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Discussion Starter #1
If I upgrade my T-Bird with mods, will that cause my insurance to raise? What if I put racing stripes on my car? I was just wondering, because I really DO NOT want that to happen :(.

Also, would upgrading my car and putting some mods on it raise it's value?

Thanks for helping me out.
 

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This must be your first car, am I right?

As long as you pay you bill on time the insurance company is none the wiser. A couple guys have had their insurance cancelled because they had heavially modified cars that were very fast.

If insurance cost more due to racing stripes then autozone would be out of business.

Usually a modified car gets less value than a stock one. Nobody wants a car that some kid has modified and hot rodded around with his friends. See what I mean here?

I'm not saying that all modified cars are worth less, just most of them are.
 

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Discussion Starter #3
Second car actually.. I didn't know.. I was just curious about the value and stuff.
 

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The quickest way to get canceled is to take your car in for an adjuster inspection when you a 6-point roll cage and tubs.
If you mod it heavily and get into an accident, they will see it and may raise or cancel even if your car was involved in a hit-and-run (someone else hitting it while parked).
BMan.
 

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Discussion Starter #6
Wow, that's intense. So far, all I have on mine is just upgraded split exhausts (Flowmasters). I didn't take off the catalytic converter because I heard you could get a seriously big fine with that off.

I was thinking exterior upgrades next and probably the K and N.. Then I'm done for good if insurance companies are that hardcore about it.
 

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hahaha, i know people that have their cars insured for x amount of money, they brought in all their reciepts to their insurance agent to prove that their car is worth and thats what they base the value off of. and that amount is what they base your monthly payment off of.

btw, my car insured as a 1996 lx tbird nothing more nothing less, if i get in an accident and it gets totaled im screwed cause they will only pay out like 4000 for my car, i put more into it last summer than that. if i do get in an accident ill take their 4k and then buy the car back and fix it or part it out to make my money back
 

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VicRattlehead said:
hahaha, i know people that have their cars insured for x amount of money, they brought in all their reciepts to their insurance agent to prove that their car is worth and thats what they base the value off of. and that amount is what they base your monthly payment off of.

btw, my car insured as a 1996 lx tbird nothing more nothing less, if i get in an accident and it gets totaled im screwed cause they will only pay out like 4000 for my car, i put more into it last summer than that. if i do get in an accident ill take their 4k and then buy the car back and fix it or part it out to make my money back
You can get your car insured for full value by being up front with the company and proving the value with receipts. Of course the down side is that your Comprehensive and Collision rates will go up accordingly. Also if you list performance mods like supercharger, ported and polished heads, cams, headers, etc. your liability insurance will also go up, especially for someone under say 25 years old (they are not as dumb as some may think). Some companies will not insure high performance cars and you will be dropped ... others do, but charge addditional premiums (big bucks)... It will be like paying insurance on a Viper, and who can afford that??? Well maybe only a new Cobra....

And I won't even go into what could happen if you have an accident that is your fault, and the isurance company finds out you have major HP mods.. I shudder to think..

And "Vic," if I totalled my car here in FL, the only way I'd get full value Collision money ($4000) from the insurance company is by signing the title over to them. They in turn will sign it over to a salvage company for whatever they agree on, possibly more than $4000. Once it is in the salvage company's hands it is unlikely that I'd be able to buy it back for what the insurance company gave me for it, unless it is a "buddy" deal. The insurance folks will negotiate the most they can for it, and the salvage guys will want to make on it by parting it out, and they will know what my mods are worth.

There is another way to get my collision money without signing over the title, but in that case, the insurance company subtracts the salvage value from my vehicle, in other words $4,000 minus what they would get from the salvage folks. That's the way I'd go, keep the car and get a few buck back, too.. The insurance co. can't ding you extra salvage value for the mods, unless they are willing to pay you for them also, so it would be a wash.... at least that's how it works in Florida.

I deal with insurance companies every day, and have been for a number of years now, I can tell you that you can not come up on top... they have some of the most expensive and best lobbyists in every state working for them and the law is on their side in most cases......
 

