Truck modifications and insurance

This is the first truck I have cared enough about to do some real modifications to. How do you guys insure your trucks? Do you have a rider to cover the extra parts?

 

I've just kept all the receipts of everything I've put on my trucks. If anything happens I have proof of what I bought and installed and the actual price of said items instead of what the insurance company thinks it's worth or what I spent on it.

 

Agree with @Baja Mike. It works. They also need pics too but us sickos have more pics of our tundras than our chicks.

 

I brought reciepts to my Ins , they took pics of my truck and I added 7k extra in coverage to my truck 3 weeks ago.. I pay $11 more a month for it but it's piece of mind for me.. so I know what I put into it will be covered no matter what.. sometimes if someone hits you, there ins will only want to pay for original parts and you will have to file a separate claim with your own ins to cover rest. But either way

 

I did the same thing with my Tacoma. the interesting thing though, is that sometimes the OEM parts are more expensive than the aftermarket parts. for example, the stock upper control arms cost more than the total chaos upper control arms (go figure). so, on average, with stock-to-aftermarket replacement, you could come out about even. But if you added equipment onto your truck that is not part of the original equipment (body armor for example), then its totally worth paying extra for insurance to cover those items.

 

Do what your wallet can handle. If you want to run the risk of not being reimbursed for the parts you throw on it, then don't adjust your insurance and run liability.

 

Yea, piece of mind mostly

 

I'm glad I found this thread. I was searching for a platform to preach.

I've been in automotive claims for a number of years now and the one common theme that I see among truck owners are modifications. Either its a light bar, lift, topper, or any number of combinations.

When it comes to insurance losses, most policies have some CPE/ACCESSORY limit built in at no additional cost. That limit is around $1000. When you toss a set of wheels and tires on your truck you may have blown through that like a cheap facial tissue.

Call your insurance provider and see what that limit is and buy the right amount of coverage. If your vehicle is a total loss you'll probably get market value for those items, not what you paid. When your vehicle is repairable you don't want to be in the "we ran through your coverage so we owe you the next most cost effective part" conversation. That generally means 3 aftermarket wheels and tires were covered and you get the 4th stock wheel and tire. It's a classy look.

Finally, make sure your truck isn't too lifted. Most carriers say that 3-6 inch lifts and higher constitute an uninsurable risk. They might pay that claim but drop you right after.

 

Is that only if you're at fault? I was in an accident where I was not at fault, and my insurance company paid for over $5k in aftermarket parts to be subrogated at a later date.

 

Not sure my insurance would believe me cause my aftermarket parts are as much as the truck is worth.

 

I added 10k in aftermarket INS for my truck. I think I pay $35 a month extra

 

What’s up loc @GNTundra

 

Lol same here.. just trollin

 

Lmao in the lot

 

Good info...

I’m an insurance agent and most recently saw a claim of a fellow agent where client called in with hail damage to their fiberglass bed cover.

They asked the agent if they were covered, agent said they were covered under comprehensive coverage and then come to find out the claim was denied because the bed cover did not come factory.

So I also suggest putting some sort of insurance on your parts like that. Like others have said, replacing a wheel or UCA or something, OEM stuff is going to be just as expensive. But sound systems, bed covers, light bars, etc are things to watch out for...

 

If you use the other insurance company to handle your damages when you're not at fault then the only limit they have is the state minimum liability insurance required.( Different state laws dictate who pays for what)

Normally in a small crash you're fine, however if someone totalled your 40k truck and they only had bought 15k in coverage you're forced to use your own policy (with your custom part limits). Your insurance then collects from the at fault party.

I've seen that process take years. If you think about it, if they can't afford enough insurance and have no assets then the well is dry and you're screwed.

 

I just completed my auto insurance renewal negotiations. Both of my Unicorn Tundra trucks are insured for high replacement values, plus the value of mods & upgrades. The total additional cost is about $36.00 a year.

 

I’ve had to go through proper coverage with different insurance providers over the years.

With State Farm on my 2012 Tundra, I had a separate policy on my aftermarket stereo. It was definitely a good thing since my truck stereo was stolen. So my insurance covered all the parts and labor. I had all my receipts from labor to install. If I had installed the stereo myself, I don’t know if the insurance would have covered the labor cost or not.

With Farmers I pulled a separate policy for my aftermarket parts. The draw back was they cap the total coverage at 10k. But it covers lightbars, wheels lift and everything else. It good to know some of my aftermarket stuff is covered.

 

Yep... 4 years and 2 court appearances later, I still don't have my deductible and my insurance company doesn't have a dime of their $30k repair bill.
What a world that we live in that you have to get "under-insured insurance"

 

People suck. There is very little accountability with anyone in my line of work.

 

Spot on. I’m an agent with Farmers, and although I don’t think it’s a separate policy, it’s just an endorsement, it will pay huge dividends in the long run should anything happen.