Ferocity02

iTrader: (59)

Do you guys have extra coverage for your aftermarket parts on your truck? Is that even possible? I'm worried about putting all of this money into the truck (about the same amount as its blue book value or more), and getting into an accident where the truck is totaled. Correct me if I'm wrong, but the insurance only gives you back what the truck is worth, correct? Or will they take into consideration aftermarket parts?

This happened to my brother when he totaled his Cobra when some moron cut him off. He had a few thousand dollars of aftermarket parts on it. I think the insurance company let him go to the yard and pull off some things, but he lost most of it.

Anyone have any thoughts on this? Experiences? I'm a decent driver but can't say the same for some people out there

VegasJ

iTrader: (1)

most insurances say they won't cover aftermarket products, period.

some will say, "if it is bolted to the vehicle, then it is part of the vehicle"

but all will argue with you about it when the price tag of replacing stolen or damaged parts gets up there because they are in business to make money.

My policy is one that they say covers bolted onto the vehicle, but they also offer an added coverage of up to $5,000 for non-factory items... which I have add.



I'm not really sure for a totaled out accident. I think they just do low blue book value.

RacinRust

I went through this a few years back. Save ALL your receipts and keep photo records. This gives you good documentation to negotiate "a fair and equitable settlement" for both parties. Unless its your insurance provider, read your entire policy carefully you may have to add additional coverage for "agreed value" as Vegas has done. I know reading these things is like a kick in the nuts but you need to know what the policy will do for you. If your current provider will not accommodate these additions then you'll have to go insurance shopping.

1989k1500

iTrader: (23)

I've never had any extra insurance but when my truck is back on the road I probably will add some kind of extra coverage incase something happens to the truck.

Should get retail value, which is higher than what you could ever sell it for.

330oldsmobile

In most cases with my insurance anyway no matter if its appearence or other work they will not get you the same stuff if it costs more then the actual gm part or you will have to find the parts on your own since most companies will not deal with aftermarket stuff (unless its cheaper for them in the long run). With my insurace with all this stuff you must purchase a rider and have a list with serial numbers and descriptions and a total price of everything which will also cause an hike in price especially if there high performance parts (Turbos and such)
Zack

1994Vmax

iTrader: (4)

Do a buyback on it and part it out. Unless its a fire you will make money on the vehicle doing this. You will never get back what you invest though, ever. If that bothers you don't modify a vehicle...... And always, always remember. A vehicle is a depreciating liability and in no way an asset to you....... Unless it's like my 05 where it makes more money in a month than most of my friends do..... Lol.

Budakane

My wife did this for me, she provided all receipts for all my aftermarket parkt,and we pay a lil more for coverage on those items, def look into it,

texasglock23

iTrader: (1)

Some companies do not allow "buy-backs" USAA told me no on both my Trans Am and Corolla

1FastBrick

iTrader: (17)

Get a new insurance company... LOL

Unless it's completely destroyed, I have bought them back in the past and even repaired them. As mentioned there worth more in parts and the buy back is usually fairly cheap.

VegasJ

iTrader: (1)

damn. That's who I have... didn't know they don't allow them.


Seriously? F that. I've had Statefarm, Allstate, AAA, & Nationwide before going to USAA.

Now my banking, investments, & all insurance is with them.

I'll never leave USAA. They rock.


Oh, and last accident they were determining on whether to total it or not. Truck was drivable & at my house. Not like they wouldn't have known if I started pulling off stuff... but I know this won't be an option in all circumstances.