Supplimental insurance for extensive custom work + parts?

[fiznat]

I've been thinking a lot lately about how I am going to protect my car once I get it on the road. Naturally it will be covered with the regular insurance and all that, but I'm a little bit bothered by the fact that if I wreck, or if something gets stolen or vandalised, my insurance policy will only cover damages to the blue book value of the car (which is of course nothing close to what I've put into it).

I found a couple classic car insurance places online as a start, but I was wondering if anyone knew some good companies that will provide an additional coverage for things like theft/vandalism/non-racing related accidents based on an agreed value rather than a blue book value. I'm not looking for some huge policy, just maybe a $10,000 coverage for the work/parts I've put into the car.

Anyone looked into this themselves, or have any advice/info that might be helpful?

[Repo Man]

Have you discussed this with an agent? This is often a risk one takes when modding a car. If you insure a 240 for 10k it will probably be fairly salty.

I would talk to an agent and get the scoop directly. Let us know how that turns out for you.

repo

[SDRonEbay]

On the same note, I wonder if it is possible to insure each aftermarket part individually as an asset. this might be worthwhile to find out as well.

[fiznat]

I havnt checked about "insuring as an asset" (?), but I have talked to my regular insurance agent (I'm insured through USAA). They arent willing to insure any car based on an "agreed value," its all just basic KBB costs, etc. I've been calling some other insurance companies to possibly get a suppliment to my regular insurance -- a lot of places have something similar, but they are either reserved for collectable/classic cars (of more than 20 years old), or for cars that travel minimal miles in a year. Obviously my 240 is neither.

I'm thinking more and more now that it might not be possible to get the car insured for this amount as a driver, but I still might have the option to insure the parts for just theft/fire/vandalism/etc. That would at least make me feel a little bit better: crashes I can do my part to help avoid, theft and the like are much harder to protect yourself from: especially when the whole freaking town knows about your car (and for some reason it seems like everyone does).

[BadMojo]

On the same note, I wonder if it is possible to insure each aftermarket part individually as an asset. this might be worthwhile to find out as well.

You'd have to read the policy verbiage itself, but I think almost any homeowner's policy will exclude any component that's actually part of a motorized land conveyance.

Now, if the parts are sitting in your living room, that's a different story. Once attached to your car, you're pretty much stuck with your auto policy to get compensated for any aftermarket parts.

Still, I'll ask around at work tomorrow to see if there's anyone out there who can do what you're requesting.