Insurance coverage

[cspu]

My 91 Civic Si is worth ~3000 retail (KBB).

If I totaled it today, my insurance company would give me the "book value" for it. If I put $4000 in an engine for it, and it gets stolen, I get "book value" of ~$3000 for $7000 worth of car/engine. I'm hosed for the other $4K!!!

Who do you guys have insurance with to protect the investments you have?

My insurance company (State Farm) doesn't offer any "supplemental" coverage for modifications, so where can I get some extra coverage if I upgrade the engine?

[90CRXZCSi]

Welcome to AF. First of all..your not going to get money for anything you didnt tell them about.(ie: if you didnt tell them about NOS lets say then if it gets stolen then they say "oh well")
So you might want to think about either switching insurance companies OR some people take the risk like me and just tell them my car is stock and i just pray that nothing gets stolen. I only did it to save money on insurance.

[mellowboy]

Yeh they don't pay shit for your aftermarket parts no matter what. Maybe the rims and sound system but i'm not sure on that yet. IF it happens at your home than u can probably get money for the aftermarket parts...home insurance. I think ..i'm not sure though.

[marked001]

nope, they dont pay for aftermarket stuff....trust me. I got like $80 for my 2 month old wheels/tires when they were calculating the value of my car...

[velocitySiR]

i pay $1300 every 6 months thru progressive and they'll cover an additional $1000 worth of custom equipment.

[Marc-OS]

Originally posted by velocitySiR
i pay $1300 every 6 months thru progressive and they'll cover an additional $1000 worth of custom equipment.

Are you under 25 years old?

[velocitySiR]

i'm 19.... yah it sucks ass, after 3 years in ny you aren't considered an unasigned risk anymore or some shit.... then at 25 it goes down to nothin. but my record is clean.

[CRXsearch'n]

My car was stolen and recovered but a total loss. State Farm paid me MORE than what I could have sold it for before the theft. I got $10,000 when book value was more like $6900!!! The trick was that I saved and presented EVERY receipt, including oil changes so that they could knew it was in premo condition. I submitted “before” pictures and thorough documentation making it easy for them to see how much $ I really had into it. Hell…they even reimbursed me for license plates and smog renewal! Funny thing is that my policy also stated that they would not cover more than $1000 in mods… but they did.

The whole process was not really smooth however. My case got transferred to a “specialist” due to the unique ‘butcher job’ the chop shop did. It took more than a month to settle, but well worth the wait. If you have documentation of what you have into your car then I wouldn’t accept the settlement. You are entitled to get an independent appraisal and submit it. State Farm uses independent appraisers as well… but you know who is paying them. Good luck.

Check out my pics (and part Two to my story):

http://powerlock.com/theft1.htm