My insurance company has sent me paperwork stating that if I have any modifications done to my car, I need to report them if I plan on having them covered in the event of an accident or break-in. Without disclosing this information, they say they can't guarantee they will pay for any damage done to it. They gave me a check off list with items on it such as LOJACK, RUNNING BOARDS, ALARM SYSTEM, STEREO SYSTEM...... My question is, are they just trying to raise an already prequoted price for my insurance by adding additional fees for my mods? Thanks for the help.

 

what insurance do you have?

 

Well, it depends.

Having a Lojack (or an aftermarket alarm system) will decrease your insurance premium (price quote).

A high quality stereo system will increase your price quote, just because it increases the chance of your car getting breaking in. Therefore (if it's covered) the insurance co. would pay for it.

Basically, insurance companies would increase the premium on stuff that could have resell value on the streets.

VisualFX

 

GEICO