Where to insure high H.P modified cars?

[Super_Steve]

im getting the run around on this. Car has just been appraised, its a Modified civic with around 300 hp. alot of places are either trying to put me into a high risk bracket even though i have never had a ticket or accident or are just plain old telling me that they wont insure the car.

Wheres everyone insuring theirs? Or did you guys forget to call your insurance company when you did the modifications? Are you clean drivers record people in high risk as well?

[rage2]

Meloche Monnex. Appraised, 500hp Porsche. No problems, no "high risk".

How old are you? How long have you had insurance?

[GTS Jeff]

Originally posted by rage2
Meloche Monnex. Appraised, 500hp Porsche. No problems, no "high risk".

How old are you? How long have you had insurance? :werd: I spent like an hour listing out all my mods for them and they were totally cool with it.

To get in with Meloche Monnex you need to be a part of some sort of professional group or alumni or something though.

[GoChris]

dont you also need a clean record too? probably the reason i havent called em =\

[Aleks]

Thats odd when i asked them what would happen if i turboed my car they said they would drop me! :eek:

[CalgarySupra]

just insure it normally.

[ninjak84]

Originally posted by CalgarySupra
just insure it normally.

^^Do not take this advice!

I'm under Meloche Monnex too.
Maybe check out Godfrey-Morrow if you're stuck?

[rage2]

Originally posted by CalgarySupra
just insure it normally.
Read my AMA insurance horror stories and you'll realize that's the dumbest advice to give if your insurance company decides to be a bitch about things. Long story short :

1. I get rear ended (not my fault)
2. AMA (my company) handled the claim
3. AMA refused to pay and wanted to drop my insurnace because I had Koni Yellows installed.
4. Koni Yellows are considered a racing item.

Only took 2 months to fight them so the guy at fault could pay for the damages.

[iceburns288]

Originally posted by rage2
500hp Porsche

500hp? Bah!










Probably more like 600:burnout:

[JAYMEZ]

Hrmm , I wonder if i should change my insurance company , im with the Co-operators , and i have a highly modded car...

[tsi_neal]

Hmm im seriously thinking about calling my company now...

I mean id hardly call my car highly modified... but at the same time it sure isnt stock (koni yellows, lowered, poly, swaybars, bigger turbo, and a few odds and ends, and it is an autoX car. that in itself would likely piss off the ins co to no end)... Kinda makes me wonder if it would get me in trouble or not.

[AllGoNoShow]

You do know no insurance company and legally deny you insurance right?

You need insurance to drive and they have to provide it, the price may be through the roof for exptras and on the grid if your bad, but they can't deny you insurance just because.

[Weapon_R]

Originally posted by AllGoNoShow
You do know no insurance company and legally deny you insurance right?

Couldn't be further from the truth.

[rage2]

Originally posted by AllGoNoShow
You do know no insurance company and legally deny you insurance right?
Under the new reforms, no insurance company can deny you PLPD coverage at affordable rates. They can deny you comprehensive or price you out completely.

However, if you lie or not disclose modifications, they can deny the claim regardless of who's fault it is. Read the fine print in each policy.

[AllGoNoShow]

According to the gov website and my insurance company when they tried to pull that on me, I was right.

I told them I was going to mod the Camaro and drive it in the summer only and they said we would cut the insurance on it. I went and told them you can't legally deny my insurance when I have had no accidents or tickets or convictions correct? and he said yah thats true, but I can charge you more for the extras, and I agreed. Thats straight from the insurance company.

[AllGoNoShow]

Originally posted by rage2

Under the new reforms, no insurance company can deny you PLPD coverage at affordable rates. They can deny you comprehensive or price you out completely.


Yah thats what I ment, can't deny but can charge through the roof.

[rage2]

Originally posted by AllGoNoShow
Yah thats what I ment, can't deny but can charge through the roof.
Only for comprehensive. You'll still get cheap PLPD.

[AllGoNoShow]

Yah becuase PLPD is on the grid now if I understand right and comprehensive isn't so there isn't as much juristiction over the comprehensive part as their is the grid. If that makes any sense:dunno:

[XylathaneGTR]

Originally posted by rage2
Meloche Monnex. Appraised, 500hp Porsche. No problems, no "high risk".

How old are you? How long have you had insurance?
How? Meloche Monnex FUCKED ME right over on my 240sx.
My dad is an apegga member, and have had a policy with them for 30 years, and only 1 claim (when my sister wrote off his old beater.) and today, when i mentioned SR20, FMIC, and 17" wheels, they told me that "My car couldn't qualify for their standard insurance, and they had to transfer my policy to a seperate company that they use for 'those types of situations.' The lady i was also talking to couldn't directly quote for them, but she told me that 'It is very likely my premiums will rise.'"

My car doesn't even make 'that' much power...How did you get them to insure you? I'm a 'new' driver, but under my parents policy number w/ their full consent.

