BMW X5 and X6 Forum 2014-Current
BMW Garage BMW Meets Register Search Today's Posts Mark Forums Read


Post Reply
 
Thread Tools Search this Thread
      03-04-2018, 03:26 PM   #1
menelaos
Lieutenant Colonel
menelaos's Avatar
1226
Rep
1,915
Posts

Drives: 2015 BMW X5 F15
Join Date: Nov 2017
Location: Cheboygan, MI

iTrader: (0)

Car mods and insurance

I was visiting my policy the other, and on the smartphone, information is condensed in front of you, so you can't miss a detail.
One word that caught my eye is: "Modified".
What this means, is that essentially you have to declare when the car has been modified, so they can reassess the risk.
I know we all take pride of our modifications, but I do believe we need to declare it. Otherwise, it amounts to fraud, and should something unexpected happens, and insurance does "forensics", they will figure it out...and they won't pay. I have the feeling that this is 100% true for tunes, even if factory approved, and cosmetic changes, as the value of the vehicles changes.
.....including MGP Caliper Covers perhaps???
Appreciate 1
CT335xi682.50
      03-04-2018, 04:15 PM   #2
CT335xi
Major
CT335xi's Avatar
683
Rep
1,434
Posts

Drives: 2022 x5 m50i, 2005 evo 8
Join Date: Dec 2011
Location: Newtown, Ct

iTrader: (0)

Quote:
Originally Posted by menelaos View Post
I was visiting my policy the other, and on the smartphone, information is condensed in front of you, so you can't miss a detail.
One word that caught my eye is: "Modified".
What this means, is that essentially you have to declare when the car has been modified, so they can reassess the risk.
I know we all take pride of our modifications, but I do believe we need to declare it. Otherwise, it amounts to fraud, and should something unexpected happens, and insurance does "forensics", they will figure it out...and they won't pay. I have the feeling that this is 100% true for tunes, even if factory approved, and cosmetic changes, as the value of the vehicles changes.
.....including MGP Caliper Covers perhaps???
Man thanks for the heads up , got to put in a call to my insurance company as I just ordered a set of those MGP caliper covers.
__________________
2022 x5 m50i - Dravit grey
2005 evo 8 (current) built 2.3 488/409 mustang dyno
Old stable mates - 87 325i, 88 m3, 90 m3, 97 m3 4dr,
04 325xi, 91 gmc Syclone, 08 335xi, and 13 x3 35i msp
2014 x5 50i msport
Appreciate 1
      03-04-2018, 04:22 PM   #3
menelaos
Lieutenant Colonel
menelaos's Avatar
1226
Rep
1,915
Posts

Drives: 2015 BMW X5 F15
Join Date: Nov 2017
Location: Cheboygan, MI

iTrader: (0)

Aside for the "MGP" joke, I think this is a real issue.
Hope problems never materialize.
Appreciate 0
      03-04-2018, 04:28 PM   #4
CT335xi
Major
CT335xi's Avatar
683
Rep
1,434
Posts

Drives: 2022 x5 m50i, 2005 evo 8
Join Date: Dec 2011
Location: Newtown, Ct

iTrader: (0)

Quote:
Originally Posted by menelaos View Post
Aside for the "MGP" joke, I think this is a real issue.
Hope problems never materialize.
No I agree all joking aside, that’s a thing lots of people don’t even think about doing. I know everyone is trying to keep there premium down, but in actuality if you where to get in a accident and they totaled the vehicle you could lose out on money if you had it heavily modded. I had 1991 GMC Syclone and had Hagerty insurance, it was modded and I had insurance for what I thought it was worth and agreed upon them. Depending on how extensive the mods were , they could ask to see the vehicle to verify you have put in what you said was in the vehicle.
__________________
2022 x5 m50i - Dravit grey
2005 evo 8 (current) built 2.3 488/409 mustang dyno
Old stable mates - 87 325i, 88 m3, 90 m3, 97 m3 4dr,
04 325xi, 91 gmc Syclone, 08 335xi, and 13 x3 35i msp
2014 x5 50i msport
Appreciate 0
      03-04-2018, 04:32 PM   #5
menelaos
Lieutenant Colonel
menelaos's Avatar
1226
Rep
1,915
Posts

