I have an integra, blue book said it does not worth that much $5k, but I do have a lot of after market parts on it about $3k +. I was wonder if somebody hit me will there insurance paid the $5k or will tey pay $8k. In short will insurance take aftermarket mod in to account when they write out check.
2006-08-12 20:21:51 · 6 answers · asked by u2thai562 2 in Cars & Transportation ➔ Insurance & Registration
No.
Insurance will usually allow for things that INCREASE value, custom body panels, lowered suspension and twenty inch chrome wheels decrease market value (market value = what the market will pay you if you sold your car). Example: you crushed $10,000.00 worth of diamonds, mixed them in some paint and sprayed it on your car -- it is NOT worth an extra $10,000.00 to anyone. You may be able to up your coverage under a customizing clause/rider but cost may not be worth the extra premiums.
2006-08-13 14:28:21 · answer #1 · answered by Anonymous · 0⤊ 0⤋
After market part will rise your car worth. If like a guy name Joey got a 92 civic all modded and total it, insurance will pay only the kelly blue book price. If car is running and Joey didn't total it, He could sell it with the kelly blue book price plus the after market parts. My friend got a 91 integra with bride seats, pioneer deck and speakers, Aem intake, turbo kit, body kit, custom type-R yellow paint, and much more. He sold that car for a good 8k. But insurance wil go up if they know you suit up your car but they won't know unless u told them.
DON'T WORRY, THE COOL THING IS: you can buy the total car back at a much lower price than they give u you check. Let say soemone totaled a 91 acura legend (worth 1.5k), Insurance will pay around 1.3k. you could pay 700 dollar to buy the whole car back, cool EH!!!! that's right. it's not bs, it happens cause they consider it as junk yard car. Then u could fix it, or part the car out and sell it all by yourself and amke some money off the stock and the after market part.
2006-08-13 03:59:38 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Normally they won't pay for expensive after market parts. Most insurance companies will provide additional coverage for custom accessories for an additional premium charge. That's for your policy.
If someone should hit you and be deemed at fault, then their insurance company should pay the adjusted value of your car including any custom accessories that are damaged. You may have to fight for this, though.
The best way to cover yourself is to pay the added premium to your insurance company. If you have an accident, file the claim with your own insurance and let the insurance companies fight it out amongst themselves. If the other driver is deemed at fault, it won't affect your rates.
2006-08-13 03:38:19 · answer #3 · answered by Bostonian In MO 7 · 0⤊ 0⤋
Only the value of the car. You are lucky if you get that in a case of a accident.
2006-08-13 03:30:47 · answer #4 · answered by fem40_98 4 · 0⤊ 0⤋
Im sure they will only pay the value of the car.They dont care how much money you have in it
2006-08-13 03:25:41 · answer #5 · answered by Anonymous · 0⤊ 0⤋
i dont think they will normally..i think you need to call your insurance company and tell them your car is modified and have receipts for parts..and they may want to see the car.
2006-08-13 03:24:24 · answer #6 · answered by Uncle Salty 3 · 0⤊ 0⤋