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Discussion Starter #9
Cool.. Thanks for your response's guys. I think then I'll just wrap up my "mods" with the K and N cone filter along w/ some other small mods (cold air intake and probably just improved audio equipment) and I'll be done!

By the way, would audio equipment (i.e. subs, box, amp, cd deck if broken) be covered if I got in an accident (and I wasn't at fault?)?

Thanks for your help guys!
 

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Again, most insurance policies only cover factory (sometimes dealer) installed audio equipment. So any aftermarket audio (or video) equipment you install will not be covered in full in the case of an accident or theft. If you have an accident, and they are gonna total your car, pull the stereo equipment out and put the factory back in. If an aftermarket set up is damaged in an accident, it probably won't get fixed... If it's stolen it's not covered.

When you get your premium notices they usually include a disclaimer letter that specifically tells you that any aftermarket audio (video) equipment is not covered, unless you go to your agent and have it added to the policy (I know, who reads that stuff???)

If you are concerned about your audio equipment, get it covered, but your premiums will rise. The good news in terms of theft is concerned is that our cars are not particularly sought after by professional car theives, and if your audio equipment is in the dash, the door panels and the trunk and you don't have JL or Kicker labels all over the windows, no one will know it is there....
 

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Discussion Starter #11
Awesome.. Thanks a lot for your help.

I had a similar situation about my cd deck when my first car got totalled. He said I could take it out along with the speakers.. I don't plan to put audio / Type R stickers on my car.. they look tacky. I only have my fraternity sticker on my car..

Thanks again
 

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96 GoldBird said:
Again, most insurance policies only cover factory (sometimes dealer) installed audio equipment. So any aftermarket audio (or video) equipment you install will not be covered in full in the case of an accident or theft. If you have an accident, and they are gonna total your car, pull the stereo equipment out and put the factory back in. If an aftermarket set up is damaged in an accident, it probably won't get fixed... If it's stolen it's not covered.

When you get your premium notices they usually include a disclaimer letter that specifically tells you that any aftermarket audio (video) equipment is not covered, unless you go to your agent and have it added to the policy (I know, who reads that stuff???)

If you are concerned about your audio equipment, get it covered, but your premiums will rise. The good news in terms of theft is concerned is that our cars are not particularly sought after by professional car theives, and if your audio equipment is in the dash, the door panels and the trunk and you don't have JL or Kicker labels all over the windows, no one will know it is there....
My friend had 2 JL W0s, Xtant amp, and panasonic fancy pants dot matrix reciever. His boom boom got jacked, he showed the insurance company the reciepts for everything he purhcased and they reimbursed him 100% for the stereo equipment.

joseph
 

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The Great Obucina said:


My friend had 2 JL W0s, Xtant amp, and panasonic fancy pants dot matrix reciever. His boom boom got jacked, he showed the insurance company the reciepts for everything he purhcased and they reimbursed him 100% for the stereo equipment.

joseph
That is not the norm. Either he had a really friendly agent, or a policy whose language covered aftermarket stuff, in which case it was included in the premiums.

I have a good policy with a good company, Auto Owners, and I get the disclaimer letter every 6 months with my premium notice. I have over $4000 worth of equipment in my '96, at least that's what I paid for it with install... that is damB near the blue book of my car, is it likely Auto Owners will give me 100% for my "stolen" stereo???? I somehow doubt it.

I highly recommend that whoever may be concerned with whether their aftermarket stereo is covered or not, read their policy, and don't count on the goodness of the insurance company's heart, for the most part they don't have one. The policy language is what will govern the coverage, not what an agent tells you, or what may have happened in someone else's experience. And read all that crap they send you with the premiums, you may be shocked to find out what is NOT covered. Stuff like cell phones and digital cameras.....
 

