Insurance for mods
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933 Posts
Good question really. This is something I am about to look into myself. If anyone knows the best way for going about this please post it up!
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1,557 Posts
whats you could do is get your car appraised for what its worth with the mod (by a licensed company) and your insurance company will insure your car for that value. its what i have to do with my saleen
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8,681 Posts
This.
Expect your rates to rise sharply if you go this route. Or at least that's what I have been told by my ins co.
What will happen, should something happen, is the ins co will cut you a check for the replacement cost of stock parts and you will have tp cover the difference.
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690 Posts
Coverage and rules vary widely from State to State and between insurance companies . Your best bet is to find a company that will insure an 'agreed value' policy where you pay for an independant appraisal of your vehicle . Some companies will not insure a car with nitrous or aftermarket F/I .
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2,038 Posts
Why would you? My insurance company thinks i only drive 5miles to work and back. Oopsss (;
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1,557 Posts
because if you spend 20k in mods and wreck your car and they only give you a check for 5-10k (the value of a gt) thats why.
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2,038 Posts
They will only give you value period. Its just like selling a car mods don't increase the value of a car
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1,557 Posts
Really then those old collectors car and This modded hot rod and restored cars must not be worth anything...
Once again to the op. Get your car appraised when you have all the mods yoou want. Then talk to your insurance company about insuring it for its value (appraised price)
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251 Posts
For the most part he's right. I hate it when people say "the cars only worth 5 grand but all these mods equal up to 10,000 so im asking 14000 or best offer thanks" on craigslist. So stupid. No one's gonna buy it then.
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1,557 Posts
That's why I said get it appraised. Would you sell your twin Turbo with a 10k sound system for a regular gt price? No. But would you get full value back on your investment? Again no.
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2,038 Posts
Wheres the supercharger option on kbb then when i look up values? Or the cold air intake option? Right because mods do not increase the value. People ask for more but it don't always mean they will get it. Personally if someone has work into a car i will give them a few bucks extra. Maybe 500.. most people wont. Insurance companies ask you if you will be doing any mods to a car so they can jack up your rate. Not because they will give you more when you total it. The only way you will get more then base value outta a car when selling it is if you have big things done to a car like a supercharger. But an insurance company wont do nothing for you. Hey guys my 04 gt is worth 9500 on kbb. I added a cold air intake loud mouth 1s and a x pipe now its worth 10500!! Ricer math 
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when you start modding heavily the dollars add up and the value goes up. im not saying that you get what you paid but if you get it appraised you can get it insured for the appraised price.
thats what happened with my saleen. they originally insured it as a gt but my agent knew better and told me to get it appraised and they will insure it at value. and saleen, roush, shelby are consider "modded" so yes they will cut you a bigger check if you insured it AT VALUE.
once again op if you plan on heavily modding it get it appraised then insured it at value.
thats what happened with my saleen. they originally insured it as a gt but my agent knew better and told me to get it appraised and they will insure it at value. and saleen, roush, shelby are consider "modded" so yes they will cut you a bigger check if you insured it AT VALUE.
once again op if you plan on heavily modding it get it appraised then insured it at value.
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7 Posts
Haha yeah "when I'm done getting all of the mods I want", I don't know if I'll ever come to that point. Thanks for the suggestion though and I get with the turbocharged and supercharged stangs that you should def get it appraised.
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