Insurance for Customized Vehicles
So, you want to trick out your new ride. Maybe add a new set of shiny rims and tires. And a spoiler would look nice. How about lowering the vehicle a couple of inches? When you’re all done, you’ve spent hundreds if not thousands of dollars for your customization.
But what happens if your new add-ons are damaged or stolen? Will you auto insurance policy cover the loss?
If you have a standard auto insurance policy, the answer would be “no.” The standard auto insurance policy does not cover any modifications to your vehicle. However, most insurance companies can cover your customized vehicle with special endorsements to your policy (you’ll have to pay a little more premium for this coverage).
If you have modified your vehicle and would like to make sure your insurance policy covers the customization, check with your insurance agent.
Is Your Car Covered for Tsunami Losses?
You may be surprised that the answer is “yes!” Although most propety insurance policies exclude flood losses (a tsunami would be classified as a flood loss), auto insurance policies do not have a flood exclusion. So, if a tsunami damaged your car, your auto insurance would cover the damages. You would have to carry the comprehensive (also known as “other than collision” ) coverage for the damages to be covered.