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Metalbassist, I see your from Ky...what part? On the ins thing, I wrecked and totalled my bird about 2 years ago and I gave ins every recipt for evey mod I had on there. I had suspension, rims and tires, full audio, and full interior. They boosted my value and my ins didn't go up at all. I had it salvaged and still have it today. You can do any mod you want and it won't affect your ins at all unless you do major engine mods and ins finds out. You should be ok. Good Luck
 

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Discussion Starter #15
Yes I am.. I live in Radcliff by Ft. Knox, but I am currently attending UK right now. My insurance is through my grandfather's USAA policy and I am on liability.

I can't really afford to boost to full coverage just for a 1000 dollar stereo system if that is what is it going to take.. but your saying KY companies might be a little easier to deal with when it comes to this situation?
 

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Metalbassist03 said:
Yes I am.. I live in Radcliff by Ft. Knox, but I am currently attending UK right now. My insurance is through my grandfather's USAA policy and I am on liability.

I can't really afford to boost to full coverage just for a 1000 dollar stereo system if that is what is it going to take.. but your saying KY companies might be a little easier to deal with when it comes to this situation?
Thats cool, I live in Mt. Washington. My ins company was pretty lient when it came to my mods. My agent new about my mods long before I wrecked my car and it never raised my ins. I know they did cover me to an extent for the mods. I think you will be ok:D
 

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VicRattlehead said:
hahaha, i know people that have their cars insured for x amount of money, they brought in all their reciepts to their insurance agent to prove that their car is worth and thats what they base the value off of. and that amount is what they base your monthly payment off of.

btw, my car insured as a 1996 lx tbird nothing more nothing less, if i get in an accident and it gets totaled im screwed cause they will only pay out like 4000 for my car, i put more into it last summer than that. if i do get in an accident ill take their 4k and then buy the car back and fix it or part it out to make my money back
i dont understand this, how can they "TAKE" ur car if it gets hit and u have to buy it back? i mean wtf.. i would steel it before they could get to it. thats just plain stupid :mad:
 

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ITHURTZ said:
i dont understand this, how can they "TAKE" ur car if it gets hit and u have to buy it back? i mean wtf.. i would steel it before they could get to it. thats just plain stupid :mad:
The insurance company can choose not to fix your car, and they will if the damage exceeds the value of the car. In that case they offer to give you the value of your car in return for signing it over to them... they take the wrecked car and you get money. If you don't sign over the car, you don't get the money.

That's what happens if your car is "totaled"... what really sux is if you owe the bank for it when it is wrecked and the loan exceeds the value.. then you give up your car, give the money you get to the bank .. and still owe the bank money ..

It happens all the time....
 

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ok heres my few cents on this, i had a 1991 f150 that was totalled, i bought it back and sold it, and got a check for it, the problem was they gave me 3k less than i owed! wel i fought it and fought it and lost they have people who research this stuff all time and i got them to come up 1k and still lost!. im not 100 % for sure on modifications, but with audio , as long as its in the stock location they have no problem putting out the cash , but if you have other compnets, you need to tell them so they can have the additional comprehensive coverage on it. the system in my 90 ls i used to have was worth about 2k and it was only like another 10 bucks every six months. as far as the high performance issue, i have a similar issue with my current car being that it never came with a v8. me and my agent arent sure what to insure it under. to the point i think hes gonna need to call his corporate office and find out. we were thinkin to try it under an xr7 , but the engine still doesnt match for that year. any ideas? anyone run across this? i just dont want a situation about what the car really is if and when it is ever in a wreck.oh my agent did say about my 1996 truck though the lift on it has no effect on my rates or libilitys of coverage. i have farmers.
 

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The Great Obucina said:


My friend had 2 JL W0s, Xtant amp, and panasonic fancy pants dot matrix reciever. His boom boom got jacked, he showed the insurance company the reciepts for everything he purhcased and they reimbursed him 100% for the stereo equipment.

joseph
my first car was stolen and audio egipment was taken from it that totaled $2200. i had receipts for all of it and the insurance co. only gave me $750. i dont know where they came up with that amount but thats all they gave me. needless to say, i was pissed.

Frank
 
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