Gonzo911

Oops...thought you were the OP!

Ynot

I can tell you from experience that mods are not covered. When I was getting quotes, I told the sales rep about my mods, both insurance company would not covered it with the mods. When I told them, I don't have mods on the car, it was covered. So I have coverage w/o mods, it's a risk you have to take. Just hope that you'll never get into an accident.

DC911S

Geico was willing to cover mods if you paid extra but still had a cap on it.

BIG smoke

Another reason to have your car valued for insurance. Your policy should always have a value on it.
O/P when you say "totaled"? Your opinion? Or they told you it is totaled.
Can you buy it back?
If you buy it back?Could you move all your engine and drive train into a roller?

3point8

totaled is my opinion. hood crumpled, bumber beat up, both fenders banged up, driver's side window shattered, windshield shattered, both air bags deployed. i drove it a few exits up to wait for the tow truck. drove great. it was a nice way to say goodbye.

FLT951

Remove any mods that don't alter the appearance of the car. That is, you can't take a body panel without replacing it. They are not entitled to keep any mod which increases the value of the car unless they pay for it in the total $#.

Most insurance companies understand this and will either 1) pay, 2) allow you to remove or 3) sell you the uninflated salvage or 4) all 3.

When I totaled my car I told the carrier I was stripping all "my stuff" off the car. They could care less because they are not a salvage parts dealer. Then I bought the salvage anyway because they gave me a sympathy price. This is where you find out if you have a quality carrier.

"Stated value" insurance should only be secured when the value of the car is more than "actual cash value" and can be proven. "actual cash value" is the consensus of bluebooks and local market conditions. Vintage and rare cars should always be "Stated value". Current and readily available cars not so much unless loaded with aftermarket upgrades.

Beware this, "Stated value" is not a contract. The carrier IS NOT agreeing to pay what your opinion is. Many "stated value" policies have the ultimate disappointment of paying even less than "actual cash value".

3point8

thanks so much FLT951 good insight

captainbaker

The blower setup is a $10k in parts alone. I would want that back. If the wreck was local, I would tell the tow driver to take the car to my house, swap out aftermarket parts with OEM then haul off to the body shop. Assuming you still have the stock parts.

An agreed policy is iron clad in the event of a total loss.

FLT951

Indeed, "agreed value" IS a contract but difficult to find, expensive and most often requires a very thorough and expensive appraisal by a serious pro to achieve agreement with a carrier. This is not for the faint of heart nor does it make much sense on a common car.
Leland/West used to have a very easy discussion on this on their website.
"Agreed value" and "Stated value" are not the same.

captainbaker

Coming from the Ferrari world, Hagerty does this daily and can do it over the phone with supporting photos. FWIW I have an agreed policy for $125k on my Fcar for $1,200 a year and 4,000 miles annually with Hagerty. They pro rate the premiums based on mileage and if you have a daily driver.

When the dust settles, $100 bucks a month to fully insure a Ferrari. Caveman simple.

Petza914

The agreed value policies like Hagerty will cover classics without a lot of roadblocks. I have my 928 and 914 insured with them and simply submitted photos and my costs spreadsheets from the builds. For newer modded cars, they have a lot more requirements, i.e,. the daily driver vehicle can only be so old (within 5 years I think), car can't be left over night in public places, like the airport garage, etc. Tried to add my '05 RUF 997 to the policy, but they wouldn't do it at the time. Now that it's a couple years older, and I have a daily that's a couple years newer I may try again since replacing it would cost over $100k.

It's currently on my regular Travelers policy with a stated value of over $100k and documentation, but as a couple others have written, Agreed value and Stated value policies are very different when it comes to payout time.

captainbaker

Good to know Petza. I wrongfully assumed they would take a new car as simply as the Ferrari.

3point8

i got word back and they are going to fix the car! really glad it's not totaled. looking forward to a new paint job!

jhbrennan

Not Maaco though - make sure you make a pest of yourself during the repairs and paint.

DC911S

Should be done at a Porsche certified body shop.....