Reader question:
I got an older car and want to add a bunch of features to it, basically make it like new and make it awesome. Is there anything I should keep in mind regarding the insurance?
Darnell
Always think about insurance before making changes to your car, Darnell.
Granted, this doesn’t extend to something simple like getting a fuzzy pink cover for your steering wheel or some leopard-print seat covers, but once you start paying bigger money into the changes on your car you want to make sure you know what your car insurance company covers and also make sure that your company knows what you’re adding to your car so that they can put it in your policy.
Talk to the company before you start adding things to your ride. They’ll tell you what they do or don’t cover and what the cost will be if they take your car with all the enhancements. If they don’t cover the customizations, you’ll probably have to get an endorsement for your policy. An endorsement is when you extend the comprehensive and collision part of your policy. If you don’t have those in your policy, you’ll likely have to upgrade. Even so, most plans for endorsement only cover up to $5,000, so if your sound system alone costs that much, you might want to try a different route.
Even though most regular insurance companies can’t cover the more extended amounts of customization, there are specialized companies that do. The best part of going to a specialized agency is that they understand a lot more than your regular car insurance company the value of things as small as your special paint job. These companies are a little harder to find, but are worth it in the end.
Make sure you know in detail everything you have added, because if you don’t state it, it won’t get covered. It’s also important that you keep a list of when a feature was added and by whom. In order to be covered, your car has to be safe, and car insurance companies don’t trust do-it-yourself jobs.
Cheers,
Fashun Guadarrama.