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My 2002 build is finally done and I got a nasty shock when working to add the $5k in custom parts to my insurance coverage. I have been with Progressive for 15 years.

I have full coverage on this Jeep (collision, comprehensive, liability, blah blah) at about $200 every 6 months. Telling them I want to add the parts and set the overall value of my ride at $15k (KBB value plus parts) jumped my bill up to $1,000 every 6 months.

I called BS on that and I have an identical coverage quote with Allstate for $350 every 6 months. But before I sign on that I figured I would query the community and see what your experience has been.
 

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$5,000? So you put a lift on it?

Unfortunately insurance companies aren’t stupid, and if you were to get in an accident, and they deemed the jeep a total loss, they know you will remove aftermarket parts if able, that you are associating value to.

What does this $5k upgrade list include?
 

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My insurance covers a certain amount of aftermarket equipment. The way I look at it most of my aftermarket parts deprecate rapidly and are worth 10% to 20% of what I paid for them. The only exception are my D60s which may be worth up to 60%. I have a GPS tracker and a Ravelco. The highest value item I have in my Jeep is my time and that I cannot get back.
 

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Used parts depreciate rapidly, 50% in the first year, near worthless after two years. Unless you live in a very high theft area with little vehicle protection, like a garage, think about saving the extra premiums for the next round of modifications.
 

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Used parts depreciate rapidly, 50% in the first year, near worthless after two years. Unless you live in a very high theft area with little vehicle protection, like a garage, think about saving the extra premiums for the next round of modifications.
Yes, high theft. I lost my first TJ that way. Yep, I will cop to being paranoid.
 

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Insurance didn't ask for an itemization.. no its not all lift.
4/9/21 I dropped $4600+ getting 2.5 in Teraflex Suspension lift PLUS 35s from 33s and upgraded Stock Willys rubicon shocks/wheels for Bilstein front/rear shocks installed! HAMM'S Offroad has the best reputation in all things offroad in the.valley!
 

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4/9/21 I dropped $4600+ getting 2.5 in Teraflex Suspension lift PLUS 35s from 33s and upgraded Stock Willys rubicon shocks/wheels for Bilstein front/rear shocks installed! HAMM'S Offroad has the best reputation in all things offroad in the.valley!
Welcome to the forum.
OP is an insurance question.

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Used parts depreciate rapidly, 50% in the first year, near worthless after two years. Unless you live in a very high theft area with little vehicle protection, like a garage, think about saving the extra premiums for the next round of modifications.
The whole point of insurance is to "make you whole" after an accident. The value of a vehicle will be based in it's used, and the used car market.

Parts, on the other hand, there's no market price to go find a used Genright rear bumper that's been in a Jeep for 12,000 miles. The only option is to buy new. Insurance isn't going to calculate depreciation, they'll ask for invoices and estimates and pay for new.

I've ran through this question with USAA, and they said all of the aftermarket stuff would be a separate homeowners claim.

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4/9/21 I dropped $4600+ getting 2.5 in Teraflex Suspension lift PLUS 35s from 33s and upgraded Stock Willys rubicon shocks/wheels for Bilstein front/rear shocks installed! HAMM'S Offroad has the best reputation in all things offroad in the.valley!
Welcome to the Forum FlightRN77,

Good Luck, L.M.
 

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My 2002 build is finally done and I got a nasty shock when working to add the $5k in custom parts to my insurance coverage. I have been with Progressive for 15 years.

I have full coverage on this Jeep (collision, comprehensive, liability, blah blah) at about $200 every 6 months. Telling them I want to add the parts and set the overall value of my ride at $15k (KBB value plus parts) jumped my bill up to $1,000 every 6 months.

I called BS on that and I have an identical coverage quote with Allstate for $350 every 6 months. But before I sign on that I figured I would query the community and see what your experience has been.
GEICO tried to raise the rates on my XJ years ago. They actually sent a guy out to look at the rig. I'd been a GEICO customer for 25 years. So my response was OK, drop the full coverage. Flash forward 15 more years and I'm still with GEICO (I'm lazy, should shop around). Now they make me sign a document saying I'm not claiming any extras on my JKU more than the stock JKU. You know what the best insurance is? A dashcam. Odds of me causing a wreck are very small. I'm sixty-five and have been driving since I was 12 without a single claim (12-15 I drove offroad). I'm about to cancel my comprehensive insurance and go with just liability on a 2015 JKU. If they're not insuring my extensive add-ons don't I get to remove the parts and sell them if they aren't part of the insurance package? It's not clear to me.
 

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Discussion Starter #13
If they're not insuring my extensive add-ons don't I get to remove the parts and sell them if they aren't part of the insurance package? It's not clear to me.
Years ago when Progressive totalled out my TJ after a theft situation they wouldnt even let me take my custom license plate holder because it was "affixed to the vehicle".

The info from other posters about homeowner's insurance is compelling. I always have associated that coverage with things happening there at the homestead only. But I have signed on with Allstate with the extra coverage and pulled all my vehicles from Progressive since they decided I would lose my multi car discount (somehow, that was a 40% discount?) for pulling one of my three vehicles. So shady!
 
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