Drives: 2015 BMW X5 F15
Join Date: Nov 2017
Location: Cheboygan, MI

iTrader: (0)

Quote:
Originally Posted by CT335xi View Post
No I agree all joking aside, that’s a thing lots of people don’t even think about doing. I know everyone is trying to keep there premium down, but in actuality if you where to get in a accident and they totaled the vehicle you could lose out on money if you had it heavily modded. I had 1991 GMC Syclone and had Hagerty insurance, it was modded and I had insurance for what I thought it was worth and agreed upon them. Depending on how extensive the mods were , they could ask to see the vehicle to verify you have put in what you said was in the vehicle.

So you don't think there is a risk of insurance being voided due to "fraud"?
Appreciate 0
      03-04-2018, 04:44 PM   #6
CT335xi
Major
CT335xi's Avatar
683
Rep
1,434
Posts

Drives: 2022 x5 m50i, 2005 evo 8
Join Date: Dec 2011
Location: Newtown, Ct

iTrader: (0)

Quote:
Originally Posted by menelaos View Post
So you don't think there is a risk of insurance being voided due to "fraud"?
No I’m not saying that, but if they tried to pull that they would definitely have a legal battle on their hands.
__________________
2022 x5 m50i - Dravit grey
2005 evo 8 (current) built 2.3 488/409 mustang dyno
Old stable mates - 87 325i, 88 m3, 90 m3, 97 m3 4dr,
04 325xi, 91 gmc Syclone, 08 335xi, and 13 x3 35i msp
2014 x5 50i msport
Appreciate 0
      03-04-2018, 04:46 PM   #7
menelaos
Lieutenant Colonel
menelaos's Avatar
1226
Rep
1,915
Posts

Drives: 2015 BMW X5 F15
Join Date: Nov 2017
Location: Cheboygan, MI

iTrader: (0)

They got the tools for litigation.. Not sure if average car owner does.
Appreciate 0
      03-04-2018, 05:24 PM   #8
Doanster
Major
Doanster's Avatar
627
Rep
1,181
Posts

Drives: 2014 F15 Carbon Black M-Sport
Join Date: Aug 2009
Location: Oregon

iTrader: (0)

They aren't going to waste their time with "fraud" due to bolt-on mods. Even a tune isn't exactly putting you into supercar territory. Besides, accidents are caused by people (sometimes behaving badly/stupidly), not mods.
One easy caveat is for things like blacked out tail/headlights or limo tint on the windshield. Easy out for them vs litigation.
__________________
A little mod here, a little mod there...
Appreciate 1
menelaos1226.00
      03-04-2018, 05:50 PM   #9
LocksmithNick
Captain
LocksmithNick's Avatar
United_States
1142
Rep
714
Posts

Drives: BMW X5 M Sport - G05
Join Date: Oct 2017
Location: Myrtle Beach, SC

iTrader: (0)

Garage List
I pay the insurance company $300 a month for 2 vehicles. So $3600 x let’s say 20 years is $72,000. That’s what they want, dude. They ain’t worried about your tune...
Appreciate 1
Wavy1139.50
      03-04-2018, 06:02 PM   #10
menelaos
Lieutenant Colonel
menelaos's Avatar
1226
Rep
1,915
Posts

Drives: 2015 BMW X5 F15
Join Date: Nov 2017
Location: Cheboygan, MI

iTrader: (0)

Quote:
Originally Posted by LocksmithNick View Post
I pay the insurance company $300 a month for 2 vehicles. So $3600 x let’s say 20 years is $72,000. That’s what they want, dude. They ain’t worried about your tune...
That's quite a bill! Insurance premiums are going up mainly due to distracted driving. Am pretty sure that if you disclosed extra 100hp in your car, they'd be "interested"!

