insurance legalities
#1
insurance legalities
I'm sure a discussion has been posted like this before but I didn't really find exactly what I was looking for. My question is this... When someone is calling for insurance for a car they ask if you have upgraded your stereo system and have added things such as rims that would increase the value of your car. If you have then you pay an extra premium on the car for these upgrade.
Supposing however someone has an older car and something such as an engine needed to be replaced but parts were too hard to source. Is the owner of that car allowed to change out the engine for something that fits and still be covered under his/her policy? Is this considered a modification regardless of the fact it does improve performace? I'm not necessarily talking about stuffing a prelude motor into a civic or anything like that... what I'm getting at is at what point do the policy holders have to let the insurance company know the changes that are being made?
Any knowledge on this subject would be greatly appreciated...
Supposing however someone has an older car and something such as an engine needed to be replaced but parts were too hard to source. Is the owner of that car allowed to change out the engine for something that fits and still be covered under his/her policy? Is this considered a modification regardless of the fact it does improve performace? I'm not necessarily talking about stuffing a prelude motor into a civic or anything like that... what I'm getting at is at what point do the policy holders have to let the insurance company know the changes that are being made?
Any knowledge on this subject would be greatly appreciated...
#2
after you rebuilt or changed a motor... it is your duty to report to the MTO with proper documentation to update your vehicle information.... after you done that, then it is fully something legal and insurance can't consider that as illegal modification, but if your car is improved in terms of anything (more hp), then insurance will adjust as well.....
but most people don't report anything to the MTO anyways... and unless insurance agents stalk you, they won't know what you done under the hood (most of the time...)
but most people don't report anything to the MTO anyways... and unless insurance agents stalk you, they won't know what you done under the hood (most of the time...)
#3
if u replace ur motor with something of the same displacement 1600cc etc... it doesnt matter if it hads more hp u wont be in trouble but if u start replacing it with a bigger motor u will have trouble from inusrance and police from wat i hear now.
#5
What about things like rims, stereo, shocks/springs....Is it that necessary to tell the insurance company? I know it won't be reimbursed if my rims get stolen and I haven't told the insurer, but would they get pissed about it?
#6
the more stuff u put on ur car the higher the chance of them dropping you out even if your paying a higher premium because now ur falling into the high risk category of theft.
ur better of with collectors insurance for collectibles if ur going to let them knwo anyways.
ur better of with collectors insurance for collectibles if ur going to let them knwo anyways.
#7
well the only reason i wondered this is for those ppl who buy cars and swap engines... if they were ever in an accident say and hurt other ppl would insurance still cover it? Or would then not b/c it wasn't exactly what was in yer policy?
#8
You have two reasons...tell the insurance about EVERYTHING and pay a higher premium but have the security of them replacing anything that is stolen or lost in an accident (from the one year of insurance I did I learned that subwoofers or amps that are actually bolted to the car are considered part of the car and will be replaced if they know about it, also they give you money for as many cd's as your cd player/changer can hold.) OR, don't tell the insurance about anything, don't pay the higher premium, pay out of your own pocket if anything is stolen/lost in accident.
#10
Originally posted by shlammed
You have two reasons...tell the insurance about EVERYTHING and pay a higher premium but have the security of them replacing anything that is stolen or lost in an accident (from the one year of insurance I did I learned that subwoofers or amps that are actually bolted to the car are considered part of the car and will be replaced if they know about it, also they give you money for as many cd's as your cd player/changer can hold.) OR, don't tell the insurance about anything, don't pay the higher premium, pay out of your own pocket if anything is stolen/lost in accident.
You have two reasons...tell the insurance about EVERYTHING and pay a higher premium but have the security of them replacing anything that is stolen or lost in an accident (from the one year of insurance I did I learned that subwoofers or amps that are actually bolted to the car are considered part of the car and will be replaced if they know about it, also they give you money for as many cd's as your cd player/changer can hold.) OR, don't tell the insurance about anything, don't pay the higher premium, pay out of your own pocket if anything is stolen/lost in accident.
I just wonder about liability... if Roacho2's friend that smashed up his accord drove into someone and say put someone in a wheel chair or something like that typically insurance would pay out ... in this case if they didn't know he had a much faster engine and they found out does that mean his policy is void b/c they didn't know?
#11
You could get screwed like that, yes. You can also get screwed if you rear end someone and your car is lowered. I know a few people that were told to **** off but their insurance companies because they said if the car was stock height there wouldn't be so much damage. It all depends, read your policy.
#12
that's the odd thing.. I went over my policy and it mensions NOTHING .. it just explains like different coverages, what liability is etc... it's odd it doesn't get into modifications of any kind.. I really don't wanna call and ask either.. I dunno if calling the MTO would be of any benefit...
#17
would they actually test the displacement of a motor though? what are the possibilities i could say i de bored/ de stroked an h22 to 1.6L?
and also what about turbo? the displacement remains the same just has a weird looking thing hangin off the header?
and also what about turbo? the displacement remains the same just has a weird looking thing hangin off the header?
#18
they wont go that intense into an investigation unless police required (ie. racing and killing someone) but common sense still applies. if the original motor was a 1.6 and now u have a 2.2 and got into an accident with another car due to excessive speed etc... you will not be insured.
also you are endengaring urself by modifying a car with a motor that wasnt meant to be in that car ie. structural safety concerns etc...no matter who installs the motor and no matter how safe it is. unless a minimum of 10 crash tests have been done to a car similar to the same mods u might have and get approved by dot you dont have a case.
also you are endengaring urself by modifying a car with a motor that wasnt meant to be in that car ie. structural safety concerns etc...no matter who installs the motor and no matter how safe it is. unless a minimum of 10 crash tests have been done to a car similar to the same mods u might have and get approved by dot you dont have a case.
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Richy
Traffic tickets, accidents, insurance
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20-Nov-2007 08:28 AM