Friend said i should insure turbo / engine?
05-16-2009, 10:45 AM
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Friend said i should insure turbo / engine?
Hey, im going to order that turbo kit soon, my friend told me i should insure my turbo and engine? But not to tell my car's insurance company as to not raise the rates?
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05-17-2009, 08:22 PM
#9
You can't pull a separate policy for things added to your motor. That's why you have AUTO insurance. You can, however, add additional coverage to it.
What you'll need to do is...
1). After you have the kit installed, keep the invoice.
2). Go to your insurance company and tell him you'd like to add additional coverage for "custom" parts that have been added to the car.
3). Present them with the invoice for these items.
4). They'll then ask you if you want to cover the entire amount or partial (aka kit cost you $10,000 but you want to only insure it for $5,000)
After all that is done, they'll add the extra coverage to your policy and INCASE you ever get in to a major accident where your car is total... they'll give you the coverage for your car + whatever additional coverage you bought MINUS your deductible.
You don't want this happening to you...
...and then having to take a $10,000 bath for not having coverage for the kit.
Yes that's my car and yes I added additional coverage once my car was completed with the modifications. Oh and no, the accident wasn't my fault. haha
In the end, I was was paying an additional $17.39/month for the added "$6,500" kit that was added to the car.
What you'll need to do is...
1). After you have the kit installed, keep the invoice.
2). Go to your insurance company and tell him you'd like to add additional coverage for "custom" parts that have been added to the car.
3). Present them with the invoice for these items.
4). They'll then ask you if you want to cover the entire amount or partial (aka kit cost you $10,000 but you want to only insure it for $5,000)
After all that is done, they'll add the extra coverage to your policy and INCASE you ever get in to a major accident where your car is total... they'll give you the coverage for your car + whatever additional coverage you bought MINUS your deductible.
You don't want this happening to you...
...and then having to take a $10,000 bath for not having coverage for the kit.
Yes that's my car and yes I added additional coverage once my car was completed with the modifications. Oh and no, the accident wasn't my fault. haha
In the end, I was was paying an additional $17.39/month for the added "$6,500" kit that was added to the car.
05-21-2009, 08:31 PM
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sorry about that, im in my own little world.
i was referring to the GTM turbo kit, and yes they said get a seprate insurance company to cover my turbo and what not.
i am just reluctant to tell progressive i have made this car much faster. but if i want it covered it would have to increase anyway. i dont get what the big deal is but yea, thats the case.
i was referring to the GTM turbo kit, and yes they said get a seprate insurance company to cover my turbo and what not.
i am just reluctant to tell progressive i have made this car much faster. but if i want it covered it would have to increase anyway. i dont get what the big deal is but yea, thats the case.
05-21-2009, 09:53 PM
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^Try to get a feeler from your insurance agent. Maybe say something like, If I were to put $10K of aftermarket *stuff* on the car, how would that effect my premium if I wanted to add the additional coverage. If she asks what stuff, then say paint job, rims, and such. Ask, if it matters what the stuff is. If she says no, then just say you would like $10K of additional coverage for stuff.
Guess what I'm getting at is don't elude to 'I'm cracking 500rwhp yo' when trying to enquire on you policy.
Guess what I'm getting at is don't elude to 'I'm cracking 500rwhp yo' when trying to enquire on you policy.
05-22-2009, 09:29 AM
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Remember that the replacement value of your car is one of the biggest factors in the base cost of your insurance. When you increase that by 11K they will increase your premium to reflect that, just as if you had purchased a 50K car instead of a 40K car.