As most of you know (and are probably sick of hearing ), I just got my rebuild back.

I pumped a fair amount of $$ in to this but who knows what I would get for it if I was going to sell (am not).

I think I know the answer to this but curious on others opinions. For insurance purposes should I tell them of the "upgrade" as the fair market value "may" have gone up. However I don't know how they would ever calculate FMV as I have not heard of anyone actually selling a car with the 4L in it

Or do I run the serious risk that they will view the car as "modified" and either jack my rates or even go as far as trying to cancel my insurance (seems extreme but who knows with insurance companies)

Thanks

 

I think even though the car could be easier to sell now to someone that would like the upgrade and new rebuilt motor. It may not raise the value of the car in the market, not significantly. I would not inform them about it unless you had to negotiate a higher value if the car is written off and if that happens I would only then tell them that the original engine failed and had to be rebuilt and show them the total on the bill.

 

What does your policy show?
My policy shows deductibles, and values of all vehicles. Cars, truck, snowmobile, house.
It is all laid out.
If yours shows $30k, Would you be happy with that number?
If not happy, you should have you car appraised. And have your policy reflect that new value.
I would try and stay away from mentioning HP. No mention of 1ooo hp, NO2 kits, turbo kits, or go fast bits.
Engine rebuilt to concourse specifications. And an agreed upon value. Simple.
You policy provider may require one of their inspectors, if not, there are a few people on here that can do it.

 

My 996 C4S shows as 50k. There is no way it is worth that, not now a days. I imagine they would offer me less and I would have to negotiate that and prove what replacement value is to get what it's really worth anyways.

 

its also fair to assume that if you ant it appraised at a higher value you will pay a higher premium.

 

unless you have a 19a policy, the number on your policy doesn;t matter, as they will negotiate with you. I agree with Greg(Jumper) don't tell them and if the car is total loss or stolen, then save the receipts and call me to help negotiate with insurance for you. I do this regularly and always have gotten a lot more than insurance offers and things like recent rebuilt engine adds value to the payout. FYI Insurance companies also hire me to do the same.

 

Thanks guys, my gut was just to stay quiet on it and thats what I will do

Cheers

 

I have a friend that installed a supercharger on a 2010 Camaro SS. He notified his insurance company and they promptly dropped him.
Remember insurance companies will look for any reason to deny a claim.

 

Car insurance is like travel insurance. Get hit by a bus in Cuba and they refuse health claims because you didn't tell them about your hernia repair 20 years ago... 'But that Mercedes bus...' Nope. 'But I have a Mercedes *star* impression on my forehead...' Nope.

 

insurance companies are about managing risk ... which really means they are about managing to get you to take the risk.

 

And its going to get worse with all the data they now and will soon have more of on each and every one of us. I sat through a presentation by David Chalk (Big Data Danger) where he told a story of a close friend who was denied term life insurance. When the friend asked why specifically they used specific data on his frequent "up to 3 times a week" visits to fast food establishments as to one of the primary reasons for the decline.