protecting your investment?

[hamboi]

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?

[[Zero-S]]

From what I get, most of the time an insurance company isn't going to cover an illegal engine swap. But for most things, keep your reciepts, and keep very good records of things done to your car. Should something happen, you'd most likely be able to get them to pay up.

[Cyberkreig]

The long and short of it is simply that it depends on the company. They dont seem to be obligated to cover you for anything aftermarket. Your only hope is to save every receipt and if the time ever comes, argue tooth & nail over ever item that it Raised the value of the car.

[bokinsmowls]

since sr20's are technically illegal in the states, I dont think any insurance company is gonna pay for anything that has to do with that. Also i think they frown upon any aftermarket parts, period. They might try to say that if you didnt have 400rwhp, you wouldnt have hit that pole..........<<just a stupid example

Pretty much if your modding, it is at your own risk. You will never get back what you put into any car.

[silkk]

yeah, just save all of your receipts

[BadMojo]

The only way I can think of to possibly insure a car like that would be through a specialty carrier. You could possibly insure it at what is known as "Agreed Value" instead of Actual Cash Value.

Agreed Value is where you basically determine, usually through some kind of mechanic's statement or appraisal, what the vehicle is actually worth and then submit this to your insurance company. As long as everything looks good and meets their guidelines, that's the amount they'll pay out if the vehicle is totalled.

Usually, this type of coverage is used for restored classic cars, and probably show cars too. The downside is that there will probably be mileage limitations and possibly even age limitations. I don't know how they will feel about the whole engine swap issue either.

http://www.hagerty.com and http://www.grundy.com are two big companies I can think, but I'm sure there are a ton more.

[BadMojo]

Also i think they frown upon any aftermarket parts, period. They might try to say that if you didnt have 400rwhp, you wouldnt have hit that pole..........<<just a stupid example

That's not really that stupid of an example. Anything that drastically changes the performance of a car changes the characteristics that were used when establishing a rate for a vehicle. When an insurance company is looking at determining a rate for a 1996 Nissan 240SX, they're looking at a car with ~155bhp and not 400hp to the wheels. That's almost like looking at two completely different cars...you'd be paying economy car prices for street monster prices.

Besides, most insurance apps ask you if you've done any performance enhancing mods to your car. If you answer no, and you actually have...they could have you by the yarbles.

[PalmerWMD]

The good thing is engines are pretty robust.

If you total your car many times you can buy teh wreck back and all your expesnive parts ( engine , LSD) can be used on anotehr 240.

As for cosmetic improvements they are down the drain.

Fred..

[f s t caz]

save reciepts for everything and give the insurance company copies if anything happens. Keep everything well documented (pictures, reciepts, etc) then buy it back, remove your items, and part it out.

[hamboi]

i had a question about how insurance covers everything.

i did give the insurance company a call before to get a quote and they asked what kind of modifications were going to be on the car.

i did not know if they would let an engine swap fly so i just told them car accessories.

do you think this would affect how i get my money after declaring a value?

my parents believe that if i didn't tell them, the insurance company, that there is an engine swap involved to get the "value" so high, that they have the right to not give me my declared value after an accident. is this true?

thanks again for your help.

[bokinsmowls]

my parents believe that if i didn't tell them, the insurance company, that there is an engine swap involved to get the "value" so high, that they have the right to not give me my declared value after an accident. is this true?

most likely, i believe they will try to get out of everything they can, they are the devil:firedevil

[UTWarrenG]

i thought SR20 swaps weren't illegal all over the US...just in places where you have to worry about the smog patrol

I know there's a place here in Toledo, OH that does over 30 swaps per year....just doesn't seem as though it'd be done so often if it were illegal

[Nissan-S14]

As far as im concerned, insurance does not cover any aftermarket parts. Period! Sorry to brake it to you. It would only cover items that had to be replaced in order for the car to be driveable. And if you were to register it as show car or as a historic car, your only aloud 5000 miles per year, And you would be paying your car worth every year, I know rates start at $5000 p/year. And receipts will not help if you have liability or theft, you can shove them up ---- --- . Sorry but I use to work for the insurance company, thats how I know.

Bottom line if you have the money to pay for the special insurance per year, your good, if not your ased out!

[Nissan-S14]

And, SR20 is illegal in any state!

[240SXer]

I have progressive, i have full coverage plus $5000 of 'additional custom parts' coverage, which covers any custom stuff I added to the car. You've just got to show recepts. I don't know how much extra i'm paying for it, but it's worth it. I get $5k over whever the car is worth if it's stolen or anything. I asked them if it will cover my motor and they said yes if it's non-standard. It'll cover anything. Showing $5k worth of recepts is cake.

I pay $1437.70 for 6 months which is for:

My 95 with Full coverage + 5k customMy 1991 240sx (liablility)My 1985 Lincoln Towncar (liablility)

For me (22) and my girlfriend (20).

For whatever that's worth, its' an option.

[Nissan-S14]

$1500 for 2 cars. wow im moving to Cali

in NY you would be paying $10,000 at 22years old

[carnal_c30]

Alot depends on the actual company themselvesI would call my insurance company ask for info about their coverages on aftermarket stuff, AAA I can get my stereo system insured and thats about it- wheels and tires they said they would offer a certain amount of money but I doubt they would pay for $1000 a piece Blitz 19"s on 300 each tires... that adds up to about half the value of my Maxima

And you also have to find a cool adjuster or insurance agent, I think a company like State Farm who have agents who are connected to you are good for things like this IF you can find a cool agent

AAA ****s me sometimes, they really arent that flexible about aftermarket parts on my car past the stereo system that costs 20 bucks a year to insure (good price)I just wish I could find an insurance company who would cover alot of the stuff like brakes, FMIC wheels and stuff like that

[240SXer]

$1500 for 2 cars. wow im moving to Cali

in NY you would be paying $10,000 at 22years old

That's about 250 a month, It's for 3 cars with 2 drivers one 22 and the other 20. It just went down, I was paying about 275 a month last time. NO ticket no Accidents for both drivers.