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Do any of you guys insure your mods?

SnailPower

SnailPower

Autocross Newbie
Curious to know because obviously mods on this car are expensive. Have any of you included a rough estimate of your mods total with your insurance? Obviously this would increase your monthly insurance payment but at the same time, they can reimburse you in the event of an accident for the receipt costs (or something close to it I imagine).

Who does this? Pros, Cons? I use Progressive BTW which allows you to do this in case someone wanted to know.
 
pdan

pdan

Ready to race!
I’ve been recently looking into re-registering my car in Florida and I had to get new insurance, and based on the quotes I got there’s no way I would pay even more money even for mod insurance. But if I had super cheap insurance, I’d probably add a little bit. Not much though.


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sterkrazzy

sterkrazzy

Autocross Champion
I've always just considered mods a loss lol

I don't insure them, I hardly even remove mods before I get rid of a car.
 
ik1015

ik1015

beeee patient ^^
Several years ago, Progressive quoted for covering mods, but not much covered $$$ amount, IIRC.
 
SnailPower

SnailPower

Autocross Newbie
Well I'm just thinking about it since most of my expensive mods are fairly new (K04, intercooler, drop-in disc), and thought, shieeet, if I was in an accident, that's more than 3k worth gone just right there.

I'm currently full coverage and pay around $105 a month.
 
SnailPower

SnailPower

Autocross Newbie
brobst said:
Well seeing as oem parts are basically the same price as aftermarket, I figured it didn't make a difference

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Well I thought they would factor in the value of your car + the cost of the mods which would come out to a heck a lot more back than just the car's worth itself. I mean if my car is worth 12k and I have over 5k in parts, it wouldn't be bad receiving a check for 17+k vs 12k...
 
slowgti08

slowgti08

Ready to race!
brobst said:
Well seeing as oem parts are basically the same price as aftermarket, I figured it didn't make a difference

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In some cases oem is more ... I never thought of insuring mods, as then it begins to discussion on whats their value "used" based on the condition.
 
brobst

brobst

Go Kart Champion
I guess what I meant is, for every mod, you removed some part most of the time. And most oem parts are dumb expensive in retail, which the insurance would go by. Happened to my dad once, car was rear ended amd damaged the catback. The insurance company was gonna replace with oem catback. He instead asked them to cut him a check and bought am aftermarket one.
So the IC, k04, etc mostly can be replaced by the cost of oem parts. Plus you probably still have the original parts in your posession

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DASVDUB

DASVDUB

Drag Racing Champion
brobst said:
I guess what I meant is, for every mod, you removed some part most of the time. And most oem parts are dumb expensive in retail, which the insurance would go by. Happened to my dad once, car was rear ended amd damaged the catback. The insurance company was gonna replace with oem catback. He instead asked them to cut him a check and bought am aftermarket one.
So the IC, k04, etc mostly can be replaced by the cost of oem parts. Plus you probably still have the original parts in your posession

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^^Bingo.
 
slowgti08

slowgti08

Ready to race!
brobst said:
I guess what I meant is, for every mod, you removed some part most of the time. And most oem parts are dumb expensive in retail, which the insurance would go by. Happened to my dad once, car was rear ended amd damaged the catback. The insurance company was gonna replace with oem catback. He instead asked them to cut him a check and bought am aftermarket one.
So the IC, k04, etc mostly can be replaced by the cost of oem parts. Plus you probably still have the original parts in your posession


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yup, so in short i dont believe insuring parts is worth it. Unless you have wheels that are worth over 3K or something like that.
 
D

drval85

Go Kart Newbie
Yeah, OEM parts are so expensive even a new set of Detroits would be close to what I paid for my used wheels. I'd just need to track down another set.
 
zef

zef

Drag Racing Champion
I work with Hagerty a lot. You can do an "agreed amount" where you essentially tell the insurance company what you want for the car in case it's totaled. Obviously have to provide receipts and such to prove it's value, but it's more common than you think and it's actually not expensive. Agreed amount is always superior to actual cash value which is basically just blue book. For those of us who have paint jobs, big turbo builds, etc, it's a pretty good investment imo.
 
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GhostGTI1

Banned
For a GTI with bolt ons No. For a very expensive car with a serious build yes. Go fo agreed value with Hagerty and other well known enthusiast companies, never trust regular joe insurance companies such as Geico, Travellers, Allstate etc. They don't give two shits about you or your car/parts.
 
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