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by Andy Is Wicked Married to Penal Colony on May 2nd, 2004

Andy Is Wicked Married to Penal Colony

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My car is "tricked out" with lots of custom equipment, so it is worth more than the blue book value. If I wreck my car, will my insurance company give me the blue book value or the actual value?

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Answers. 4 helpful answers below.

  • by Jack Scotty on April 1st, 2005

    Jack Scotty

    Most times you are granted the blue book value only because of the way that the insurance institiute sees it. As far as they are concerned, modifications and customizations do not really add appreciable value to the car. Although you might have made a considerable investment in the modification to suit your desires, it does not increase the demand for your vehicle with those added accessories.

    Some insurance companies actually offer custom and classic car insurance where you are insuring an actual dollar amount vs. insuring the replacement or payoff of the car.

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  • by HARD Lifestyle on January 11th, 2009

    HARD Lifestyle

    All depends on your policy but most will not!!
    Of course you can contact them to add the coverage to your policy and am sure they would do it at a higher rate. If you need a unique paintjob these guys can help.
    http://www.hardlifestyle.com

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  • by RedJohn on December 3rd, 2005

    RedJohn

    It may be to your benefit to have a special rider attached to your policy covering the items you want to have insured and that are not normally considered part of your vehicle. Contact your insurance company and find out what they need to cover the additional expense they may incur paying a claim for you.

    Riders may also be used on your homeowner's insurance to cover expensive or special items, since insurance companies usually only cover losses up to a certain value. There may also be certain items they exclude from their coverage.

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  • by Andy Is Wicked Married to Penal Colony on May 2nd, 2004

    Andy Is Wicked Married to Penal Colony

    That depends. Some policies will not cover vehicle mods (modifications), some will for an extra charge, and others do cover the mods as part of the basic insurance policy.

    Be sure to take several photographs of the interior and exterior of the car to show the modifications and the overall condition of the vehicle. Save all of your receipts from having extras purchased and installed too. Also consider having an appraisal done by a professonal vehicle appraiser and get a certificate or statement form them to keep with your records.

    Make it a point to ask if the mods are covered and ask where in the policy that specific information is cited. If coverage is not available you might want to find an insurance carrier who will cover the mods.

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