Quote:
Originally posted by silver
it may be hard for you to get reimbursement for your vehicle at the cost that you paid if you don't claim it. if you have a car stolen, a claims adjuster will check the average market value of your car and they will compensate you for that amount. now if you have a $4000 civic with a $10000 motor, don't expect to get anything but the $4000.
|
So you'd prefer to pay TWICE as much insurance just IN CASE you crash your car...
If you crash chances are most mods can be pulled off and re-used..
If you request an "actual value" insurance coverage you'll pay out the EAR.
They'll probobly make you do a higher deductable anyway which will eat up the extra money you're insured for...
There is just about NO reason to report your cars mods to your insurance... it's NOT required at all... only if you want to get it all covered... then IF they will you WILL pay WAY WAY more than you are now...
Probobly so much that if you had just squirelled that money away you'd have more than the payoff when and IF you do crash it...