General insurance question

[SeptuagenerianSasquatch]

Now suppose somebody hits you--and you can establish that party as at-fault. You go to that person's insurance company for a claim. Can you make them pay for your after-market mods?

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[Aspeer]

I know that the accurate answer will come from our individual states and policy provisions but I have a general question that hopefully someone can answer.

If someone has a policy for an example for a vehicle with a purchase of $50k. They subsequently add $25k of 3'rd party modifications. In the event of an accident where the vehicle is not totaled and below the depreciated $50k policy limit do insurance policies include damage to the modifications or only for the parts that were stock?

It of course depends upon your state and Policy. I have progressive and added an additional $2,500 custom parts and equipment (for about $40). Make sure you keep all of your receipts for additional custom parts and equipment.

The following is directly from Progressive's website:

Custom Parts and/or Equipment
Both Collision and Comprehensive coverage provide up to $1,000 of coverage for custom parts or equipment. Custom parts or equipment are accessories and enhancements permanently installed in or on the insured's vehicle. Parts and equipment offered by the manufacturer or installed by the dealer at the point of sale are not custom parts or equipment, but are included under the insured's standard Collision and Comprehensive coverage.

Additional Custom Parts and/or Equipment
Additional Custom Parts and/or Equipment (ACPE) coverage is available if the insured has more than $1,000 of custom parts or equipment on their vehicle. If the insured purchases ACPE, we will pay for custom parts or equipment damaged as a result of a covered accident up to the amount shown on the insured's Declarations Page.

Additional Custom Parts and/or Equipment coverage may be purchased by entering a total value up to $5,000. The insured must have Comprehensive and Collision coverage on their policy to obtain ACPE coverage.

For example: If the insured takes their car to a shop and has a $3,000 hydraulic package installed and is later involved in a crash that damages it, only $1,000 worth of coverage for repairing it would be provided under Collision coverage. In this case, the insured would have needed to purchase at least $2,000 of Additional Custom Parts and/or Equipment coverage in order for the claim to be fully covered.

 

[Bill K]

It of course depends upon your state and Policy. I have progressive and added an additional $2,500 custom parts and equipment (for about $40). Make sure you keep all of your receipts for additional custom parts and equipment.

The following is directly from Progressive's website:

Custom Parts and/or Equipment
Both Collision and Comprehensive coverage provide up to $1,000 of coverage for custom parts or equipment. Custom parts or equipment are accessories and enhancements permanently installed in or on the insured's vehicle. Parts and equipment offered by the manufacturer or installed by the dealer at the point of sale are not custom parts or equipment, but are included under the insured's standard Collision and Comprehensive coverage.

Additional Custom Parts and/or Equipment
Additional Custom Parts and/or Equipment (ACPE) coverage is available if the insured has more than $1,000 of custom parts or equipment on their vehicle. If the insured purchases ACPE, we will pay for custom parts or equipment damaged as a result of a covered accident up to the amount shown on the insured's Declarations Page.

Additional Custom Parts and/or Equipment coverage may be purchased by entering a total value up to $5,000. The insured must have Comprehensive and Collision coverage on their policy to obtain ACPE coverage.

For example: If the insured takes their car to a shop and has a $3,000 hydraulic package installed and is later involved in a crash that damages it, only $1,000 worth of coverage for repairing it would be provided under Collision coverage. In this case, the insured would have needed to purchase at least $2,000 of Additional Custom Parts and/or Equipment coverage in order for the claim to be fully covered.

Thanks for this. I too have Progressive and may look in to a little extra coverage...

 

[DaddyO]

I’ve had policies on my Harley that have paid to repair my motorcycle and replaced the parts bc I pay for replacement cost and accessories.

 

[SeptuagenerianSasquatch]

Thanks for this. I too have Progressive and may look in to a little extra coverage...

From what I heard, Progressive is more difficult than most on claims. That's how they undercut others.

 

[bassist]

Now suppose somebody hits you--and you can establish that party as at-fault. You go to that person's insurance company for a claim. Can you make them pay for your after-market mods?

Your options if they don’t are:

1) hire a lawyer
2) file a claim with your insurance company for what you’re not getting, pay your deductible, and they will go through subrogation. If they can’t get the other carrier to pay them, it’ll go through an arbitration/mediation process, and if your insurance company prevails, you’ll get back your deductible.

 

[SeptuagenerianSasquatch]

Your options if they don’t are:

1) hire a lawyer
2) file a claim with your insurance company for what you’re not getting, pay your deductible, and they will go through subrogation. If they can’t get the other carrier to pay them, it’ll go through an arbitration/mediation process, and if your insurance company prevails, you’ll get back your deductible.

Worth noting is the recent increase in uninsured and unlicensed drivers.

 

[bassist]

Worth noting is the recent increase in uninsured and unlicensed drivers.

Which is why you never want the bare minimum coverage!

 

[SeptuagenerianSasquatch]

Which is why you never want the bare minimum coverage!

And considering the uncertainty over parts availability (tariffs, all that), I checked off the car rental option.

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