who here who modifys thier car actually reports it to their agent? i would really like to know.. when you do performance mods do you report it?
editL: also i am not talking about people who have collector car insurance.. i am talking about plain old liablity or basic full covrage
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orange '72 240z
blue '72 240z
red (in places) '73 fairlady z 2+2
red '98 SWB chevrolet c1500 5.7
Post Edited (Feb 16, 3:57pm)

They are not only asking for performance mods they ask about any mods to the vehicle. All it let's them know is that the car has been modified in some way or another. There is no way for an overwritter to would know what to charge or what your specs are.
Progress:
Z32 Had to sell for DD 06 Sentra :(
S30 one of these days I will get around to putting it all back together.

Stephen,
I own a large insurance agency and can answer your question.
Here is how it works. There are generally two ways to insure a vehicle
1. Stated value
2. A regular vehicle
Stated value is just that, you tell the insurance company what you would like to be paid if the car is stolen or totaled. Stated value is more expensive than regular insurance but you can decide what you will receive if something happens. Last week I had a friend buy a 1500.00 Z and he insured it, stated value for 5000.00, anticipating his improvements, the week after whammo car was totaled by a hit and run driver. He got 5k
A regular policy will work fine for most cars. A regular policy works on the concept of indemnity. So if you’re Z is written with full (comprehensive & collision) coverage the insurance company will pay to get you back to very similar value or "indemnity" if something happens to it.
This is where I hear all the whining, what is a very similar value? The answer is going market value for a similar car for sale.
Let me expand on that if you have a 5k Z car and you add 3k in tires and wheels your car is not worth 8k. The tires and wheels may have added to its market value but only 1k. I have my expensive Z insured under a regular policy because I know if it gets taken or totaled I can prove to the insurance company what a very similar car value is and that is what they will pay me.
So now that we have that; engine or other car mods don't make much differance.
Have fun
Pete
Adrenalin is 100+M.P.H. 100 feet before a 90 degree turn!
366 H.P. 418 Torque 6cyl @ 14 P.S.I. 90 Octane

I hope this helps.

Every insurance company is different, every insurance company has a different policy. All researching I have done states that if you seriously modify your car i.e NA to turbo, then you have to inform them and failure to do so can void your coverage in an accident because the premiums and yearly coverage charges are more for a turbo than an NA and if you have been doing this scam for a long period of time they can make serious trouble for you.
Anyone who listens to anyone on here about things like this is just a straight up fool. Quit being a sheep, find out from your OWN insurance company what THEIR policys are. Just because one person doesn't report modifictions or their insurance company doesn't need to know of modifications doesnt necessarily mean your insurance company has the same policy.
Generally speaking you should ALWAYS be honest with your insurance company...
85' 300ZX NA
86' 300ZX Turbo
88' 300ZX Turbo
89' 300ZX Turbo
300ZX Turbo Project

well, what iam asking is, some dude is saying that if you for instance convert a n/a car to turbo you are OBLIGATED to report it.. that any mod you do has to be reported..
---------------------------------
orange '72 240z
blue '72 240z
red (in places) '73 fairlady z 2+2
red '98 SWB chevrolet c1500 5.7

you are the one that told the guy that he has to report his car in the first place as a turbo if he traded with the guy.. so are you calling him a fool for listing to you? quit flip flopping on the goddamn point
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orange '72 240z
blue '72 240z
red (in places) '73 fairlady z 2+2
red '98 SWB chevrolet c1500 5.7

Are you really that daft? Call up your insurance company and ask... Jeez! That guy has no clue about YOUR insurance policy, and it could very well be different to theirs.
85' 300ZX NA
86' 300ZX Turbo
88' 300ZX Turbo
89' 300ZX Turbo
300ZX Turbo Project

I do,
Havemy 73 240z under antique insurance. and I had an appraisal done to prove the value of the car for if something like wht happened to BBZ happens again, or if I try to sell it, God forbid. And i believe i pay less a year than just having it as stated value.
SHIFT_PPSSHHHTT... I love it, I love it
1973 240z, 2.8L Turbo, BRE Style
z31 ECCS and MAF swap
Spooled Up Racing ®
http://spooledupracing.tripod.com/home.htm

you just changed your tune YET AGAIN you were not talking about policys differing earlier .. you just said in general.. it does not ******* matter to me about my policy.. i'll take my chances..
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orange '72 240z
blue '72 240z
red (in places) '73 fairlady z 2+2
red '98 SWB chevrolet c1500 5.7

wannabrez i apreciate your input.. but i am not really talking about collectorcar insurance.. what i am talking about is the avrage insurance plan like liabity or regular full covrage...
---------------------------------
orange '72 240z
blue '72 240z
red (in places) '73 fairlady z 2+2
red '98 SWB chevrolet c1500 5.7

