Insurance company will not cover ANY of my mods. :-(
05-02-2002, 12:19 PM
#33
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Sadly, there's a good reason that they don't w/o a special rider.
What is a used mod worth? What's a used modded up weekend race car worth? Why do people have the habit of returning cars to stock to sell them (and occasionally not tell the next buyer that the engine was run at 2X the normal boost for the last 75K miles)?
Mods are, from a sales/replacment value point of view, depreciative to a car. Thus, how do they (the insurance people) value your loss?
Buy me a brand new PES G2 if I wreck the car to replace the hard to sell used one I lost? Not likely.
Encourage people to total their cars to get replacement value, which would be above what we might sell our used mod-cars for? Also not likely.
Sucks. But not hard to understand. I'd do it too if I ran an insurance company.
- Z
Mods are, from a sales/replacment value point of view, depreciative to a car. Thus, how do they (the insurance people) value your loss?
Buy me a brand new PES G2 if I wreck the car to replace the hard to sell used one I lost? Not likely.
Encourage people to total their cars to get replacement value, which would be above what we might sell our used mod-cars for? Also not likely.
Sucks. But not hard to understand. I'd do it too if I ran an insurance company.
- Z
05-02-2002, 08:45 PM
#35
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Mine's trying to screw me too (more)
Okay, so I'm waiting for the check on my stolen/sturipped (totalled) civic so I can get my A4. My insurance is trying to jack me bad. They're offering me $2500 for my 92 hatchback with a 1.8L integra motor, tranny, front axels, and all the standard bolt ons, suspension, alloys, custom interior, etc.. I have receipts for everything. The stereo alone was worth $2400. I laughed at them, told them pictures were on their way and that unless they plan on doing better, they can talk to my lawyer.
06-12-2016, 05:36 AM
#40
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What He Said
well we both know your "modifications" were more extensive then mine but when I totaled my car I took anything and everything that wasnt bolted down and some stuff that was. I didnt even leave a stock ECU in it. Also they gave me extra $ for the few mods that I did claim with reciepts like the bumper and euros. What they are doing to you just doesnt sound right to me. I mean, are they really goint to inspect the car and make sure everything is there? I dont even think the claims guy even looked at my car after I stripped it... they had already decided how much they would give me for it.