How much is covered insurance if you wreck a modified M3?

[Techjunkie666]

I purchased a CPO E90 M3 a month ago and starter doing some mods. Cosmetic mods are done for now and plan on doing some performance mod but I was wondering..

Lets say I have spend around 30K or so in mods and I get into a wreck. Will insurance pay only to get the car back to stock or will they pay for all the mods too? (aftermarket bumper, grilles, wheels, supercharger etc?)

Just trying to get a feel for what others do to "protect" the investement put into the cars

[RBB]

It depends on your insurance company. You should give your agent a call and ask. I use State Farm and mods are covered. I just make sure I save my receipts.

[Techjunkie666]

I might give him a call today. So you just end up paying your deductible and they will cover all the expenses to get the car back the way it was? That's exactly what I was looking for. Thanks!

[dmw16]

It depends on your insurance company. My general assumption is if they don't know about it then they probably aren't covering it. At the very least I'd save receipts but the prudent thing to do if you have serious money in the car is to call your agent.

Originally Posted by Techjunkie666

I might give him a call today. So you just end up paying your deductible and they will cover all the expenses to get the car back the way it was? That's exactly what I was looking for. Thanks!

You'd only have to pay your deductible, but be prepared for them to tell you your 6-month premiums are going up.

[gottagofast13]

To make sure your mods are covered, I'd suggest finding a company that will write an "Agreed Value" policy for you. In this case, you're basically agreeing to a value with the insurance company that will be paid to you in the case of a total loss.

State Farm will probably cover your mods (if they endorse/change the policy) but I would guess that it will be on an ACV (Actual Cash Value)/depreciated basis. That might be fine for you, but make sure to ask these questions so you know what you're buying.

Hope that helps!

[Parrots]

I will have to take all the mods off my car. The insurance goes up by £8k even if i have a spoiler on it and some companies wont even insure with any mods.

[Endless619]

Originally Posted by Techjunkie666

I purchased a CPO E90 M3 a month ago and starter doing some mods. Cosmetic mods are done for now and plan on doing some performance mod but I was wondering..

Lets say I have spend around 30K or so in mods and I get into a wreck. Will insurance pay only to get the car back to stock or will they pay for all the mods too? (aftermarket bumper, grilles, wheels, supercharger etc?)

Just trying to get a feel for what others do to "protect" the investement put into the cars

Your insurance company are only authorized to bring your vehicle back to stock/OEM trim UNLESS you purchase aftermarket parts insurance. Geico offers this. It has to be specific and in writing on your policy.

[Vic311]

My understanding is they have to also do a physical inspection of the car before they add any mods to the underlying policy but even then I don't think you are fully reimbursed.

Allstate fully reimbursed me for aftermarket wheels when I totalled a car once.

[FVM3]

It depends. Ask your insurance agent is the best way to go

[mjposner]

when my car was totalled i spent several hours removing the cosmetic mods from the car, later resold them on ebay.

[GOLFFRR]

like others have suggested, talk to your insurance agent. Your basic coverage that you sign up for will not cover mods from what I know. You will need to negotiate that with the agent. Basically they will ask you what you value your mods at and then they will adjust your premiums off that.

I had a set of wheels and stereo equipment covered on one of my cars a long time ago and my insurance barely went up at all.

[Chicken Little]

Originally Posted by RBB

It depends on your insurance company. You should give your agent a call and ask. I use State Farm and mods are covered. I just make sure I save my receipts.

+1 ^

[Someone?]

You can call other companies that can sell you some kinda Gap insurance.

[Grail05]

I have statefarm and it covers everything even mods.. just keep your receipt.

[jeff4598]

My concern is the possibility that ANY mods will cause the insurance to refuse to pay ANY claims(on the car/ the other car in the accident /injuries) if they feel the mods decreased safety(reflector delete) or increase performance without giving them the chance to "re-rate" the higher performance version. I think you are worrying re the wrong thing.

[Techjunkie666]

Originally Posted by jeff4598

My concern is the possibility that ANY mods will cause the insurance to refuse to pay ANY claims(on the car/ the other car in the accident /injuries) if they feel the mods decreased safety(reflector delete) or increase performance without giving them the chance to "re-rate" the higher performance version. I think you are worrying re the wrong thing.

Hmm.. I think you have a point. I will be calling my agent today.. Thanks