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BMW 3-Series (E90 E92) Forum > BMW E90/E92/E93 3-series General Forums > General E90 Sedan / E91 Wagon / E92 Coupe / E93 Cabrio > Insuring Mods



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      09-07-2012, 12:57 PM   #23
ndog14
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Quote:
Originally Posted by Dark_Knight_335 View Post
If you have performance mods, insurer thinks you're a risk. Insurance goes up. Seems like a really bad idea.
Are you saying the increase in insurance is because they think you are "riskier"? I thought OP was talking about actually insuring the mods incase of damage in an accident.
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      09-07-2012, 04:47 PM   #24
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Quote:
Originally Posted by ndog14
Quote:
Originally Posted by Dark_Knight_335 View Post
If you have performance mods, insurer thinks you're a risk. Insurance goes up. Seems like a really bad idea.
Are you saying the increase in insurance is because they think you are "riskier"? I thought OP was talking about actually insuring the mods incase of damage in an accident.
It would seem implied, if I were an agent, but that too.
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      09-07-2012, 05:01 PM   #25
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Quote:
Originally Posted by ndog14 View Post
Are you saying the increase in insurance is because they think you are "riskier"? I thought OP was talking about actually insuring the mods incase of damage in an accident.
Damaged, stolen, accident, or if the car gets totaled out from a future hail storm. They can not legally increase a premium based on performance mods done to your car (I also heard that from a friend who works at a major car insurance company) Besides what percentage would they increase it, do they just make up a number????
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      09-07-2012, 11:29 PM   #26
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Originally Posted by DUI Elite View Post
Does State Farm do this?
My State Farm rep advised me just to have all receipts for all mods, wheels etc., and they'll reimburse me every penny should anything happen.

But it seems everytime these threads pop up, people with the same insurance companies always seem to report different policies
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      09-08-2012, 01:49 AM   #27
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I checked into this and it turns out my standard Progressive policy includes $5000 worth of aftermarket parts coverage. You can extend it up to a max of $15k for a few extra bucks a month. I didn't bother to add it, but I think it was like $15 a month tops. The only way I'd lose more than $5k worth of aftermarket stuff would be in the car was totalled, in which case I wouldn't really care anyway.
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      09-08-2012, 02:50 AM   #28
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I'm insured through USAA... same coverage as above: includes up to $5000 in modifications automatically. ^__^

sidenote, i pay $125/mos for insurance... so it's pretty good having a clean driving record and awesome credit - have to say.
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      09-08-2012, 11:22 AM   #29
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I insure with USAA and did not have to add additional coverage for aftermarket parts so long as the cumulative total does not exceed $5,000 in the event of a total loss. That's what they say at least. I've fortunately never had to test this theory.

If you've seen my "pothole death" thread though, you'll know I'm about to get my two trashed forgestar f14's and pilot supersports covered under a collision claim, so we'll see how that goes.

EDIT: Didn't read all the responses. Seems I'm not the only one.
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      10-03-2012, 06:17 PM   #30
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Make sure you get quotes from Amica and Allied. I can't remember the details, but I spoke to an underwriter at Amica about my mods; I wanted coverage for $5k in aftermarket parts. I'm covered. I also mentioned my track events. No coverage, but no increase in rates. The personal lines guy in my office can shop you around to 5-10 carriers if you like (limited depending on your state, CA, NV, AZ ok). He's a broker for joe six-pack all the way up to a couple billionaires. PM me for contact info.

FWIW,
We are dealing with a guy that got T-boned by a kid on a motorcycle doing 70mph in a 35 zone. Somehow the kid lived and by week 3 the bills were at $750k (don't ask me how). The driver had pulled into the motorcyclist's lane as he was exiting a driveway, so there is partial fault. If you think $500k is a good coverage limit, I'd disagree, especially here in CA.

Me: independent commercial insurance agent.

I pay via Amica:
$1650/yr $1M comp/coll coverage
'08 335xi
perfect credit
t-boned in 2009 ($27k damage) with Amica.
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