Telling your insurance company all the mods you have made ?

[lavapearl]

By law, do you have to tell your insurance company all the mods you have made and will your premium go up ? What if you don't tell them and something happens like the car getting stolen, will they replace the parts if you have the receipt for all those mods ?

[fastTa]

What goes around comes around. I live by that rule.

[Jeff_in_Atl]

I asked my insurance company a similar question. I asked them if I could increase the value of my car and pay a higher rate to cover it. They asked why. I said because I have put a ton of money in it and if it were to get wrecked I want to have it insured for what it is worth. They said no unless it's a classic. They then said I could go and get it evaluated by an expert, whoever that is, and bring a written document to them.

I don't think there is a law for it but I changed by old Dodge from a 6 to an 8. It was insured as a 6. I bet that wouldn't go over to well.

Wait for the expert Norm to chime in here.

[Johnyd2]

im under this impression. Say you put a turbo on your t/a. Call up allstate and say "i've got a new turbo on the t/a"! Allstate say's, "here is your new monthly premium, that has increased thrice fold". Since insurance company's base your rates on you car (i.e. thats why they want your VIN) that how you get classified for your premium. However some insurance company's have insurance for aftermarket parts, that usually result in a increase in premium. If the insurance compant doesnt know about a part, for example, and turbo, they will not insure that part, and if they find out on a accident claim they probably will drop you. I really cant stress this enough, becuase ive been looking for insurance, that there are big differnces between different companies.

[Performin Norman]

This is a very sticky situation for customers and agents.

On one side of it, you have someone wanting to make a car very very fast. This STATITICALLY increases the risk of having an accident. Liability and property damage are at stake. Some agents and companies don't want this risk.

Then you have me. I look at the individual, their past history and I base my coverage relative to the risk. I have lots and lots of hot rods insured. Most are exceptional risks and know not to street race. Some just build them for fun and as a hobby. Kind of like me.

On the latter ones, I increase the stated value coverage on their car. It makes very little rate difference as most of them are older and have good standings with me. If one has a bad driving history and is youthful rated, the price goes up accordingly.

[Craig 94 TA GT]

Hey Norm, what happens if you, for instance, don't tell your insurance company about your mods. Then you wreck your car. Once an agent sees all the mods, would they still cover you at least for OEM replacment prices? Or would they not cover because they failed report the mods? - which essentially could possibly increase risk, as you stated earlier.

[Performin Norman]

Hey Norm, what happens if you, for instance, don't tell your insurance company about your mods. Then you wreck your car. Once an agent sees all the mods, would they still cover you at least for OEM replacment prices? Or would they not cover because they failed report the mods? - which essentially could possibly increase risk, as you stated earlier.

In the states I operate in, they would pay for oem items and nothing more. It is written specifically in the policy that anything that alters the value of a vehicle has to be reported to the agent. However, the will not deny the claim. They will just pay as if it were all original. Other states may vary.

[Craig 94 TA GT]

OK, thanks Norm. I was mainly wondering if they'd deny the claim because technically you're paying insurance on a car that's not the same as what you're driving (depending on how much modding, of course).