ask an insurance expert: the insurance non-bs thread

Wow that is so crazy to me. Doesn’t make sense to me but I guess that’s how insurance companies keep making loads of money.

I’ll call my agent next week and see if they’ll negotiate at all. I’ll try to get some other quotes from body shops. Just a hard pill to swallow when I think of the tens of thousands of dollars I’ve paid over the years.

I do appreciate your input!! Thank you

 

push hard enough and there may be some wiggle room, but don’t get your hopes up. good luck and update if you remember!

 

reminder - if you truck is modded you need to contact your insurance company and verify you’re covered. i can’t tell you how many times i have to tell a customer their policy is not acceptable due to altered suspension, and you know that claim you just filed??????

 

So how does that work?

Will the leather shift knob from my ‘07 into my ‘15 void my policy?

How about the assembled Bilstein 5100 front kit from Headstrong I installed myself?

Thanks!

 

LOL I'm just guessing here but minor mods probably wont get noticed BUT lets say you put a 6" lift and had a rollover on the HWY with no other vehicles involved? Or you put that steel plate front bumper and T boned someone causing major injuries? Maybe that was a factor or your airbags didn't go off? Again just guessing and wanted in on this thread for reference anyway. Good info.

 

it works easy. you call your insurance company and ask them about modified suspensions. what is considered an “uninsurable risk” to them? what mods would void the insurance agreement?

 

each company can set their own standard to define “uninsurable risks”. this includes any type of altered suspensions and certain other mods. you’re right, some mods create unsafe vehicles (more risk), some mods are expensive to fix if your company has to pay for a claim, etc.

and we always need to remember that withholding certain information from your insurance company is considered fraud.

 

So the shop I had brought it to for a quote sent photos to the appraiser and after viewing those pics the insurance company sent out a nice supplement

 

good!

 

Does anyone know of an insurance company that will do agreed value insurance for the tacomas? I've put way too much money into the truck to have it wrecked and take a total loss on the parts. I've been searching and the best I can find is esurance that covers 25k of customization. Looking for more than that so I'm assuming agreed value is the route to take... I know rates are gonna be through the roof but oh well.

 

I read that GEICO lost a $5 million dollar arbitration case. Someone got a STD in a vehicle insured by GEICO. Does/did GEICO have to pay? I assume it was binding arbitration.

 

none that i can think of. insurance companies don’t want to cover that type of risk on a non classic vehicle that could be used for daily driving.

 

two courts have upheld the $5.2m judgement. not sure if geico has any recourse here.

 

Subd

 

just had to tell a customer he’s going to hear from our (progressive) underwriting dept because his lift is over 4”.

psa - make sure your modified vehicle is an acceptable risk according to your insurance company!!!

 

That is the first time I’ve ever heard about something like this and I’ve filed claims on lifted vehicles before.

 

now you know. each insurance company has what’s called “uninsurable risks”. this can be vehicle usage, vehicle type, drivers, shocks location, etc etc etc.

 

https://www.yahoo.com/autos/class-action-alleges-geico-too-143000025.html

 

That’s an unusual lawsuit. Kinda interested in how it will turn out.

 

not as unusual as this…

https://www.snopes.com/news/2022/06...ourts have already ruled in the woman’s favor.