Insurance & Modifications?
 

If there's already a post on this can someone point me to it? I couldn't find one.

What insurance implications do I have to worry about when modding my car? I plan on installing a short shifter soon, but i've been warned that I need to inform my insurance company of all mods, and that it would probably raise my rates?!!?

Do I have to inform my insurance everytime I make a modifcation? Is it only for mechanical parts? If I put on new rims, and didn't want to insure the rims themselves, would I have to report it to my insurance?

I really want to customize this car, but my rates are high enough as it is....

-Sp

I was wondering if modding a car could actually LOWER insurance rates. For example, an upgraded suspension would improve handling and a big brake kit would improve stopping ability. These would both add to the safety characteristics of the vehicle. Just wondering if insurance companies view this same idea from the perspective that I do. :confused:

I wouldn't try to let the insurance knows... for example, if you tell them you got turbos - it ain't gonna be a pretty amount of how high it will be.... i think it's safe to keep mouth shut. that's what i do.

I doubt they would see it in that light gcs. Speaking only for myself, the more mods I put on my car, the harder I drive it. When I get my suspension modded, my car will have better handling, but I'll definitely be taking corners faster, negating any safety benefit... and the insurance company knows it.

If an individual is going to spend thousands of dollars on increasing the performance of their car and not use it, that's a pretty big waste of money. You might as well buy a big-a$$ wing for the back... I will have to point and laugh at you though.

they will not lower the insurance because you will drive harder and stop later with those mods.

people will run into your rear often if you stop faster than they can :D

and let the insurance company know of any huge mod you do like a turbo or they might not cover you

So if it's a big mod like a turbo you'd have to tell the insurance company, otherwise if you wreck the car they'll have a real good reason not to cover any of it. That makes sense.

But for something fairly harmless such as a short shifter, I should be okay? Even if they consider it a 'racing mod', I don't think they could really do anything unless I make a claim for damage due to racing.

But then again I don't really know what the laws say.....

-Sp

perhaps, but still it is making the car safer nontheless in my opinion because you have the availability. plus, I'm not always in the spirited mood, sometimes I'm just mellow and take it easy.

but then it is the OTHER person's fault, so your brakes just get you some extra money maybe :p

a lot of the small parts would be salvagable if you did wreck. for example, your short shifter is a thick metal rod in the center of the vehicle. if you ruined it, you wouldn't be alive to get reimbursement ;)

I don't think you understand. I don't care about insuring the new modified parts, I could care less if my short shifter breaks and I have to replace it out of pocket.

What i'm concerned about is, if I don't tell my insurance company about a mod, and then I get in an accident, can they refuse or give me a hard time with the settlement because of it?

For instance, if I turbo my car and don't tell them. Then I wreck the car by hitting a wall at 170Mph. Can the insurance company refuse to pay for the damage to the car becuase the accident was caused by a modification they didn't know about? ( I know they wouldn't pay for damage to the turbo).

And lastly. If I do tell my insurance company that i've installed a short shifter, will they raise my rates becasuse it is considered a 'performance' or 'racing modification'?

-Sp

Call them up and ask, don't tell them you did it, just ask what would happen if you did. I doubt they raise your rates for a shorter shifter.


Hold on, strike that. If they DO raise your rates for that get a better insurance carrier.

if you have statefarm, then they will cover your modded part if it replaced the factory part. for instance aftermarket wheels
are covered, your shortshifter is covered, etc. just keep
your receipts.

wat you wanna watch out for is when you change the safety
feature of the car and if you don't have multi-car insurance.

for instance, if you use aftermarket steering wheels w/o
airbag and you have no other cars under your name, you
will have to pay the premium that of a vehicle without an
airbag. if you do have another car covered under an airbag,
then you will still be covered even though you have no airbag.

funny huh? well, that's insurance 101 for ya for IL.