In the USA, the insurance is not regulated the same as say Britian, where engine modifications change the cost of the cover.
But almost UNIVERSALLY there is a "checkbox" on most underwriting sheets that has a box for "turbo" because of the increased cost of claims from the "turbo"version of almost ANY vehicle.
Chances are if you tell them you have converted to "turbo" your policy will increase in cost. if you get into an accident, what Pete Z said above will come into play.
if you convert to turbo, and DO NOT tell them (if this is a criteria for their underwriting of policies) they havea VALID reason to DENY ANY CLAIM you might make.
So the choice is up to you, report things the underwriter says you have to report, and fagadabout anything they don't care about. If the car is decent, consider "stated value" instead of standard cover.
I have watched pristine restored Mustangs get totalled in one incident involving a hand-controlled car running away and backing into it at full speed after jumping a median in reverse. The guy JUST spent over $4000 on paint the previous week, and was in line for tinting of his windows.
Unfortunately he had not gotten around to making a "Stated Value" change to his insurance, and got buggered on his claim. As well a having to sue the shop and other car owner for some recompense.
I mean, this car was flattened, Left Front tire was almost HORIZONTAL it got hit so hard. Demo Derby WHAM!
People Are Idiots, Just look around here and you will see!
Tony D: "Knowledgeable but Caustic"... rationull
My brother from another mother calls himself "Willie D"

Well if you're foolish enough to "take your chances" then your opinion is moot... I just wanted to inform other people not to listen to you because it's not very smart to LIE to your insurance company.
85' 300ZX NA
86' 300ZX Turbo
88' 300ZX Turbo
89' 300ZX Turbo
300ZX Turbo Project

If so, I'd think someone at the regional or home office would like to discuss your office's business practices. That's if you bound coverage on your buddy's car and intentionally overstated the value.

Pete,
Off hand, what carriers write stated value without restricting the mileage? It would be easier to pay a little more premium than argue about current market value.
Anyone can drive a new car.

tony nailed it.
they don't want to know about little things like headers or changing the air intake, BUT most DO have a clause that major modifications must be reported.
it just makes sense, they need to know the risk of the driver and the car that they are underwriting.

Zer's / insurance dudes,
Wow!! I love this kind of stuff, great and not so great points are made above.
No I did not write the stated value Z in my first example. I run my agency by the books, the insurance book and the Bible.
I did insure a 2006 Ford GT last week, which went stated value
Let me go in detail a little bit more.
1. Yes of course be honest to your insurance company. IF you are asked questions answer them correctly.
2. Every state has its own department of Insurance so every states insurance laws are different. Find a knowledgeable insurance agent.
Insurance companies have different departments and tying all the ends together can be complex.
First is the underwriting department, when you call an agent for a quote the questions you are asked will fit into a computer program to determine risk and acceptability into preferred or standard rate. Lots of factors determine rates, age, prior insurance, use of vehicle, claims, tickets, homeowners/renter, one car or multiple and yes even your credit score.
So these questions are satisfying the underwriting side of the company. ANSWER THESE QUESTIONS CORRECTLY. One might be surprised as to what questions are left out.
If you decide to move forward with the company and the coverage is bound by the carrier the underwriting side is done.
Now let’s go to claim side of insurance.
In the event of a claim, the claims department will work with you to determine the value of the vehicle. Most insurance carriers will repair a vehicle up to 75% of the value of the vehicle before it is considered a total loss. A third party vendor is used by insurance companies to look for market value of a vehicle if it is totaled. That vendor will look for similar cars in the state or within 350 miles. The vendors system to find a similar vehicle is amazing, usually 18 pages of information to determine value. For newer vehicles this is very accurate. For older cars that have a disproportionate higher value than a regular old beater of the same make model and year, problems can arise.
Let me give you a perfect example;
A few years ago I had a desert full race Jeep. All the goodies where on this Jeep down to the Chevy 327 engine. Mega money into my machine. I had it insured on a regular policy. One sad night it was stolen out of my locked garage. The bastards that stole it moved one of my Z’s out of the way in the driveway, broke into my garage all while my family was at home sleeping, very scary, we now have a top of the line alarm system.
The value of my 75 Jeep came back originally as a blue book or black book or NADA value of $1,800.00 not much. I then provided receipts documentation and pictures to show what I had done to it. I also provided the insurance company with my research from several surrounding states as to what a “similar” Jeep could be bought for. With documentation provided the claims department raised my payment to $12,000.00. Remember the key word for insurance is “INDEMNITY” to get one back to the same financial state that they were in five minutes prior to the claim.
Most every company has a stated value policy, if you think that is “YOUR” Best route.
Sorry to run on like that I love this stuff.
Pete
Have a great weekend, RACE DAY tomorrow.
P.S. Most every policy clearly states "ANY" kind of racing/speed/contest/trackday/driving event VOIDS COVERAGE be careful to understand your policy.
Post Edited (Feb 17, 10:16am)

I work on the underwriting side, so I wish my little company's agency force had more like you. My employees spend most of their days trying to find the real story in the crap that comes in on their computers or over the phone.
Good luck to you, Pete. I pray you have already found success and more will come your way.

