Hi guys, does anybody know of any insurance agencies that will insure a relatively expensive vehicle like the Ralliart/Evo for a "Stated Value"?? My Ralliart is a 2009, but I only drive it on evenings and weekend, so the mileage stays really low(right now I only have 15,000 miles on it). Therefore, my concern is that if the car gets totaled in an accident, my insurance company is only going to pay me a ridiculously low amount for the car due to it being a 2009 model, but in reality it would be worth a lot more money to me due to the low mileage and the modifications/tuning upgrades that I've invested into it. I'd love to be able to insure the car for a Stated Value of something like $25,000-$30,000, so that if God forbid the car was totaled I would be able to get enough money back from the insurance company to go out and replace everything I had lost with little or no additional out of pocket expense. Soooo, are there any insurance companies who have a policy such as this, or am I just dreaming and maybe this is all just wishful thinking about something that doesn't even exist here in the real world???

 

According to State Farm, your car is "worth" $20,500 (assuming that you have taken care of it and that is has low mileage).

You will get jack-**** for your modifications (except wheels, for some odd reason). What you want is called "gap insurance". That will cover your car up to the value of a "new" replacement. Otherwise, you are looking at $22k (total) for the car. You can tell your insurance company about the modifications, but you run the risk of increasing your premium. Plus, they will try every single thing that they can to **** you out of every dollar on those babies, so the best thing to do is pull them off.

Having a car totaled is a nightmare. The guy who hit me's insurance company tried to call me and **** with my police statement. It was a huge mess. Just hope that it doesn't happen and get gap insurance. Also, you want to have it written into your policy that replacement parts must be purchased new. Otherwise, they will try to scour junk-yards for the best deal.

 

And another thing: Stick with large insurance companies. If something does happen, you want the biggest most obnoxious company behind you. If you have a smaller or budget company, my insurance will crush yours, if push comes to shove, and you will be left high and dry. Trust me.

 

Try looking into a classic car/hot rod insurance company like Hagerty's. I don't know if you'll have better luck, but its a good place to start.

 

Great minds think alike I guess...lol! Yep, I already tried Hagerty's and they said NO....feel free to suggest other options..

 

If jlo can insure her *** for like, 50 mil from lloyds of london, you can probably insure your car for like, 10 mil. The premium would be thru the roof though lol.

 

It starts with getting the car appraised. Then tell your insurance agent to insure you for the appraised value (and pay more).

Worth it to sleep at night

 

First check if your home insurance agency will insure it for you because as you know buying together lowers both their prices. Also, if you can submit proof that you drive it for very few miles, you might be able to get a low mileage discount. May not help too much but even a little counts.

 

Allstate, because your in good hands with them