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Old 12-07-2010, 04:54 PM   #46
MGYVER
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ps. I can only wish for your idea of one policy for a driver with multiple cars. After all, I can only drive one car at a time, so why should I pay insurance as if I was driving them all at the SAME time?? Too bad the insurance companies don't see it that way.
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Old 12-07-2010, 06:45 PM   #47
e36rok
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Quote:
Originally Posted by MGYVER View Post
Actually getting an appraisal is in your benefit. It allows you to tell the insurance company every single mod that you have spent money on in your car. Once you have the appraisal and have an agreed upon value, then there is no debate if you total the car.

ie. You get an appraisal on your 1987 E30 with all your stereo, suspension, wheels, paint, custom interior for $15,000.
If you total the car, you get a check for $15,000 with no hassle, no fight, no debate. The appraisal is there to protect you.

Also, with regards to modifications, you can always get a car insured, it will just be through "facility" insurance. (ie. the insurance that repeat drunk drivers have to pay) My fully gutted, caged, rally car is insured for the street this way. The rates may seem high but if you are only driving the car in the summer, and you take off all the insurance (except fire and theft) during the winter months, it's not that bad. Plus you have the peace of mind knowing that everything is "above board" so you don't have to worry if something happens.

I know that if most people have an accident, they probably would not make a claim anyway and just pay out of pocket to avoid further rate increases, but what if your car gets stolen? That's a big loss to just chalk up to "bad luck". At least with a fully appraised vehicle you will get back a good portion of what you put into your car.

Food for thought.
Did that an hour ago... we'll see what the asshole wants to fix his Grand Caravan bumper.
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Old 12-07-2010, 06:50 PM   #48
e36rok
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Quote:
Originally Posted by MGYVER View Post
ps. I can only wish for your idea of one policy for a driver with multiple cars. After all, I can only drive one car at a time, so why should I pay insurance as if I was driving them all at the SAME time?? Too bad the insurance companies don't see it that way.
When I lived in Belgium in 90-95 you didn't need insurance, and if you actually had it, the entire policy increased only 10% for each car added.

People also weren't so hungry to sue after every oportunity back then, and back there... America has redefined the lawsuit in the last two decades and that's why we have insurance for everything now. If insurance companies threw out half of the phony back injury claims our premiums would be somewhat sane, but who wants that?
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Old 05-03-2011, 08:59 PM   #49
BMWdouche
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If I want to put aftermarket suspension and rims.. will THAT "void" my insurance coverage as well???
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Old 05-04-2011, 12:37 AM   #50
vVicked
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Whoa bringing back an old topic, but after reading there is some very useful information here. I'm glad we have such resources!

To the bringer back of an old topic, your question was answered in this very thread just have a little read.
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Old 05-04-2011, 09:56 AM   #51
mclovin
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Hockeyfan, plz clear ur private messages. Trying to send you one for a quote but it says you exceeded your limit.
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Old 05-04-2011, 02:15 PM   #52
rider-.
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ok now i have a question, when would an insurance company ever investigate if ur motor had modifications, like if u installed a m54b30 in the place of an m54b25, there is no visable way to check the motor other then the vin number which is not visable.
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Old 05-05-2011, 09:26 AM   #53
hockeyfan27
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I'd say a theft recovery is your most likely instance. If by way of a collision, you seriously injured someone and were being sued to/beyond the extent of your policy limits they may go over the car with a microscope.
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Old 09-01-2014, 05:45 PM   #54
partner103
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I am bringing this back from the dead. Need some help and I also sent a PM to hockeyfan27.

Got a '91 318i sedan, VERY good shape (in and out). Have insurance on it with CAA, but I have been told they aren't covering 'modified' vehicles. Once my M42 runs out, I will most likely will add an M52B28 in. So that's going from 1.8 to 2.5 litres.

Now I need to find a company that will cover these with a mature driver, clean record and have a daily driver (E30 is winter stored). Any help is appreciated as I don't want to sell the E30, BUT I DO want to get my value back in case anything happens to my son's future car
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Old 09-10-2014, 07:20 PM   #55
ericdalinda
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I just wish auto insurance wasnt regulated to protect people from insurance companies..

ever had an accident before which was at fault? sorry go find another company.
ever had a major traffic violation? sorry go find another company.
driving a vehicle that is not a 5 star saftey rating? sorry go find another company.
you drive a honda civic or toyota corolla? sorry go find another company.
recently landed immigrant? go find another company.
you didnt graduate highschool? go find another company
you didnt go to post secondary school or dont currently work for a reputable employer such as rogers,bell,honda manufacturing etc. go find another company.

if it was unregulated people with clean driving records with no accidents no tickets no nothing and absolutely SUPERB risks would pay next to nothing!. maybe 300-500 dollars to year maybe a ton less!


problem is,, no company would ever touch you EVER again if you had one little slip up one day... for example how cut throat companies would get "you rear ended someone when it was the middle of the blizzard? why were you driving? you know we dont cover you when there is more then 10cm of snowfall in a 6 hour period. claim denied"

its good and bad, that it is HEAVILY regulated by the ontario goverment, because if it wasnt? oh damn companies wouldnt touch a large portion of drivers on this forum. because it is, everyone has access to insurance in ontario.


problem is currently, drivers with at fault accidents are not paying MASSIVE amounts for insurance.. currently if your at fault for a claim that gets filed and total damages are in the $450k region your premium next year will go up by 400 dollars per year on average and hurt everyone that resides around you due to territory rating. thats bull shit... i believe you should pay 4 times your annual for years on end until the accident falls off your record after 10 years.

but right now someone could theoritically cause 3 accidents in 1 year with damages totalling MILLIONS of dollars in damages for liability. and potentially still pay less then 10k a year depending on the area they reside... THAT.. is bullshit.

Last edited by ericdalinda; 09-10-2014 at 07:22 PM.
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