jackmugen02

Hello

I was wondering what big name insurance company would cover a S2000 with a lot invested in it. Allstate says just keep receipts and pictures and they don't up the premium. Statefarm says they won't cover any mods and require pictures of the engine to see if they can even insure it. I can't use hagerty.


PS. small list of mods
Vortech S/C
oem hardtop
stereo
coilovers
wheels
brakes
header/highflow cat/exhaust
wing

Thanks.

TheMuffinMan

Geico had no issues adding $12k additional coverage to my '96 Accord for modifications provided I had receipts proving what I paid for items. I believe it only added $100 to my premium per six months. This also only applied to items directly bolted to the car and not random extras.

I've heard of some insurance companies requiring you to have an appraisal done on the vehicle and use that as the reported value.

*edit*

Given this post though, https://www.s2ki.com/s2000/topic/946...d-into-a-tree/

Where you mention this: "The car only had comprehensive insurance so this is all out of pocket." and "I hope to turn it into a daily drivable car but since I'm finally getting around to getting my license, it's going to be a hard learning experience as it's my first car also."

I assume you have full coverage by this point.

jackmugen02

State farm thought my car was a race car with NOS or something, but after calling the agent again and explaining the car's mods they are looking into it again. I also asked the possibility of listing it as a show car. Allstate premium is almost twice that of state farm though and I might have to go with them for now.

Grundy looks like a great option but I don't have a daily driver yet.

I'm a licensed and fully insured driver now and had no problem driving the s2000 once I got it rolling. The stage 3 exedy 6 puck clutch kit will be swapped out soon though.

JackS

Talk with your agent about the added cost for the hardtop only. I think the rest of your mods will be considered irrelevent by your insurance company, except for perhaps the SC which you may be better off if they havve no knowledge of. Probably better you assume the risk of this part yourself.

s2000Junky

As far as they know its bone stock and my rates reflect this, so I’m taking a risk should something happen. But I’ve been doing this for many years so just put that out of my mind and enjoy the car as I normally would and hope someone doesn’t take me out. I would be seriously heart broken after all I have invested, custom body work I would never want to recreate again etc. I'm just afraid my insurance premiums would go through the roof and even if I needed it, I would have a hard time getting what I have done covered and replaced, so its a calculated risk I guess. I just dont like payng for insurance, but I want to be legal.

JackS

I added a HT and never informed my Ins. co. so I'm not really sure what would happen if the car were declared a total loss. They might cover it but would be within thier rights to deny. So it's maybe maybe not. I assume this risk.

s2000 or 240sx

If you can get grundy worldwide I highly recommend them. I have a classic car and my S2000 covered for under $600 a year total with grundy. I have 20k of extra coverage on my s2000.

erikvanden

With the mods you have I don't really see it being an issue unless the car is stolen or something. Even if you get into an accident I doubt those aftermarket parts would be damaged. Worst case in an accident is your car is salvaged and you buy the car back from the insurance company to get your aftermarket parts.

Just my 2 cents.

jackmugen02

I was just told by my local allstate agent that they only cover modifications up to $1,000 oem or aftermarket. For the past 4 years I've always been told by my allstate agents to take pictures and keep receipts of the work done to the car incase something happens. Allstate uses Hagerty for their classic and modified car policy's. I'm not eligible for Hagerty since I only have one vehicle, you have to have another vehicle as your daily driver for hagerty or grundy insurance.

I called up State farm for a agreed value policy and was told by their underwriter that the S2000 isn't a collector car as too many were produced to the US in 2002(my model year).

I now have to call up American Modern, Liberty mutual and Farmers insurance on Tuesday and try to get a agreed value policy with someone. I have to deal with this right when I want to bring my s2000 in for a lot of work, it barely runs at the moment.

Anyone have suggestions for other well known insurance company's that would hand this kind of a policy? I've researched most of them.

hecash

The $1K limit is right. Your agent is a piece of slime for implying otherwise. I went through this with my first S2000.

I made out like a bandit because they settled on the claim at less than the total write-off amount and gave the car back to me. Between the insurance claim and the part out recovery, I bought a year-old S2000 with 4,800 miles on it and still put $3K into my pocket.