Originally Posted by RiceRocket
What about my mods? Aren't they covered?
Typically, NO. If you add a modification to your vehicle on a "standard policy" (not an agreed value policy), you MUST submit the reciepts to your insurance agent so that they can add an endorsement for the new item. Expect your rates to go up with each endorsement that you add, but not that much.
Won't my insurance company cancel me if they know what I am doing to my car? (or I add a performance item?)
Yes and No. Most insurance companies write "Standard" policies. These policies are for the masses, not for automotive enthusiasts. Places like Allstate, Progressive, State Farm, Geico, etc, DO NOT offer policies that will fit you. They MAY offer you a few endorsments, but beyond that, your car doesn't fall within the scope of their policies. They're not canceling you becuase you modified yor car, but rather becuase your car no longer falls within the limits of the policy (there is a difference).
bet you knew i would reply, nice meeting you at the BBQ
progressive only writes ACV and stated amount policies for personal auto.
about mods: every policy we write with full coverage automatically has $1k in additional custom parts and equipment coverage, for free, provided you have the reciepts. you can have a maximum of $5k in custom parts, if you have more than that and want them covered you have to take out a stated amount policy.
i do not cover any of my mods because i purchased almost all of them used from TR or ebay. the only way to have my parts covered is to get an apprasial and a stated value policy(which is considerably higher than a regular policy). i protect my investment the best i can with a killer anti-theft system and pray if i total my car that the engine isnt harmed.