"P.S. Most every policy clearly states "ANY" kind of racing/speed/contest/trackday/driving event VOIDS COVERAGE be careful to understand your policy."
The asinine thing about that is that in the UK, and most of Europe, Race Coverage is easily and reasonably obtainable!
Now, this isn't a "rebuild what you had" kind of policy, but for late-model racers with like a WRX or the like, it will cover the cost of the BASE VEHICLE which is the highest cost, and the policies almost universally let you retain your crashed vehicle to transfer parts.
This is the lowest cost option, in in many cases for earlier cars is under $250 a year! For late models, it's not much more (really, the chances of you wrecking and total loss of the vehicle in a race is pretty slim when you think about it!) and for more cost, you can add cage reconstruction, insure your tripmeters and cronometers, wheels, engine modifications, almost any thing you wish (just costs money)...
The litigious "nobody responsible but someone but me" attitude in the USA really screws us for neat product offereings like are available in many other parts of the world---this goes for insurance products, too!
My uncle was an underwriter for Transamerica for years, and one of my good friends from school was a claims adjuster and underwriter for GAB---who ended up actually writing a claim for the company I worked for at one time...
Before people think they will "get away" with anything, a word to the wise;
My bud, while working for another big company in the fire casualty department made a telling statement: "White people with college educations don't have house fires when all their belongings are inside the thouse and they are away for the weekend"
Basically, if something look fishy, they WILL investigate, and WHEN they turn up the evidence, you are out on your a$$ for any claim---as well as putting yourself on the line for a fraud charge if they have a particularly spunky anti-fraud department.
I insure with people that have VERY ACTIVE anti-fraud departments. Funny, they have the lowest rates for some reason!
All it takes is a little investigation on your part to find this kind of stuff out!
People Are Idiots, Just look around here and you will see!
Tony D: "Knowledgeable but Caustic"... rationull
My brother from another mother calls himself "Willie D"

Tony, that sounds a little racist. My friend who owns a fire & water restoration company says that if you want to collect, all you have to do is make a little chocolate coco. Meaning the syrup once forgotten will catch fire & ignite the cupboard or curtains above the stove.
Anyone can drive a new car.

Take his example of a family who had a mysterious "Trailer Fire"
Living in a trailer park outside of Flint Michigan.
To all outside appearances, your typical WASP-Y family with a minivan, mustang, taurus, and toys...
All on credit, heavily leveraged against overtime mom and dad worked at the local UAW Charity (Ford Motor)
Suddenly the house has a fire, and boo hoo! "We lost everything".
Also known as "Insurance bails us out after the lawyer says we can't technically file for bankruptcy right now"...
Exactly as he said, "White people with college degrees don't have house fires and loose everything"
The inference being White Trash gets hit by "jewish lightning" on a regular basis where he was working, and he knew what was going on. (Also known in Western Kentucky as "Kentucky Lightning"---AKA "ARSON") He found it curious in 25 cases he was on as a claims adjuster that summer, NOT ONE HOMEOWNER had a college degree. Stating white was simply a function of where he was living---there AREN'T any other people there BUT white people. When writing claims for White Trash, you tend to get a bit classist, maybe. But just because someone makes a comment that "White People" this or that, does not make it a RACIST comment.
Just like the fat lardo on Southwest that got all PO that they wanted here to buy another seat because she was too fat. She immediately crys RACIST! Because there were other fat people on the flight, but SHe was the only one that was approached.
I don't know, listening to her on the radio in her inteview, I thnk it had more to do with her insistent manner and demanding personality that called attention to her, rather than the other fat people on the flight.
And the fact that rather than deal with people like her any more, the flight attendant that called the cops on her (after she went medevil on his butt and started insulting him ---which she justified as a reaction to her being defensive, and hurt, etc etc etc), decided to take a lesser position at less pay VOULNTARILY, rather than sit in the position where he would EVER have to deal with the public again!
People who cry racisim are looking to be offended. Making statements of FACT is NOT racist. The quicker the idiotic P.C. morons learn THAT SIMPLE FACT, the better off we ALL will be.
Making a statement that white people with college degrees not having house fires IS NOT ANYTHING MORE THAN A STATEMENT OF HIS EXPERIENCE TO THAT POINT IN LIFE. It infers nothing more than that, YOUR take on it is somthing more that IS NOT SAID AND IS NOT IMPLIED IN ANY WAY WHATSOEVER!
Were he to say "Niggers burn their houses to get insurance money" I would agree wholeheartedly that, while it may be an observation of fact, it was presented in a somewhat insensitive and BIGOTED way, but not necessarily RACIST.
The term Racist has been made a bugaboo in current terminology, and people jump to cry racist without any thought to what it REALLY means!
People Are Idiots, Just look around here and you will see!
Tony D: "Knowledgeable but Caustic"... rationull
My brother from another mother calls himself "Willie D"
Post Edited (Feb 18, 11:07pm)

Man you can ramble on, way too many words there... lol
85' 300ZX NA
86' 300ZX Turbo
88' 300ZX Turbo
89' 300ZX Turbo
300ZX Turbo Project