I remember when I got my first insurance in '97, I was paying $283/month as I had no driving record in the states, which was more than the car payment!
Appreciate 0
      03-04-2018, 09:18 PM   #11
DuSh
Colonel
DuSh's Avatar
2113
Rep
2,388
Posts

Drives: F15 X5 50i
Join Date: Jul 2017
Location: USA

iTrader: (0)

Sorry a bit off topic, but kinda related lol. I'm 40 now. I'm driving since I was 18. Had 2 accidents, in both cases was 100% not at fault. Old lady T-boning me from a private driveway while I was going on main road lol - can you imagine that and another one was a painter guy with his wife and a nice truck full of paint cans, rear ending me in stop and go traffic - while probably daydreaming. Thankfully paint was not splattered all over the place lol.

In both cases insurance gave me a hard time. If not for my 2-way (I got 360 degree coverage) dashcam lol (well I'm Russian after-all and we are born with dashcams as you probably know) - I would be right now paying tons of premiums for nothing. That painter guy, that bastard later claimed I was backing up and hit him - imagine that on a highway. My insurance told me he claimed whiplash injury because of me. So I sent them a video where he drives into me while I'm stopped lol. I draw how it happened in a special software to help them understand it - took me a day to gather everything. They later said I was 100% not at fault and I don't know what happened to that painter guy - I won't be surprised if he got forgiveness like insurance companies are doing often. If I was insurance company CEO I would not forgive such scammers, but I'm not a CEO.

First accident with old lady (God bless her) was also funny. She just put a small dent in my fender and I was even going to tell her to forget about it (her old cutlass barely got a scratch lol), but her daughter and son (they were about my age) claimed I was at fault. I don't understand what's with these people lol. So once again dashcam showing a old lady slamming happily into my fender going out of her driveway without even bothering to check traffic - got me out of it. But, boy I got tired dealing with insurance after that accident trying to repair that fender. I literally had to call about 40-50 times until everything was done.

Anyway - moral of story: please buy a dashcams (not to accuse anyone, but to help yourself get out of a nasty situation you may one day get into, dashcams are cheap nowadays unlike lawyers lol) and stay safe my friends, lots of distracted drivers out there

Last edited by DuSh; 03-04-2018 at 09:24 PM..
Appreciate 3
menelaos1226.00
ajob454.50
      03-05-2018, 04:24 AM   #12
menelaos
Lieutenant Colonel
menelaos's Avatar
1226
Rep
1,915
Posts

Drives: 2015 BMW X5 F15
Join Date: Nov 2017
Location: Cheboygan, MI

iTrader: (0)

Quote:
Originally Posted by DuSh View Post
Sorry a bit off topic, but kinda related lol. I'm 40 now. I'm driving since I was 18. Had 2 accidents, in both cases was 100% not at fault. Old lady T-boning me from a private driveway while I was going on main road lol - can you imagine that and another one was a painter guy with his wife and a nice truck full of paint cans, rear ending me in stop and go traffic - while probably daydreaming. Thankfully paint was not splattered all over the place lol.

In both cases insurance gave me a hard time. If not for my 2-way (I got 360 degree coverage) dashcam lol (well I'm Russian after-all and we are born with dashcams as you probably know) - I would be right now paying tons of premiums for nothing. That painter guy, that bastard later claimed I was backing up and hit him - imagine that on a highway. My insurance told me he claimed whiplash injury because of me. So I sent them a video where he drives into me while I'm stopped lol. I draw how it happened in a special software to help them understand it - took me a day to gather everything. They later said I was 100% not at fault and I don't know what happened to that painter guy - I won't be surprised if he got forgiveness like insurance companies are doing often. If I was insurance company CEO I would not forgive such scammers, but I'm not a CEO.

First accident with old lady (God bless her) was also funny. She just put a small dent in my fender and I was even going to tell her to forget about it (her old cutlass barely got a scratch lol), but her daughter and son (they were about my age) claimed I was at fault. I don't understand what's with these people lol. So once again dashcam showing a old lady slamming happily into my fender going out of her driveway without even bothering to check traffic - got me out of it. But, boy I got tired dealing with insurance after that accident trying to repair that fender. I literally had to call about 40-50 times until everything was done.

