Insurance on modified trucks

For those who are lifted, who are you insured with and do they know about your mods?

I have had a hell of a time trying to find anyone who will insure a vehicle with any suspension modifications whatsoever. Are you guy's just taking the risk in having your claim denied if anything bad were to happen? I see tons of lifted trucks on the road and can't figure out who the heck is insuring them?

I've called all the big companies and they have a strict no mod policy and spoke to several brokers who probe multiple smaller companies and have had little luck with this neither. One of them said yes, but the rates were 4 times what I pay now and 3" or less only.

Second question, if you are insured and your insurance is aware of your lift, how are the rates and did they jack them up after 1 or 2 years? I heard the ones that do will often get you in, then for no reason whatsoever spike your rate out the roof after an annual review of 'higher risk' accounts.

School me please, I can't believe that every lifted truck in Ont is playing dumb and taking risks.

 

Pretty much take the risk, it is what it is. Vehicles themselves let alone modifying while we all enjoy it is a financial loss all around. everyday you drive them they loose value and you never get your money back for mods. That said I have had friends have there modified vehicles repaired before after an accident with no issue, but this was with the other person at fault. I guess if it was your fault the insurance is only liable to but it back to stock.

 

Pay it off as fast as you can! Then put the lowest legal insurance on it. The amount of money you’ll save will be a mountain of mods. BOOM.

 

So when you lift/mod a truck do we have to notify our ins that a lift/mod was done.

 

No, only if you want to cover a loss with your aftermarket goodies in case your truck gets totalled or stolen for example.

 

The asset itself is the least of my concerns. Even with a brand new 70K truck I'd be willing to take the hit on a total loss at my expense.. It's injury (or worse) to passengers, family or others in a collision, hospital costs, rehabilitation costs, endless legal fees etc.
If you were denied in this type of a claim, god forbid.. You're life as you know is pretty much down the gutter.

I've been told by several companies that I've spoken with that when an adjuster and accident investigators come out to inspect, if they see mods that are not disclosed, they have a default deny claim rule. Its all in the fine print. Insurance companies don't get rich by letting these things slide.

Is a lifted truck worth that risk?
Don't get me wrong, I realize the likelyhood of this happening is very low, but with kids and family, I can't play russian roulette with that.
My younger days as a nomad, sure I wouldn't give a crap, but I think differently now with a young family.

Just wanted to know if anyone out there has disclosed their mods to their insurer and would LOVE to know who you are with!

 

They just won't pay for mods....however you can insure certain modifications and they will be covered...maybe certain companies. Premiums will ofcourse be higher

 

Gents, you're in the Canada forum, our laws are different up here. No idea how it works south of the border.
My questions and purpose of this thread are specific to vehicles in the province of Ontario.

 

Yep. Most insurance companies will cover aftermarket rims and wheels. Bumpers, and such can be covered too but best to check watch your insurance company will cover....for a $

 

I sure don't want that to happen. Thanks

 

Whoops, that changes things...... Might be interesting to see how different your insurance companies deal with aftermarket things

 

I agree, sounds to me like you already have your mind made up from your above statement, your not willing to risk anything so stock sounds like best option for you and no need to worry about additional insurance.

This is pretty much the same for me with my truck insurance, since I own a business my personal line told me they would deny claim if I got into and accident and had tools for work in my truck. Leads me to have to purchase a commercial line that's double the personal line of insurance..same truck and only me driving it. At the end of the day its all a ploy to get more money in there pocket, they don't care about you or me no matter how much we pay or which policy we have.

 

Here in Alberta, I have no issues. That said, I only have Bilstein 5100s to level the truck and nice rims/tires. Last time I talked to my broker, they said to keep receipts and invoices for all the aftermarket work done, and there would be no problem being at least partially covered for the replacement.

The biggest issues would arise if your mods were deemed to be the cause of the accident and could be proven to affect your vehicle's safety. Having a professional shop install properly designed and engineered parts would negate alot of the concern. Installing a 14" spacer block lift yourself in your driveway would likely result in a denied claim.

 

I just carry over and above what I have in my lift and wheels. Tires not so much because I will need new ones like ever 3 to 4 yrs. So basically told my insurance guy I want 4k on my policy over and above wht the truck is worth. Because if I where to get I to an accident I want my truck back the way it is. If it's not totalled. but also want that money to get a new one and set it back up.

 

Are they aware of your lift?
Who are you insured with?

 

Well I did only say after market suspension parts. But I think they get it lol. I hope any way. But I'm with gieco.

 

The asset itself is the least of my concerns. Even with a brand new 70K truck I'd be willing to take the hit on a total loss at my expense.. It's injury (or worse) to passengers, family or others in a collision, hospital costs, rehabilitation costs, endless legal fees etc.
If you were denied in this type of a claim, god forbid.. You're life as you know is pretty much down the gutter.



O really think they would have to prove that the reason for the accident was caused because of an after market part. I could see if a part had broke and caused you to hit someone they would throw it completely out but other then that I dont see how just my looking at a truck amd say nope your truck is lifted so we are not responsible for the injuries that was caused by this accident . I might be wrong but that doesn't sound right.

 

Insurance companies in Canada ask you when setting up a policy 1.) Is the vehicle modified.
So if you do not disclose it, thats a check mark against you.
Furthermore, if you ever were in an accident and went down the rabbit hole of "prove that the lift caused the accident", you know well that they will pull the "prove that it didn't cause the accident" card.

 

I guess Canada is different. If it was like that in the USA there would be a bunch of uninsured people... even the dealers sell them modified.... My nephew totaled his lifted GMC Sierra and he got money for his modifications, not full price , but he got something. He didn’t notify his insurance company after h lifted it.