difference. I called initially, but went to see our Rep (who is local) after all was done. Been with them since 1986.

 

If that's true for your policy that doesn't mean it's true for everyone else's. Who's your coverage with?

 

I bet you have USAA.

 

Usaa, its a state thing here as well.

 

I just know is I wasn't going to be out $15K in upgrades without confirmed paperwork and receipts.

 

The other thing about modifications, depending on what they are...if you don't declare them to the insurance company and you're in an accident, they could invalidate your policy. The mod may up your risk and therefore require a higher premium, which sucks to pay but it's better than being left holding the bag.

 

Yea me 2 but just threw in the last part as that would be my luck lol.

 

Talk to your agent, they're the best source who can give you factual information based on your region and policy.

End of thread.

 

When my 2013 was totaled in 2016 I received about $2,500 in compensation for my modifications. I provided receipts for everything I had done to the truck (I had about $4,000 into it) and I did not have a separate rider. I took back everything they did not compensate me for. They argued depreciation on the modifications just as they had argued it for the truck. I got $900 for the cap I had purchased used, even without documentation.

I also got sales tax for the modifications so my total cash out value was in excess of what I paid for the truck when it was new.

When my wife's Mazda CX-5 was totaled in 2016 (twas a bad year for me in vehicles, although neither accident was my fault) I had a rider for new car replacement. As such, the way the policy was written I did not get additional compensation for the modifications added, but was given compensation for the add-ons shown on the Maroney sticker, as well as the dealer-installed remote start module.

It would be worth calling your agent specifically about everything.

I had been told that if my truck were to have been rebuilt after the accident they would have had to rebuild it to how it was prior to the collision, including all of the aftermarket parts I had on the vehicle. I have to think some of that was the reason they elected to total it.

Also, for what it's worth, I had an ARB on my truck when it was totaled and I didn't get any flak from the insurance company about it in terms of causing extra damage or anything, although it saved my bacon and did a number on the other guy's car.