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Old 05-13-2010, 07:32 PM   #1
3x Beemer
4th Gear Member
Join Date: Jul 2003
Location: Steel City
Posts: 817
Insurance issues

Here I am 50 plus found my dream car 2005 M3 with tastefull mods ie coil over susp,headers, exhaust, tunng, aftermarket rims and when I mention to my insurance and 4 other insurance companies they will not insure due to mods. Sure I could lie but when time comes when the shit hits the fan claim could be denied.
Is there any insurance companies that will cover a modded car?
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Old 05-14-2010, 11:46 AM   #2
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Call Emina, She can probably help you

Emina Kladnjak
Robyn King State Farm Insurance
202-611 Holly Ave.
Milton, ON
L9T 0K4
Tel.: 905 636 0290
Fax: 905 636 1369
Toll Free: 1 877 888 0998
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Old 05-14-2010, 12:05 PM   #3
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Either you lie, or your broker lies to the insurance company. I'd insure all the shit that they wont care about (rims, body kit) but wouldn't tell them about suspension (they forsure wont insure you if your suspension is slammed) etc.
I run a canadian led kit & hid kit company, if you have any questions about led headlights or hid kits in canada or would like to check out our products please contact me here:

2002 TiAg M3 6mt deoranged, dechromed, led tails, ZHP knob, UUC SS v3, GROM, OEM 220M 19's, Michelin Supersports
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Old 05-14-2010, 12:06 PM   #4
Bullet Ride
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I find it rediculous that given the size of the aftermarket parts industry that so many insurance companies won't touch cars that are "modded". The car just needs to be saftied and apraised and then insured for that value, it shouldn't be that big of a deal.
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Old 05-14-2010, 02:07 PM   #5
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Its the mentality of insurance companies and even cops...that all modded cars are for speed...
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Old 05-14-2010, 06:28 PM   #6
3x Beemer
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Location: Steel City
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I am truely pissed. I have spoken with brokers, independent insurance companies and they all have bluntly said no policy on modded cars. By mods they say anything other than factory. Why even have insurance They have made it so that one would not dare make a claim unless it is over $5000.
Can only imagine if they pull this BS on house insurance. How would Home Depot, Rona, Lowes stay in business if you could not better your house.
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Old 05-14-2010, 07:56 PM   #7
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Seems pretty strange.. I had insurance with my modded car =\ it most had 3grand in stereo I wanted on it and also some rims and some little engine details. I went with my parents broker in Oshawa. Roughly Insurance Broker. Got me cheep insurance with some company out in kitchener.
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Old 05-17-2010, 12:10 PM   #8
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Stereo equipment usually isn't an issue. The Ontario policy wording includes $1500 of coverage for non-factory installed electronic accessories & equipment. If that is not enough coverage, you can also endorse your policy to accommodate the additional value. (OPCF 38 - agreed limit for electronic accessories & equipment).

Rims generally aren't too much trouble either. If they are expensive, they may bump up the rate group for your car to compensate for the additional value or request a higher deductible. There is no OPCF endorsement specific to rims, but they have to be declared to be covered.

Things that dramatically affect the power of the car are where you run into issues (more expensive premiums): Turbos, superchargers, engine swaps etc...

There are gray areas:
Computer tuning - Think of all those guys with pick-up trucks running a "Bully Dog" or other "plug-n-play" performance hardware.
Upgrades with OEM parts from other models (ie; cams, manifolds)
Minor performance upgrades - exhaust, intake, headers

Each company has their own position on these. There is some room for discussion, but you have to know who to talk to.

Any Broker, Agent, CSR, etc.. who just plainly says "no, sorry. Can't do a modded car" is either ignorant, or most likely just isn't willing to take the time to gather the necessary additional info and make a few extra phone calls on your behalf.

I have yet to find a car to which all of my companies say, "nope, that car is uninsurable.".

Modding cars is NOT a cheap hobby and it is NOT cheap to insure them either. If you have a supercharged M3 with every performance part available on it, don't expect to pay the same premium as your friend with a stock one. However, insurance is ALWAYS attainable.

1998 328ic - Sold
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