Trifecta tune and auto insurance.

[p.r]

My auto insurance provider asked me when I purchased the vehicle if I had any modifications such as intake, exhaust, or computer software changes. Did any of you let your insurance company know so they could charge you a few extra hundred dollars per year?

Really, the only time I can see them actually checking into this is if you were involved in a high speed accident.

Thoughts?

 

[oomonte]

what they don't know won't hurt them...

my insurance company did'nt ask for any mods..

 

[Boosted]

Mine didn't either, what insurance company do you have?

 

[Stereodude]

I hoped you laughed and told them it was a Buick.

 

[Stereodude]

Really, the only time I can see them actually checking into this is if you were involved in a high speed accident.

Thoughts?

I'm sure this is their way of grouping people who have made such modifications into a higher risk pool and charging you more.

Everyone knows that people who modify their car to be faster drive more aggressively and therefore are worse drivers more likely to get in accidents.

 

[GottWhat]

Also, sometimes they want to know if you have aftermarket accessories so they can add additional coverage to pay for the accessories if damaged/stolen..

 

[RegalTurbo]

The reason they asked that question is because if you had heavy modifications done to the vehicle and did not provide appraisal's for the modifications, in the event of an accident the insurance company is only going buy you a stock regal, not one with a trifecta tune etc..

 

[Power Sedan]

I've never heard of this before, as far as I was concerned any aftermarket modification applied to my vehicles was my loss, in case of an accident.

 

[RegalTurbo]

I've never heard of this before, as far as I was concerned any aftermarket modification applied to my vehicles was my loss, in case of an accident.

This is correct. Most people are unaware that insurance won't cover alterations, modifications, or customizations. That's why he asked about them. He probably just wanted to know if you might need a more specialized coverage or if you wanted to have those modifications covered.

 

[mmadden2]

What about things like dealer installed accessories... wings, mud flaps, illuminated door sills, trunk tray, is that stuff covered in a crash? What about my tint? 😕

 

[RegalTurbo]

Just in case there is any confusion let me clarify.

Basically, Insurance companies determine the rates they are going to charge for a stock vehicle. Not a vehicle with modifications.

So, for example, lets say Billy has a truck that has a huge set of rims and tires on it, a big lift kit, upgraded suspension components, etc... Well if Billy wanted that vehicle insured properly he would have to provide appraisals for those mods so the insurance company can adjust his rate based on those mods. If Billy did not provide appraisals and he wrote the truck off, the insurance company is only going to indemnify him with the stock version of that truck because the rate they were charging was for a stock truck.

It's completely up to the Insured to decide if he wants to insure those modifications or not, but the insurance agent or broker still needs to ask because if they don't and the Insured did not know there were more specialized coverages for those modifications and writes the vehicle off, he could sue the broker or agent and make them pay for the parts of the vehicle that weren't covered.

I hope this helps fellas, and I hope my attempt of explaining this wasn't confusing either.

 

[RegalTurbo]

Also, if you have any other insurance related questions I can try and help answer for you.

 

[mmadden2]

So... if it's totaled I only get the base price of my car (unless otherwise prearranged). Then I sure hope I'm allowed to root thru the remains for things that I'm not being reimbursed for. "I'll take this broken wing, this LED cupholder light, this one uncharred mud flap." I mean that only seems fair. I'm joking there but could you pull off any undamaged custom wheels? Might at least be able to get a few bucks for the tires.

 

[Stereodude]

Keep in mind it's largely a scam... For example, you pay extra to cover say $2k in stereo equipment for years. Your car gets totaled and they don't give you $2k for your stereo equipment + payout for the car. Instead they factor in how much a "premium" stereo increases the value of your car and increase your payout by that. Which will be like $150 extra.

 

[mmadden2]

Depending on what it costs it might be worth it. If it's only a couple bucks a year, $150 might be better than nothing. I changed my liability coverage from $500k to a million for like $20 a year. I drive into DC pretty often. It wouldn't be impossible to take out several $100k+ cars all at once on that road. I don't want to be insurance poor but some stuff makes sense if it's cheap enough. Just gotta look at the numbers.

 

[RegalTurbo]

Depending on what it costs it might be worth it. If it's only a couple bucks a year, $150 might be better than nothing. I changed my liability coverage from $500k to a million for like $20 a year. I drive into DC pretty often. It wouldn't be impossible to take out several $100k+ cars all at once on that road. I don't want to be insurance poor but some stuff makes sense if it's cheap enough. Just gotta look at the numbers.

Liability coverage doesn't cover the physical damage you do to other vehicles. Liability covers you in the event someone decided they wanted to take you to court and sue you because of the injuries they sustained as a result of the accident you caused. When you really think about it, is 1 Million still enough? If you hit a brain surgeon and his hands get messed up and he can't continue to do his job because of those injuries that 1 Million isn't gonna last very long and anything above and beyond that 1 Million is coming out of your pockets. Scary when you really think about it!

 

[mmadden2]

I'm no insurance agent, but I did stay at a Holiday Inn Express last night...

 

[RegalTurbo]

I'm no insurance agent, but I did stay at a Holiday Inn Express last night...

Alright, It's a little bit different in the States then it is in Canada and it's different from province to province in Canada too. But I think in the states that will cover the other persons vehicle as well as any other damage caused to any other property. Ex: You hit someone, bounce of him, and take out 3 telephone poles. The telephones poles would be covered under the property damage section of liability and I believe his vehicle would be covered too.

Where I am from, that coverage only covers the light poles and not his vehicle. We have another section on our policies called Direct Compensation Property Damage which will cover the vehicle.

 

[mmadden2]

Ok, well I guess there are differences depending on where you live- my agent tells me to be careful but if take out a couple Jags, so be it.

 

[12GSMN]

I'm no insurance agent, but I did stay at a Holiday Inn Express last night...

Thanks for the laugh!

Funny how the Regal is voted as a top insurance pick for sedans, my previous 09 TSX was not, yet my premium went up $155/year.