insurance and performance parts
#1
08-08-2004 | 06:20 PM
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#3
08-08-2004 | 11:20 PM
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From: Texas
If you are talking about adding expensive Performance parts and want them to be covered in case of theft or if the vehicle gets totalled, you may need to tell them, or pay extra to get those Items covered.
If you are talking about your rates increasing because it will be faster than stock, They will never know what you have done to the engine...Dont tell them.
If you are talking about your rates increasing because it will be faster than stock, They will never know what you have done to the engine...Dont tell them.
#4
08-09-2004 | 01:17 AM
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Joined: Jul 2004
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From: San Diego
It depends on the insurance. My 98 f-150 was just totaled a month ago, so I know the routine pretty well.
As for after market parts, I got crap for them.
******** x2000 hard tonneau cover.
Cost: $900 I got: $50
PIAA fog lights
Cost: $199 I got $45
6" RCD Suspention lift
Cost: around $1200 I got $150
I also got more money when I reinstalled the stock stereo system back into the truck and reinstaled the stock wheels and tires.
So basically "insurance wise" its better to keep everything stock.
I am not sure how they handle performance parts, as I was afraid to tell them about my 4.56 gears and TB spacer. I was afraid they were going to lower my value since they were not stock.
As for after market parts, I got crap for them.
******** x2000 hard tonneau cover.
Cost: $900 I got: $50
PIAA fog lights
Cost: $199 I got $45
6" RCD Suspention lift
Cost: around $1200 I got $150
I also got more money when I reinstalled the stock stereo system back into the truck and reinstaled the stock wheels and tires.
So basically "insurance wise" its better to keep everything stock.
I am not sure how they handle performance parts, as I was afraid to tell them about my 4.56 gears and TB spacer. I was afraid they were going to lower my value since they were not stock.
#5
08-09-2004 | 07:57 AM
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Joined: Feb 2004
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From: Washington DC
I spoke with my insurance company about the 6" lift and wheels being covered and was told I need to provide them with reciepts and they would give me a new quote (the rep said it would be about another $50 bucks every 6 months) but if anything happend to damage the lift it would be fully reimbursed at the reciept price, including labor if you included that in your cost estimate. Its all about what you want covered and how much you want to pay. Otherwise the only thing covered is stock.
#6
08-09-2004 | 09:19 AM
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Joined: Mar 2001
Posts: 4,316
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the biggest issue is denail of claims.
if you make any serious changes beyond stock (check with your insurance compnay as it is a dollar amount) you need to notify them.
especially with performance parts. if you get in an accident and the appraiser sees these parts, they reserve the right to not pay out... meaning you right off a $40,000 trcuk and the insurance won't pay for it.
But like I said, check with your company. If the cap is $1,000 then you have that much performance to put in without an issue.
if you make any serious changes beyond stock (check with your insurance compnay as it is a dollar amount) you need to notify them.
especially with performance parts. if you get in an accident and the appraiser sees these parts, they reserve the right to not pay out... meaning you right off a $40,000 trcuk and the insurance won't pay for it.
But like I said, check with your company. If the cap is $1,000 then you have that much performance to put in without an issue.