Anyway - moral of story: please buy a dashcams (not to accuse anyone, but to help yourself get out of a nasty situation you may one day get into, dashcams are cheap nowadays unlike lawyers lol) and stay safe my friends, lots of distracted drivers out there

Thanks for sharing... Another item to buy, oh well...
Appreciate 1
DuSh2112.50
      03-05-2018, 08:54 AM   #13
Kzang
Major General
Kzang's Avatar
3222
Rep
5,058
Posts

Drives: 2015 X5 35i Msport SG
Join Date: Jun 2009
Location: East Coast

iTrader: (0)

Interesting... my rear end accident happened last summer. The other insurance company sent an appraiser to my house and I told him don't forget to add my MPE and Carbon fiber diffuser. He asked for a receipt to confirm the value and they accepted my "mods" to be replaced without me having to declare it with my insurance company.

Now if it had been my fault, would my insurance company accept or reject my mods replacement provided that I show them my purchase receipt? I don't know.
__________________
2015 F15 X5 35i Msport Space Grey M Performance parts MPPK, MPE
Appreciate 3
menelaos1226.00
DuSh2112.50
aracka60.00
      03-05-2018, 10:38 AM   #14
fosterelli
Second Lieutenant
237
Rep
211
Posts

Drives: 2014 X5 xDrive35i M-Sport
Join Date: Dec 2017
Location: Cypress, Texas

iTrader: (0)

I'm not going to give insurance or legal advice. But I will say this topic is hilarious and rather pointless unless you have serious modifications or require significant financial protection (aka SEMA Show type of modifications that are in the tens of thousands of dollars).

Where do you draw the line on mods? Only HP gains? Big ticket cost items? Black kidneys? Aftermarket Rain-X wiper blades?

Are the super stupid (for lack of a more sensitive word) blue headlight bulbs counting as a mod? They should be reported!

You know, the ones that everyone with a piece of crap car runs out to AutoZone and buys? I get blinded all the time by these $2,000 cars with their $3,000 worth of aftermarket chrome, $500 in aftermarket lighting, and $200 in trash mufflers that sound like lawnmowers. And if they're really ballers, they also get custom 14" chrome rims (or spinner hubcaps) and a Jensen stereo system with a few 6x9 speakers!

I'm not pointing fingers, but when I travel to Mexico for work I see the EXACT vehicles everywhere...same blue headlamps and all!
__________________
2014 X5 x35 F15
Appreciate 2
menelaos1226.00
DuSh2112.50
      03-05-2018, 10:46 AM   #15
menelaos
Lieutenant Colonel
menelaos's Avatar
1226
Rep
1,915
Posts

Drives: 2015 BMW X5 F15
Join Date: Nov 2017
Location: Cheboygan, MI

iTrader: (0)

Kzang and fosterelli , thanks for the input!
Just wanted to see if folks have had any experience with all the mods going on.
Appreciate 0
      04-17-2018, 04:08 PM   #16
fromkrypton
Lieutenant
Canada
610
Rep
428
Posts

Drives: 2015 X5 35d
Join Date: Oct 2008
Location: Candiac

iTrader: (0)

Garage List
2015 BMW X5 35d  [0.00]
I'm not sure how it is on my car but for my motorcycle they cover up to 5000$ in mods without a reassessment. Car and bike are same company.
Appreciate 0
      04-17-2018, 05:11 PM   #17
menelaos
Lieutenant Colonel
menelaos's Avatar
1226
Rep
1,915
Posts

Drives: 2015 BMW X5 F15
Join Date: Nov 2017
Location: Cheboygan, MI

iTrader: (0)

Oh Canada!
Appreciate 0
Post Reply

Bookmarks

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off



All times are GMT -5. The time now is 04:26 AM.




xbimmers
Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.
1Addicts.com, BIMMERPOST.com, E90Post.com, F30Post.com, M3Post.com, ZPost.com, 5Post.com, 6Post.com, 7Post.com, XBimmers.com logo and trademark are properties of BIMMERPOST