Quote:
Originally Posted by Typecast
I have Esurance and there is an option to add aftermarket coverage, you pick the amount of money you want to insure it for and they right it up. Super easy but in my opinion alittle pricey, I got a quote for adding another 2-2500 in aftermarket parts and it raised mine something like $100 a month. so i would imagine that adding 10,000 would get up there.
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Here's another gimmick the insurance companies use to lure people into paying higher premiums. If you read the fine print "aftermarket coverage" only applies to the aftermarket items you declare on the policy. It DOES NOT increase the insurance companies liability in the event of a total loss!
In plain english this means if your rims get stolen, they'll pay you the value of the rims.
If you entire car get's stolen, they pay you the ACV (Blue Book, whatever you want to call it) of the car only, NOT the value of the car + afermarket equipment. What's worse, if your parts are stolen and they add up to more than the value of the car.. guess how much they pay you? That's right, UP TO the ACV of the car.
It's sneaky. If in doubt, have someone who works in law read the contract before putting faith in these types of coverages.
Plain English folks, the only way you're going to have actual coverage for a specific value is with an AGREED VALUE policy.