Anyone have quite a bit of money into their car and have it insured for what it's worth? State Farm basically told me to get bent when I asked to get my car insured for more money. They said if it was 1970 or older that I could get it appraised for more.... or if I had custom paint or sound system I could but not if my drivetrain was different. Any help would be greatly appreciated.
I can do it for my car through my insurance. I think it's called a schedule. I can itemize things and insure them individually.
Tell State Farm to get bent. That is garbage. They should be able to do an agreed value policy. That is what I'll be doing with my car, merely for comp claims of theft and acts of nature. You would need to get an appraisal from an outside company which might cost money. Either way, insuring your car for it's value when you have $10k+ into it is a good thing.
Pretty sure Progressive does that too. Progressive said anything BOLTED to the car is insured for its value.
Yeah, Farmers and AmFam told me the same thing. They said anything secured to the car interior or exterior would be appraised by an underwriter in the event of a loss anyway. Despite that, they were willing to have the cars appraised (on my dime) and agree on a "fair value" policy or whatever. All my agents said the same thing about aftermarket parts and that was to keep receipts and documents just in case. They mentioned that cost of labor to install a part would likely not be covered but the cost of the part (or difference between parts in some cases) would be considered. Did you talk to your agent or their 1800 number? If your agent, maybe try talking to a different agent. I've switched agents a couple times because of misinformation and inconsistent performance. I've had 2 agents from the same company tell me 2 completely different things regarding my home policy. You're paying for a (mandatory) service. You should be getting the best service possible imho.
The thing is, in the even of an accident or theft, the law (or what I've been told of it) requires the insurance company to make you "whole" again. Merely covering the parts does not make the customer whole again. In the cities, the shops that do this custom type of work charge $150 an hour. That in itself would add another $15-30k of value to my (and many other's) car. Not that I want to insure said car for that, but in the event of an accident that I was not at fault for, I would pursue the company heavily. Food for thought.
