AutoCoutureSC

iTrader: (8)

Old car or not, I still pay for FULL coverage on both my vehicles.

1993 SC400 and a 1995 Civic. I pay roughly $1200/year on BOTH vehicles.

mikeloc24

Lee, why? Do you have special insurance? I'm asking because I called a couple of insurance places and explained the situation, I was told the same thing from all of them. Being that the car is a certain age/mileage that even IF I had full coverage the most I'd get in the event of a total loss was a check for $3500. To me the math just didn't make sense. I see it as me paying $1800 a year to insure a $3500 vehicle (regardless of how clean and pristine it is).

Now granted, our SC's may be worth more than $3500 to US individually, but what an insurance company will pay out for one after it's been demolished is another story. This also weighs heavily into my mod consideration. I have to be willing to sacrifice whatever I put into the car in the event of an accident because I know insurance won't replace it.

kietlander

i just added insurance on the SC this morning. its only 200 more. i have my 18 year old brother(just got license) on it too. with 2 cars, 97 impreza, and my 95 SC. its 1400 for 6 months. liability not full coverage. damn new drivers.

AutoCoutureSC

iTrader: (8)

Why? Special insurance? Nope. Since both cars are modded, i feel much safer knowing that if I park my car somewhere, and something happens to it, I'm fully covered. Also, my car is worth more than $3500. WAY MORE than that. Probably around double that WITHOUT mods. Hell, my civic is worth more than that too. And yes, my insurance will replace everything on the car. FULL coverage is the only way to go with me. I'll never downgrade, no matter what car I have. Besides, $50 extra per month for full coverage is nothing.

mkorsu

Wanna trade states? I pay a little less than that for 6 months, liability only! Some increased limits though.

IS0LD0UT

iTrader: (1)

Did this exact thing on my wheels, suspension, and aero kit. I just needed to list the parts and prices paid. Now if something happens I will be fully covered. It only cost like $60 a year extra.

cheungsta

Hmm...definitly something to keep in mind when i get around to adding stuff....good to know..thnks!

TMaxxTim

I think a lot of people are looking at how much per year for full coverage and saying thats almost as much as the car is worth after 2 yrs of payments.

What they're not looking at is how much full coverage is actually MORE than just liability. If you pay $300-$500 a year more for collision then it is well worth it. I have to convince my dad to put it on there now and pay for it myself, but I will. Blue book says my car is worth $5500 private party.

neoprelude

I got it on mine, 140 a month with 500 deduc. in my 'rents name (only 16) they wany like 400-800 a month in my name . I would never be driving around with minimum coverage in a car that book values at around 10 thousand dollars eh! I even had full on my 90 prelude si, I just don't think the risk is worth it what so ever. (Especially on a car worth over 4 thousand!)

slugmike

Oh another thing worth mentioning.

"Full coverage" is a generic term, and it can mean different things to different people.

This can cause problems because people may expect coverage that isn't on their policy.

Don't assume that you have all available coverages just because your agent tells you you have "full coverage."

Review each individual coverage on your policy and make sure that every type of coverage you desire is listed there.

mikeloc24

That's what I'm trying to figure out, does your insurance company recognize and cover all the upgrades on your car? The insurance company I went with said they could cover mods and my wheels and all of that but when he showed me what the policy would cost to me it wasn't worth it. Plus what about when you make changes to your car? Do you have to alter the policy to reflect the latest upgrades? Just curious because I want to talk to my insurance guy about this.

Basically, does the insurance company recognize your car as a "1995 Lexus SC400 with XXX, XXX miles on it" or do they see it as a "1995 Lexus SC400 with an AC bodykit, ZG wheels, etc" and cover it as such? I might want to switch companies soon

IS0LD0UT

iTrader: (1)

Im no insurance expert, but my dad sells insurance so I know a few things. Insurance companies deal with replacement cost. If the cost of the fix is too high on the scale they will total the car. Giving you the "1995 Lexus SC400 with XXX, XXX miles on it" price, so you can get another "1995 Lexus SC400 with XXX, XXX miles on it" car. Now if it was a minor accident most likely the repair cost will be the same or close depeding on if its moded or not, so in this case it might not matter so much. Now if you want the moded car to be completely covered, extra insurance is what you want. It doesnt cost much, I have 3K wheels, $300 body kit, and $1500 suspension, and it only added like $60 a year.

Feel free to correct me if im wrong.

mkorsu

Mike, I can somewhat answer your question from experience. Back a number of years ago, oh ok - 15 years ago! ,I owned a lowered mini truck. As I started building the system I had to have a rider attached to my policy for each individual piece of equipment in order to have it covered. This entailed photographs and receipts for each piece. This also went as far as the rims, interior pieces, etc.

Once my policy was in place, I made some changes to the truck. I had to go back to my agent and adjust my policy to ensure that the new equipment was covered. So, yes, I would say you need to change/adjust the policy with each change you make in order to have it covered.