Auto Insurance

Yeah I agree. I actually know someone that needs to renew their insurance this winter and they are going to them because of their insurance ever found out he lowered his car, changed exhaust, etc they would cancel him. Going to cost him more but he also can insure it for what he has into it and not what the little black book says which is also nice.
 
TrueBlue02058 said:
That is good news, cause a lot of them won’t insure you once they find out a car has been modded.
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True story, I called my insurance company back in 2007 or so and said I was thinking of modding my S197. They wanted to know why I wanted to mod it, I said to increase performance and safety and they flat out said I was modding to street race. No threats of cancellation, but they were insistent I was building it to break the law. What the hell do you say to that....really?

Flip side, I asked if I bought a factory supercharged GT500 with 200+ more horsepower than my GT, would that be ok? They said yes. Apparently I wouldn't street race a factory hot rod. lol

Your insurance policy is written for a stock , known configuration. You mod it, you are essentially committing fraud, and they have the right to deny coverage because the car that was damaged was not the car that was insured.

Biggest joke is that you can have a 700+hp GT500 and its all good.

Not to be a dick about it, but its so hypocritical its not even funny, but god help me I kind of get it.
 
So I think the insurance company should get off their ass and look at the cars and make their own call on insuring you. So what if it is lowered an inch. Does that really change things. Probally a lower risk in fact.
I am not sure if they looked at if it would make a significant difference.
On a non-car front I spoke to a body shop owner about his issue with insuring his building. He bought a building and needed insurance. The insurance co came and looked at it and insured it. With heavy snow on the roof the trusses started to sag. He called the insurance co and they said they would not cover it. What are they good for if they don't cover what you need. Sounds like Rogers insurer.
OK enough ranting.
 
Think the Insurance business is not very well regulated ??

Reasons given to me as to why Meloche Monnex and the Personal would not insure my Mustang were first you have a body kit which means it is modded and second they said they didn't insure vehicles that attend "Car Shows" ?? And no talk here about Superchargers either !!

Weird as I would think that if you take your ride to "Car Shows" it must mean that you are proud of your vehicle and take extra care of it ??
 
When I bought my 01 BULLITT, 10 years old in 2011. It had 102,000 miles and I paid $10,900. I had it appraised and appraiser gave it a value of $15,000 plus tax. In documentation he gave me, he noted that the Black Book value was only $2,900, cause the Black book does not list the different models (V6, GT, BULLITT, Convertible ect. First five years I insured along with my Daily Drivers with Wawanesa. I sent Broker a copy of Appraisal as well as the Bill of sale, and they told me that in the event of a total loss, that I would receive an amount somewhere between the bill of sale and the appraisal. As soon as the car turned 15, I went with Hagerty. The agreed value for replacement is $16,300, plus tax, the last appraised value in 2017. What I like about Hagerty and my local brokers, Gary Steeves Insurance, is that they are Car Guys ?
 
Not sure if people want to say or not but I will.
My Mustang is $867.00 a year for replacement cost
I leave insurance on it all year round.

What is funny is, it was $6.00 more than my 08 GT/CS
which to be honest shocked me, I thought it was going to be pricey.
Being the first one in Canada made it a challenge.
It was not in insurance companies data base yet, it took a few days to get insured.

I will have to have appraised this year to get replacement cost.
 
Those are great rates guys, I pay just under you Trevor and do not have a ride like that !! Man they are all over the place !!

Funny just reading this and better half reading something about how everyone's residential Insurance rates are to go up quite a bit this year in N.B. Nice !!!! Just what we need....................Frigg I'll never be able to retire. lol
 
Fun GT said:
Those are great rates guys, I pay just under you Trevor and do not have a ride like that !! Man they are all over the place !!

Funny just reading this and better half reading something about how everyone's residential Insurance rates are to go up quite a bit this year in N.B. Nice !!!! Just what we need....................Frigg I'll never be able to retire. lol
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I am on the freedom 90 plan :p
 
Mcdavis said:
It seems to be that all of the insurance goes up every year and they always have a good excuse!
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they have an excuse, one could argue how good it is. I believe companies should make money
but banks and insurance companies are making billions per year. Also our Gov regulates
so which controls who can bank or offer insurance in Canada. Seems win win for
Insurance or banks.
 
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