Click to go to Forum Home Click to go to maXbimmer Home

Go Back   maXbimmer Forums > General > General Discussion
User Name
Password


Welcome to Maxbimmer.com!

You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today!

Reply
 
Thread Tools Rate Thread Display Modes
Old 05-13-2010, 07:32 PM   #1
3x Beemer
4th Gear Member
 
Join Date: Jul 2003
Location: Steel City
Posts: 770
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?
3x Beemer is offline   Reply With Quote
Old 05-14-2010, 11:46 AM   #2
diezel06turk
4th Gear Member
 
diezel06turk's Avatar
 
Join Date: Oct 2006
Location: sauga
Posts: 689
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
diezel06turk is offline   Reply With Quote
Old 05-14-2010, 12:05 PM   #3
propr'one
op sucks cock
 
propr'one's Avatar
 
Join Date: Jun 2004
Location: T.
Posts: 17,694
Send a message via MSN to propr'one
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.
__________________
d1s bulb canada

Hot: 2001 Estoril M RoadsterZCP 19's michelin supersports, ZHP knob, JL 8W3
Cold: 2002 TiAg M3 6mt ZCP 19's michelin supersports, deoranged, dechromed, led tails, ZHP knob, UUC SS v3, GROM, OEM 18's w310's,
hid headlights hid kit
propr'one is offline   Reply With Quote
Old 05-14-2010, 12:06 PM   #4
Bullet Ride
Cars in Perpetual Repair
 
Bullet Ride's Avatar
 
Join Date: Nov 2007
Location: Guelph
Posts: 5,733
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.
__________________
Bullet Ride is online now   Reply With Quote
Old 05-14-2010, 02:07 PM   #5
damameke
6th Gear Member
 
Join Date: Dec 2008
Location: Canada
Posts: 1,371
Its the mentality of insurance companies and even cops...that all modded cars are for speed...
damameke is online now   Reply With Quote
Old 05-14-2010, 06:28 PM   #6
3x Beemer
4th Gear Member
 
Join Date: Jul 2003
Location: Steel City
Posts: 770
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.
3x Beemer is offline   Reply With Quote
Old 05-14-2010, 07:56 PM   #7
HavocSteve
6th Gear Member
 
Join Date: Apr 2010
Location: Ottawa
Posts: 1,831
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.
__________________
HavocSteve is offline   Reply With Quote
Old 05-17-2010, 12:10 PM   #8
hockeyfan27
5th Gear Member
 
hockeyfan27's Avatar
 
Join Date: Jul 2009
Location: Durham Region
Posts: 919
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.
Suspension
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
hockeyfan27 is offline   Reply With Quote
Reply

Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On

Forum Jump


All times are GMT -4. The time now is 12:56 PM.


Powered by vBulletin® Version 3.8.1
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.