I heard somewhere that if I put an aftermarket stereo into my car(like a new faceplate or Sirius and XM radio) that my insurance will go up. Is this true?(I'm 16 and live in CO, IDK if that matters)
2006-12-04 14:05:07 · 9 answers · asked by crazy8s622 2 in Cars & Transportation ➔ Insurance & Registration
Possibly. In order to make sure the aftermarket stereo etc. is covered you may have to buy a special endorsement for the unit. If not, your company may only pay up to a specified amount if it is stolen or damaged. Check with your company to be sure.
Note: most endorsement policies cost very little.
2006-12-04 14:33:01 · answer #1 · answered by Anonymous · 0⤊ 0⤋
If you want the radio covered you should ask your agent about an endorsement to cover a custom radio, as someone stated earlier it’s usually not that expensive depending on the equipment and if you want replacement value or ACV (actual cash value). So in answer to your question yes.
Remember that without the endorsement the Insurance Company is liable for only preinstalled factory equipment. This would include something installed at the dealership if it was a factory option (many times navigation systems, satellite radios and so on are installed at the dealer, this is especially true with European and Japanese cars). You can also read your policy to be certain since many policies vary slightly State to State, company to company and if you have an Independent Agent they may not know what the limits are for aftermarket equipment since they are dealing with so many different Insurance Companies.
Hope this helps.
2006-12-05 10:04:48 · answer #2 · answered by deanspurrier 3 · 0⤊ 0⤋
Customizations need to be reported to the insurance company, but it depends on the customization and the value. You can call. Most likely a basic radio won't make any change to your policy. There are people who dump a ton of money into sound systems and other stuff, and those are the people who need to get the policy endorsed for this stuff and pay for the coverage for it, so that if it's stolen it'll be covered.
2006-12-05 19:24:32 · answer #3 · answered by Chris 5 · 0⤊ 0⤋
In some cases. It only really covers the replacement value of the car... not add on stuff unless you get that factored in (or you can prove you added it at a later date).
Call your insurance company and ask hypothetically. Unless its a huge system (ie a couple grand) I dont think there will be an issue.
2006-12-04 23:39:48 · answer #4 · answered by Anonymous · 0⤊ 0⤋
it really shouldn't.....alot of insurance policies automatically cover up to $1000 in additional custom parts that are permanently attached. Just make sure, if you get a satellite radio, that it is actually installed permanently....not just suction cupped or velro'd to your car, cause insurance wont cover it. Call your agent and see if you should buy additional coverage, or if you are already covered.
2006-12-04 22:41:37 · answer #5 · answered by Dan H 2 · 0⤊ 0⤋
It could if you choose to put coverage on it. Some people like to get their stereo equipment insured. If you don;t care about the coverage your insurance should remain the same. Check out http://www.surfquotes.com/autoinsurance.html and fill out the short quote for no coverage and coverage on your equipment to find out the cost.
2006-12-04 22:48:17 · answer #6 · answered by Anonymous · 0⤊ 0⤋
You can get and compare quotes for free from the best companies at:
www.INSUREFOREVERYBODY.INFO
2013-11-01 11:00:17 · answer #7 · answered by Anonymous · 0⤊ 0⤋
if you claim it on your policy and it is a high dollar product, then it would bring your insurance costs up.
2006-12-07 10:48:53 · answer #8 · answered by norb4423 3 · 0⤊ 0⤋