Can you please PM me re: info?
Thanks

[Toms-SC]

rage2: Who exactly (name) is your insurance dealer at Meloche Monnex? Seems like they will insure if you talk to the right person on the right day.

[rage2]

I just called in and talked to anyone. They referred to a manager, and it got approved. I have no clue what their names were because it was so simple for both my cars.

Provided appraisal, a CD of my entire buildup process, receipts for everything, and that was it.

[sputnik]

Originally posted by XylathaneGTR

How? Meloche Monnex FUCKED ME right over on my 240sx.
My dad is an apegga member, and have had a policy with them for 30 years, and only 1 claim (when my sister wrote off his old beater.) and today, when i mentioned SR20, FMIC, and 17" wheels, they told me that "My car couldn't qualify for their standard insurance, and they had to transfer my policy to a seperate company that they use for 'those types of situations.' The lady i was also talking to couldn't directly quote for them, but she told me that 'It is very likely my premiums will rise.'"

My car doesn't even make 'that' much power...How did you get them to insure you? I'm a 'new' driver, but under my parents policy number w/ their full consent.

Can you please PM me re: info?
Thanks

You are probably best to get a 3rd party appraisal of your car. Faxing them a copy of it is much more acceptable than just listing off all of the parts you have over the phone.

[rage2]

Oh ya, from what I can remember, they ask a list of questions when you tell them that you modified your car. It was the "Does the car make more than 10% of it's original power" question that required manager's approval. Then the manager came on the phone, asked how much more power I'm making, I told him about 250-300% more, he said "must be fun" and approved me lol.

[Super_Steve]

im half way done my program at nait so after that i can get in with meloche monnex. In the meantime i have done a bit of calling and have only found one place that will insure me with my modifications.

I have been quoted 2776 a year for full coverage. 2325 for no collision. Thats based on a 20K value on the car.

Hopefully i can find a more reasonable insurance company soon.

[XylathaneGTR]

So i mentioned to meloche i had a couple modifications (They wouldn't even let me EXPLAIN all of them, or even run off the list of what i had done.)
Orig Quote : Stock 1991 240sx. = 2,913.
New Quote: Modified 91 240sx. = 7,048.
Yes, they almost TRIPLED my premiums because i told them that my engine makes 47 horse power over the stock engine, and i have 17" wheels.

Hoo-ly shit!
:eek:
Any suggestions on what i should do?

[rage2]

What's your age and driving history like? I'm 30, insured with them for 6 years now, and no tickets or accidents. My premiums did NOT go up at all.

[69cougar]

Maybe rage2 with all his income from Beyond advertising could start:

Beyond Insurance

"When your insurance coverage is beyond the norm"

:rofl:

[Super_Steve]

im thinking the reason why rage2 and a few others i know with modified cars are paying decent insurance is because they got their insurance before the new changes came into effect last october.

From what the insurance companies have been telling me they changed rules so that they can refuse to insure you if your car is modified or if they do want to insure you they can put in you a high risk market. I think they called it the residual market if i remember correctly.

While i dont recommend you lie to your insurance company please be prepared for an extremely increased premium or loss of insurance with them if you do.

[XylathaneGTR]

Originally posted by rage2
What's your age and driving history like? I'm 30, insured with them for 6 years now, and no tickets or accidents. My premiums did NOT go up at all.
Yeah, im 18, newly licensed, and no insurance history before,
I know that has a fair amount to do with it, but to raise my premiums rise by 2.5x, just because of a few mods to my car?
Craaaaaaaazy.

[rage2]

Originally posted by Super_Steve
im thinking the reason why rage2 and a few others i know with modified cars are paying decent insurance is because they got their insurance before the new changes came into effect last october.
This is not true. I added a modified car to my policy after the reforms were put into place. Besides, the reforms were for PLPD only, it doesn't affect comprehensive.

Originally posted by XylathaneGTR
Yeah, im 18, newly licensed, and no insurance history before,
I know that has a fair amount to do with it, but to raise my premiums rise by 2.5x, just because of a few mods to my car?
Craaaaaaaazy.
Uhh, that might be why. Try to insure a stock 200hp car like an RSX, I'll bet you the exact same thing would happen to your comprehensive rates! It's not the mods that's killing you, it's your power level.

[Super_Steve]

Originally posted by rage2
[B]
This is not true. I added a modified car to my policy after the reforms were put into place. Besides, the reforms were for PLPD only, it doesn't affect comprehensive.


Ya your right, i did some more digging into it. This has always been a problem with some companies when it comes to modifications.

I did end up finding a place that would accept me. Its more money but about 300 of that is for the increased comprehensive due to the fact that its worth more money and that i hae the SEF 19A endorsement on my policy so that they cant depreciate the value of the car should their be a total loss.