Originally Posted by type-j-spec
i was told by my former insurance company it would be cheaper just to save money for the "xtra" mods on my car then pay a monthly amount to the insurance company,how tru is this?
What do you mean? Did they suggest saving money so you could insure these parts yourself? I'm not understanding the question.
JJFreshyZC...good point on depreciation vs diminished value. However diminished value does still play a role in total loss valuations. For example, a vehicle which has been deemed a total loss may have damages unrelated to the accident. Those damages diminish the value of the vehicle and an appropriate value is subtracted from the ACV.