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Old 01-08-2013, 11:54 AM   #1
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Need some advice on auto insurance

I'll get the facts out of the way first.

I live in NJ
currently have full coverage on my YJ
I have a 1989 YJ which has been fully resto modded and custom mods.

The insurance I currently have is like most, where if the Jeep is stolen or deemed a total loss, I will only receive fair market value, which Im guessing would be in the "few" thousand dollar range.

Here's the question I have. Does anyone know of an insurance company that would insure it for the value I set? ie. Hagerty. I went through the whole application process with Hagerty for them to turn me down in the end due to that they don't normally insure vehicles like this. But they considered it. One of the factors that led them to turn me down was the suspension is lifted therefore creating a greater risk....

Don't want to keep going on and bore you guys....

Anyone know of a insurance company that would insure a modified offroad vehicle for a value the owner sets???

Thanks for reading

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Old 01-08-2013, 11:57 AM   #2
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have you asked your insurance company now if they will do an actual value insurance quote for you?

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Old 01-08-2013, 05:14 PM   #3
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have you asked your insurance company now if they will do an actual value insurance quote for you?
THIS ^^^^^^^^^^^^^^^^^ Actually, I believe it is termed "Agreed Value". You decide what amount of money you would like to place on the vehicle as it's "value" and they give you a price for that much coverage. I have agreed value insurance on 2 boats. If they are a total loss, the insurance company will pay me the agreed value ... not the book value. It does cost a little more, but not that much. And we did have a boat that was totaled while docked at a marina during a tornado. They didn't bat an eye, just wrote us a check. That said, I've never tried to insure a motor vehicle for agreed value. But it's worth a try. The insurance company that we use on our boats is Progressive.
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Old 01-08-2013, 08:02 PM   #4
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I have State Farm and talked to them about mine and the mods I have added. I was told to take pictures and keep the receipts and if something happens, it will be covered.
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Old 01-10-2013, 09:57 PM   #5
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I'm with State Farm too and I've been meaning to ask about coverage while off road and if the terms change should I damage the vehicle recreationally. Anyone have experience with this?
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Old 07-31-2013, 05:44 AM   #6
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Molton, what insurance company did you end up going with?

I live in the D.C. Metro area and drive a 2013 JK Sport. USAA, my current insurer, charges $513/yr for my policy. They do not; however, cover the cost of mod replacement/repair in the event of a claim. The USAA agent I spoke to is a Wrangler owner with mods so I'm assuming she knew what she was talking about. USAA put me in touch with one of their partners, Liberty Mutual. Liberty writes policies for modified vehicles. The cost of insuring my JK through them increases by $458/yr for a comparable policy. That's almost a 90% increase! I estimated the cost of my present and near-future mods to be in the ballpark of $10k.

From reading various internet posts it seems that State Farm might be the way to go.
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Old 07-31-2013, 02:48 PM   #7
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Originally Posted by atindallb View Post
I'm with State Farm too and I've been meaning to ask about coverage while off road and if the terms change should I damage the vehicle recreationally. Anyone have experience with this?
I asked my Insurance company that same question. I am insured through AARP, "Hartford". I was told that if I get in a accident collision with another vehicle off highway, that yes I would be covered.
If I damaged my Wrangler mudding, rock crawling and or rolled it off of the side of a hill/mountain, hit a Deer/Elk, then it would not be covered, unless I added a rider policy. The added policy this year on my 2013 only cost $97.00. So yes I purchased the added policy. The added policy also includes towing. I'm not sure how they would ever get to it in some of the places that I run.

I have read some other posts stating that their Insurance company covers them wherever they are at. I SURE HOPE THAT THEY HAVE IT IN WRITING!
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Old 07-31-2013, 03:22 PM   #8
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First off, you have to read your policy. Then check your state insurance law. Typically if it isn't excluded it's covered if it's part of the car. But defective parts are usually not covered, but consequential damage caused by them typically is covered. Damage during a contest is usually not covered, so if you cream your Jeep in a race or other contest you may be SOL.

It is important also to accurately describe your vehicle on the declarations page with the correct VIN.

Again, you have to read your specific policy. If you have questions about your coverage, consult and attorney or your agent, but be sure to get the response in writing.
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Old 08-11-2013, 07:48 AM   #9
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Progressive you can get extra insurance for mods and add ons but you have to have receipts for all of it
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Old 08-11-2013, 11:41 AM   #10
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When I talked to progressive on the phone for my aftermarket mods they said they didn't need receipts actually. You just have to set the premium at whatever level you want for aftermarket stuff separately.
I set mine up at $8k and she said it was fine. Now if you have $50k in mods maybe you should be safe and get your receipts in order in case there is a dispute.
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Old 08-11-2013, 04:20 PM   #11
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Just read the fine print so you dont get burned. Or at get it in writing. Casue if it came down to it you dont want to get the well we are sorry but ______ was wrong.
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Old 08-11-2013, 04:48 PM   #12
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Just read the fine print so you dont get burned. Or at get it in writing. Casue if it came down to it you dont want to get the well we are sorry but ______ was wrong.
This is true. I will admit I didn't read it, I just went by their word.
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Old 08-11-2013, 06:40 PM   #13
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Dont know if you can read this but it right off of progressive site

Sorry about overlap doing this on the phone
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Old 08-12-2013, 05:08 AM   #14
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Originally Posted by R u s s View Post
Progressive you can get extra insurance for mods and add ons but you have to have receipts for all of it

This is the last Insurance Company that I would ever use............
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Old 08-12-2013, 06:16 AM   #15
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This is the last Insurance Company that I would ever use............
x2
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Old 08-12-2013, 08:30 AM   #16
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I'm with State Farm too and I've been meaning to ask about coverage while off road and if the terms change should I damage the vehicle recreationally. Anyone have experience with this?
I just spoke to my local State Farm agent. He explained that in the event of an accident my aftermarket parts would be covered to 90% of their value provided I had receipts. The adjuster makes the final call on the extent and value of damage meaning you may or may not get the full 90%.

However, and it's a big however, if your vehicle is totaled, the agent told me that they will only cover up to the OEM value of the vehicle. In this event you would be SOL for aftermarket parts coverage.

I asked if they'd write a policy to cover a certain dollar amount and was told they do not.

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