how does insurance cover your investment?
05-25-2004, 08:29 AM
#1
Registered User
Thread Starter
Join Date: May 2004
Posts: 1
how does insurance cover your investment?
after throwing in thousands and thousands of dollars into a 240sx ... how do you guys get the insurance companies to pay u back for everything if you get into a major accident?
the insurance people go by the value of the car itself, which is pretty low, especially for an older 240sx. what if you have a sr20det, suspension, etc. all installed and then get into an accident?
my parents don't want me to invest into a sr20det because they believe that insurance won't give me my money if i get into a major accident. they said something about how i didn't tell the insurance company about the engine swap, and list all the stuff i changed when i buy insurance.
how do you guys get your insurance company to cover your investment?
the insurance people go by the value of the car itself, which is pretty low, especially for an older 240sx. what if you have a sr20det, suspension, etc. all installed and then get into an accident?
my parents don't want me to invest into a sr20det because they believe that insurance won't give me my money if i get into a major accident. they said something about how i didn't tell the insurance company about the engine swap, and list all the stuff i changed when i buy insurance.
how do you guys get your insurance company to cover your investment?
05-25-2004, 09:08 AM
#2
Registered User
Join Date: Oct 2003
Location: Hampton Va
Posts: 93
you have to claim it with the insurance company. you have to tell them all you have and the value. and by what you tell them they adjust your rates accordingly. (this is just what i know it may be different)
05-26-2004, 05:53 PM
#3
Registered User
Join Date: Nov 2003
Location: Florida
Posts: 93
If you change the engine it's best to kept quiet about that should you get into an accident. Most mods should be salvagable in all but the absolute worst of accidents (at that point it's doubtful you will care 
).
A car you drive everyday should not be considered an investment. If you drive less than 2k miles a year (I think that's the limit) you can get show car/special vehicle coverage...it's steep though for what you get.
).A car you drive everyday should not be considered an investment. If you drive less than 2k miles a year (I think that's the limit) you can get show car/special vehicle coverage...it's steep though for what you get.
06-03-2004, 09:27 PM
#4
Registered User
Join Date: May 2004
Posts: 10
Alright heres the low down with vehicle protection, insurance, and theft. (Moderators please make this a sticky so everyone can read)
With basic liability which for me 19year old male, 1992 240sx is a 6 month premium for $879.00 This covers ABSOLUTLY NOTHING on your vehicle and only covers the other party in an accident that you commit.
With comprehensive which is what I have is $965 (the next step up) covers you of glass damage, fire, hail, stolen vehicle, vandalism. You want to make sure you have this one if you put any money into the car. Anything apart of the car will be covered as long as you supply reciepts of purchase (stereo, springs, rims, intakes, etc.) If its not apart of the car CD's, **** collection, etc. it will have to be filed through home owners insurance.
With Collision you get the two I explained above for $1485, PLUS this covers dumb *** drivers who suck and need damage to their car that they commit fixed by insurance. I personally do not commit accidents, but if you feel your a bad driver you may want to concider this one.
Now to top it all of for an additional $40 on top of the Collision you can cover your target vehicle from theft by claiming all the goods you put into it. Turbo charger, built engine, custom paint, carbon fiber galore, but you must supply reciepts.
My last car Vortech supercharged Del Sol heavily modded. The first time my car was broken into they stole the sound system, and bolt on parts, they were unable to remove the supercharger. Since my car wasn't even close to being totaled they gave me the value of all the parts that were stolen, and the damage that was done. The 2nd time my car was broken into they completely jacked it and I was notified later that it was found completely gutted out and they tried to explode the gas tank. This time none of the parts (supercharger, rims, sound system) wasn't covered because the car was totaled. When the cost to replace damage goes beyond the actual cost of the vehicle it becomes totaled and you get nothing for the parts, even with reciepts and pictures. You only get the street value of the vehicle in its estimated condition prior to the theft. I was basicly cut a check for $5k when my $14k car was stolen. SUCKS! I thought I was safe with a clifford alarm, car club, car cover, and a hidden alarm system set up sowhen they unplug the battery that kills the main alarm, a second alarm goes off with an internal battery that can only be turned off with a key. Unfortunatly this was not enough.
Instead of paying a **** load for insurance to screw you over on when your vehicle is stolen invest in some crazy vehicle protection. GET EVERYTHING! In the 2 weeks I've had my S13 i've added an alarm and clutch lock. My additional plans in the very near future are, multiple lug locks (NEVER KEEP YOUR LOCKS IN THE CAR), FM Paging alarm, hidden fuel cut switch, locking car cover and a quick release steering wheel hub. The only possible way for them to steal my car is with a tow truck.
With basic liability which for me 19year old male, 1992 240sx is a 6 month premium for $879.00 This covers ABSOLUTLY NOTHING on your vehicle and only covers the other party in an accident that you commit.
With comprehensive which is what I have is $965 (the next step up) covers you of glass damage, fire, hail, stolen vehicle, vandalism. You want to make sure you have this one if you put any money into the car. Anything apart of the car will be covered as long as you supply reciepts of purchase (stereo, springs, rims, intakes, etc.) If its not apart of the car CD's, **** collection, etc. it will have to be filed through home owners insurance.
With Collision you get the two I explained above for $1485, PLUS this covers dumb *** drivers who suck and need damage to their car that they commit fixed by insurance. I personally do not commit accidents, but if you feel your a bad driver you may want to concider this one.
Now to top it all of for an additional $40 on top of the Collision you can cover your target vehicle from theft by claiming all the goods you put into it. Turbo charger, built engine, custom paint, carbon fiber galore, but you must supply reciepts.
My last car Vortech supercharged Del Sol heavily modded. The first time my car was broken into they stole the sound system, and bolt on parts, they were unable to remove the supercharger. Since my car wasn't even close to being totaled they gave me the value of all the parts that were stolen, and the damage that was done. The 2nd time my car was broken into they completely jacked it and I was notified later that it was found completely gutted out and they tried to explode the gas tank. This time none of the parts (supercharger, rims, sound system) wasn't covered because the car was totaled. When the cost to replace damage goes beyond the actual cost of the vehicle it becomes totaled and you get nothing for the parts, even with reciepts and pictures. You only get the street value of the vehicle in its estimated condition prior to the theft. I was basicly cut a check for $5k when my $14k car was stolen. SUCKS! I thought I was safe with a clifford alarm, car club, car cover, and a hidden alarm system set up sowhen they unplug the battery that kills the main alarm, a second alarm goes off with an internal battery that can only be turned off with a key. Unfortunatly this was not enough.
Instead of paying a **** load for insurance to screw you over on when your vehicle is stolen invest in some crazy vehicle protection. GET EVERYTHING! In the 2 weeks I've had my S13 i've added an alarm and clutch lock. My additional plans in the very near future are, multiple lug locks (NEVER KEEP YOUR LOCKS IN THE CAR), FM Paging alarm, hidden fuel cut switch, locking car cover and a quick release steering wheel hub. The only possible way for them to steal my car is with a tow truck.
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