Auto insurance - Does it cover new body parts?

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PostPosted: Mon Mar 08, 2010 10:52 am   Post subject: Auto insurance - Does it cover new body parts?  

I just wanna change a few body parts and add new ones. I've already placed an order for the new grills and a few other things. Now, I'm wondering if these new parts would covered under my auto insurance.


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Yellowface
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PostPosted: Tue Mar 09, 2010 9:59 am   Post subject:   

It's natural that at times you may wish to get a sporty look for your car. But before you get it modified make sure that the new modifications are covered under your existing insurance. Don't try to hide any changes that you may wish make on your vehicle. If you'd hide any changes from your carrier, they might choose to deny coverage in the event you file a claim with them. They might simply consider it to be a kind of insurance fraud that you committed.

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PostPosted: Tue Mar 09, 2010 6:42 pm   Post subject:   

You really need to speak to your agent as polices differ. Some polices won't coverage after market parts, only OEM. Other polices will as long as they are attached to the vehicle.

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PostPosted: Tue Mar 09, 2010 7:07 pm   Post subject:   

It's been my experience as a repairer and collision shop owner, that most claims with assessories on first party policies have been denied unless the agent documented that alterations had been made in the vehicle owners files. For example, I've seen hail damage not paid on camper shells because the agent was not notified that it had been added. I have seen graphics and custom painting denied. They will usually pay what an oem grille would have cost, if a newer style had been used to replace it, if it had not been documented. As T stated, many things must be attached by only one single screw to the floor or trunk or side bed rail to be considered for a loss as being part of the vehicle.



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PostPosted: Tue Mar 09, 2010 7:27 pm   Post subject:   

Quote:
Some polices won't coverage after market parts, only OEM.




Funny how that happens, when the OEM part is damaged they will only pay for an aftermarket replacement. Rolling Eyes
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PostPosted: Tue Mar 09, 2010 8:15 pm   Post subject:   

That could be the definition of an oxymoron.



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PostPosted: Tue Mar 09, 2010 8:15 pm   Post subject:   

Quote:
Funny how that happens, when the OEM part is damaged they will only pay for an aftermarket replacement.
When you put it that way, yes. But it's really not the same thing. In this case the carrier is not covering after market parts, only what the OEM would have been. That is, a person added a 1993 Corolla onto a policy with comprehensive coverage. The carrier charges a premium based on this information. The radio is stolen and it turns out to be a $10,000 stereo. This is not what the carrier was charging a premium for. This is what is meant by AM in this thread.



But I agree... it's a good argument that the carrier will insure OEM parts, no more. Yet replace them with AM parts. But that still goes back to LKQ... and let's please not get on that.
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PostPosted: Wed Mar 10, 2010 12:43 am   Post subject:   

As the guys have said, check with your agent as policys differ.. I've worked for two carriers...both had an automatic "Custom parts & equipment" (CP&E) built into the policy with a 1k max...you could increase this amount for additional premium...



As to grilles, things like that when you are 'replacing' not adding something...even if no CP&E coverage, you would still be entitled to the replacement cost of the grille that it rolled out of the factor with. Lets say you put a 300 billet grille in your truck, (I have one on my truck and it's too cool Wink ) and it's damaged beyond repair due to a covered loss, and must be replaced. But your policy has NO CP&E...ok, so the factory grille costs 200 buck...you'd have to kick in the difference if you want it replaced with the billet...but again, you may already have some CP&E coverage...(same with non-factory installed bug guards, brush guards etc).



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PostPosted: Wed Mar 10, 2010 10:54 am   Post subject:   

The types of coverage that you obtain for such modified cars would differ between states. Such coverage would depend on factors e.g. vehicle type, the alterations, the existing policy and the driving history.

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PostPosted: Thu Mar 11, 2010 9:56 am   Post subject:   

Yes, it's absolutely true that in order to get those special parts covered, you'll need to inform the carrier of all such changes in time. You can't just inform the carrier after your customized parts are damaged or stolen and then expect the carrier to pay you for the loss.



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PostPosted: Fri Mar 12, 2010 7:25 am   Post subject:   

I was going through a report which shows that the thieves are now less likely to steal parts that are placed within cars. They're more after parts that are fitted outside and are easy to collect e.g. rims. So it's better we get such parts covered before we lose them!

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PostPosted: Sat Mar 13, 2010 4:54 am   Post subject:   

The best way to go about customizing your vehicle is to contact your agent. He'd probably go through the norms associated with parts that you intend to use and then offer a quote depicting how much it will cost to obtain an endorsement to cover such parts.

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