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info for heavily modded Avs (insurance)

grnxnam

grnxnam

SM 2006
Full Member
Joined
Oct 6, 2004
Messages
13,857
Been working with my insurance to add all of my toys to my policy.  They took the pics and I've been gathering reciepts and getting replacement estimates for the pieces I can't get receipts for.


long story short, the added insurance is fairly cheap.  I think its working out to about $10 a month for every $10K of additional coverage.  I'm sure some of it would be covered under my regular policy, but I didn't want to take any chances any longer.

Soooo... if you have lots of go fast parts or lots of money invested (if you could even call it an investment) in your Av, you might want to consider this.
 
I did this about 3 years ago. After the paint, drop, wheels, headers, etc... never mind the Whipple and audio equipment... I knew that the 'book value' that would be paid out would not even start to get me back to where I was.
 
Depending on your carrier, if you maintain receipts and the like, you aren't limited to "book value" when filing a claim, IF you can show the value of the modifications.

However, some carriers are equally evil, and if you weren't paying premiums commensurate with their exposure, they may in fact find reason to deny your claim entirely.

Main point - read your policy, discuss with your agent, check local laws.
 
DougD said:
Depending on your carrier, if you maintain receipts and the like, you aren't limited to "book value" when filing a claim, IF you can show the value of the modifications.

However, some carriers are equally evil, and if you weren't paying premiums commensurate with their exposure, they may in fact find reason to deny your claim entirely.

Main point - read your policy, discuss with your agent, check local laws.
Click to expand...
good advice
 
grnxnam said:
Been working with my insurance to add all of my toys to my policy.? They took the pics and I've been gathering reciepts and getting replacement estimates for the pieces I can't get receipts for.


long story short, the added insurance is fairly cheap.? I think its working out to about $10 a month for every $10K of additional coverage.? I'm sure some of it would be covered under my regular policy, but I didn't want to take any chances any longer.

Soooo... if you have lots of go fast parts or lots of money invested (if you could even call it an investment) in your Av, you might want to consider this.
Click to expand...

Definitely good advice B.
Luckily my insurance is covering everything that was stolen out my Av recently.
They also recommend this kind of additional coverage if I get any more stuff installed.

Vetman
 
the sad part is that due to depreciation and wear and tear... you never recoup all your "investment....

the problem with toys is that they are REALLY for your enjoyment... never recover them when we sell or have and accident...

good advice to check with your carrier and local laws
 
danlwil said:
the sad part is that due to depreciation and wear and tear... you never recoup all your "investment....

the problem with toys is that they are REALLY for your enjoyment... never recover them when we sell or have and accident...

good advice to check with your carrier and local laws
Click to expand...
if i got back 35% of what I have invested, i could pay off my Cavalier.  I'd be happy with that.  I have gap insurance to cover the Av and if they only pay partial, then I'm ok with that.  My main reason just in case I have an accident and they only want to return it to stock, I have a lil back up to show that it wasn't stock.
 
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