Hey guys, I wanted to share an experience I had today. There hasn't been an absolute outcome as of yet, but I'm anxiously waiting to see how this unfolds. This is just a FYI of what could happen to the large majority of us as owners of modified cars. And hopefully for anyone who has a lot of insurance experience or knowledge of a company (in Canada) who will insure appraised cars at affordable rates.
So I have an on going car claim,
-Not at fault claim, damage to front bumper, fender, headlight and hood. Basically only body damage. A pick up truck backed into my parked car while I was in a store buying oil. I luckily saw it and got the guys info
-Deemed fixable, no deductible, they’ve approved the body shops quote and said it will be fixed within 10 days. (Good friend's body shop, luckily)
-Seemed to be ok, even tho my car got smashed up
Today my adjuster asked me about modifications and if I had any done to the car. Because they saw a "blue pipe" in the pictures sent in by the appraiser while the front bumper was off. (cold air intake) I asked why and they said if there are performance modifications to the car they can neg the claim and drop my insurance. They don’t and will not insure modified cars.
This was a surprise to me, call me stupid, but it was never made known to me prior to this. I got a chance to email an underwriter at the company, off record, through a friend and shared the story above. I also asked,
"If they deem I have modifications and don’t want to insure me, OK, that’s their choice. Can they neg my ongoing claim? Also, what do they deem as “modifications”? If I have a pickup truck and change my exhaust to sound “cooler”, that’s technically a performance modification. It might at +1 HP. Now say I get in a bad accident on the highway and I’m in the hospital. Do they see the exhaust, neg my claim and drop me? Kind of scary!!"
He pretty much answered yes. They can drop me anytime, and neg a claim if they find any performance mods. They would drop the policy effective to the date you installed said parts, and you'd be SOL. He went on to say what they deem as mod parts is interpretative and really depends on who's looking into it kind of thing. Basically if you have a performance exhaust, they technically can drop you. If you have an aftermarket turbo set up installed that adds 100 whp, and they find out, they will definitely drop you. And if you had a claim, they would absolutely negate it.
So.. Leaves me in a venerable spot. for future piece of mind, anyone out there insured thru an appraisal at an affordable rate??
Cheers
So I have an on going car claim,
-Not at fault claim, damage to front bumper, fender, headlight and hood. Basically only body damage. A pick up truck backed into my parked car while I was in a store buying oil. I luckily saw it and got the guys info
-Deemed fixable, no deductible, they’ve approved the body shops quote and said it will be fixed within 10 days. (Good friend's body shop, luckily)
-Seemed to be ok, even tho my car got smashed up
Today my adjuster asked me about modifications and if I had any done to the car. Because they saw a "blue pipe" in the pictures sent in by the appraiser while the front bumper was off. (cold air intake) I asked why and they said if there are performance modifications to the car they can neg the claim and drop my insurance. They don’t and will not insure modified cars.
This was a surprise to me, call me stupid, but it was never made known to me prior to this. I got a chance to email an underwriter at the company, off record, through a friend and shared the story above. I also asked,
"If they deem I have modifications and don’t want to insure me, OK, that’s their choice. Can they neg my ongoing claim? Also, what do they deem as “modifications”? If I have a pickup truck and change my exhaust to sound “cooler”, that’s technically a performance modification. It might at +1 HP. Now say I get in a bad accident on the highway and I’m in the hospital. Do they see the exhaust, neg my claim and drop me? Kind of scary!!"
He pretty much answered yes. They can drop me anytime, and neg a claim if they find any performance mods. They would drop the policy effective to the date you installed said parts, and you'd be SOL. He went on to say what they deem as mod parts is interpretative and really depends on who's looking into it kind of thing. Basically if you have a performance exhaust, they technically can drop you. If you have an aftermarket turbo set up installed that adds 100 whp, and they find out, they will definitely drop you. And if you had a claim, they would absolutely negate it.
So.. Leaves me in a venerable spot. for future piece of mind, anyone out there insured thru an appraisal at an affordable rate??
Cheers
0 commentaires:
Enregistrer un commentaire