Auto Insurance for Your Customized Car
Auto Insurance for Your Customized Car
Lots of drivers customize their cars as a way to express their individuality. From custom paint jobs and chrome rims on the outside to LCD monitors and top-of-the-line electronic systems on the inside, there seems no end to what drivers are doing to help their cars get noticed. Such customization is costly, and so too is the cost of insuring it all—IF you can find an auto insurer willing to cover these types of expensive enhancements.
Talk with your agent
If you want to protect your investment, it’s wise to consult with your auto insurance company before making any type of customized change to your vehicle. Talk over with your agent what you plan to do and then find out:
- Which modifications will and will not be covered.
- Whether the auto insurer is even willing to cover a customized car.
- How much it’s going to cost you to insure your car once it is customized.
Auto insurance companies that will work with you will require you to purchase what’s called an endorsement. An endorsement is simply an extension to your existing policy that covers the auto’s substantial customization. In this case, the endorsement would apply to the comprehensive and collision part of your auto insurance policy.
Read the fine print
Before agreeing to the endorsement, be absolutely certain you understand what it covers. Note that auto insurance companies typically cover the actual value of the parts rather than the price you pay to replace those parts. Actual value is usually less than the retail value. So even though the car’s modifications are covered, you will probably still pay money out of your pocket to replace the parts should the parts ever become damaged or stolen.
A further way to protect your investment is to have a professional install the parts rather than doing the installation yourself. It’ll likely cost more up front, but in the long run, you’ll be safer. And staying safe is the best way to keep your auto insurance costs from spiraling out of control.
One final word
As always, and especially when you need the extra coverage for substantial auto customization that an endorsement provides, it makes sense to obtain multiple quotes from several auto insurance companies.