Car Insurance does not include custom wheels?

[RiceRoketToMust]

My insurance, Unitrin, says I have to pay $100 a year to insure my non-stock wheels. I thought car insurance covers your car completely or is it everytime you add a custom screw, the scum bag insurance companies will charge you more?

 

[EIGHTEIGHT_GT]

Insurance companies use the word "indemnify" which means to return to the previous state- no more, no less. Coverage for custom things like wheels and stereos are additional coverages that are usually added to your policy for additional premium. Some policies offer a certain dollar amount in custom items built into the policy, but some you have to purchase.

 

[cLeAnRaCiNgLdR]

that sounds about right...god forbid insurance companies could lose a few dollars on your wheels. lol I'm sorry I just hate insurance companies like god hates sin. insurance and oil have got to be the two most profitable businesses in the world.

 

[RiceRoketToMust]

that sounds about right...god forbid insurance companies could lose a few dollars on your wheels. lol I'm sorry I just hate insurance companies like god hates sin. insurance and oil have got to be the two most profitable businesses in the world.

Yeah, I'll ask Unitrin Insurance if I should use seat covers. They may charge me extra if I start ripping major arse in my seat. Or maybe that's covered?

I can't wait until Insurance companies can no longer charge you more for coverage just because of your zip code. My neighborhood is faily nice and I pay more than others. It's underway in S. Cal. Soon, I hope, in N. Cal. The slimes look for any loophole to get you. But don't file a claim.....oh no.....

If something does happen, I'm going to ride them every 30 minutes like a wild cowboy til they pay up.

 

[stanmckinney]

My agent discourages his policy holders from owning convertibles yet his wife has one. He's a car nut, though, so he understands modifications a bit more than the average agent.
Look around you might find someone willing to bend the rules a bit.
Comparing prices never hurt, and could save you some money.

 

[Infinity]

State Farm covers ANYTHING I do to my cars. My agent has digital photo records of all modifications burned to CD and kept in my file. They even kept my old car's records and transferred the info to the purchaser's agent (also State Farm) so she would be covered in the old GT.

 

[4511.21]

The insurance companies base your comp and collision rates on the cost new of the car. If you have custom wheels that cost the same as your stock wheels you would be covered. However, if your custom wheels cost more...then obviously the insurance company is not getting premium for your higher "exposure."
It only makes sense. If you need coverage for those extra items you need to let your insurance agent know about it. They can increase the "cost" basis of your vehicle or have a "stated amount" endorsement added on. Of course, you will pay a slightly higher premium for comp and collision.

Knocking an insurance company for not covering your "custom" wheels is short-sighted. If you put an addition on to your home costing $50,000...would you expect the insurance company to pay $50,000 more than the limit showing on your declarations page. Of course not. They want to update the value of your home and charge the premium rate.

 

[stanmckinney]

They will not guarantee replacement costs. Even Judge Judy will only reimburse you for the depreciated loss. That is unless you have a stated value policy. I have a 1966 convertible insured through J.C. Taylor with a stated value. And it just occurred to me that the value is not enough and should be updated. I also have additonal coverage for any parts that might be in the vehicle and no deductible.
Of course, I am limited to 1,000 miles a year, driving only in parades, cruises, etc., no driving to work or school. (They probably don't want me driving it to Wal-mart either, but then again I don't drive it to Wal-Mart.) But the good part is that the cost is only about $200 per year.