Many of you know I was researching Insurance for modified cars. Here is my update on the subject.

After trying to go through 10-15 "specialty insurance" companies that claimed to insure exotic, rare, classic or modifed cars, I've learned that NONE of them will cover a Honda S2000.

The ONLY company that will cover a modified (engine) Honda S2000 is Progressive. You have to get coverage through an agent, Progressive does not work directly with customers on setting up new non-Standard policies. The quotes are nothing to smile at. The quotes for me, being 25 years old and having one ticket (on my record), with the car being a daily driver were $491/month with a 50/100/50 coverage with a $500 deductible on a stated policy sayiing the car is worth $30K. I got another quote for the car NOT being daily driver and it was $190/month with a 50/100/50 coverage with a $500 deductible on a stated policy saying the car is worth $30K.

I've already purchased a daily driver, and want to have my S2000 and all of my mods covered (or the value of the car w/ it's mods), so I'll most likely be going with Progressive to cover the car. I was hoping/expecting to pay much less for the insurance, but I don't have much of a choice. I have contacted as many as 10 agents and as many as 20 different insurance companies in the last month; this seems to be the only way to go.

 

eekstain. that's robbery. I had thought that stuff was actually covered by homeowners/renters insurance...that is until I got my last car stolen and found out the hard way.

unless your making money with the modded car, doesnt seem affordable

 

Wes,

Did you try Allstate. I have my modded Prelude covered as "stated value". That is, I pay a slightly elevated premium, but nothing compared to yours. If anything happens to the Prelude, they cover me for the KBB value, and a good percentage of everything that added up in the stated value. All they ask for at the time of claim, is a receipt of everything I have claimed on the car.

Although, my agent was a bit more proactive...he asked me for copies of all the receipts in advance and has them stored for me in a file and in soft copy.

I have some goodies coming for the S2K as well, and will insure it in this manner as well.

 

Ouch. I think you would do just as well to insure the car as stock and put the difference in a savings account.

 

I called them directly and they told me they do not cover modified (engine) cars. Now, it's possible that they will do it via an agent, but every agent I spoke with only gave me a quote for Progressive...they told me that was all they had to choose from for modified (engine) cars.

I'd be interested in talking with your agent, though.

 

Read the link above, they know it's modified...and I think it's noted on my policy. Now, any insurance agent that gets my insurance history knows that the car is modified.

 

Jedi mind trick man!

This isn't the car you're looking for. Now lower my rates.

 

Damn...you can't win for loosing with insurance companies these days. I mean it's a Honda for Pete's sake, not a Ferrari. There are a lot of $40K Lexus and Infinity drivers out there that I'm sure don't have that much problem getting insurance.

Sorry, had to rant a bit. Insurance companies just piss me off.

 

[QUOTE]Originally posted by Wesmaster
[B]

I called them directly and they told me they do not cover modified (engine) cars.

 

HAHAHAHAHAHAHA! That's great.